Tray Lidding Films Market: An Overview
Tray lidding films are consist of foil, PET, and a variety of other metallized and non-metallized materials. The film was created with the goal of peeling without shredding. For longer shelf life, it maintains a strong adhesion and a tight seal. Usually, these films create a strong seal that provides enhanced tamper verification and is difficult to remove without the use of a cutting tool which has favoured the growth of market among end users. Tray lidding films have emerged as a revolutionary way of food packaging to meet the complex needs of foodservice providers. Today’s consumers appreciate quick single-serving meals that can be prepared easily. Consumers, retailers, and foodservice provide profit from these films because they provide convenience, food safety, and improved quality which has increased the usage of these films and fuelling the sales and demand of tray lidding films. Due to their strong barrier against air, moisture, and bacteria, tray lidding films are widely recommended for packing meat and other food items. With an easy peelable option, these films can be used to seal a variety of food service trays, including composite material trays, mono-material trays, and aluminium trays. Therefore, the global market for tray lidding films market is projected to remain progressive during the forecast period.
Tray Lidding Films Market: Dynamics
The food industry prominently drives the global tray lidding films market. The global market has seen substantial growth in the last decade, and this is projected to continue during the forecast period. This can be attributed to the increasing demand for handy food products including prepared meals, frozen foods, and meat products, owing to their convenience in purchasing and consuming. Increasing consumption of prepared meals due to busy schedules and rising health concerns are expected to drive market growth. The food industry in all regions is more stable in terms of occupation and good labour income than other manufacturing industries. This economic growth of the food industry is expected to create lucrative opportunities for the tray lidding films market across the globe.
The growth of the food industry will also be assisted by several allied industries such as the retail and packaging sectors. Customized offering for packaging food products is gaining traction, and this is expected to positively impact sales of tray lidding films throughout the next decade. The film can be kept on the product while the food is cooked, which can be done in both, microwave and conventional ovens, offering directly from freezer to oven features.
Manufacturers and brand owners are capitalizing on the latent opportunity for usage of tray lidding films as a promotional medium. This trend is adopted by almost all prominent food packaging businesses as a promotional and marketing tool, which is driving demand for tray lidding films. Several manufacturers are also providing various printing and embossing options to customers to attract them. Tray lidding films are highly recommended for packing meat and related products, as they have an excellent barrier against air, moisture, and microbes. Its advanced barrier layer preserves the taste and aroma of products with also giving resistance to oil. Furthermore, these benefits of tray lidding films drive the growth of the tray lidding films market.
Across the world, the COVID-19 pandemic has severely affected all industries in the market. Tray lidding films market has a mixed impact of this pandemic. Somewhere the consumption of packaged food has seen a decline and somewhere there has an inclination of packaged foods among consumers in the market. Also due to the supply chain level of these films at very low level caused in the reduction of the tray lidding films by manufacturers.
Tray Lidding Films Market: Segmentation
Tray lidding films market can be segmented by material, product, and application
By material, the tray lidding films market can be segmented as
- Polyethylene (PE)
- Polypropylene (PP)
- Ethylene Vinyl Alcohol (EVOH)
- Polyethylene terephthalate (PET)
- Crystalline PET
- Amorphous PET
- Recycled PET
By product, the tray lidding films market can be segmented as
- Dual-ovenable lidding films
- Speciality lidding films
- High barrier lidding films
- Resealable/reclosable films
By application, the tray lidding films market can be segmented as
- Prepared Meals
- Frozen Foods
- Meat Products
- Dairy Products
- Others
Tray Lidding Films Market: Regional Outlook
North America and Europe region are dominating the tray lidding films market in both supply and production. The factors for the dominance of the market in these regions are a large number of supermarkets and hypermarkets present coupled with the increasing demand for the packaged food and beverages. The Asia Pacific regional market is anticipated to see stable growth over the forecast period for the tray lidding films market as the key players are focusing on sustainability concerns and manufacturing eco-friendly lidding films. In the Middle East and Africa, the growth of the market is projected to increase owing to the growing demand for the packaged food which has a longer shelf life.
Tray Lidding Films Market: Key Players
Key players in the tray lidding films market are:
Global Players:
Mondi plc, KM Packaging Services Ltd., Uniflex, AR Packaging, Camvac, The Platinum Package Group, Crawford Packaging, Wipak and others.
Asian Players:
Wonder Packagings, Green Packaging Material (Jiangyin) Co., Ltd, Wuxi Changxi Packaging Material Co., Ltd., Shantou Fenbo Packaging Co., Ltd., Hubei Hawking Packaging Material Co., Ltd, Supreme Industries Limited, Sun Packaging, Nexus Corporation and others.
The report tray lidding films market is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macroeconomic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on tray lidding films market segments and geographies.
Regional Analysis Includes-
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa (MEA)
Reports Highlights:
- A detailed overview of the parent market
- Changing tray lidding films market dynamics in the industry
- In-depth tray lidding films market segmentation
- Historical, current, and projected market size regarding volume and value
- Recent industry trends and developments in the tray lidding films market
- Competitive landscape
- Strategies for key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for players to sustain and enhance their market footprint
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Europe
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.
