The Global Micro-perforated Food Packaging Market is to Rise at Around 4.01% of CAGR by 2027
“According to the new market research report published by Inkwood Research, the global micro-perforated food packaging market is growing at a CAGR of 4.01% throughout the forecasting years of 2019-2027.”
“Browse 19 market Data Tables and 28 Figures spread over 110 Pages, along with an in-depth TOC on global Micro-perforated food packaging market forecast 2019-2027.”
Micro-perforated food packaging is a type of packaging which involves micrometer-sized holes that enables gas permeation for respiration rate for food products. The process involves puncturing holes in the packaging films ranging from 30 mm to 200 mm. Extended shelf life and moisture retention of the food products are the benefits of micro-perforated food packaging. The factors leading to the growth of the market are the steady rise in the vegetarian population and micro-perforation for improving shelf life. Efficient packaging using the right packing material helps in reducing the wastage of food. This has led to further growth of the market.
The growth of the vegetarian population is raising the demand for the micro-perforated packaging market
Fruits and vegetables are the major application of micro-perforated food packaging market. The consumption of products of fruits and vegetables has been mounting across the globe owing to a health-conscious lifestyle. Due to a gradual uptake of a healthy lifestyle, some people at large are moving to vegetarian food with a high intake of fruits and vegetables. This is fueling the growth of the global market.
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Polyethylene (PE) is the most adopted material in the global market
Polyethylene is certainly the most employed polymeric material. The material has non-toxic, elastic and lightweight properties most suitable for packaging. Low cost of polyethylene production is the reason behind the augmented demand for this material. The segment is driven by usage of PE for baking bakery products that enhances breathability within packages. PE is also mostly used for packing fruits, salads, and processed meat. Technological advancements of polymerization catalyst have strengthened the position of PE in the micro-perforated food packaging market.
North America is the prime contributor to the global micro-perforated food packaging market
The North America region was the highest contributor to the global market in 2018. Usage of perforated laser technology owing to greater efficiency in the packaging market has driven growth in the region. The abundance of packaging raw material like polyethylene and polypropylene is another major factor leading to the growing market share in the region. Demand for lightweight packaging has been growing in the region also, notably in countries like the U.S. and Canada.
The micro-perforated food packaging market is growing at a rapid pace. The top players operating in the global market are Sealed Air Corporation, Amcor Limited, KM Packaging Services Ltd., Uflex Ltd., TCL packaging, Mondi PLC., Coveris Management GmbH., Ultraperf Technologies Inc., Bollore Group, Amerplast. These players are focusing on strategies for development such as mergers, acquisitions, partnerships, joint ventures and business expansions.
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Inkwood Research specializes in syndicated & customized research reports and consulting services. Market intelligence studies with relevant fact-based research are customized across industry verticals such as technology, automotive, chemicals, materials, healthcare, and energy; with an objective comprehension that acknowledges the business environments. Our geographical analysis comprises of North & South America, CEE, CIS, Middle East, Europe, Asia, and Africa.