Dual Ovenable Lidding Films Market Overview, Data Updates, Reports Analysis & Forecast | FMI

ByNiranjan karde

With global revenues rising 2.8% in 2023, the market for dual ovenable lidding films experienced rapid expansion. According to a recent forecast by Future Market Insights (FMI), revenue would almost double between 2023 and 2033, reaching close to US$ 142.3 million in 2031 at a ten-year compound annual growth rate (CAGR) of 5.6%. Despite COVID-19’s sluggish sales, demand for dual ovenable lidding films will increase, albeit gradually. By the end of 2022, it is anticipated to be close to 47,000 tonnes. Over the forecast period, the market is expected to grow in terms of volume at a 5.3% CAGR.

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The global dual ovenable lidding films market is expected to experience significant growth in the coming years. These films are used for packaging food products that can be cooked and served in the same container. With increasing consumer demand for convenient and time-saving food options, the demand for dual ovenable lidding films is expected to surge.

Leading players in the food packaging industry are investing in the development of innovative and high-performance dual ovenable lidding films. These films offer excellent heat resistance, high clarity, and improved barrier properties, making them ideal for a wide range of food applications. The use of these films also helps to reduce food waste, as they enable consumers to store and reheat leftovers with ease.

In addition to the food packaging sector, the growth of the e-commerce industry is also expected to drive demand for dual ovenable lidding films. The rise in online grocery shopping has created a demand for convenient and practical packaging solutions, and dual ovenable lidding films meet these requirements.

The market for dual ovenable lidding films is segmented based on type, application, and geography. On the basis of type, the market is segmented into polypropylene, polyethylene, and others. Based on application, the market is divided into food packaging, consumer goods, and others. Geographically, the market is segmented into North America, Europe, Asia-Pacific, South America, and the Middle East and Africa.

North America is expected to dominate the market for dual ovenable lidding films, followed by Europe and Asia-Pacific. The growth of the market in these regions can be attributed to the presence of leading players and the increasing demand for convenient and time-saving food options.

Key Takeaways from Dual Ovenable Lidding Films Market

  • Polyethylene terephthalate (PET) dual ovenable lidding films are expected to account for nearly 3/4th of the global market, aided by cost and durability benefits.
  • Peelable seals ensure the quality of product while improving user convenience, and are estimated to increase by nearly 2 times of the current value, at US$ 130 Mn by 2031.
  • Meat products packaging applications are expected to create an incremental opportunity of US$ 28.5 Mn in the next ten years.
  • The U.S. will account for over 90% of the North America value share through the assessment period, owing to a large and matured packaged food sector.
  • Germany is the largest and fastest growing market in Western Europe, accounting for over 30% value share by 2031, driven by the presence of major manufacturing facilities.

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Market by Category:

By Material Type:

  • Polyethylene (PE)
  • Polyethylene Terephthalate (PET)
  • Crystallizable PET (CPET)
  • Amorphous PET (APET)
  • Recycled PET (RPET)
  • Polypropylene (PP)
  • Others

By Seal Type:

  • Pealable Seal
  • Easy Peal
  • Medium Peal
  • Hard Peal
  • Very Hard Peal
  • Permanent Seal

By Application:

  • Prepared Meals
  • Frozen Foods
  • Meat Products
  • Dairy Products
  • Others