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The micro perforated films market is estimated to grow at a CAGR of 4.78% between 2022 and 2027. The size of the market is forecast to increase by USD 264.31 million. The growth of the market depends on several factors, including the rising demand for plastic films in meat packaging, the growing European imports of frozen foods, and the rising regulatory measures to control food wastes
This report extensively covers market segmentation by material (PE, PP, PET, and others), application (fresh fruits and vegetables, bakery and confectionary, ready-to-eat food, and others), and geography (APAC, North America, Europe, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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The rising demand for plastic films in meat packaging is notably driving market growth, although factors such as volatility in raw material prices may impede market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The rising demand for plastic films in meat packaging is key factor driving the growth of the global micro perforated films market. Demand for plastic films for meat packaging is expected to continue to be strong in the future, as microperforated films are used as stretch films and shrink films for raw meat products. Certain properties of plastic films improve the shelf life of raw meat products. Additionally, plastic film can reduce overall transportation and storage costs compared to other types of packaging.
This will encourage fresh meat product manufacturers across the world to adopt plastic film-based packaging for their products. The US shows notable growth in the use of plastic film for fresh meat packaging. The rising adoption of plastic pouch packaging for fresh meat in the US is a major reason that is increasing the demand for plastic films in the US. Thus, the increasing use of micro perforated films in meat packaging will boost the growth of the market in focus during the forecast period.
The growing confectionary market in North America is the primary trend in the global micro perforated films market growth. The vendors in the market are diversifying their portfolios depending on the changing consumer trend. The US is the key player in this market in this region. The confectionery manufacturers in the US are focusing on merger and acquisition (M&A) activities to gain more market share. The growth of the confectionery market in the US is expected to increase the demand for micro-perforated PP packaging films as these are the commonly used films for packing bread, cakes, and sandwiches. The specifications for perforating each product are different.
For example, fresh crusty bread items require a higher density of perforation than sliced bread (require one hole per centimeter square of the film). Therefore, the micro perforated film vendors in the confectionery market in the US are expected to witness a rise in demand for customized micro perforated packaging films, which will contribute to the growth of the market in focus during the forecast period.
The volatility in raw material prices is a major challenge to the growth of the global micro perforated films market. The cost of the raw materials used in packaging solutions is one of the major factors that determine the cost of the end products. PP, LDPE, biaxially-oriented polypropylene (BOPP), and biaxially-oriented polyethylene terephthalate (BOPET) are the commonly used micro perforated films. The raw materials required for these films are polymers. Hence, they are exposed to the risk of price volatility owing to the supply and demand gap in the crude oil sector across the world.
Moreover, these fluctuations in raw material price will also have an adverse impact on the vendors of micro perforated films as it increases their operating expenses. The vendors of micro perforated films can transfer the cost burden to the end-users only to a certain extent as they need to retain their customer base. However, these vendors can reduce the risk of fluctuating raw material prices by investing in proper commodity hedging instruments in the financial derivatives market. Thus, volatility in raw material prices is likely to impede the growth of the global micro perforated films market during the forecast period.
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Micro Perforated Films Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
ACE Plastics Co. Ltd. - The company offers micro perforated films for bakery, confectionery, frozen food, and fresh fruits and vegetables.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth by the PE segment will be significant during the forecast period. PE film creates a breathable environment for the skin, which lead to a reduction of discomfort in the human body while using products like sanitary pads. Owing to the tremendous tensile strength of perforated PE films, these can withstand extreme stretching. Apart from sanitary napkins, PE perforated films are also used in the manufacturing of surgical coats, caps, and masks. Thus, an increase in the use of perforated PE films in the health and hygiene industry will drive the growth of the PE segment of the global micro perforated films market during the forecast period.
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The PE segment was valued at USD 358.48 million in 2017 and continue to grow by 2021. PE perforated films have high barrier properties, which create improved atmospheric conditions for packaged products. PE micro perforated films with superior tearing and perforation resistance are used for shrink sleeve wrapping applications. PE perforated films are suitable for packaging wet products where a high level of airflow is needed or when complete sealing is not required. PE perforated film is mostly utilized as the top sheet in sanitary products like tampons and pantyliners, but it can also be used in the food and medical packaging industries. Food-grade perforated PE films of the highest quality are used for practical and hygienic uses. It is also suitable for use in aircraft catering and hospital kitchens. PE perforated film is harmless to the human body as these films do not contain non-heavy metals or contain such metals. The above factors will increase the market growth during the forecast period.
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APAC is estimated to contribute 48% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Factors such as exponential population growth, increasing goods consumption by the middle-class population, and the rise of m-commerce and e-commerce drive the growth of the food and beverage industry in this region as consumers demand more food and beverage goods. Hence, these factors fuel the demand for packaging solutions in the food and beverage industry, resulting in the growth of the micro perforated films market in APAC.
The COVID-19 pandemic adversely affected the growth of several end-user industries, including food and beverage. However, in 2021, the easing of lockdown restrictions owing to large-scale vaccination drives in different countries in APAC, including India, Japan, China, and others, resulted in the resumption of operations across food, and meat processing industries, leading to increased demand for micro perforated films in this region in 2021. Also, growth in the e-commerce industry is expected to foster the demand for micro perforated films from the ready-to-eat food and confectionery industry during the forecast period. Moreover, vendors in the market in focus are adopting technologies such as the Internet of packaging, active packaging, and nanotechnology. Such factors are anticipated to propel the growth of the regional micro perforated films market during the forecast period.
The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Micro Perforated Films Market Scope |
|
Report Coverage |
Details |
Page number |
161 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.78% |
Market growth 2023-2027 |
USD 264.31 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
3.76 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 48% |
Key countries |
US, China, India, Japan, and Germany |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
ACE Plastics Co. Ltd., Amcor Plc, Amerplast Ltd., Berry Global Inc., Bollore SE, Coveris Management GmbH, Extrusion de Resinas Vinílicas S.A., Helion Xiamen Packaging Co. Ltd., Industrial Bolsera Granadina S.A., Intertape Polymer Group Inc., Korozo A.S., LasX Industries Inc., Mondi plc, MULTIVAC Sepp Haggenmuller SE and Co. KG, Pathway Solutions Inc., Penguin Plastics, Sealed Air Corp., Specialty Polyfilms India Pvt. Ltd., TCL Packaging Ltd., and UFlex Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Material
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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