The global die-cut lids market features a moderately consolidated at present, but could witness entry of several new participants rendering the market to be competitive, says a new report by Transparency Market Research (TMR). In the highly competitive market, players are strategizing on organic and inorganic growth to strengthen their footprint in emerging markets. Players are focused to leverage their core business strengths to bring new products to the market with reduced turnaround time. Efforts for the design and technological aspects of packaging is also the focus of companies in the market to tap opportunities in emerging markets.
Some of the leading companies operating in the global die-cut lids market are Amcor Limited, Winpak Ltd., Bemis Inc., Sealed Air Corporation, CLONDALKIN GROUP, Constantia Packaging, and Watershed Packaging.
TMR estimates that the global die-cut lids market is expected to be valued at US$852.2 mn by 2025 increasing from a valuation of US$515.2 mn in 2016 at a CAGR of 5.9% between 2017 and 2025. The die-cut lids market is expected to rise at a CAGR of 5.2% between 2017 and 2025 in terms of volume.
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Asia Pacific to Emerge as Attractive Regional Market
The material type segments of the global die-cut lids market are paper, plastic, aluminum, and others. Of these, aluminum is expected to be the most attractive segment and account for 68.8% of the market by the end of 2017. Food products is expected to display the leading growth rate over the forecast period with the segment accounting for 80.4% of the market by the end of 2017. The report studies the global die-cut lids market with respect to the regional markets of North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Asia Pacific is anticipated to be the most attractive market displaying a CAGR of 7.0% between 2017 and 2025.
Rising Demand for Processed Food Vital for Die-cut Lids Market
The key factor stoking growth of the die-cut lids market is burgeoning demand for dairy products such as yoghurt and cheese. The importance for safe and attractive packaging to increase the shelf life of dairy products not found in primary packaging has led to the adoption of die-cut lids packaging.
The market for die-cut lids is expected to benefit significantly by the growth of organized retail. With the revival of the global economy, consumers are spending substantial amounts on packaged foods such as desserts, dipping sauces, and instant soups directly from super markets or super stores.
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The rising rate of use of die-cut lids as a new marketing platform for brands is also massively pushing up growth of die-cut lids market. Brand owners are increasingly capitalizing on the opportunity to use printed die-cut lids as a medium for communication and promotion. This is not only working as an excellent marketing tool for brands and working in favor of the die-cut lids market as well.
Last but not the least, the growing demand for packaging in the food industry is also a vital driver for the global die-cut lids market. Customized food packaging is gaining traction which is expected to have a positive impact on the sales of lidding films.
However, growing preference for flexible packaging due to its convenience and price factor is hampering the die-cut lids market.
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