According to Future Market Insights, the perforated packaging market is expected to flourish at a CAGR of 5% from 2022 to 2032. By the end of the current financial year, demand for perforated packaging is poised to be valued at US$ 24.8 Billion. As per the study, the industry is projected to ultimately total a valuation of US$ 40.39 Billion by 2032.
| Data Points | Key Statistics |
|---|---|
| Expected Market Value in 2022 | US$ 24.8 Billion |
| Projected Market Value in 2032 | US$ 40.39 Billion |
| Growth Rate (2022 to 2032) | 5% CAGR |
The food and beverage industry has been rapidly evolving. Innovation of food products along with different sizes of packaging is creating more convenience buying for consumers.
Although it is easier for consumers to select from a wide range of products, on the other end, the waste created from grocery stores has become a matter of concern for manufacturers and retail store owners. This not only is creating unrecyclable waste but also is damaging food products at an earlier stage in the supply chain cycle.
To avoid the same, food manufacturers are using perforated packaging that increases the shelf life of the package along with ensuring proper air circulation for the product. Manufacturers of perforated packaging are focusing on offering a pleasing appearance to consumers as well as increasing the usability of the product.
This, in turn, is rapidly increasing the adoption of perforated packaging in the food and beverage industry. Furthermore, reducing food wastage is the main agenda of food manufacturers as this not only reduces land pollution but also helps in maintaining economic stability for everyone involved in the supply chain.
Future Market Insights states that the use of perforated packaging I gaining traction owing to the multiple advantages it offers
Furthermore, the penetration of E-commerce sites is maximizing the use of perforated packaging due to an increase in packaged snack consumption along with the convenience of buying and ordering. Most food manufacturers are relying on perforated packaging owing to its low-cost nature. This offers an added advantage to manufacturers to package their products in perforated materials that will last longer.
Perforated packaging is sustainable in comparison to other packaging materials. Thus, it is easier to recycle and reuse perforated packaging. In the upcoming years, the customization of perforated packaging is expected to commercialize on a large scale. With more entrepreneurs and small and medium-scale entities entering the consumer food market, the demand for perforated packaging is expected to increase.
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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.
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 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.
Principal Consultant
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.
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,
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to categories such as market segments, geographies, types, technology and applications.
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The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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:
Based on the use of material the perforated packaging market can be segmented into:
Based on the product formed the perforated packaging market can be segmented into:
Based on the manufacturing technology used the perforated packaging market can be segmented into:
Based on the application, the perforated packaging market can be segmented into:
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Perforated Packaging Market
