The global micro-perforated films market is estimated at USD 1.23 Billion in 2017 and is projected to reach USD 1.50 Billion by 2022, at a CAGR of 4.0% between 2017 and 2022. The market is witnessing growth due to the increasing use of micro-perforated films in food packaging applications.
The report "Micro-Perforated Films Market by Material(PE, PP, and PET), Application (Fresh Fruits & Vegetables, Bakery & Confectionery, and Ready-to-eat Food), and Region (North America, Europe, APAC, Middle East & Africa, and South America)-Global Forecast to 2022"
Growing need for the reduction of food spoilage and increasing adoption of different retail formats in emerging countries is expected to drive the micro-perforated films market. In addition, the need to keep food products fresh and extend their shelf life across the supply chain is also expected to support the demand for micro-perforated films.
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PE: The largest material segment in the micro-perforated films market
PE based micro-perforated films are estimated to lead the material segment in 2017. The large share of PE is due to its wide usage in food packaging applications owing to properties, such as high transparency, high tensile strength, puncture resistance, superior impact strength, and cost-effectiveness.
Fresh fruits & vegetables: The largest application segment of the micro-perforated films market
Fresh fruits & vegetables is estimated to be the largest segment of the micro-perforated films market, by application in 2017. The large market share of fresh fruits & vegetables is due to the extensive use of micro-perforated films to pack fresh produce in order to keep the packed product fresh during the distribution of products.
The use of these films in packing fresh fruits & vegetables helps in extending the shelf life of products, as the perforations help in balancing the O2 and CO2 levels due to the circulation of air, which prevents vapor formation.
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North America: The largest micro-perforated films market, by region
The North American region is estimated to be the largest market for micro-perforated films in terms of value, in 2017. The high consumption of micro-perforated films in the region is attributed to the high disposable incomes, growth in demand for convenience food, improvement in economic conditions, and increase in consumption of packaged food.
In addition to this, growing demand for healthier and convenience food products, technological advancements and innovations in the packaging industry, along with the higher penetration of retail formats are also expected to drive the market in the region.
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Micro-perforated film manufacturers, such as Mondi (Austria), Amcor Limited (Australia), Sealed Air Corporation (US), Bollore Group (France), Uflex Ltd. (India), TCL Packaging (UK), Coveris Holdings S.A.
(US), Amerplast (Finland), Aera (France), and Now Plastics (US), are covered in the report.
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