The market, the estimated base year is 2018. The forecast period of the market is 2019-2027
NEW YORK, Jan. 9, 2019 /PRNewswire/ --
KEY FINDINGS
Micro-perforated food packaging market refers to packaging that is punched with micro holes, ranging from 30mm to 200mm in diameter.These micro holes allow the gas to penetrate in order to sustain the respiration rate of the food products.
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This type of packaging poses varied benefits like preventing the moisture of food products and long shelf life.
The global market for micro-perforated food packaging is growing at an anticipated CAGR of 4.01% throughout the forecasting years. For the analysis of the market, the estimated base year is 2018. The forecast period of the market is 2019-2027.
MARKET INSIGHTS
The global micro-perforated food packaging market is growing at a rapid pace.The key factors attributing to the growth of the market are the increase in the vegetarian populace, product packaging helping to reduce food wastage and economizing of packaging.
One of the major advantages of micro-perforations food packaging is that it improves the shelf life of the food product as it has micro holes that help gas penetration and maintains the air intake of the product.
Inkwood Research has bifurcated micro-perforated food packaging market into two major segments, which include materials and applications.The materials segment is categorized into polypropylene (PP), polyethylene (PE), polyethylene terephthalate (PET) & others.
The applications include bakery & confectionary, fruits & vegetables, ready-to-eat & others. However, the market is facing few restraining factors such as the availability of substitute, strict rules and regulation in regards to the environment, increasing price of packaging and rising awareness for sustainable packaging, are drastically affecting the market growth globally.
REGIONAL INSIGHTS
The global micro-perforated food packaging market includes key regions such as North America, Europe, Asia Pacific and rest of world.Among all, in terms of revenue, North America is dominating the market by holding colossal share in 2018.
The major factors proliferating the growth of the market in the region include a large number of micro-perforated packaging materials producers and profuse accessibility of raw materials like PP and PE. Moreover, the doubling requirement for weightless packaging solutions of food products is also increasing the demand for micro-perforated food packaging market in the region.
COMPETITIVE INSIGHTS
The micro-perforated food packaging market has a number of players which include Sealed Air Corporation, Coveris Management Gmbh, Amcor Limited, Mondi Plc, Ultraperf Technologies Inc., KM Packaging Services Ltd., Bolloré Group, TCL Packaging, Amerplast and Uflex Ltd.
Companies mentioned
1. SEALED AIR CORPORATION
2. COVERIS MANAGEMENT GMBH
3. AMCOR LIMITED
4. MONDI PLC
5. ULTRAPERF TECHNOLOGIES Inc.
6. KM PACKAGING SERVICES LTD.
7. BOLLORÉ GROUP
8. TCL PACKAGING
9. AMERPLAST
10. UFLEX LTD.
Read the full report: https://www.reportlinker.com/p05637924
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