Micro-Perforated Films Market Size, Share and Forecast (2021 - 2028)
Added: (Tue Nov 16 2021)
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Market Overview
Micro-Perforated Films are flexible films with micro-perforations. The Micro-perforated film allows air to flow between the external environment and the packaged product. This helps in preventing the accumulation of vapor inside the packaging. It also keeps the packaged product fresh. The packaged product is also comfortable to handle and retains optimum hygiene conditions.
The Global Micro-Perforated Films market was valued at USD xx million in 2017 and is estimated to grow with a CAGR of 5.2 % during the forecast period from 2019 to 2026.
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Market Drivers and Restraints
The Global Micro Perforated Films Market is growing due to the increasing use of these films in food packaging applications like Fruits & Vegetables, bakery & confectionary foods and ready-to-eat food. The rising demand for convenience, healthy and sustainable food products are creating growth opportunities for the micro-perforated film market.
However, susceptibility to contamination can act as a restraint for the growth of the market.
Market Segmentation Analysis
The Global Micro-Perforated Films Market report segments the market by type and application. Type segment includes Polypropylene (PP), Polyethylene (PE), Polyethylene Terephthalate (PET) and others. PE Micro-Perforated film is the leading segment owing to its extensive and increasing use in food packaging applications. However, the PP Micro-Perforated film is estimated to register the highest growth during the forecast period. The demand for PP Micro-Perforated films is increasing because of its low price, high strength, recyclability and excellent transparency. Also, the increasing use of Biaxially-oriented Polypropylene (BOPP) for high-quality packaging is driving the market for PP Micro-Perforated films.
Further, the application segment consists of Fresh Fruits & Vegetables, Bakery & Confectionary, Ready-to-eat Food, and others.
Geographical Share
The report segments the market based on the geographic region which includes North America, South America, Europe, Asia-Pacific and Rest of the World. North America holds the largest market share due to the increasing awareness for the consumption of healthy & convenience foods, and presence of major manufacturers in the region. The convenience food segment revenue in the United States increased from USD 53,324 million in 2012 to USD 65,153 million in 2017, and it is expected to grow in the same fashion during the forecast period from 2018 to 2025; which will upsurge the demand for micro-perforated films in the region.
Asia-Pacific is anticipated to be the fastest growing region during the forecast period. The rapid growth of the micro-perforated film market in Asia-Pacific can be attributed to the broad consumer base, expansion of multichannel retail formats, increasing awareness towards the consumption of convenience foods and rising demand for ready-to-eat foods are escalating the need for Micro-Perforated films. Besides, the growing exports of fruits & vegetables in the region is also contributing to the growth of micro-perforated film market in APAC.
Market Key Players
The Global Micro-Perforated Films market report profiles the following companies-
Mondi, Amcor, Bollore, Uflex, Sealed Air, Tcl Packaging, Now Plastics, Coveris Holdings, Amerplast, and Aera.
Key market segments covered for Micro-Perforated Films Market
By Type
• Polypropylene (PP)
• Polyethylene (PE)
• Polyethylene Terephthalate (PET)
• Others
By Application
• Fresh Fruits & Vegetables
• Bakery & Confectionary
• Ready-to-eat Food
By Region
• Asia Pacific
• Europe
• North America
• South America
• Rest of the World
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