DIE CUT LIDS MARKET ANALYSIS

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2. DIE CUT LIDS MARKET ANALYSIS • Die Cut Lids Market, By Material Type (Paper, Aluminum foil, Plastic (Polyethylene Terephthalate (PET), Polyethylene (PE), Polypropylene (PP)), Others), By Form Type (Reel, Pre-Cut), By End-User Industry (Food Products (Dairy & Dairy Products (Milk, Ice Cream, Custard, Yogurt, Cheese & Sour cream, Margarine & Butter)), Sauces, Dips, and Dressings, Meat, Poultry & Seafood, Ready to Eat Meals, Coffee, Others (Dry fruit, Snacks, etc.) Beverages (Juices, Flavored Drinks, Water, Others (Energy Drinks, etc.)), Health Care Applications Other Applications, (Chemicals, Solvents, etc.)), By Application (Cups, Trays, Bottles, Jars), and By Region (North America, Latin America, Europe, Asia-Pacific, Middle-East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2019 - 2027

3. Die-cut lids are attractive and safe packaging solutions that are basically used to increase the shelf-life of the product. They are widely used to package the food products such as curd, milk, yogurts, juices, etc. which are mainly packed in cups and thus require a lid. These lids can be used on the products such as glass, PP, PET, ceramic cups and bottles to prevent microbial contamination. The die-cut lids are produced from plastic, paper, and aluminum foils and are also easy for disposal. They offer convenience at the opening of the food product as they are easy to pull which contributing to the user-friendly nature of the product. • The global die cut lids market is projected to surpass US$ 900 million by the end of 2027, in terms of revenue, growing at CAGR of 6.0% during the forecast period (2019 to 2027).

4. Drivers • Growth in the dairy industry around the globe is predominantly fueling the market growth of die-cut lids. According to the Food and agriculture organization of the United Nations, the Global milk output in 2018 is estimated at 843 million tons, an increase of 2.2% from 2017, which is influenced by growth in the production of milk across India, Turkey, the European Union, the United States of America and Argentina. • Expanding organized retail sector around the globe is projected to propel the market growth of the die-cut lids. Due to growing the retail organized retail sector consumer is directly purchasing fermented food products such as yogurt, curd, instant soups, sipping sauces from the supermarkets. This increases product visibility. Thus, growth in the organized retail sector is expected to propel the market growth of die-cut lids. • Regionally, Asia-pacific dominated the global die cut lids market in 2018, reporting 37% market share in terms of revenue, followed by Europe and North America, respectively. • Market Restraints • The rising popularity of is affecting the demand for die cut lids packaging solution. Die-cut lids do not provide proper physical protection due to which there is a high chance of puncture and thus require very gentle handling throughout the production process which is not in the case of flexible packaging. This factor is expected to restrict the adoption of the die-cut lids which in turn hindering the market growth. • The price factor is another major concern that is restricting the adoption of die-cut lids packaging among manufacturer and this is expected to hamper the market growth over the forecast period.

5. Figure 1. Global Die Cut Lids Market, Revenue Share (%), By Regions, 2018

6. Market Opportunities • Rising use of die-cut lids as a new marketing tool for visibility of the brand and to increase the sale of the product is expected to provide enormous growth opportunity to the market of the die-cut lid over the forecast period. Many brand owners utilizing the opportunity to use printed die-cut lids as a promotional medium. Thus, die-cut lids as a new marketing tool are gaining traction in the market and this is projected to foster market growth. • Growth in the food packaging industry is expected to propel the market growth of die-cut lids in the near future. According to the Coherent Market Insights analysis, the global packaged food industry was valued at US$ 2.80 trillion in 2015 and is predicted to reach US$ 3 trillion by 2020, driven by various allied industries such as packaging. This is expected to fuel market growth over the forecast period.

7. Figure 2. Global Die Cut Lids Market – Opportunity Analysis

8. Market Trends The market of die-cut lids is experiencing an ongoing trend of various strategic mergers and acquisitions among major players seeking to expand their business on the global level. For instance, in May 2016, Constantia Flexible took over TR AlucapS.r.l., Italy’s leading dairy lidding company, to improve its brand position in Europe. Hence, the rising number of mergers and acquisitions is expected to augment the market growth over the forecast period. Growing demand for die-cut lid from health care applications for the packaging of injections and the other drugs is expected to fuel the market growth of the die-cut lid over the forecast period. The growth of the market can also be attributed to the growth of the medical packaging industry around the globe. On the basis of end-user industry, food products dominated the global die cut lids market in 2018 with around 80% of market share in terms of revenue, followed beverages and healthcare, respectively. Competitive Section Key players operating in the global die cut lids market are Amcor Limited, Bemis, Inc., Winpak Ltd., Sealed Air Corporation, CLONDALKIN GROUP, Constantia Packaging, Watershed packaging Ltd, Berry Plastics Group, Inc., Uflex Ltd., Tadbik Ltd., and Barger Packaging, Inc. Few Recent Developments Amcor Limited  In January 2015, Amcor Flexibles Launched Amcor opening feature (AOF) in child-resistant push-through blister lidding to complement the company’s diverse product portfolio in pharmaceutical packaging In January 2016, Amcor Limited acquired Deluxe Packages, a manufacturer of high-performance flexible packaging products based in North America In September 2015, Amcor Limited launched ‘AmLite’, a high-barrier and metal-free packaging product

9. Figure 3. Global Die Cut Lids Market, Revenue Share (%), By Wall Material, in 2018

10. Figure 4. Global Die Cut Lids Market – Value Chain Analysis

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