Based on research by Future Market Insights, the global die-cut lids market is anticipated to be valued at US$ 712.4 Million in 2022, and it is expected to exhibit a Compound Annual Growth Rate (CAGR) of 5.3% throughout the forecast period, reaching a market valuation of US$ 1,194.0 Million by 2032. Projections suggest that the top three countries will collectively contribute to 30-35% of the total global die-cut lids market revenue by the conclusion of 2022.
The Indian market holds the potential to significantly boost the demand for the die-cut lids market. With a projected Compound Annual Growth Rate (CAGR) of 6.1% between 2022 and 2032, the expansion of India’s paper industry plays a pivotal role. As the paper industry grows rapidly, it fuels a higher demand for die-cut lids, particularly in the packaging and labeling of various products.
India’s position as the world’s largest milk producer, responsible for 22% of global dairy production, according to the Food and Agriculture Organization of the United Nations, further stimulates the die-cut lids market. The easy availability of raw materials in India facilitates the production of finished products such as ice cream cups, milkshakes, yogurt, and various liquid products, thereby creating positive growth opportunities for the global die-cut lids market.
In the case of GCC (Gulf Cooperation Council) countries, particularly Saudi Arabia, their substantial oil reserves and production capacities offer a unique demand driver for the die-cut lids market. Saudi Arabia holds 15% of the world’s total oil reserves, with a daily capacity of 12 million barrels, as per the USA Energy Information. Given the hazardous nature of oil and lubricants during transportation, die-cut lids are essential to reduce wastage and ensure safe storage. By protecting oil and lubricant containers, die-cut lids enhance inventory efficiency and prevent product deterioration. The growth in oil exports within the GCC countries contributes to increased demand for protective packaging, further bolstering the die-cut lids market.
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The Major Key Players Are:
- Quantum Packaging Limited
- Winpak, Ltd.
- Constantia Flexibles Group GmbH
- Amcor Limited
- Watershed Packaging Ltd
- Swan Packaging, Inc.
- Clondalkin Group Holdings B.V.
- Sealed Air Corporation
- Uflex Ltd.
- Berry Global Group
- Tadbik Ltd.
- Placon
- Liplid
- BALLERSTAEDT & CO. OHG
- Chadwicks
Competitive Landscape
The major players in the global thermoformed packaging market are trying to focus on expanding their production capacity by investing in their existing facilities to cater to the growing demand for the die-cut lids market. Also, the key players are focusing on developing sustainable and innovative products to meet the demand for sustainable packaging. Some of the recent developments by the players are:-
- In March 2021, Liplidwas recently awarded as the world’s best coffee cup lid. They are now planning to collaborate with restaurant chain MAX burger.
- In February 2021, Constantia Flexibles Group GmbH launched a new product named Ecopeel-cover. It is recyclable and has high barrier properties and therefore can be used in various application areas.
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Die Cut Lids Market by Category
By Material, Die Cut Lids Market is Segmented as:
- Plastic
- Paper
- Metal
By Application, Die Cut Lids Market is Segmented as:
- Cups
- Bottles
- Jars
- Trays
- Other Containers (Bowls, etc.)
By End Use, Die Cut Lids Market is Segmented as:
- Food & Beverage
- Pharmaceutical
- Cosmetics & Personal Care
- Chemical & Fertilizers
- Oil & Lubricants
By Region, Die Cut Lids Market is Segmented as:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Middle East & Africa
- Oceania
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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