- Biodegradable Lidding Films currently are experiencing significant adoption amongst various industries.
- Fluctuating raw material prices have become a serious issue for manufacturers of Biodegradable Lidding Films.
- Growth prospects of the lidding films industry is promising.
Global Biodegradable Lidding Films market is correlated to the significant presence of organized retail and wholesale sector across the world. Biodegradable materials are plastic films whose raw material is vegetative such as corn starch, tapioca products or sugarcanes. These thermoplastic aliphatic materials are derived from renewable resources called Poly lactic acid or polylactide, shortly named as PLA, and can biodegrade under presence of oxygen. Biodegradable Lidding Films are used for the packaging of prepared food, tablets, and in syrup bottles.
Biodegradable Lidding Films currently are experiencing significant adoption amongst various industries, across the globe. Nowadays, consumers are more interested in buying processed food products including frozen foods, prepared meals, meat products, and others directly from the super market. Also, in the recent years, middle level income population with comparatively higher disposable capital income has increased, and most of the population these days prefer using biodegradable products. Since, most of the working population prefer to consume healthy processed food, the market for Biodegradable Lidding Films is expected to foresee significant growth. In the food industry, Biodegradable Lidding Films provide customers with the ‘no-touch’ cooking solution, allowing them to take food products directly from the freezer to their use. This aspect of cooking helps in avoiding product contamination. Thus, Biodegradable Lidding Films facilitate improved food safety, and this particular factor will add to the growth of the market during the assessment period.
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Trends such as growing popularity of packaging in trays and specialty containers, modified atmosphere packaging (MAP), retort packaging applications and others are expected to drive the Biodegradable Lidding Films market substantially in the forecast period.
Across the globe, major manufacturers in the films packaging industry are focusing on manufacturing of Biodegradable Lidding Films these days. Similarly, maximum users in the frozen foods and meat products packaging industry across the globe are focusing on reducing their carbon footprint. There is a great demand for Biodegradable Lidding Films owing to customer inclination towards the use of clean materials and an increase in health awareness. Also, in many countries, government is encouraging the use of biodegradable products across various industries. These are few of the major reasons driving the Biodegradable Lidding Films market.
There are some restrains in the Biodegradable Lidding Films market, which are hindering the prospective growth. Fluctuating raw material prices have become a serious issue for manufacturers of Biodegradable Lidding Films. Varying prices of film materials, printing inks, and seal types are hampering the profitability of value chain participants in the global lidding films manufacturing industry. Additionally, the manufacturing cost is also affected by currency fluctuations. Changes in global supply and demand, and fluctuations in the market, exchange rates, government controls and other factors may affect the raw material prices of Biodegradable Lidding Films, particularly in the European countries where the production cost is high because of the high cost of polymers.
Some of the major players active in the global Biodegradable Lidding Films market include Rockwell Solutions, Quantum Packaging, SealMAX, Source One Packaging, Xpert Packaging Inc., Clondalkin Flexible Packaging, Innovia Films Inc., American Profol Inc., International Paper and Plastic, Huhtamaki, National Flexible, NJB PACKAGING, and others.
Since adoption of biodegradable products has increased significantly across most of the markets and industries, overall it can be concluded that growth prospect of the lidding films industry in reference to biodegradable products, is promising.