According to Future Market Insights, the perforated packaging market would grow at a CAGR of 5% between 2022 and 2032. Demand for perforated packaging is expected to reach $24.8 billion by the conclusion of the current fiscal year. According to the report, the industry is expected to be worth US$ 40.39 billion by 2032. The food and beverage business is rapidly changing. Food product innovation, combined with variable package sizes, is making purchasing more convenient for consumers.
The need to keep the food fresh and safe during storage, transportation, and display have been one of the key concerns of food manufacturers and brand owners. In the United States only each year about 43 billion pounds of food is thrown away from the grocery stores only. Using advanced forms of packaging offers a solution to such a large scale of food wastage, and the relative loss incurred by respective industry stakeholders. Perforated packaging is one of such solution which recently gained prominence and has a vital role to play in minimizing food wastage in transit of retail outlets.
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The perforated packaging is used to increase the shelf-life of the packaged product, wherein it ensures desired volume of air circulated within the package instead of restricting the air flow in the package. It has fine perforations to let the right amount of the air to penetrate the bag keeping the products fresh and crusty. As the food and beverage industry is expanding the demand for the perforated packaging film is also increasing. Perforated packaging wraps the product safely in a perforated plastic cover. Using perforated packaging air circulation can be modified to suit the oxygen transmission rate of the vegetable or fruit concerned. It makes the product look fresher increasing its marketability which in turn decreases the turnover period of the products.
Perforated Packaging Market- Market Dynamics:
Perforated packaging market has reflected vertical upward growth over past three years, on the backdrop of upsurge processed and packaged food demand approximately 30%, 40% and 80% in Europe, India, and the US respectively. The demand for processed and packaged food can be attributed to rapidly changing lifestyle, urbanization as well as increasing disposable income among the middle-class families.
Moreover, other high impact drivers for the growth of perforated packaging market are increasing the number of modern retail format and the use of e-commerce for procuring consumable items. The global growth rate for modern retail format and e-commerce is anticipated to be around 5% and 8% respectively. The need of protecting the fresh produce, to have effective packaging and to increase the shelf life of the product is also fuelling the perforated packaging market.
There are few constraints such as the inability of perforated packaging to protect its product efficiently from the chemicals and physical damages. Despite all the advantages, the perforated packaging is unable to compete with modified atmospheric packaging options, for increasing the lifespan of the product. Though, the low-cost characteristic of perforated packaging is likely to drive global perforated packaging market on a vertical upward growth trajectory.
Perforated Packaging Market – Regional Outlook:
Regionally perforated packaging market can be segmented into, Latin America, Europe, North America, Asia-Pacific excluding Japan (APEJ) and Middle East & Africa (MEA). Perforated packaging market is expected to grow at a steady rate in the period of 2016- 2024. North America is expected to witness the high growth in perforated packaging market for the period because it has a high consumption of the processed meat and packaged food.
The demand for perforated packaging in Eastern and Western Europe is forecasted to be sluggish due to government policies against the extensive use of plastics. APEJ region is also expected to witness a robust growth of perforated packaging market in the forecast period due to rapidly changing regional lifestyle. There is an increase in number of modern retail outlets and consumption of processed meat and packaged food in the APEJ region. Perforated packaging market is expected to give the good yield in the APEJ region.
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Perforated Packaging Market – Key Players:
Some key players in the perforated packaging market are Amcor Limited, Now Plastics, Helion Industries, Amerplast, ULTRAPERF, Ajover S.A., A-ROO Company LLC, 3M Company, LaserSharp FlexPak Services,
Perforated Packaging Market- Market Segmentation
The perforated packaging market can be segmented by the size of the perforation, material used, the product formed, manufacturing technology used and application.
Based on the Perforation size the perforated packaging market can be segmented into:
- Micro perforation
- Macro perforation
Based on the use of material the perforated packaging market can be segmented into:
- Low-density polyethylene
- Polypropylene
- Perforated tarpaulin
Based on the product formed the perforated packaging market can be segmented into:
- Woven sacks bags
- Liner bags
- Bopp film
- Anti-bacterial BOPP film
Based on the manufacturing technology used the perforated packaging market can be segmented into:
- Laser perforated films
- Punched hole films
Based on the application, the perforated packaging market can be segmented into:
- Bakery & Confectionery Products
- Produce grain
- Produce vegetable
- Produce fruits
- Dried fruits
- Other food products
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Related Links –
https://issuu.com/nk99/docs/silage_bags_market_size_
https://www.slideshare.net/niranjankarde/silage-bags-market-size-industry-trends-report-for-2032
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