As per the latest analysis from Future Market Insights (FMI), the micro perforated films packaging market is anticipated to foresee steady growth until 2023, with a 3.6% annual increase in revenue. Between 2023 and 2033, the market is projected to expand at a compound annual growth rate (CAGR) of 4.5%, reaching US$ 2.28 billion by that time. The market is anticipated to reach US$ 1.46 billion in 2023. This encouraging trend emphasizes the continued need for microperforated films in package applications, which is being driven by factors such as growing consumer consciousness, technological advancements, and a growing emphasis on packaging solutions that are environmentally benign.
One of the main market drivers is the increased emphasis on sustainability and environmental preservation. Because plastic packaging plays a significant part in the global plastic waste problem, there is a growing need for eco-friendly packaging alternatives. Microperforated films are becoming a more sustainable option for packaging than traditional materials since they are lightweight, easily recyclable, and can reduce food waste. This makes them a preferred choice for companies and customers alike, in an effort to lessen the environmental impact of traditional plastic packaging, and it also corresponds with the increasing consciousness of and commitment to environmentally responsible packaging methods.
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Key Takeaways:
- The market in the United Kingdom is expected to rise with a CAGR of 4.9% through 2033.
- The United States dominated the market in 2022, holding a 20.2% share of the global market.
- Japan held a 6.2% market share globally in 2022.
- India is predicted to develop prominently in the market, with a CAGR of 5.8% over the forecast period.
- 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, C
- overis Holdings SA, and
- others.
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.
Opportunities for Micro Perforated Films Packaging in Key Markets
- United States: Lucrative market driven by food spending and sustainability focus. Increased demand for convenient, healthy, and fresh food options, along with a rise in e-commerce, contributes to market growth.
- Brazil: Growing market fueled by specific consumer preferences. Esthetics, convenience, quality, safety, and sustainability in food packaging align with benefits offered by micro perforated films, meeting demands of budget-conscious consumers.
- China: Exponential market growth driven by e-commerce and health focus. The packaging industry expands rapidly with the growth of e-commerce giants and the emphasis on health and wellness, increasing the demand for micro perforated films.
- India: Environmental regulations influence micro perforated films sales. Ongoing environmental regulations and efforts to ban certain plastic packaging drive adoption of micro perforated films, addressing concerns related to recyclability and wastage.
- United Kingdom: Steady growth supported by population increase and e-commerce. Increasing population and rise of convenience foods drive market expansion, particularly in the food and beverage industry.
- Germany: Focus on sustainability and food waste reduction drives market. Strict regulations on food safety and packaging waste reduction encourage adoption of sustainable packaging solutions like micro perforated films.
- Japan: Sustainable packaging demand propels market surge. Increasing popularity of ready-to-eat meals and demand for sustainable and eco-friendly packaging contribute to market opportunities, meeting the country’s focus on food safety and waste reduction initiatives
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Market Segmentations
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
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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