The global micro packaging Market is estimated to be valued at US$ 1.46 Bn in 2023 and is expected to exhibit a CAGR of 4.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Micro packaging involves packaging consumer products in small quantities. Micro packaging helps in portioning products in defined quantities for end users. It helps in reducing wastage and providing flexibility in usage.
Market key trends:
One of the key trends fueling the growth of micro packaging market is the increasing demand for flexible packaging from food & beverage industry. Flexible packaging offers advantages like durability, re-sealability, lightweight and easy to use properties. Micro flexible packaging caters specific portion sizes for the consumers leading to less wastage. It also allows manufacturers to offer multiple serving sizes as per consumer needs. The ability of flexible packaging to extend shelf life of products and ability to customize as per product requirement is propelling its demand in the micro packaging market.
Here is the segment analysis and key takeaways for the given Micro Packaging Market:
Segment Analysis
The global micro packaging market is segmented by material into plastic, paper & paperboard, metals, and others. Plastic micro packaging segment dominates the market and accounted for over 35% of the global market share in 2022. The growth of this segment is attributed to various properties of plastics such as durability, resilience to temperature and moisture variations, and cost-effectiveness. Plastic micro packaging finds extensive application for packing cosmetics, pharma, food & beverages, and other consumer products.
Key Takeaways
The global Micro Packaging Market Demand is expected to witness high, exhibiting CAGR of 4.5% over the forecast period, due to increasing demand from end-use industries such as pharmaceuticals, food & beverages and personal care products.
The Asia Pacific region dominated the global micro packaging market with over 35% share in 2022 owing to high demand from emerging economies like India and China. These countries are expected to experience rapid industrialization which will further propel the demand for micro packaging.
Key players operating in the micro packaging market are Amcor plc, Bemis Company Inc. (acquired by Amcor), Sonoco Products Company, Sealed Air Corporation, DS Smith Plc. Amcor plc and Bemis Company Inc. jointly accounts for around 25% share of the global market. Major players are focusing on new product launches, acquisitions, and expansion in emerging markets to strengthen their market position.
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"Nano technology, the technology on which micro packaging is based upon, has witnessed significant innovative breakthroughs since the early 2000s.
Active packaging, intelligent packaging, nano bar codes are some of the inventions which gave rise to the development of micro packaging concept.The formation of a resistant layer of few millimeters thick by utilizing nano-particles is called as micro packaging.
Micro packaging can be used in beverages, food, and pharmaceutical sectors.Micro-perforated food packaging is used for perishable food products, aiming to extend shelf life and improve moisture retention of the products.
This is employed in various applications, including fruits and vegetables, bakery and confectionery, ready-to-eat meals, and meat and seafood packaging.
Micro packaging includes addition of certain nanoparticles into shaped objects and films so as to render them light, fire-resistivity and strength in terms of mechanical and thermal performance, as well as less permeable to gases.The major drivers are the advantages of food, beverages, and pharmaceuticals lasting longer, coupled with remaining free from any contamination.
Investment in R is required to examine effects of nano-particles on human health.
The Global Micro-Perforated Food Packaging Market was valued at USD 1507.26 million in 2021 and is expected to reach USD 2171.75 million by the year 2027, at a CAGR of 5.41%.A Recent Research Report on the Global Micro-perforated Food Packaging Market features an overview and comprehensive explanation of the industry.
It segregates useful and relevant market information and provides readers with validated estimates of market size and forecast figures, including CAGR and key segment share.Micro-perforated food packaging is a material used for food and beverage packaging, to promote moisture retention and extend the shelf life of products.
Micro-perforation consists of perforating packaging films with holes ranging from a diameter of 30mm to 200mm.
This packaging offers several benefits, including long shelf life and moisture retention in food products.Request for Free Sample Report: https://introspectivemarketresearch.com/request/4909The research covers the current Rectifiers market size and its growth rates based on annual records with key players / manufacturers company scheme:Sealed Air, COVERIS, Amcor Limited, Mondi plc, Ultraperf Technologies, KM Packaging Services Ltd, Bolloré Group, Amerplast, Uflex LtdThe growth of retail chains and increasing health awareness among consumers in developing countries due to rapid urbanization and changes in living standards are expected to drive revenue growth from the micro-perforated food packaging market .
Additionally, the growing demand for non-toxic packaging material that helps extend the shelf life of food products is expected to support revenue growth from the target market.Global Micro-Perforated Food Packaging: Market SegmentationThe report further studies the market development status and future trend of the Micro-perforation for Food Packaging market worldwide.
Segmentation of the market by type and by applications to investigate completely and deeply and reveal the profile and perspectives of the market.The Micro-Perforated Food Packaging market is segmented on the basis of type such as:PolyethylenePolypropylenePETOthersThe Micro-Perforated Food Packaging market is segmented on the basis of Application such as:Fruits & vegetablesBakery & confectioneryReady-to-eatOthersRegions and Countries Level Analysis:North America (U.S., Canada, Mexico)Europe (Germany, U.K., France, Italy, Russia, Spain etc.
