Micro-perforated films are thin plastic films with perforations that enable the exchange of water vapor and gases. These films are manufactured from materials, such as Polyethylene (PE), Polypropylene (PP), Polyethylene Terephthalate (PET), and others, including Polystyrene (PS), Polyamide (PA), and Polyvinyl Chloride (PVC), and are used to keep food products fresh and extend their shelf life. These films are used in applications, such as fresh fruits & vegetables, bakery & confectionary, and ready-to-eat food products. The market size of micro-perforated films is projected to reach USD 1.50 billion by 2022, at a CAGR of 4.0% between 2017 and 2022.
Asia Pacific is projected to be the fastest-growing micro-perforated films market, in terms of value, during the forecast period. China is projected to be the fastest-growing micro-perforated films market in the Asia Pacific, accounting for a major share of the demand for micro-perforated films in the region. Growth in the flexible packaging industry, favorable demographic scenario, expansion of different retail formats, and increasing demand for convenience, and healthier food products are expected to lead to an increase in the demand for micro-perforated films in the region during the forecast period.
PP is projected to be the fastest-growing segment of the micro-perforated films market, by material during the forecast period owing to its properties, such as excellent clarity, high tensile strength, mechanical strength, chemical resistance, and good moisture barrier. This makes it a preferred choice for high-quality food packaging applications.
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Fresh fruits & vegetables is projected to be the fastest-growing segment of the micro-perforated films market, by application during the forecast period due to the increasing consumption of convenience and healthier food, as well as the need to reduce food wastage. The growing adoption of different retail channels, such as online grocery shopping and supermarkets is also expected to boost demand during the forecast period.
Major players in the global micro-perforated films market undertook various development strategies in recent years. Expansions, new product developments, acquisitions, and agreements/partnerships are some of the key strategies adopted by manufacturers, such as Mondi (Austria), Amcor (Australia), TCL Packaging (UK), Uflex (India), Amerplast (Finland), and Aera (France) among others. These strategies have helped the companies maintain strong footholds and enhance their shares in the market. For instance, between 2014 to 2017, companies, such as TCL Packaging and Aera expanded their manufacturing facilities to meet the increasing demand for films.
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