The die-cut lids market is displaying impressive growth over the past couple of years due to increased consumption of packaged food and beverages across the globe. Die-cut flexible lids are generally pre-cut lids to the size of the container such as cups, trays, jars, etc. and are primarily used for packaging food products, beverages, and healthcare products.
Die-cut lids offer advantages of easy peeling, provide barrier towards light, oxygen, and moisture, and maintain aroma of food products which are expected to create significant growth opportunities for players in this market. Apart from this, cost-effectiveness, temperature sustainability, and light in weight features of die-cut lids is expected to have a positive impact on their adoption for packaging needs.
TMR estimates that the global die-cut lids market is expected to be valued at US$852.2 mn by 2025 increasing from a valuation of US$515.2 mn in 2016 at a CAGR of 5.9% between 2017 and 2025. The die-cut lids market is expected to rise at a CAGR of 5.2% between 2017 and 2025 in terms of volume.
The material type segments of the global die-cut lids market are paper, plastic, aluminum, and others. Of these, aluminum is expected to be the most attractive segment and account for 68.8% of the market by the end of 2017. Food products is expected to display the leading growth rate over the forecast period with the segment accounting for 80.4% of the market by the end of 2017.
The report studies the global die-cut lids market with respect to the regional markets of North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Asia Pacific is anticipated to be the most attractive market displaying a CAGR of 7.0% between 2017 and 2025.
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The key factor stoking growth of the die-cut lids market is burgeoning demand for dairy products such as yoghurt and cheese. The importance for safe and attractive packaging to increase the shelf life of dairy products not found in primary packaging has led to the adoption of die-cut lids packaging.
The market for die-cut lids is expected to benefit significantly by the growth of organized retail. With the revival of the global economy, consumers are spending substantial amounts on packaged foods such as desserts, dipping sauces, and instant soups directly from super markets or super stores.