The global Micro Perforated Films For Packaging market reached ~US$ xx Mn in 2018 and is anticipated grow at a CAGR of xx% over the forecast period 2019-2029. In this Micro Perforated Films For Packaging market study, the following years are considered to predict the market footprint:
- History Year: 2014 – 2018
- Base Year: 2018
- Estimated Year: 2019
- Forecast Year: 2019 – 2025
The business intelligence study of the Micro Perforated Films For Packaging market covers the estimation size of the market both in terms of value (Mn/Bn USD) and volume (x units). In a bid to recognize the growth prospects in the Micro Perforated Films For Packaging market, the market study has been geographically fragmented into important regions that are progressing faster than the overall market. Each segment of the Micro Perforated Films For Packaging market has been individually analyzed on the basis of pricing, distribution, and demand prospect for the Global region.
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Wraps/Rolls packaging type segment to grab majority share of the global micro perforated films for packaging market during the period of assessment
In terms of value and volume, the wraps/rolls segment dominated the global micro perforated films for packaging market in 2016. The segment is estimated to account for close to 50% share of the global micro perforated films for packaging market by the end of 2026 due to rise in usage of wraps as a convenient source of packaging. The segment is expected to be valued at more than US$ 550 Mn in 2017 and is projected to expand at a CAGR of 5.5%. The segment is stated to account for more than US$ 900 Mn by the end of 2026. The wraps/rolls segment is estimated to create an incremental opportunity of close to US$ 400 Mn and expand 1.7X between 2016 and 2026.
Rapid growth of the retail sector and increase in food delivery services are factors likely to fuel the growth of the wraps/rolls segment
It has been observed that the number of retail outlets such as supermarkets, hyper markets and local stores has increased across the globe over the past few years. The changing lifestyle of people and rapid urbanisation are responsible for the significant growth of the retail and FMCG sector in emerging economies such as the Asia Pacific. Increasing per capita disposable income further helps in boosting the retail sector growth across the globe. All these factors are expected to make a positive impact on the consumption of food products that require wrap/rolls packaging, thus appreciably increasing demand in the wraps/rolls segment over the forecasted period. Shelf life is a crucial decisive factor for end users while selecting packaging films and corresponding compatible equipment. Wraps/rolls packaging enables micro perforated films packaging producers, co-packers and retailers to extend the shelf life of fruits and vegetables, bakery and confectionary, frozen food and ready-to-eat food, and creates ample opportunities for industries to amplify the market share. Micro perforated films also render a visual appeal to the products, which in turn attracts customers. Even a small increase in shelf life, specifically in meat products, is a valuable proposition for engaged industry participants and creates a substantial opportunity for companies to enhance their market footprint, which in turn is likely to fuel the growth of the wraps/rolls segment.
Demand for packaged food and beverages has been on the rise owing to consumers getting attracted to features such as portability, single handed use and easy opening property of the product. The use of micro perforated films, which are considered as an economical and convenient method of packaging is expected to grow rapidly over the forecast period owing to customer convenience. Consumers are mainly preferring wraps for packaging as they can be easily opened and closed, which is convenient when it comes to ready-to-eat food and bakery products. This factor is expected to create a positive impact on the wraps/rolls segment over the projected period. Over the past few years consumers are preferring more ready-to-eat and takeaway food, owing to changes in their lifestyle, increase in per capita disposable income and rapid urbanisation in emerging economies. In addition, habits of food consumption of customers have changed rapidly owing to corporate work culture and industrialisation. These changes are observed in emerging economies where more number of food outlets and online food delivery services have mushroomed over the years. Consumers prefer their food products to stay hygienic for a longer period of time; as a result, there is a rising demand for wraps/rolls.
Wrap/rolls segment is anticipated to register the highest CAGR in the APEJ micro perforated films for packaging market during the period of assessment
In Latin America, the wraps/rolls segment is expected to be valued in excess of US$ 50 Mn in 2017, expanding at a CAGR of 5.6% over the predicted period. In the APEJ regional market, the segment is estimated to expand at 5.9% CAGR and is likely to account for more than US$ 120 Mn in 2017. In Japan, the segment is anticipated to grab close to 50% market share during 2016-2026. The wraps/rolls segment has better potential during the forecast period in the MEA micro perforated films for packaging market and it is likely to reach more than US$ 60 Mn by the end of 2026.
Each market player encompassed in the Micro Perforated Films For Packaging market study is assessed according to its market share, production footprint, current launches, agreements, ongoing R&D projects, and business tactics. In addition, the Micro Perforated Films For Packaging market study scrutinizes the strengths, weaknesses, opportunities and threats (SWOT) analysis.
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What insights readers can gather from the Micro Perforated Films For Packaging market report?
- A critical study of the Micro Perforated Films For Packaging market on the basis of segment 1, segment 2 and segment 3.
- Learn the behavior pattern of every Micro Perforated Films For Packaging market player – product launches, expansions, collaborations and acquisitions in the market currently.
- Examine and study the progress outlook of the global Micro Perforated Films For Packaging landscape, which includes, revenue, production & consumption and historical & forecast.
- Understand important drivers, restraints, opportunities, and trends (DROT Analysis).
- Important trends, such as carbon footprint, R&D developments, prototype technologies, and globalization.
The Micro Perforated Films For Packaging market report answers the following queries:
- Which players hold the significant Micro Perforated Films For Packaging market share and why?
- What strategies are the Micro Perforated Films For Packaging market players forming to gain a competitive edge?
- Why region is expected to lead the global Micro Perforated Films For Packaging market?
- What factors are negatively affecting the Micro Perforated Films For Packaging market growth?
- What will be the value of the global Micro Perforated Films For Packaging market by the end of 2029?
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This post was originally published on Food and Beverage Herald