The global micro-perforated films market is estimated at USD 1.23 billion in 2017 and is projected to reach USD 1.50 billion by 2022, at a CAGR of 4% between 2017 and 2022.
The market is witnessing growth due to the increasing use of these films in food packaging applications, such as fresh fruits & vegetables, bakery & confectionary, and ready-to-eat food. The growing demand for convenience, healthy, and sustainable food products are creating growth opportunities for the micro-perforated films market. However, susceptibility to contamination acts as a restraint for the growth of the market.
PP is projected to be the fastest-growing segment of the micro-perforated films market during the forecast period (2017-2022). This segment is expected to register the highest CAGR during the forecast period. PP is gaining popularity owing to its excellent transparency, high mechanical strength, tensile strength, and recyclability. Furthermore, the increasing use of BOPP for high-quality packaging is also expected to drive the PP based micro-perforated films market during the forecast period.
Fresh fruits & vegetables is projected to be the fastest-growing application segment of the micro-perforated films market during the forecast period (2017-2022). The need to reduce food wastage by keeping fresh fruits & vegetables fresh and extending their shelf life during the distribution of products is responsible for the rapid growth of the market.
The APAC region is projected to be the fastest-growing market for micro-perforated films during the forecast period. Growth of the micro-perforated films market in APAC is due to the fact that the region has a favorable and cost-effective manufacturing environment, significant consumer base, changing lifestyles, and expansion of multichannel retail formats. Furthermore, increasing awareness towards the consumption of healthier and convenience food products, as well as growing exports of agricultural products to various countries are also driving the micro-perforated films market in the APAC region.
Key Topics Covered
1 Introduction 1.1 Objectives of the Study 1.2 Market Definition 1.3 Market ScoPe 1.4 Years Considered for the Study 1.5 Currency 1.6 Limitations 1.7 Stakeholders
2 Research Methodology 2.1 Research Data 2.2 Secondary Data 2.3 Primary Data 2.4 Market Size Estimation 2.5 Data Triangulation 2.6 Assumptions
3 Executive Summary
4 Premium Insights 4.1 Attractive Opportunities In the Micro-Perforated Films Market 4.2 Micro-Perforated Films Market, By Region 4.3 North America: Micro-Perforated Films Market 4.4 Micro-Perforated Films Market, By Country