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The micro packaging market share is expected to increase by USD 1.35 billion from 2021 to 2026, at a CAGR of 16.81%.
This micro packaging market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers micro packaging market segmentation by end-user (food and beverage, pharmaceuticals, personal care, and others) and geography (North America, APAC, Europe, and South America). The micro packaging market report also offers information on several market vendors, including Aera SA, Amcor Plc, Amerplast Ltd., A-ROO Co. LLC, Avery Dennison Corp., Avient Corp., Bayer AG, Berry Global Inc., Bollore Inc., Chengde Technology Co. Ltd., FlexPak Services, Graham Packaging Co., Honeywell International Inc., Mondi Group, ProAmpac Intermediate Inc., TCL Packaging, Tetra Laval International SA, Thermo Fisher Scientific Inc., UFlex Ltd., and Ultraperf Technologies Inc. among others.
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The increasing usage in the pharmaceutical industry is notably driving the micro packaging market growth, although factors such as the hazards of nanotechnology in food packaging may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the micro packaging industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Micro Packaging Market Driver
The increasing usage in the pharmaceutical industry is one of the key drivers supporting the micro packaging market growth. The emergence of new biochemical compounds has led to the need for enhanced protection. Micro packaging materials offer protection to these compounds against factors such as heat, moisture, oxygen, light, and mechanical forces. Thus, micro packaging materials such as nanocoatings and nanocomposite-based packaging films are ideal for packing pharmaceutical drugs. They offer various benefits such as delay in oxidation, control of microbial growth, and improvement in tamper visibility. For instance, in April 2021, Amcor launched the new AmSky blister system, which is a recyclable polyethylene-based thermoform blister packaging. The company claims that the product generates up to 70% less carbon footprint than other alternatives such as PVC-based packaging materials. Such initiations are driving market growth.
Key Micro Packaging Market Trend
Usage of renewable fibers and bio-based materials for packaging is another factor supporting the micro packaging market growth. These bio-based materials are derived from organic matter and renewable vegetal sources. They include starch, cellulose, chitosan, proteins, and polymers produced from bio-based monomers. Furthermore, to cater to the change in consumer preference and demand for plant-based packaging, manufacturers of food and beverage products are increasingly exploring alternatives to plastic-based packaging materials such as plant-based fibers. For instance, micro-fibrillated cellulose (MFC) is a plant-based fiber and is used as a packaging material. The implementation of such alternatives can improve the packaging techniques in the market. Such factors will contribute to the growth of the global micro packaging market during the forecast period.
Key Micro Packaging Market Challenge
The hazards of nanotechnology in food packaging is one of the factors hindering the micro packaging market growth. The materials used to manufacture food and beverage packagings, such as polylactic acid (PLA) and linear low-density polyethylene (LLDPE), are integrated with the nanomaterials. Thus, there is a migration of nanomaterials to food products through PLA and LLDPE based packaging. Similarly, the migration of styrene monomer from polystyrene-based food packaging into food products have been reported. Factors such as the storage conditions of food products and food characteristics such as moisture and fat content can lead to increased migration of monomer into the food product. The transfer of these nanomaterials to food products and the health hazards posed by the consumption of these nanomaterials act as a market challenge. Thus, such factors are expected to negatively impact the growth of the global micro packaging market during the forecast period.
This micro packaging market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global micro packaging market as a part of the global metal and glass containers market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the micro packaging market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the micro packaging market encompasses successful business strategies deployed by the key vendors. The micro packaging market is fragmented and the vendors are deploying growth strategies such as product offerings through clear and unique value propositions to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The micro packaging market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the micro packaging market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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39% of the market's growth will originate from North America during the forecast period. The US is the key market for micro packaging market in North America. Market growth in this region will be slower than the growth of the market in APAC.
The growing food and beverage industry will facilitate the micro packaging market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
In 2020, the COVID-19 positively impacted the regional micro packaging market. Moreover, in 2021, with the introduction of COVID-19 vaccines, the number of COVID-19 cases reduced, which led to the lifting of COVID-19-related restrictions in the region. This led to a further increase in consumption of packaged food and beverage in the region. Therefore, the regional micro packaging market is expected to have a positive impact during the forecast period.
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The micro packaging market share growth by the food and beverage segment will be significant during the forecast period. Several leading companies in the global food and beverage industry are increasingly adopting sustainable methods of packaging. They are making use of micro packaging to keep their products fresh during transit and ensure that the shelf life of their products is maintained. Through micro packaging, food and beverage products can be packaged into paper bags, pouches/sachets, glass and liquid cartons, strip packs, among others. Such factors are increasing the demand for micro packaging, thereby boosting the market growth.
This report provides an accurate prediction of the contribution of all the segments to the growth of the micro packaging market size and actionable market insights on post COVID-19 impact on each segment.
North America Flexible Packaging market - The market share is expected to increase by USD 14.41 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 5.66%.
Perforated Packaging Film market - The market share is expected to increase to USD 665.78 million from 2021 to 2026, at a CAGR of 5.1%.
Flexible Industrial Packaging market - The market share is expected to increase by USD 594.77 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 5.16%.
Micro Packaging Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Decelerate at a CAGR of 16.81% |
Market growth 2022-2026 |
$ 1.35 billion |
Market structure |
Fragmented |
YoY growth (%) |
18.97 |
Regional analysis |
North America, APAC, Europe, and South America |
Performing market contribution |
North America at 39% |
Key consumer countries |
US, China, Japan, Germany, and France |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
Aera SA, Amcor Plc, Amerplast Ltd., A-ROO Co. LLC, Avery Dennison Corp., Avient Corp., Bayer AG, Berry Global Inc., Bollore Inc., Chengde Technology Co. Ltd., FlexPak Services, Graham Packaging Co., Honeywell International Inc., Mondi Group, ProAmpac Intermediate Inc., TCL Packaging, Tetra Laval International SA, Thermo Fisher Scientific Inc., UFlex Ltd., and Ultraperf Technologies Inc. |
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 the 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 Five Forces Analysis
5 Market Segmentation by End-user
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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