As per the latest analysis from Future Market Insights (FMI), the micro perforated films packaging market is anticipated to witness positive growth until 2023, with a 3.6% rise in revenue year over year. The market is expected to grow at a compound annual growth rate (CAGR) of 4.5% between 2023 and 2033, reaching US$ 2.28 billion by 2033. In 2023, the market is expected to reach US$ 1.46 billion. This promising trend highlights the ongoing need for microperforated films in package applications, which is being fueled by elements like rising consumer awareness, advancing technology, and an increasing focus on environmentally friendly packaging options.
Core Concepts in the Micro Perforated Films Packaging Industry
- Current Market Size: The market is valued at US$ 1.46 billion in 2023.
- Key Market Players: Bollore Group, KOROZO, Darnel Group
- Growth Potential: The market is projected to grow at a CAGR of 4.5% through 2033.
- Dominant Countries: United States, China, India
- Future Market Size: By 2033, the market is estimated to reach US$ 2.28 billion.
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Key Market Drivers and Trends:
- Extending Shelf Life with Superior Packaging: Micro perforated films are gaining popularity for their exceptional ability to extend the shelf life of food products. These films are thin sheets of polymer material with numerous tiny holes that allow air circulation, preserving the freshness and quality of packaged food. This innovative packaging method offers significant advantages over traditional methods, including improved food quality, reduced waste, and enhanced food safety.
- Expansion of Retail Chains and Urbanization: The proliferation of retail chains such as supermarkets, hypermarkets, departmental stores, and local stores, coupled with changing lifestyles and urbanization, has fueled the demand for food packaging. This trend is contributing to the rapid growth of the global micro perforated films packaging market. Favorable government reimbursement policies are further creating a conducive environment for the uptake of these films.
- Consumer Demand for Fresh and Convenient Food: The primary driver of market growth is the rising demand for fresh and convenient food products. Consumers are increasingly seeking products that are easy to prepare and can be stored for extended periods without compromising freshness and quality. Micro perforated films control the atmosphere inside the packaging, slowing down spoilage and decay processes.
- Focus on Sustainability: With growing concerns about plastic waste, there is a significant demand for sustainable packaging solutions. Micro perforated films offer a more environmentally friendly alternative to traditional packaging materials. They are lightweight, reduce food waste, and are easily recyclable, aligning with global sustainability goals.
- Advancements in Packaging Technology: Technological advancements in packaging have significantly increased the production and application of micro perforated films. Innovations in manufacturing processes and materials have led to the development of high-quality, cost-effective films, making them more accessible and appealing to consumers.
- Research and Development in Plastic Science: Companies are investing in research and development to enhance the performance of micro perforated films. This includes improving gas permeability, mechanical strength, and sealability. Such advancements are driving market growth by enabling companies to offer better and more innovative packaging solutions.
- Opportunities in Organic and Natural Food Markets: The rising demand for organic and natural food products is creating new opportunities for the micro perforated films market. These products often require specialized packaging solutions due to their susceptibility to spoilage. Micro perforated films can be customized to provide the necessary protection, extending the shelf life of organic and natural products.
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 the 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 is 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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