14-June-2019: The global micro-perforated food packaging
market size is projected to reach USD 1.96 billion by 2025 expanding at a CAGR
of 5.7% during the forecast period, according to a new report by Grand View
Research, Inc. Rapid growth of the retail sector is one of the key factors
driving market growth.
Micro-perforated food packaging
contains micro holes, which enable gas permeation to maintain the rate of
respiration of food products. This packaging offers various advantages,
including extended shelf life and moisture retention of food products. The immense
growth of retail chains globally, attributable to shifting consumer preference
toward convenience goods, is expected to drive demand for micro-perforated food
packaging, globally.
North America was the largest
market in 2017, due to increased import of fruits and vegetables and high
demand for bakery and confectionery in the region. The North America
micro-perforated food packaging industry is also driven by growing demand for
lightweight packaging solutions for food products. This is complemented by recent
consumer trends that have necessitated convenience in packaging products to
facilitate their portability.
Asia Pacific’s grocery retail
industry has been boosted by rising population and a dramatic increase in
consumer spending. In addition, many large format retailers in this region have
enjoyed considerable growth through expansions, despite facing increased
rivalry from more developed countries. While countries such as India, Japan,
and India have emerged as frontrunners in the food packaging industry in Asia
Pacific, countries such as Singapore and Thailand have played a key role in
consumption of packaging products, including micro-perforated food packaging
materials.
In
depth research report on Micro-perforated Food Packaging Market
Further
key findings from the report suggest:
· In
terms of revenue, the global micro-perforated food packaging market is
anticipated to reach USD 1.96 billion by 2025, at a CAGR of 5.7% from 2018 to
2025
· By
material type, polypropylene is expected to witness steady growth over the
forecast period owing to increasing demand from food manufacturers
· On the
basis of application, fruits & vegetables dominated the market with a
revenue-based share of 48.1% in 2017, owing to significant demand from retail
stores
· The
competition is intense among key players owing to the fact that the products
offered by manufacturers have low differentiation
· Some of
the key companies present in the market are Sealed Air, Mondi, Bolloré Group,
Amcor Limited, Uflex Ltd, TCL Packaging, COVERIS, Amerplast, NOW Plastics, and
Aera.
Grand View Research has
segmented the global micro-perforated food packaging market on the basis of
material, application, and region.
Micro-perforated
Food Packaging Material Outlook (Revenue, USD Million, 2014 - 2025)
· Polyethylene
· Polypropylene
· PET
· Others
Micro-perforated
Food Packaging Application Outlook (Revenue, USD Million, 2014 - 2025)
· Fruits
& vegetables
· Bakery
& confectionary
· Ready-to-eat
· Others
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more research reports of this category:
About
Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
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