The micro perforated films packaging market is anticipated to expand at a CAGR of 4.5% between 2023 and 2033, possibly reaching US$ 1.46 billion in 2023 and surpassing US$ 2.28 billion by 2033.
With the growing population and ever-increasing demand for fresh food, the market is significantly expanding. The demand for freshly packaged food is rising promptly as a result of the expanding urbanization of emerging nations. Furthermore, the use of packaged foods is increasing in emerging nations due to increased disposable income. Additionally, given the advantages provided by micro perforated films packaging, packed food can be conveniently carried over great distances without any alteration to the food’s quality.
Micro perforated films for the packaging sector are expected to experience prominent growth due to expanding customer preferences for wraps since they are simple to open and the increasing usefulness and shelf life of a wide variety of commercial, supermarket, and medical items. Additionally, the market for micro perforated films for packaging is estimated to expand due to changing lifestyles and rising demand for products with long shelf lives in end-use sectors, including the food and medical industries.
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The manufacturing and consumption of micro perforated films have substantially grown as a result of technological breakthroughs in the packaging industry. Micro perforated films of excellent quality and affordability have been produced as a result of the development of novel manufacturing techniques and materials. Customers are expected to find them more enticing and approachable as a result.
North America dominates the micro perforated films packaging market owing to factors such as the region’s strong and well-established food and beverage industry, the high demand for packaged fresh produce, and a strong focus on sustainable and eco-friendly packaging solutions.
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.
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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.
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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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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