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The global micro perforated films market size is estimated to grow by USD 263.2 million between 2023 and 2028 exhibiting a CAGR of 4.6%. The market's upward trajectory is influenced by various factors. There's a surge in the demand for plastic films and packaging within the meat packaging industry, driven by their effectiveness in preserving freshness and extending shelf life. Additionally, the increasing imports of frozen foods in Europe contribute significantly to market growth, creating a heightened need for efficient packaging solutions. Moreover, the implementation of stringent regulatory measures aimed at controlling food wastes is propelling the adoption of sustainable packaging practices. These combined forces underscore the market's resilience and underscore the pivotal role of innovative packaging solutions in meeting evolving industry demands while ensuring compliance with environmental standards.
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The Market is experiencing significant developments and new product developments as companies focus on enhancing their offerings to meet consumer demands. This includes expansions into new markets and acquisitions to strengthen market presence. Strategic agreements & partnerships are also driving innovation and collaboration within the industry.The micro-perforated films market size is expanding due to rising demand for Sustainability benefits and Eco-friendly materials in Food packaging for Fresh products and Perishable goods. These films play a crucial role in reducing Food waste and ensuring Quality control and Food safety.Market players are increasingly catering to specific sectors like Healthcare, E-commerce, Bakery, and Ready-to-eat food items with Sustainable packaging solutions. Additionally there is demand for stretch films are used to wrap products tightly, while shrink films shrink to conform to the shape of the items when heated. Micro Packaging refers to the use of advanced packaging technologies designed for very small or miniature products. This type of packaging is crucial for industries like pharmaceuticals, electronics, and luxury goods, where precise, protective, and often high-end packaging is needed.
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 market during the forecast period.
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The PE segment was valued at USD 366.4 million in 2018. 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 58% 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 market in APAC.
The Market is being propelled by continuous developments and new product developments, fostering innovation and meeting evolving consumer needs. Key drivers include the rising demand for Sustainable packaging solutions in Food packaging sectors like Fresh products, Perishable goods, and Ready-to-eat food items. However, challenges such as ensuring Food safety and Quality control amidst increasing Food waste persist. Strategic agreements & partnerships and insights from Secondary research are addressing these challenges, driving the market forward while emphasizing Sustainability benefits and Eco-friendly materials. Our researchers analyzed the data with 2023 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 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.
Moreover, 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 market growth. The companies 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 companies 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 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 companies of micro perforated films as it increases their operating expenses. The companies 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 companies 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 market during the forecast period.
Companies 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 research report also includes detailed analyses of the competitive landscape of the market and information about key companies, including:
ACE Plastics Co. Ltd., Amcor Plc, Amerplast Ltd., Berry Global Inc., Bollore SE, Coveris Management GmbH, Extrusion de Resinas Vinilicas 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.
Qualitative and quantitative analysis of companies 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 companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market research report encompasses the entire market adoption cycle, ranging from the initial innovator phase to the subsequent laggard stage. It emphasizes adoption rates across various regions, determined by penetration levels. Additionally, the report outlines essential purchasing factors and factors influencing price sensitivity. This aids companies in assessing and formulating effective growth strategies.
Customer Landscape
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million " for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
The Market is experiencing rapid developments driven by continuous new product developments and strategic agreements & partnerships among industry players. The market size of micro-perforated films is expanding, supported by insights from secondary sources such as encyclopedia, directories, and collaboration with raw material suppliers and downstream stakeholders. Micro-perforated film manufacturers are integral to healthcare sectors, producing innovative solutions using PET (Polyethylene terephthalate). These films, with minuscule holes, balance breathability and protection in medical applications. PET's strength and barrier properties make it ideal for packaging medical devices, pharmaceuticals, and wound care products. Manufacturers employ advanced machinery to ensure high-quality films that meet strict healthcare standards. These films are crucial in maintaining sterility and enhancing patient comfort in surgical drapes, medical device packaging, and more. As healthcare demands escalate, micro-perforated film technology continues to evolve, driven by collaboration between manufacturers and healthcare professionals. Through innovation, these films contribute to improved patient outcomes and infection control, addressing emerging challenges in modern healthcare practices.
Moreover, key players like Mondi (Austria) and Amcor Limited are innovating to cater to diverse food packaging applications, including fresh fruits & vegetables, bakery & confectionary, seafood, and poultry. The film thickness and its susceptibility to contamination are critical considerations in ensuring food safety and quality control.The market's focus on Sustainability benefits is evident through the adoption of Eco-friendly materials and Sustainable packaging solutions, especially in reducing Food waste. Technological advancements in materials like Polyethylene terephthalate (PET), PE (Polyethylene), and PP (Polypropylene) are driving innovations in Ready-to-eat food items and E-commerce sector packaging.
This comprehensive approach ensures a thorough understanding of the Value chain, providing both Qualitative insights and Quantitative insights for informed decision-making.As the demand for Micro Perforated Films continues to grow, expansions in upstream players and collaborations with government organizations further contribute to market dynamics and sustainable growth.
Market Scope |
|
Report Coverage |
Details |
Page number |
164 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.6% |
Market growth 2024-2028 |
USD 263.2 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
4.18 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 58% |
Key countries |
US, China, India, Japan, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, 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 Vinilicas 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, market trends, market growth analysis, market research and growth, market growth and forecasting, Market forecasting, market report, market forecast, 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. |
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 Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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