Global Die Cut Lids Market: Estimated Growth Beyond USD 1100 Mn by 2030, Showcasing a 6.45% CAGR | Advancing Packaging Landscape

New York, NY, Aug. 11, 2023 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled “Die Cut Lids Market By End-User (Pharmaceutical Packaging And Food & Beverages), By Type (Plastic Die Cut Lids And Paper Die Cut Lids), By Application (Trays And Cups), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” in its research database.

“According to the latest research study, the demand of global Die Cut Lids Market size & share in terms of revenue was valued at USD 660 million in 2022 and it is expected to surpass around USD 1100 million mark by 2030, growing at a compound annual growth rate (CAGR) of approximately 6.45% during the forecast period 2023 to 2030.”

What are Die Cut Lids? How big is the Die Cut Lids Industry?

Report Overview:

The global die cut lids market size was worth around USD 660 Million in 2022 and is predicted to grow to around USD 1100 Million by 2030 with a compound annual growth rate (CAGR) of roughly 6.45% between 2023 and 2030. The report analyzes the global die cut lids market drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the die cut lids industry.

Die cut lids are also referred to as pre-cut lids in some circles. They are utilised for the purpose of covering a variety of containers, including bottles, jars, trays, and cups, amongst others. Plastic, paper, or aluminium are the most common materials used to make die cut lids. The increased need for safe and reliable methods of sealing a wide variety of container types is driving up demand for the lids now being offered. This guarantees that the product that is contained within the units is kept in a state that is both safe to consume and fresh. The industry works with a variety of stakeholders who are involved in the manufacturing and distribution of lids to several end-user sectors. In recent years, the fraternity has experienced tremendous growth, rising at a constant rate, and one of the key contributors in the sector is the food and beverage industry. During the period covered by the forecast, participants in the market may anticipate an increase in the number of chances for expansion; however, they may also be required to address increased environmental concerns regarding the consumption and disposal of plastic-based die cut lids, which may have an effect on the total revenue generated by the market.

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Global Die Cut Lids Market: Growth Factors

Increasing consumer demand for portable goods is the primary development driver for the industry.

It is anticipated that the demand for portable and convenient food products will continue to rise, which will lead to expansion in the global market for die cut lids. The demand for takeaway food products or beverages or consumables that can be stored in refrigeration and consumed at a later time has increased over the years due to reasons such as changing lifestyle habits, rising incomes that can be spent on discretionary items, urbanisation, surging accessibility, and a higher awareness rate. Additionally, the demand for convenience food items has increased as a result of a higher awareness rate. The busy lifestyle trend has made it possible for industry participants to meet the needs of the modern population by supplying them with packaging solutions that can securely safeguard food goods for an extended period of time. This has allowed the industry to cater to the needs of the current population. The expansion of this industry has been noteworthy due to the fact that die cut lids are one of the most effective solutions for the transportation and storage of food. In addition to this, rising research and use of modern printing technologies have enabled for more customization and visually beautiful lids, providing industry players with a better potential for branding activities. This is a positive development for the industry as a whole.

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Report Scope

Die Cut Lids Market: Segmentation Analysis

The global market for die cut lids is broken down into many submarkets delineated by factors including end-user, type, application, and region.

Pharmaceutical packaging and food & beverage packaging make up the two primary end-user categories that divide the global market. The food and beverages (F&B) market experienced the highest growth in 2022. In this market, the product is used widely to cover and preserve a wide variety of food products, such as ready-to-eat meals, dairy products, and drinks. They make it possible to transfer food items with greater ease while also ensuring that they are stored securely. In the pharmaceutical sector, die-cut lids are utilised as a solution for packaging medical devices, pharmaceuticals, and other healthcare items. These lids can also be used for other types of healthcare products. It is anticipated that the food and beverage sector would maintain its dominant position in the industry over the period covered by the prediction. In 2019, the worldwide market for convenience foods came very close to reaching a trillion dollars.

Plastic die cut lids and paper die cut lids make up the two primary sub-categories of the global market, respectively.

Trays and cups make up the two primary application-driven categories of the global market. The section of the market that dealt with cups had the highest CAGR in 2022, despite the fact that the demand can shift based on what the lid was supposed to be used for. For example, in the cup business, the lids are what are utilised to close the cups that contain fruit, custard, yoghurt and several other kinds of snack foods. The vast majority of these cups are produced from plastic and are available in a wide variety of forms and dimensions. Paper is yet another material that is frequently selected in this category. Die cut lids are utilised in the trays industry for the purpose of providing protection for ready-to-eat food products as well as other food items such as salads, sandwiches, and main dishes. According to Statista, the yoghurt market in the United States generated close to USD 8 billion in revenue in 2022.

The global Die Cut Lids market is segmented as follows:

By End-User

• Pharmaceutical Packaging
• Food & Beverages

By Type

• Plastic Die Cut Lids
• Paper Die Cut Lids

By Application

• Trays
• Cups

Browse the full “Die Cut Lids Market By End-User (Pharmaceutical Packaging And Food & Beverages), By Type (Plastic Die Cut Lids And Paper Die Cut Lids), By Application (Trays And Cups), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030" Report At https://www.zionmarketresearch.com/report/die-cut-lids-market

Competitive Landscape

Some of the main competitors dominating the global Die Cut Lids market include - 

• Sealed Air Corporation
• Winpak Ltd.
• Clondalkin Group Holdings B.V.
• Coveris Holdings S.A.
• Berry Global Group Inc.
• Constantia Flexibles Group GmbH
• LMI Packaging Solutions Inc.
• Amcor Limited
• Bemis Company Inc.
• Accutek Packaging Equipment Companies Inc.
• Huhtamaki Group
• Chadwicks of Bury (Part of Clondalkin Group Holdings B.V.)
• RPC Group PLC
• Quantum Packaging Ltd.
• Anchor Packaging Inc.
• Rollprint Packaging Products Inc.
• Sonoco Products Company
• Ameri-Seal Inc.

 Key Insights from Primary Research:

• According to the analysis shared by our research forecaster, the Die Cut Lids market is likely to expand at a CAGR of around 6.45% during the forecast period (2023-2030).                                
• In terms of revenue, the Die Cut Lids market size was valued at around US$ 660 million in 2022 and is projected to reach US$ 1100 million by 2030.
• The die cut lids market is projected to grow at a significant rate due to the growing demand for portable food products
• Based on application segmentation, cups were predicted to show maximum market share in the year 2022
• Based on end-user segmentation, food & beverages was the leading user in 2022
• On the basis of region, North America was the leading revenue generator in 2022

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Key questions answered in this report:

• What is the market size and growth rate forecast for Die Cut Lids industry?
• What are the main driving factors propelling the Die Cut Lids Market forward?
• What are the leading companies in the Die Cut Lids Industry?
• What segments does the Die Cut Lids Market cover?
• How can I receive a free copy of the Die Cut Lids Market sample report and company profiles?

Key Offerings:

• Market Size & Forecast by Revenue | 2023−2030
• Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
• Market Segmentation – A detailed analysis By End-User, By Type, By Application, And By Region
• Competitive Landscape – Top Key Vendors and Other Prominent Vendors

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Regional Analysis:

North America to generate the highest revenue

The global die cut lids market is expected to generate the highest revenue in North America followed by Europe. The growing popularity and consumption of ready-to-eat meals along with the rising trend of on-the-go snacking is a major reason for the growth in both regions. In addition to this, the presence of key market players along with growing investment toward product innovation and advancements is crucial to regional growth both in North America and Europe.

In Asia-Pacific, the industry is steadily rising significant revenue mainly due to rising Western influence in terms of consumption of convenience food products further strengthened by busy lifestyle habits and the growing number of players offering quality food items mainly targeting the urban population. Additionally, the rapid population of India and China along with the increase in disposable income can lead to a higher CAGR during the forecast period.

By Region

• North America
  • U.S.
  • Canada
  • Rest of North America
• Europe
  • France
  • UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America

Recent Developments

• In January 2021, Tekni-Plex announced signing an agreement with PackPlus Embalagens for a distributor partnership. The latter will be responsible for the sale of formers coated DuPont Tyvek along with coated paper rollstock offerings
• In May 2022, Aluflexpack AG announced its acquisition of an 80% stake in Teko, a flexible packaging solution provider that focuses on dairy and beverage segments in Turkey and surrounding regions
• In January 2022, Oliver Healthcare Packaging announced the launch of its new range of innovative products at the Med-Tech Innovation Expo, a leading event in the UK and Ireland for showcasing medical design and technology

To know an additional revised 2023 list of market players, request a brochure of the report: https://www.zionmarketresearch.com/requestbrochure/die-cut-lids-market

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