An increasing need for reduction in food spoilage and the adoption of new packaging formats by emerging economies.

NEW YORK, NY, UNITED STATES, September 27, 2021 /EINPresswire.com/ -- The current analysis of Reports and Data, 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.

Significant components that are triggering the growth of micro-perforated films include the growing need for reduction of food spoilage, improving the shelf-life of the food products, increasing need to keep the food fresh, and the adoption of new packaging materials and patterns by different countries across the globe. The manufacturers are adopting new technologies and strategies to maintain their position in the market. For example, Helion, one of the companies producing perforated packaging films, was the first company in China to offer customization in the materials, grid patterns, and diameter of the pin-holes in their perforated films. However, associated side effects and environmental concerns pertaining to the usage of plastics in packaging applications of grocery, food products, and beverages are the major hindrances for market growth during 2019-2026.

Companies considered and profiled in this market study:

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)

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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

Regional Outlook (Revenue in USD Million; Volume Kilo in Tons 2016–2026)

North America

U.S

Canada

Europe

Germany

France

U.K.

Spain

Italy

Rest of Europe

Asia Pacific

China

India

Japan

Rest of Asia-Pacific

Middle East & Africa

Latin America

Brazil

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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.

Manufacturers of micro-perforated films are adopting new strategies and technologies to increase their market share. For example, Helion, a key player in the Micro-perforated films market, developed a micro-perforated technology to produce a wide range of pin-hole diameters and grid patterns. Additionally, it is also the first company in China to give customized pin-hole rotary tooling.

Tooling equipment used for the piercing of the micro-perforated films are difficult to manufacture due to there is a lack of competitive manufacturers in the market.

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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Table of Content:

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

Continue…

Key Questions Answered in this Research Study:

What is the global production, production value and consumption value?

Who are the global key manufacturers of the market? How are their operating situation?

What are the types and applications of market?

What are the upstream raw materials and manufacturing equipment?

What will be the market size and the growth rate be in 2028?

What are the key factors driving the market?

What are the key market trends impacting the growth of the market?

What are the challenges to market growth?

What are the market opportunities and threats faced by the vendors in the market?

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Customization on the report is available according to the requirements of the user to ensure maximum utility to the reader and an increased level of comprehensibility.

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Tushar Rajput
Reports and Data
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