Industries > Packaging > Micro-Perforated Food Packaging Market Report 2019-2029
Micro-Perforated Food Packaging Market Report 2019-2029
A Global Micro-Perforated Food Packaging Market Estimate and Forecast – Industry Insights for Consumption, Demand, Production, Price Trend, Competitive Intelligence and Opportunity Analysis Along the Value Chain
The global micro-perforated food packaging market was valued at $1.4 billion in 2018. Increasing consciousness among the consumers pertaining to healthy food and extensive growth in retail sector is thereby driving the growth of the global micro-perforated food packaging market. Micro-perforated food packaging controls the rate of vapour transmission since this packaging has an ability to provide suppliers with case ready products and further provides flexible packaging films to the manufacturers.
Micro-perforated food packaging technology helps the suppliers to attain optimum shelf life of the product and deducing the chances of decay of product in the supply chain. Additionally, right packaging and storage temperature can thus create favourable conditions for product that will help in reducing the aging and maturation thereby availing improved quality products to the consumers. With several advantages offered by micro-perforated packaging is thereby strengthening the growth of the global micro-perforated food packaging market considerably.
Rapid expansions in retail industry are the key factor pertaining towards the growth of the global micro-perforated food packaging market. In the present scenario, the consumers are facing more demands on attention, and time and success of any particular brand is dependent upon stocking, demand attention, ensure availability of product in perfect condition along with easier management of inventory. Additionally, the retail-ready and shelf-ready packaging supports the retailers and manufacturers to avail products to the consumers faster and thus ensures shelf-ready packaging benefits for retailers.
Furthermore, perforated packaging ensures shelf ready products that could be easily placed and displayed on a shelf and thus enables easy shopping for the customers by availing those products to them in the form of small boxes, pouches, jars, and cans. This enhanced use in retail sector is thereby strengthening the growth of the global micro-perforated food packaging market. However, increasing demand for alternate food packaging products is thus hampering the growth of the global micro-perforated food packaging market.
Micro-perforated food packaging market forecast 2019 – 2029 estimates the historical market size in terms of consumption as well as revenue generated by the industry players across the globe. It offers the opportunity analysis along the value chain for the micro-perforated food packaging manufacturers. Also, the report offers the vendor analysis along with price trend which provides an edge to the stakeholders especially manufacturers to create a better understanding of the market. Bakery & confectionery, fruits & vegetables, ready-to-eat and other industry players benefit from the product benchmarking and matrix helping them to take right decision in choosing the right product with optimum prices suited for their end use applications.
The reports provide the analysis based on material and application segment. On the basis of material, the global micro-perforated food packaging market is segmented into polypropylene, polyethylene, PET and others. Among all these segments, polypropylene segment is anticipated to witness highest CAGR during the forecast period. Polypropylene is extensively being utilized worldwide in various applications such as packaging for consumer products, developing plastic parts for several industry domains such as automotive domain. Furthermore, this material provides massive transparency to the food product thereby making it extremely popular among the consumers.
Based on application, the global micro-perforated food packaging market is categorised into bakery & confectionery, fruits & vegetables, ready-to-eat and others. Among all these segments, micro-perforated food packaging observed enhanced application in fruits & vegetables and is thereby generating largest revenue throughout the estimated period. Micro-perforated packaging is excessively being utilized in enhancing the shelf life of the fruits and vegetable and thus improving the moisture retention ability of the products.
The micro-perforated food packaging market in North America is the largest revenue holder throughout the estimated period. The growth of micro-perforated food packaging in this region is attributed towards introduction of stringent regulations implemented by the government authorities to eradicate the consumption of conventional plastic is thereby stimulating the manufacturers to produce various plastic products. Additionally increasing demand for plastic packaging sheets and films along with increasing acceptance of healthy products by the consumers is thus escalating the demand for micro-perforated food packaging market in this region.
Ever-increasing population and increasing disposable income of the citizens is thus estimated to enhance market growth of micro-perforated food packaging market in Asia-Pacific thus projected to witness highest CAGR during the forecast period. Rapid expansion in retail segment and technological advancements in micro-perforated food packaging technique in the region is thereby further strengthening the growth of micro-perforated food packaging market in this region.
The report also offers the insights for the European, Latin American, and Middle East and African Market. A detail analysis of historic and forecast consumption data, revenue in the market and competitive analysis for major competitors in each region is also provided.
The global players operating in micro-perforated food packaging market are undertaking market skimming and penetration strategy in order to make consumer accessible with competive prices and are further innovating their existing offerings in order to tap large consumer base in future. Some of the players having prominent presence in the global micro-perforated food packaging market include Ultraperf Technologies Inc., COVERIS, Mondi plc, Sealed Air Corporation, KM Packaging Services Ltd., Amcor Limited, Bolloré Group, TCL Packaging, Uflex Ltd., and Amerplast Ltd.
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