According to the current analysis of Reports and Data, the global Micro-Perforated Films Packaging Market was valued at USD 1,385.5 Million in 2020 and is expected to reach USD 1,883.5 Million by the year 2028, at a CAGR of 3.9%. In packaging, along with protective functionality, the packaging material is expected to let the product breathe, which is not facilitated by most of the packaging material. However, Micro Perforated Films Packaging provide a solution to this issue. In Micro-perforated technology, the film is pierced with grids of pin-sized holes, thus adding a longer shelf-life and other functionalities to a wide range of products from commercial to daily household products. Micro Perforated Films Packaging reduce the spoilage of food products and enable them to stay fresh for a more extended period. Thus the growing need to increase the life of products and usage of Micro Perforated Films Packaging across a wide range of applications is expected to drive the growth of the Micro Perforated Films Packaging market. The growing demand for convenience, fresh, and healthy food products is expected to generate significant opportunities for emerging market players. For perishable food, there lies the risk of contamination that is more susceptible to grow fungus and bacteria on the presence of moisture in the food package.
With up to 40% of all fresh food produced is discarded, food wastage in the western world is high. It is a significant cost factor for the companies in the value chain. The consumer here who use to spend their money are now effectively reducing their purchasing power, and thereby, it raises concern for the government on how to feed the world population. To overcome this situation, a new system of micro-perforation packaging has been developed to prevent the food wastage, which has impressive results, has longer shelf-life, and maintains optimal product quality. The industry has witnessed soaring demand for micro-perforated packaging material for the packaging of fruits and vegetables in the form of film and laminates.
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Top Players in the Global Micro Perforated Films Packaging Market:
- Amcor Limited (Australia)
- Sealed Air Corporation (U.S)
- Bollore Group (France)
- Uflex Ltd (India)
- TCL Packaging (UK)
- Coveris Holdings S.A. (US)
- Amerplast (Finland)
- Aera (France)
- Now Plastics (US)
Further key findings from the report suggest
- Micro Perforated Films Packaging market is growing at a CAGR of 2% in the Asia Pacific, followed by North America and Europe, with 3.4 % and 3.6% CAGR, respectively. The high CAGR of Asia Pacific is majorly driven by China, which was the primary producer and consumer of Micro Perforated Films Packaging in 2017.
- As of 2020, Polyethylene is the dominating Micro-Perforated film, which holds 36 % of the global market. Asia Pacific regional market is the chief revenue-generating source for this product segment.
- Micro-perforated film materials like polymers did not allow the selective exchange of gas, while modified perforated films produced from high barrier packaging can be edited considering the respiratory activity of the produce.
- Manufacturers of Micro Perforated Films Packaging are adopting new strategies and technologies to increase their market share. For example, Helion, a key player in the Micro Perforated Films Packaging market, developed a micro-perforated technology to produce a wide range of pin-hole diameters and grid patterns. Additionally, it is also the first company in China to give customized pin-hole rotary tooling.
- Tooling equipment used for the piercing of the Micro Perforated Films Packaging are difficult to manufacture due to there is a lack of competitive manufacturers in the market.
- Asia Pacific is expected to grow with the highest CAGR of 5.2% in the global Micro-Perforated film market. Developing nations such as China and India are likely to witness high growth owing to an increase in packaging applications in the food industry.
- Associated side effects related to Micro Perforated Films Packaging and strict regulations on the usage of plastics pertaining to the environmental damage caused by waste plastics are anticipated to hinder the micro-perforated market growth.
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Global Micro Perforated Films Packaging Market Segmentation:
Material Type (Revenue USD Million; Volume in Kilo Tons 2020–2028)
- Polyethylene (PP)
- Polypropylene (PP)
- Polyethylene terephthalate (PET)
Applications Type (Revenue USD Million; Volume in Kilo Tons 2020–2028)
- Fresh Fruits Vegetables
- Bakery Confectionary
- Ready-To-Eat Food
Global Micro Perforated Films Packaging Market Report: Regional Segmentation
- North America
- Asia Pacific
- Latin America
- Middle East Africa
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Key Benefits of Buying the Global Micro Perforated Films Packaging Report:
- Comprehensive analysis of the changing competitive landscape
- Assists in decision making processes for the businesses along with detailed strategic planning methodologies
- The report offers an 8-year forecast and assessment of the Global Micro Perforated Films Packaging Market
- Helps in understanding the key product segments and their estimated growth rate
- In-depth analysis of market drivers, restraints, trends, and opportunities
- Comprehensive regional analysis of the Global Micro Perforated Films Packaging Market
- Extensive profiling of the key stakeholders of the business sphere
- Detailed analysis of the factors influencing the growth of the Global Micro Perforated Films Packaging Market
Frequently Asked Questions Answered in the Report:
- What is the estimated revenue growth rate of the global Micro Perforated Films Packaging market over the forecast period?
- What are the major factors driving the global market revenue growth?
- Which are the leading manufacturers and suppliers in the global Micro Perforated Films Packaging market?
- Which regional market is expected to lead in terms of revenue share in the global Micro Perforated Films Packaging market over the forecast years?
- What are the key outcomes of SWOT analysis and Porter’s Five Forces analysis of the market?
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