The Growing Value of Filament Tapes in Packaging Industry Forecast 2022 to 2026

A type of packing material with tiny, perfectly positioned holes in it is called micro perforated films. They are perfect for packing items that need to breathe, such as fresh fruit and baked goods, because these holes allow for the exchange of gases and air. The demand for fresh and high-quality food goods is driving a quick growth in the micro perforated film packaging industry.

The micro perforated films packaging market is anticipated to grow favourably through 2023, with global sales rising by 3.6% year over year, according to a recent report by Future Market Insights (FMI). The market is anticipated to grow at a CAGR of 4.5% between 2023 and 2033, likely reaching US$ 1.46 billion in 2023 and surpassing US$ 2.28 billion by 2033.

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The growing trend of consumer preferences for fresh and high-quality food products has driven the demand for micro perforated films packaging. Micro perforated films help to extend the shelf life of fresh produce by controlling the exchange of gases, reducing spoilage and waste. This has made micro perforated films a popular choice for packaging fresh produce, fruits, and vegetables.

The growing demand for sustainable packaging solutions has also driven the growth of the micro perforated films packaging market. Micro perforated films are a sustainable alternative to traditional packaging materials, such as plastic bags, as they are made from biodegradable materials and can be easily recycled. This has made micro perforated films a popular choice for environmentally conscious consumers.

The market for micro perforated films packaging is segmented based on material, end-use industry, and geography. Based on material, the market is segmented into polyethylene (PE), polypropylene (PP), and others. Polyethylene is the most commonly used material for micro perforated films due to its high transparency, flexibility, and moisture resistance.

Based on end-use industry, the market is segmented into food and beverages, pharmaceuticals, and others. The food and beverage industry is the largest end-user of micro perforated films packaging, followed by the pharmaceutical industry. The increasing demand for fresh and high-quality food products and the growth of the pharmaceutical industry have driven the demand for micro perforated films packaging.

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Geographically, the market for micro perforated films packaging is segmented into North America, Europe, Asia-Pacific, and the Rest of the World. North America is the largest market for micro perforated films packaging, followed by Europe and Asia-Pacific. The increasing demand for fresh and high-quality food products and the growth of the pharmaceutical industry in these regions has driven the growth of the market.

In conclusion, the market for micro perforated films packaging is growing rapidly due to the increasing demand for fresh and high-quality food products and the growing demand for sustainable packaging solutions. The market is expected to continue to grow in the future as consumer preferences for fresh and high-quality food products and sustainable packaging solutions increase.

Key Takeaways of Micro Perforated Films Market Study

• Polypropylene has emerged as more preferred material for manufacturing micro perforated films and accounts for nearly half of the market share. Consistently increasing demand for high oxygen transmission rate carrying perforated films among end users bolstering polypropylene uptake
• Wraps/rolls are the most preferred type of packaging among consumers and their sales are estimated to increase further in the coming years. This segment is anticipated to remain lucrative in terms of incremental $ opportunity, during the forecast period

• Sales of micro perforated films in food packaging is expected to accelerate in next decade. Changing consumer food preferences such as ready-to-eat and on-the-go food has significant impact on the market growth for ensuring better shelf life of the product
• Micro perforated films packaging market in the United States alone is likely to increase at 5.2% during the forecast period. Micro perforated films sales in the US will be over 30% of total demand throughout the forecast period

“Many industries are taking on the green initiative, producing biodegradable micro perforated films that have benefits for both the environment and the society. Biodegradable micro perforated films are better for the environment because they can degrade easily under natural conditions. They are a great investment to have for any temperature-bound storage needs and can generally be sold fast. Therefore, these are first choice of the end users over the alternate solutions” says an FMI analyst.

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