PET LIDDING FILM Market

The global PET lidding films market is driven by factors such as the Growth of the Food & Beverage Industry, Increased Demand for Processed and Convenience Food. However, the fluctuating raw material prices and stringent norms regarding plastic packaging act as restraints for the market growth during the forecast period. The global PET lidding films market is expected to grow at 6.69% CAGR during the forecast period.

The global PET lidding films market has been segmented based on product type, application, and end use. On the basis of on material, the global market has been segmented into high barrier lidding films, dual-ovenable lidding films, resealable/reclosable films, specialty lidding films, and breathable lidding films. In 2018, the high barrier lidding films segment accounted for the larger market share of 51.5% with a market value of USD 328.7 million. It is projected to grow at 6.42% CAGR during the forecast period.

On the basis of application, the global market has been segmented into trays, cups, others, and jars & bottles. In 2018, the trays accounted for the largest market share of 32.9 with a market value of USD 209.9 million. It is projected to grow at 5.72% CAGR during the forecast period.

On the basis of end-use, the global market has been segmented into food & beverage, pharmaceutical, and others. In 2018, the food & beverage segment accounted for the largest market share of 72.12 % with a market value of USD 461.5 million. It is projected to grow at 6.45% CAGR during the forecast period.

On the basis of region, in 2018, Europe accounted for the largest market share of 34.83 % with a market value of USD 222.5 million. It is projected to grow at 5.94% CAGR during the forecast period.