Micro-Perforated Films Market

Micro-Perforated Films Market Outlook (2022-2032)

The global sales of the Micro-Perforated Films Market in 2021 were held at US$ 1.4 Billion. With a CAGR of 3.5%, the projected market growth during 2022 - 2032 is expected to be slightly higher than the historical growth, and the market size is expected to grow to US$ 2 Billion by the end of the forecast during 2022 - 2032.

Fresh Fruits & Vegetable application of Micro-Perforated Films is expected to be the highest revenue-generating segment, projected to grow at a CAGR of over 4.3% during 2022 – 2032.

Report Attributes	Details
Global Market Size (2022)	US$ 1.4 Billion
Global Market Size (2032)	US$ 2 Billion
Global Market CAGR (2022-2032)	3.5%
U.S. Market CAGR (2022 – 2032)	3.5%
Key Companies Covered	Amcor Limited Uflex Ltd. Sealed Air Corporation Bollore Group Mondi Group TCL Packaging Limited KOROZO Ambalaj San,ve Tic A.S Darnel Group Coveris Holdings SA NORDFOLIEN GmbH

Revenue of Micro-Perforated Films Market from 2017 to 2021 Compared to Demand Outlook for 2022 to 2032

As per the Global Micro-Perforated Films Market research by Fact.MR - a market research and competitive intelligence provider, historically, from 2017 to 2021, the value of the Micro-Perforated Films Market increased at around 3.5% CAGR.

The key revenue drivers, which affect the Micro-Perforated Films demand, include an increase in demand due to the growing use of protective packaging in fruits and vegetables, as it increases the shelf life of the fruit and vegetable.

Micro-perforated films feature pores spaced equally apart, allowing air to flow between the product and the environment outside. By doing this, steam will not accumulate within the packaging. Fruits and vegetables can be preserved and kept fresh for a longer amount of time owing to the use of micro-perforated films.

Which Factors are driving the Growth of the Micro-Perforated Films Market?

Micro-perforated films help preserve the quality of the food contained inside as well as the shelf life of fruits and vegetables. Polyethylene makes up the majority of micro-perforated films, which are created from a variety of polymer materials including polyethylene terephthalate, polypropylene, polyethylene, and other varieties.

According to the 2019 statistics from the Plastics Industry Association of India, India has the fifth-largest packaging market in the world and is expanding at a rate of 22–25% annually. Thus, the demand for micro-perforated films is anticipated to rise throughout the forecast period as a result of the rising demand for fresh fruits and vegetables.

A wide variety of food items, including ready meals, fruits, snacks, and meat and poultry products, are included in the packaged foods market. Over the course of the projection period, demand for the items is anticipated to increase due to a shift in customer preferences from over-the-counter food products to foods that have been packaged hygienically.

The demand for packaged foods in the Asia Pacific, South America, and Europe is anticipated to be driven by expanding dual-income families and a tendency toward health consciousness. Owing to a significant surge in urbanization there has been a rise in the consumption of convenience foods, ready meals, and processed foods in recent years.

There is a significant demand for sustainable and long-lasting packaging solutions due to the rising desire for fresh and healthy alternatives. The market's selection of foods in many categories, such as fresh, frozen, chilled, and packaged foods, has increased as a result of the development of creative packaging alternatives. In the packaging of fresh and thinly sliced fruits and vegetables, salads, bread, and bakery goods, microperforated films are in increasing demand.

Which Factors are restraining the Growth of the Micro-Perforated Films Market?

The market growth pace is hampered by restrictions on plastic materials used in food and beverage applications as well as constraints on film thickness. The market for micro-perforated films for packaging will face further challenges due to their susceptibility to contamination.

Besides, government regulations are also playing a significant role in shaping the demand for micro-perforated films. The Food and Drug Administration (FDA) states that the US Federal Food, Drug, and Cosmetic Act mandates that packaging materials be secure when in touch with the product. The rule also makes sure that the material's recycling value is secure and that it has minimal negative effects on the environment. In the US, all food packaging must also receive FDA clearance, a Finding of No Significant Impact (FONSI), and Environmental Assessment (EA) approval.

The Prevention of Food Adulteration Act 1954 in India regulates the use of certain food packaging materials, and according to the regulation, the food packaging material should not react with the products present inside.

Which Region is projected to offer the Largest Micro-Perforated Films Market Opportunity?

During the projection period, Asia Pacific is expected to be the largest Micro-Perforated Films Market. The market for Micro-Perforated Films in Asia Pacific was about US$ 354.9 Mn in 2017 and is expected to increase from its current value of US$ 414.4 Mn to US$ 635.7 Mn by the end of the forecast period in 2032, with a projected CAGR of 4.4%. During the projected period, the market in Asia Pacific is anticipated to dominate the market for micro-perforated films. The market for micro-perforated films is expanding as a result of the significant demand from countries like China, India, and Japan.

In May 2019, India approved 296 cold chain projects for the food industry, which increased the use of micro-perforated films for packaging. Additionally, as a result of the region's expanding working population and rising demand for ready-to-eat meals, micro-perforated films are becoming more and more popular there. The aforementioned elements, in addition to government assistance, promote the rising demand for micro-perforated films during the anticipated timeframe.

After Asia Pacific, the market in North America is expected to be the highest revenue-generating market for Micro-Perforated Films with a projected market size of US$ 636 Mn by 2032, and a CAGR of 4.4% during the forecast period. The rising demand for semi-finished goods, increasing economic conditions, and surging discretionary incomes are contributing factors to the growing regional market. Along with the rising demand for meals that are healthier and more convenient, there has also been technological advancement in the packaging sector.

Country-wise Analysis

U.S. Micro-Perforated Films Market Analysis

The United States is expected to account for the highest market of US$ 566.7 Mn by the end of 2032. It is expected to be projected to account for an Absolute Dollar Growth of US$ 163.8 Mn during the forecast period. In the United States, there is a spike in the use of packaging to prevent food from spoiling, which is propelling the market.

The high market value in the country is also supported by the market-leading companies of the country such as Sealed Air Corporation, Now Plastics, Darnel Group, and various other multinational companies.

U.K. Micro-Perforated Films Market Analysis

The market for micro-perforated films in the U.K. is expected to grow from US$ 61 Mn in 2022 to reach a valuation of US$ 88 Mn by 2032. The market in the country is expected to gross an absolute dollar opportunity of US$ 26.9 Mn during the forecast period, growing at a CAGR of 3.8%.

Japan Micro-Perforated Films Market Analysis

The market in Japan is expected to reach US$ 121 Mn by 2032, growing at a CAGR of 5.2% during 2022 – 2032. The market in the country is projected to garner an absolute dollar opportunity of US$ 47.3 Mn during the forecast period.

China Micro-Perforated Films Market Analysis

In China, the market is expected to grow from US$ 128 Mn in 2022 to reach a valuation of US$ 198 Mn by 2032. Growing at a CAGR of 4.4% during the forecast period, the market is likely to gross 69 Mn absolute dollar opportunity.

Category-wise Insights

Why is the Polyethylene-based Micro-Perforated Films Market projected to Witness the Fastest Growth?

The highest used material type for Micro-Perforated Films is Polyethylene Material. The demand for Micro-Perforated Films through Polyethylene is currently US$ 586.5 Mn and is expected to grow at a CAGR of 3.9% to US$ 854.4 Mn. The Polyethylene-based Micro-Perforated Films market currently accounts for about 42% of the market.

The market through this category has been dominating due to its extensive use in food packaging applications and a number of additional features, such as high transparency, puncture resistance, affordability, high tensile strength, flexibility, thermal and electrical insulation, chemical & heat resistance, and exceptional impact strength.

Due to its straightforward recycling capabilities, chemical resistance, and ability to protect the contained product from any outside influences, polyethylene remains the ideal material. Due to the aforementioned factors, the food, beverage, and consumer products industries are showing a significant demand for it, and as a result, the use of polyethylene is expanding the market for micro-perforated films.

Competitive Analysis

Some of the key players in the micro-perforated films market include Amcor Limited, Uflex Ltd., Sealed Air Corporation, Bollore Group, Mondi Group, TCL Packaging Limited, KOROZO Ambalaj San Ve Tic A.S, Darnel Group, Coveris Holdings SA, and NORDFOLIEN GmbH.

Some of the recent developments in the Micro-Perforated Films Market are:

• In October 2019, to improve its new generation of extrusion presses and pre-tensioning equipment and to expand its offering for industrial and agricultural applications, Coveris started a significant project investment in the UK.
• In May 2019, Sealed Air has acquired a manufacturer of automated packaging systems, Automated Packaging System Inc. They possessed roughly 7 production facilities in the US and the UK, and the total transaction value was USD 510 million on a debt-free basis.

Micro-Perforated Films Market Segmentation

• By Material Type :

  • Polyethylene
  • Polypropylene
  • Polyethylene Terephthalate
  • Other Material Types

• By Application :

  • Fresh Fruits & Vegetables
  • Bakery & Confectionery
  • Ready to eat food
  • Other Application

• By Region :

  • North America
  • Latin America
  • Europe
  • APAC
  • MEA