Future Market Insights (FMI) has released a new market analysis indicating that the micro perforated films packaging market is poised for substantial growth. The market is expected to develop positively through 2023, with global sales increasing by 3.6% year over year. Valued at USD 1.46 billion in 2023, the market is projected to surpass USD 2.28 billion by 2033, exhibiting a compound annual growth rate (CAGR) of 4.5% from 2023 to 2033.
The primary driver of market dynamics is the growing customer preference for quickly prepared food items with longer shelf lives, which is driving an increase in the demand for fresh and convenient food goods. Micro-perforated films, which control the internal environment of the package to maintain freshness and quality, have responded to the rise in popularity of these products. These films satisfy the growing customer demand for food products that stay handy and fresh for longer periods of time by successfully slowing down the deterioration and spoiling processes, in line with modern lifestyle needs.
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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.
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
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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
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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