The micro perforated films packaging market is expected to grow at a compound annual growth rate (CAGR) of 4.5% between 2023 and 2033. The market value is projected to reach approximately US$ 1.46 billion in 2023 and surpass US$ 2.28 billion by 2033.
The market is experiencing rapid growth driven by the increasing demand for fresh food and the expanding global population. The rise of urbanization in emerging countries is fueling the demand for freshly packaged food, while developing countries are witnessing a growing consumption of packaged meals due to higher disposable incomes. Micro perforated films packaging allows for easy transportation of packed food over long distances without compromising its quality.
The market for micro perforated films packaging is expected to expand significantly due to consumer preferences for convenient packaging that is easy to open, as well as the extended shelf life it provides for various commercial, grocery, and medical products. Changing consumer preferences and the increased demand for goods with longer shelf lives in industries such as food and medical sectors are also driving the growth of the micro perforated films market.
Advancements in packaging technology have contributed to the increased production and consumption of micro perforated films. The development of innovative manufacturing processes and materials has led to the production of high-quality and cost-effective micro perforated films, making them more attractive and accessible to customers.
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North America currently dominates the micro perforated films packaging market. This is primarily due to the region’s robust and well-established food and beverage industry, high demand for packaged fresh produce, and a strong emphasis on sustainable and eco-friendly packaging solutions. However, it is worth noting that the market is dynamic and subject to changes, and other regions may experience significant growth in the future.
Overall, the micro perforated films packaging market is expected to witness substantial growth driven by the demand for fresh food, changing consumer preferences, and advancements in packaging technology.
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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