Micro-Perforated Films Market Size, Trend And Growth (2019 – 2026)
The global micro-perforated films market is forecast to reach USD 1.71 Billion by 2026, according to a new report by Reports and Data. The micro-perforated films help in the air accumulation between the surround and the packaged product and prevent creating the vapor inside the packaging to keep the product fresh for a more extended period of time. These type of films are being adopted in the global market for food usage. Fruits & vegetables segment is the highest contributor in this market. Colorful films are expected to grow high in the forthcoming period. The food-safe micro-perforated films are in high demand for food containing applications.
The Asia Pacific region is forecasted to grow fastest with the growth highest rate of 6.4% in the period 2019 - 2026, owing to its upswing in demand for the micro-perforated films in the fruits and vegetables segment coupled with the proliferation of e-commerce groceries marketing in the countries such as India and China.
Further key findings from the report suggest
- Confectioneries are the sweet and salty bakery confection foods. Cake, sweets, candy, and jelly toasts are some of examples of confectionery foods. The segment had a market revenue of USD 0.42 Billion in 2018. The CAGR is calculated as 2.8% in the forecast period.
- The others segment consists of application tapes, protective films, and other applications which require air accumulation inside the protective film layer. The revenue in 2018 for this segment was USD 0.05 Billion.
- Polyethylene (PE) films are subdivided into two different type of films. High-Density Polyethylene (HDPE) and Low-Density Polyethylene (LDPE). These types of films provide high toughness, chemical resistance, flexibility, and transparency and are mostly used in large food buckets. PE had the highest market share of 42.6% in 2018 and would grow with a significant rate of 4.2% throughout the forecast period.
- Colorful micro-perforated films are expected to grow high in the forecast period with a CAGR of 4.8% in the forecast period. In the case of raw meats and seafood, the products inside the films seem unpleasant being visible. The colorful films can be used in such cases to stash the product.
- Food-safe micro-perforated films are growing rapidly owing to rising concerns related to food-grade plastic films for edible products. The CAGR is forecasted to be 4.2% during the period 2019 – 2026. Polyethylene Terephthalate (PET), Polypropylene (PP), Polyethylene (PP), Polycarbonate (PC) are food-safe films approved by the Food and Drug Administration (FDA) and can be used with any food containing applications.
- North America had the highest market possession in 2018 with a market share of 32.9% and would grow at a CAGR of 2.8% in the forecast period.
To identify the key trends in the industry, click on the link below:
https://www.reportsanddata.com/report-detail/micro-perforated-films-market
- Europe is forecasted to witness a significant growth in the overall market, with 21.7% of market possession by 2026 and CAGR of 2.1% during the forecast period.
- Key participants include Sealed Air Corporation, Mondi Group, TCL Packaging Ltd., KM Packaging Services Ltd., Amerplast, Uflex Ltd., Now Plastics, Darnel Inc., Coveris Holdings, and Amcor.
