Micro Perforated Films Market size to record USD 264.31 million growth from 2023-2027, Growing confectionary market in North America is one of the key market trends, Technavio

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Apr 16, 2024, 17:15 ET

NEW YORK, April 16, 2024 /PRNewswire/ -- The global micro perforated films market size is estimated to grow by USD 264.31 mn from 2023 to 2027, according to Technavio. The market is estimated to grow at a CAGR of 4.78% during the forecast period. The North American confectionery market, worth USD61.37 billion in 2021, is projected to grow at a 2.4% CAGR. US dominates this market, with vendors focusing on M&A for expansion. Micro-perforated PP films, used in bakery & confectionery, are in demand due to their versatility in packing bread, cakes, and sandwiches. Key players include Mondi (Austria) and Amcor Limited. These films offer sustainability benefits, quality control, and food safety for perishable goods.

Technavio has announced its latest market research report titled Global Micro Perforated Films Market

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Innovation Sparks Market Growth:

The micro-perforated films market is experiencing significant developments, driven by new product innovations and acquisitions. Secondary sources, such as encyclopedias and directories, provide valuable insights into raw material suppliers and downstream stakeholders. In the confectionery sector, micro-perforated film manufacturers, including Mondi (Austria) and Amcor Limited, are gaining traction due to their applications in bakery & confectionary, ready-to-eat food, and meat, seafood, and poultry packaging. These films, typically made from PE, PP, or PET, offer advantages such as film thickness, reduced susceptibility to contamination, and sustainability benefits. However, ensuring food safety and quality control in perishable goods remains a priority. The healthcare sectors and e-commerce sector also contribute to the market growth, with a focus on eco-friendly materials and technological advancements. Fresh fruits and vegetables are another key application area, as these products require effective packaging to minimize food waste.

Addressing Challenges:

The Micro Perforated Films Market plays a crucial role in the food packaging industry, particularly for bakery & confectionary, ready-to-eat food, meat, seafood, and poultry. PE, PP, and PET films, including micro perforated ones made of BOPP and BOPET, are commonly used due to their versatility and protective properties. However, the raw materials' cost, primarily polymers, is susceptible to oil price volatility. Fresh products and perishable goods require high-quality, eco-friendly, and safe packaging solutions. Micro perforated films offer sustainability benefits by reducing food waste and ensuring quality control and food safety. In healthcare sectors, these films ensure the safe transport and storage of sensitive medical supplies. E-commerce sector growth and technological advancements drive the demand for thinner film thicknesses and improved barrier properties. PE, PP, and PET films cater to various industries, including fresh fruits and vegetables, bakery, and ready-to-eat food items. Sustainability, food safety, and health concerns continue to influence the market trends.

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Analyst Review

The Micro Perforated Films Market has witnessed significant developments and expansions in recent years, driven by the increasing demand for sustainable packaging solutions in various sectors. These films are particularly popular in the food industry, where they offer benefits such as improved quality control, enhanced food safety, and reduced food waste for fresh and perishable goods. Secondary sources like encyclopedias, directories, and databases, including Hoovers, provide valuable insights into the market trends and growth opportunities. The healthcare sectors, e-commerce sector, bakery, and ready-to-eat food items are some of the key areas where the demand for eco-friendly materials and sustainable packaging solutions is on the rise. Micro perforated films contribute to sustainability by reducing the need for plastic packaging and promoting the use of renewable resources. Additionally, these films offer food safety advantages by maintaining the freshness and preserving the quality of the products.

Market Overview

The Micro Perforated Films market is a significant sector in the packaging industry, utilizing advanced technology to create films with tiny perforations. These films offer unique benefits, such as improved airflow and moisture control in various applications. The Amcor Lite film, for instance, is a micro perforated product used in fresh produce packaging. The Freedome film by Fres-co System USA is another example, providing breathability and extended shelf life for baked goods. Manufacturers like Fres-co System, Sealpac, and Coveris use innovative techniques to produce these films, ensuring optimal product protection and consumer convenience. The market for micro perforated films is expected to grow, driven by increasing demand for extended shelf life and improved product preservation in various industries, including food and beverage, pharmaceuticals, and agriculture.

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Key Companies:

Micro Perforated Films Market is fragmented ; the companies are competing with competitors and are trying to get greater market share. The market is growing, and the chances of new entrants cannot be overlooked. The major companies have well-established economies of scale and market presence and generally rely on positioning technological advances, and the price of the products. Micro Perforated Films Market report includes information on the product launches, sustainability, and prospects of leading vendors including ACE Plastics Co. Ltd., Amcor Plc, Amerplast Ltd., Berry Global Inc., Bollore SE, Coveris Management GmbH, Extrusion de Resinas Vinílicas 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., UFlex Ltd.

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio