Increasing Spending On Processed Food Products By The Consumer Will Further Favor The Growth Of The Die Cut Lids Market

 

Die Cut Lids Market

Rapid growth in the dairy industry is predominantly fueling the growth of the die cut lids market. 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 percent 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. Robust growth in the organized retail sector around the globe is also contributing to the growth of the market. Due to this, there is increasing consumption of the organized retail sector around the globe. Increasing use of die-cut lids as a new marketing tool for increasing sales and enhance the visibility of the brand is again stimulating the growth of the die-cut lids market.

Increasing spending on processed food products by the consumer will further favor the growth of the market. According to the United States Department of Agriculture Economic Research Service, in 2018, Americans spent an average of 9.7 percent of their disposable personal incomes on food—divided between food at home (5.0 percent) and food away from home (4.7 percent).

1.      In January 2019, Chadwicks of Bury (part of the Clondalkin Group), has developed the company’s first transparent pre-cut lid for enhanced product appeal. The ultra-clear lid is suitable for a wide variety of products and will seal to PP, PS, and PET pots and containers.

2.      In March 2021, CCL Label, has released CANtastic, a new type of aluminum can packaging that offers maximum hygiene and ideal marketing possibilities for promotions.

The Asia Pacific is expected to dominate the global die cut lids market and this is attributed to the rise in the middle-class population in the region. According to the World Economic Forum, by 2020 Asia’s GDP will overtake the GDP of the rest of the world and by 2030, the region is projected to contribute roughly 60% of global growth. Moreover, Asia-Pacific is also contributing to the majority (90%) of the 2.4 billion new members of the middle class entering the global economy.

Die-cuts are specially made lids for canned goods, bottles, or other containers to be used in the food industry. Die-cuts are cut out from a sheet so that they have the exact shape and size of the product being packaged. Die-cut flexible lids typically are pre-made lids that are of the same size as the container like cups, trays, tins, jars, etc., and are mainly used for shipping food items, beverages, pharmaceuticals, and household cleaning products. Die-cut lidding provides additional benefits of easy peeling off, provides greater barrier towards air, light, and moisture, maintains fresh fragrance of items that are to be made into a product, and enhances the visual attractiveness of packaging

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