Micro Perforated Films Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The market for the micro-perforated films market is expected to grow at a CAGR of over 4 % globally during the forecast period. Major factors driving the market studied are increasing demand for food products having longer shell life and growing packaged food sector in Asia-Pacific. On the flip side, susceptibility to contamination through micro-perforations are hindering the growth of the market studied.

Key Highlights

• Increasing applications in the fruits & vegetable packaging segment are expected to drive the market growth during the forecast period.
• Asia-Pacific is expected to dominate the market across the globe with the largest consumption coming from China, Japan, and India.

Key Market Trends

Increasing Application in Fruits & Vegetable Packaging

• Micro-perforated films are the films that have holes at equal distances that allow air to circulate between the product and the external environment. This prevents the build-up of vapor inside the packaging.
• This application of micro-perforated films helps to preserve fruits & vegetables and allows them to stay fresh for longer periods of time.
• Micro-perforated films help to increase the shelf life of the fruits & vegetables and also preserves the quality of the food stored inside.
• Micro-perforated films are made of different types of polymer materials like polyethylene terephthalate, polypropylene, polyethylene, and a few other types with polyethylene accounting for the largest share.
• India’s packaging industry is the fifth-largest in the world and is growing at about 22-25% per year as per the Plastics Industry Association of India 2019.
• Hence, owing to the growing demand for fresh fruits & vegetables, the demand for micro perforated films is expected to increase over the forecast period.

Asia-Pacific Region to Dominate the Market

• Asia-Pacific region is expected to dominate the market for micro-perforated films during the forecast period. Due to the high demand application from countries like China, India, and Japan the market for micro-perforated films has been increasing.
• The largest producers of micro-perforated films are located in the Asia-Pacific region. Some of the leading companies in the production of micro-perforated films are Bollore Group, Ajover S.A.S, Jiangyin Bairuijia Plastics Science & Technology Co., Ltd, Aera, and Penguin Plastics.
• About 296 Approved Cold Chain Projects in the food processing industry have been approved in India as in May 2019 creating an increasing application of micro-perforated films for packaging.
• Additionally, with the growing demand for ready-to-eat food across the Asia-Pacific region due to the increasing working population, the demand for micro-perforated films is growing in the region.
• The aforementioned factors, coupled with government support, are contributing to the increasing demand for micro-perforated films market during the forecast period.

Competitive Landscape

The global micro-perforated films market is fragmented, with players accounting for a marginal share in the market. Some of the major companies include Bollore Group, Helion Industries, Jiangyin Bairuijia Plastics Science & Technology Co., Ltd, Aera, and Penguin Plastics.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support