The Packaging market has grown over the years and is expected to grow in the future as well. The various trends that are shaping the packaging industry include environment and sustainability concerns, health concerns, increasing purchasing power and the changing lifestyle of people. These trends have led to an increase in demand for flexible packaging and ultimately dual-ovenable lidding films market. Dual-Ovenable lidding films is a product which fulfills such requirements. These types of films, which are heat resistant, are used for packing frozen food items or products that require heating in a microwave or an oven. In addition, the dual ovenable lidding films provide an oxygen barrier, have a low seal initiation temperature, seal integrity and maintain eco-friendly and solvent-free formulation which results in fresh food flavor experience. Other advantages associated with dual ovenable lidding films are that they are easy to peel, minimize cleanup, reduce cooking time, avoid overcooking, burning or drying of food products, enable self-venting while the food is cooking and can go directly from freezers to oven.
Dual-Ovenable Lidding Films Market Dynamics:
The modern-day consumer has an on-the-go lifestyle and thus, looks for convenience. They prefer packaged food or ready-to-eat food to traditional home-cooked meals. The global food retail industry is expected to grow at a CAGR of 5% from 2016 to 2020. These factors have unfolded some new opportunities for the packaging companies and are fuelling growth in dual-ovenable lidding films market. The growing popularity of side dishes and new packaging formats that allow end users to see food items are some factors that are contributing to the growth of dual-ovenable lidding films market. However, factors like recycling problems, degradation, and rising costs of manufacturing can hinder growth in the dual-ovenable lidding films market. The other factor that can restrain the dual-ovenable lidding films market is the requirement to meet food safety standards. The food safety standards have evolved over the years. For instance, there are packaging products that reduce oxygen and moisture level and provide antimicrobial protection. However, ovenable films are not that advanced as of now and therefore, can impact the dual-ovenable lidding films market.
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Dual-Ovenable Lidding Films Market Segmentation:
On the basis of application, the global dual-ovenable lidding films is segmented into:
- Prepared Meals
- Fresh Foods
- Frozen Meals
- Pet Foods
- Natural / Organic
On the basis of material, the global dual-ovenable lidding films is segmented into:
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Dual-Ovenable Lidding Films Market- Regional Outlook:
Geographically, the dual-ovenable lidding films market can be divided into these segments: North America, Latin America, Europe, Asia-Pacific (APAC) and Middle East & Africa (MEA). The global dual ovenable lidding films is projected to grow at a CAGR of over 6% during the forecast period
(2016-2024). North America and Europe are expected to be the dominant regions for this market. The Asia Pacific region, on the other hand, is expected to experience an above global average growth in the dual-ovenable lidding films market, largely due to developing economies like India and China where purchasing power is on rise and more hypermarkets and supermarkets are coming up. MEA is expected to witness an average growth in dual-ovenable lidding films market.
Dual-Ovenable Lidding Films Market- Key Players:
Some of the leading players identified across the globe in the dual-ovenable lidding films market are: TCL Packaging Ltd, Bemis Company, Inc , DuPont Teijin Films U.S Limited Partnership, Golden Eagle Extrusions, Inc., Toray Plastics (America), Inc., CLIFTON PACKAGING GROUP LTD., Multi-Pastics, Inc., Schur Flexibles Holding GesmbH , Rajhoney Flexipack Pvt. Ltd., and Sealed Air Corporation.
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