Rockville, Feb. 09, 2023 (GLOBE NEWSWIRE) -- The Micro-Perforated Films Market revenues were estimated at US$ 1.4 Bn in 2021 and is anticipated to grow at a CAGR of 3.5% from 2022-2032, according to a recently published Fact.MR report. By the end of 2032, the market is expected to reach a valuation of US$ 2 Bn.
The market for Polyethylene-based Micro-Perforated Films grew at a CAGR of 3.3% during 2017 – 2021, while it is expected to grow at a CAGR of 3.9% during 2022 –2023. 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.
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Report Attributes | Details |
| Forecast Period | 2022 - 2032 |
| Value Projection (2032) | US$ 2 Billion |
| Growth Rate (2022-2032) | 3.5 % CAGR |
| No. of Pages | 170 pages |
| No. of Tables | 64 Tables |
| No. of Figures | 192 Figures |
Key Takeaways from the Study
• Micro-Perforated Films Market was valued at US$ 1.4 Bn in 2021. According to Fact.MR, Micro-Perforated Films Market revenue would increase 1.4X between 2022 and 2032, reaching roughly US$ 2 Bn in 2032.
• In terms of material type, Polyethylene material-based micro-perforated films are projected to account for a CAGR of over 3.9%.
• In terms of application, Fresh Fruits & Vegetables Packaging application accounts for the highest CAGR of 3.3% during 2017-21.
• The U.S. is the dominant country in Micro-Perforated Films Market with an absolute dollar growth opportunity of over US$ 164 Mn.
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.
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Competitive Landscape
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.
Market Frontrunners
- 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
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
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Key Questions Covered in the Micro-Perforated Films Market Report
- What is the projected value of the Micro-Perforated Films Market in 2023?
- At what rate will the global Micro-Perforated Films Market grow until 2033?
- Which are the factors hampering the growth in the Micro-Perforated Films Market?
- Which region is expected to lead in the global Micro-Perforated Films Market during 2023 to 2033?
- Which are the factors driving the Micro-Perforated Films Market during the forecast period?
- What is the expected market value of the Micro-Perforated Films Market during the forecast period?
More Insights Available
Fact.MR, in its new offering, presents an unbiased analysis of the Trivalent Chromium Finishing Market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.
The study reveals extensive growth in the Micro-Perforated Films Market by Material Type (Polyethylene, Polypropylene, Polyethylene Terephthalate, and Other Material Types), by Application (Fresh Fruits & Vegetables, Bakery & Confectionery, Ready to eat Food and Other Application) across five regions (North America, Latin America, Europe, Asia Pacific, and Middle East & Africa).
Check out more related studies published by Fact.MR Research:
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Scrim Reinforced Films Market - The presence of technological advancement along with the growth in industrialization are uplifting the scrim-reinforced films market. Also, the presence of key players are rising the market for scrim-reinforced films.
EVOH Films for Packaging Market - The EVOH films for packaging market is projected to reach US$ 8.01 Bn by 2032, at a CAGR of 5.05% from 2022 to 2032.
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