NEW YORK, April 23, 2018 /PRNewswire/ — Increasing use of micro-perforated films for food packaging applications and growing adoption of different retail formats are driving the growth of the micro-perforated films market.
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The growth is further driven by the need to reduce food spoilage. 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 these films in food packaging applications, such as fresh fruits & vegetables, bakery & confectionary, and ready-to-eat food. The growing demand for convenience, healthy, and sustainable food products are creating growth opportunities for the micro-perforated films market. However, susceptibility to contamination acts as a restraint for the growth of the market.
PP: The fastest-growing segment of the micro-perforated films market, by material
PP is projected to be the fastest-growing segment of the micro-perforated films market during the forecast period (2017-2022).This segment is expected to register the highest CAGR during the forecast period.
PP is gaining popularity owing to its excellent transparency, high mechanical strength, tensile strength, and recyclability. Furthermore, the increasing use of BOPP for high-quality packaging is also expected to drive the PP based micro-perforated films market during the forecast period.
Fresh fruits & vegetables: The fastest-growing segment of the micro-perforated films market, by application
Fresh fruits & vegetables is projected to be the fastest-growing application segment of the micro-perforated films market during the forecast period (2017-2022). The need to reduce food wastage by keeping fresh fruits & vegetables fresh and extending their shelf life during the distribution of products is responsible for the rapid growth of the market.
APAC: The fastest-growing market for micro-perforated films, by region
The APAC region is projected to be the fastest-growing market for micro-perforated films during the forecast period.Growth of the micro-perforated films market in APAC is due to the fact that the region has a favorable and cost-effective manufacturing environment, significant consumer base, changing lifestyles, and expansion of multichannel retail formats.
Furthermore, increasing awareness towards the consumption of healthier and convenience food products, as well as growing exports of agricultural products to various countries are also driving the micro-perforated films market in the APAC region.
This study has been validated through primaries conducted with various industry experts globally. These primary sources have been divided into three categories, namely, by company, by designation, and by region.
• By Company Type: Tier 1 – 43%, Tier 2 – 36%, and Tier 3 – 21%
• By Designation: C-Level Executives- 21%, Director Level – 29%, and Others – 50%
• By Region: North America – 36%, Europe – 36%, APAC – 21%, and RoW – 7%
The report also provides company profiles and competitive strategies adopted by major market players, 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), among others.
Research Coverage:
The report covers the micro-perforated films market and its applications across different regions.It aims at estimating the market size and future growth potential of this market across different segments, such as material, application, and region.
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The report also includes an in-depth competitive analysis of the key market players along with their company profiles.
Reasons to buy this report:
From an insight perspective, this research report focuses on various levels of analyses — industry analysis (industry trends) and company profiles, which together comprise and discuss the basic views on the competitive landscape; emerging and high-growth segments of the micro-perforated films market; high-growth regions; and market drivers, restraints, challenges, and opportunities.
The report provides insights on the following pointers:
• Market Penetration: Comprehensive information on micro-perforated films offered by the top players in the global micro-perforated films market
• Product Development/Innovation: Detailed insights on upcoming technologies, R&D activities, and new product launches in the global micro-perforated films market
• Market Development: Comprehensive information about lucrative emerging markets – the report analyzes the markets for micro-perforated films across regions
• Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the global micro-perforated films market
• Competitive Assessment: In-depth assessment of strategies, products, and manufacturing capabilities of the leading players in the global micro-perforated films market
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