"Companies covered in the Micro-perforated Food Packaging Market are MULTIVAC, Uflex Limited, TCL Packaging, KM Packaging Services Ltd., Mondi, Coveris, NG PLASTICS LTD., Amerplast Ltd., Bollore Films, Amcor plc, Sealed Air and more players profiled.
The global micro-perforated food packaging market size is expected to expand at a substantial pace owing to speedy growth in urban areas in developing nations, states Fortune Business Insights™. Projections of the UN Department of Economic and Social Affairs (DESA) estimate that by 2050, approximately 68% of the global population will be residing in urban areas. Moreover, 90% of this shift will be seen in Asia and Africa, with India, China, and Nigeria alone accounting 35% of this growth till 2050. Urban areas are characterized by hectic lifestyles, sedentary habits, and unhealthy diet regimes followed by the inhabitants, heightening concerns surrounding physical and mental health in these spaces.
As a result, the demand for well-packaged healthy foodstuffs is rising in urban agglomerations. Micro-perforated food packaging solutions allow ventilation into the packaged food item, essentially enabling the food to “breathe”, thus keeping the food fresh for long periods of time. Thus, as urbanization speeds up worldwide, the demand for such packaging solutions is likely to skyrocket.
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Highlights of the Report:
- Comprehensive assessment of all market drivers, trends, and challenges;
- In-depth analysis of the each and every market segment;
- Exhaustive research into the regional prospects and opportunities; and
- Detailed profiling and study of key market players and their strategies.
Staggering Level of Plastic Pollution to Impede Market Growth
Since most food packaging solutions are made from different kinds of plastic, the micro-perforated food packaging market growth is likely to be restrained as plastic pollution is reaching shocking levels worldwide. According to the Australian charity Ocean Crusaders, around 5.25 trillion pieces of plastic waste are accumulated in oceans, while in deep sea roughly four billion plastic fibers occupy per square kilometer. A UK-based charity, Surfers Against Sewage, estimates that by 2034, the amount of plastic waste, which is currently around 320 million tons, is set to double. To counter this growing menace, governments around the world are implementing strict policies to regulate plastic production and disposal, which is expected to affect the food packaging industry as they heavily rely on plastics for their operations.
Rising Disposable Incomes to Favor the Market in Asia Pacific
Among regions, Asia Pacific is anticipated to lead the micro-perforated food packaging market share during the forecast period owing to steadily rising disposable incomes across populations in developing nations in the region. Furthermore, rapid urbanization in China and India and technological advancements in packaging solutions in Japan and South Korea will also aid the market in the near future.
North America and Europe are expected to closely follow Asia Pacific on account of high reliance on packaged food items in these regions. In Latin America, improving economic conditions in Brazil and Mexico will mainly drive growth. However, in all these regions, framing of stringent policies to curb plastic pollution will negatively impact the market for micro-perforated food packaging as a result of heightening concerns for the environment.
Development of Sustainable Packaging to Emerge as a Prominent Competition Trend
In order to address the surging volume of plastic waste worldwide, key players in this market are leveraging their R&D capacities to design and develop sustainable packaging solutions. This strategy is enabling companies to expand and future-proof their product offerings and also strengthens their position in the market.
- June 2020: Austria-based Mondi Group partnered with the Germany-based pet food maker MeraTiernahrung to develop and deliver recyclable, mono-material plastic bags for the company’s semi-moist dog food. Called FlexiBag Recyclable, the novel packaging solution ensures freshness of the food inside for the entire lifespan of the product, whilst boasting of a sustainable design.
- November 2019: US-based Coveris introduced its innovative flexible and recyclable packaging solution called Duralite™ R for a variety of food and beverage products. The product uses next-gen shrink film solution, is fully recyclable, and has 50% post-consumer recyclate (PCR).
List of Companies Profiled in the Micro-perforated Food Packaging Market Report:
- Uflex Limited
- TCL Packaging
- KM Packaging Services Ltd.
- NG PLASTICS LTD.
- Amerplast Ltd.
- Bollore Films
- Amcor plc
- Sealed Air
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