Between 2023 and 2033, the micro perforated films packaging market is projected to grow at a CAGR of 4.5%, potentially reaching US$ 1.46 billion in 2023 and surpassing US$ 2.28 billion by 2033.
The market is rapidly growing in response to the rising demand for fresh food and the expanding global population. The rapid increase in urbanisation in emerging countries is driving up demand for freshly packaged food. Additionally, the usage of packaged meals is growing in developing countries as a result of rising disposable income. Additionally, thanks to the benefits of micro perforated films packaging, food that has been packed can be easily transported over long distances without losing any of its quality.
Due to growing consumer preferences for wraps because they are easy to open and the increasing usefulness and shelf life of a wide variety of commercial, grocery, and medical items, micro perforated films for the packaging industry are anticipated to enjoy significant expansion. Additionally, it is anticipated that the market for micro perforated packaging films would grow as a result of altering consumer preferences and increased demand for goods with long shelf lives in end-use industries including the food and medical sectors.
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As a result of advancements in packaging technology, both the production and consumption of micro perforated films have significantly increased. The creation of cutting-edge manufacturing processes and materials has led to the production of micro perforated films of great quality and affordability. As a result, it is anticipated that customers will find them more alluring and approachable.
Due to the region’s robust and well-established food and beverage industry, the high demand for packaged fresh produce, and a strong emphasis on sustainable and eco-friendly packaging solutions, North America now holds a monopoly on the micro perforated films packaging market.
KEY TAKEAWAYS
- The market in the United Kingdom is anticipated to rise, exhibiting a CAGR of 4.9% through 2033.
- The United States dominated the market in 2022, holding a 20.2% share of the global market.
- In 2022, Japan held a 6.2% market share globally.
- With a CAGR of 5.8% over the forecast period, India is predicted to develop prominently in the market.
- The market in China is expected to proliferate, registering a CAGR of 5.7% over the forecast period.
- Germany accounted for 3.9% of the global market in 2022.
COMPETITIVE LANDSCAPE
The top manufacturers of the micro perforated films packaging market are Amcor Limited, Darnel Group, UFlex Ltd., Sealed Air Corporation, Bollore Group, NORDFOLIEN GmbH, Mondi Group, TCL Packaging Limited, KOROZO Ambalaj San, ve Tic A.S, Coveris Holdings SA, and others.
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Key players in the micro-perforated films packaging market concentrate on developing cutting-edge packaging options that can maintain the quality and freshness of perishable commodities like fresh produce and bakery goods. Through the use of recyclable materials and eco-friendly alternatives, they are investing in research and development to enhance the functionality and sustainability of micro perforated films.
RECENT DEVELOPMENTS
- In January 2023, the Duino mill in Trieste (Italy) was acquired by Mondi plc (‘Mondi’) for a total sum of US$42.95 million from the Burgo Group.
- In December 2022, Amcor declared the launch of a brand-new and cutting-edge manufacturing facility in China.
Other Key Players Operating in the Micro Perforated Films Packaging Market
- Sealed Air Corporation
- Bollore Group
- TCL Packaging Limited
- KOROZO
- Darnel Group
- Coveris Holdings SA
- NORDFOLIEN GmbH
Key Benefits for micro perforated films packaging market:
• Porter’s five forces analysis helps to analyze the potential of buyers & suppliers and the competitive scenario of the industry for strategy building.
• Major countries in each region have been mapped according to their individual revenue contribution to the global/regional market.
• It outlines the current trends and future scenario of the market from 2023 to 2033 to understand the prevailing opportunities and potential investment pockets.
• The profiles of key players along with their key strategic developments are enlisted in the report.
• The key drivers, restraints, and opportunities and their detailed impact analyses are elucidated in the study.
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Micro Perforated Films Packaging Market Segmentation
By Material Type:
- PE
- PP
- PET
- PVC
- PA
By Packaging:
- Bags
- Pouches
- Wraps/ Rolls
- Sleeves
By Technology:
- Mechanical perforation
- Laser perforation
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Australasia
- Middle East and Africa
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