The global Micro-Perforated Film Market was valued at USD 1.27 Billion in 2018 and is expected to reach USD 1.75 Billion by the year 2026, at a CAGR of 4.1%. In packaging, along with protective functionality, the packaging material is expected to let the product breathe, which is not facilitated by most of the packaging material. However, micro-perforated films provide a solution to this issue. In Micro-perforated technology, the film is pierced with grids of pin-sized holes, thus adding a longer shelf-life and other functionalities to a wide range of products from commercial to daily household products. Micro-perforated films reduce the spoilage of food products and enable them to stay fresh for a more extended period. Thus the growing need to increase the life of products and usage of micro-perforated films across a wide range of applications is expected to drive the growth of the Micro-perforated films market. The growing demand for convenience, fresh, and healthy food products is expected to generate significant opportunities for emerging market players. For perishable food, there lies the risk of contamination that is more susceptible to grow fungus and bacteria on the presence of moisture in the food package.
With up to 40% of all fresh food produced is discarded, food wastage in the western world is high. It is a significant cost factor for the companies in the value chain. The consumer here who use to spend their money are now effectively reducing their purchasing power, and thereby, it raises concern for the government on how to feed the world population. To overcome this situation, a new system of micro-perforation packaging has been developed to prevent the food wastage, which has impressive results, has longer shelf-life, and maintains optimal product quality. The industry has witnessed soaring demand for micro-perforated packaging material for the packaging of fruits and vegetables in the form of film and laminates.
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Key Manufacturers in the Global Micro-Perforated Films Market:
Mondi(Austria), Amcor Limited (Australia), Sealed Air Corporation (U.S), Bollore Group (France), Uflex Ltd (India), TCL Packaging (UK), Coveris Holdings S.A. (US), Amerplast (Finland), Aera (France), Now Plastics (US)
Further key findings from the report suggest
- Micro-Perforated films market is growing at a CAGR of 2% in the Asia Pacific, followed by North America and Europe, with 3.4 % and 3.6% CAGR, respectively. The high CAGR of Asia Pacific is majorly driven by China, which was the primary producer and consumer of micro-perforated films in 2017.
- As of 2018, Polyethylene is the dominating Micro-Perforated film, which holds 36 % of the global market. Asia Pacific regional market is the chief revenue-generating source for this product segment.
- Micro-perforated film materials like polymers did not allow the selective exchange of gas, while modified perforated films produced from high barrier packaging can be edited considering the respiratory activity of the produce.
- Asia Pacific is expected to grow with the highest CAGR of 5.2% in the global Micro-Perforated film market. Developing nations such as China and India are likely to witness high growth owing to an increase in packaging applications in the food industry.
- Associated side effects related to Micro-Perforated films and strict regulations on the usage of plastics pertaining to the environmental damage caused by waste plastics are anticipated to hinder the micro-perforated market growth.
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For this report, Reports and Data have segmented the Micro-Perforated Films Market based on material type, application type, and region:
Material Type (Revenue in USD Million; Volume in Kilo Tons 2016–2026)
- Polyethylene (PE)
- Polypropylene (PP)
- Polyethylene Terephthalate (PET)
- Others
Applications Type (Revenue in USD Million; Volume in Kilo Tons 2016–2026)
- Fresh Fruits and Vegetables
- Bakery & Confectionary
- Ready-to-eat Foods
- Others
Highlights of the TOC:
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.3. Methodology
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2018 – 2026
Chapter 3. Indicative Metrics
3.1. Customization and innovations in micro-perforated films market
3.2. Increase in adoption of micro-perforated films across the globe
3.3. Government rules & regulations on the usage of plastic
3.4. Environmental concerns
Chapter 4. Micro-Perforated Films Segmentation & Impact Analysis
4.1. Micro-Perforated Films Segmentation Analysis
4.2. Micro-Perforated Films Market Value Chain Analysis, 2016-2026
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