Press release
Micro-Perforated Films Market growing at a CAGR of 4.08% through 2025
Demand Scenario
The global micro-perforated films market was USD 1.27 billion in 2018 and is estimated to reach USD 1.68 billion by 2025 at a CAGR of 4.08% during the forecast period
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Growth by Region
North America leads the market owing to high consumption of micro-perforated films in the region which is further attributed to the high disposable incomes, rise in demand for convenience food, enhancement in economic conditions, and rise in consumption of packaged food. Moreover, growing demand for healthier and convenience food products, technological improvements and inventions in the packaging industry, along with the greater penetration of retail formats are also expected to drive the market in the region.
APAC will be the fastest-growing market because of its favourable and cost-effective manufacturing environment, noteworthy consumer base, varying lifestyles, and expansion of multichannel retail formats. Furthermore, growing awareness towards the consumption of healthier and convenience food products, as well as rising exports of agricultural products to various countries are also driving the micro-perforated films market in the APAC region.
Drivers and Restraints
The global micro-perforated films market is witnessing growth owing to the rise in the use of micro-perforated films in food packaging applications. Budding need for the reduction of food spoilage and growing adoption of different retail formats in emerging countries is expected to drive the market. Moreover, the necessity to keep food products fresh and spread their shelf life across the supply chain is also likely to support the demand for micro-perforated films. However, vulnerability to contamination acts as a restraint to the market.
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Industry Trends and Updates
On the basis of material, Polypropylene (PE) micro-perforated films lead the material segment in 2018 owing to its extensive usage in food packaging applications due to properties, such as high transparency, high tensile strength, puncture resistance, superior impact strength, and cost-effectiveness. Based on application, fresh fruits & vegetables is estimated to be the largest segment due to the widespread use of micro-perforated films to pack fresh produce to keep the packed product fresh during the distribution of products because these helps in prolonging the shelf life of products, as the perforations help in balancing the O2 and CO2 levels due to the circulation of air, which prevents vapour formation.
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