Market Trends of Micro Perforated Films Industry
This section covers the major market trends shaping the Micro Perforated Films Market according to our research experts:
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.
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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.
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