Breathable Lidding Film Packaging Market Forecast with Potential Impact, Despite COVID-19 Pandemic, Finds FMI 2022 – 2032
By the end of 2032, the market for breathable lidding film packaging is projected to be worth US$1.1 billion. A CAGR of 7.2% has been predicted for the market throughout the forecast period of 2022 to 2032, with an anticipated closing value of US$ 558.6 Million in the current year 2022. The industry expanded with a value CAGR of 4.7% over the historical period of 2016–2021.
The need for making fresh produce to last long has provided far reaching impetus to innovations in breathable lidding films. In the United States half of the fresh produce is wasted due to short shelf life of the fresh produce. Breathable lidding film increases the shelf life of the fresh produce by controlling the oxygen transmission rate for packaging through micro-perforations, thus reducing the expiry rate of the product. According to the product and the storage conditions, breathable lidding film is manufactured to make the product last longer. Food and beverage industry has been estimated around US$ 2 trillion for the year 2016, and it has been expanding, and the need for breathable lidding films have been increasing on this backdrop. The use of breathable lidding film is expected to decrease the loss of the food hence improving the profits for the retailers and food packaging market.
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Breathable Lidding Film Packaging Market: Market Dynamics
The breathable lidding film is a significant part of the lidding film market. Lidding film market is estimated to be US$ 4 billion and is expected to grow at a CAGR of 4% over the forecast period. The need for making fresh produce last long is the key driver for breathable lidding film packaging market. The increasing penetration of the modern retail outlets in the APEJ region is another factor driving the demand for the breathable lidding film packaging market.
With increasing influence of the western culture, the lifestyle of the eastern countries is changing which is driving the demand for the packed food while influencing the breathable lidding film packaging market. However, breathable lidding films are unable to protect the products from chemicals and physical damages from the external environment.
Despite these restraints, the ability to increase the shelf life of the products with breathable lidding film, the market is expected to grow vertically upwards. With the increasing population and decreasing cultivation area, the need for protecting fresh produce to last long may provide significant opportunities for the lidding film packaging market in future.
Breathable Lidding Film Packaging Market: Market Segmentation
Breathable lidding film packaging market is segmented by material type, by substrate type, by end use and by seal type.
Based on the type of material used, breathable lidding film packaging market is segmented into:
- Plastic
- LDPE
- PP
- Paper
- Woven Sacks
Based on the type of substrate, breathable lidding film packaging market is segmented into:
- CPET
- APET
- PP
- PVC
- PE
Based on the type of end use, breathable lidding film packaging market is segmented into:
- Bakery & Confectionery Products
- Produce grain
- Produce vegetable
- Produce fruits
- Dried fruits
- Other food products
Based on the Seal type, breathable lidding film packaging market is segmented into:
- peel
- semi-weld
- weld
Breathable Lidding Film Packaging Market: Regional Outlook
Regionally global breathable lidding film packaging market is segmented into
- North America
- Latin America
- Eastern Europe
- Western Europe
- Asia-Pacific excluding Japan (APEJ)
- Middle East & Africa (MEA)
- Japan
North America and Western Europe region is expected to lead the breathable lidding film packaging market owing to the current lifestyle and of the consumers and packaging manufacturer’s practice being aligned with the market needs. Latin America and APEJ region are expected to register the highest growth for the breathable lidding film packaging market over the forecast period owing to the high economic growth rate in the emerging economies present in the region. Japan is expected to hold significant breathable lidding film packaging market share attributed to its highest per-capita spending for packaging. While demand for breathable lidding film packaging market in Eastern Europe and MEA region is expected to be moderate over the forecast period.
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