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.
- 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.
To identify the key trends in
the industry, click on the link below:
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