Visiongain has published a new report entitled the Micro Packaging Market Forecast between 2021 to 2031. It includes profiles of Micro Packaging and Forecasts Market Segment by Type, Paper and Board, Corrugated Boxes, Flexible Paper, Glass Packaging, Liquid Cartons, Metal Packaging, Market Segment by Material, Wood/Paper, Glass, Metal, Plastic Copolymers, Other Material, Market Segment by Function, Protective Function, Storage Function, Loading and Transport Function, Sales Function, Promotional Function, Other Function, Market Segment by End-Use, Food & Beverage Industry, Personal Care, Cosmetics Industry, Pharmaceutical Industry, Industrial Uses, Other End-Use) PLUS COVID-19 Impact Analysis and Recovery Pattern Analysis (V-shaped, W-shaped, U-shaped, L-shaped) Profiles of Leading Companies, Region and Country.
According to Visiongain analysis, global micro packaging market is estimated to be valued at US$1,204million in 2021 and is projected to reach at a market value of US$2,114.4 million by 2031. Global market is expected to grow at a CAGR of 5.8% during the forecast period 2021-2031. The market is estimated to grow at a CAGR of 5.6% in the first half period 2021-2026 and is projected to grow at CAGR of 5.9%in the other half period 2026-2031.
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Technological developments in the worldwide micro packaging business have been driven by raw material innovation in many of the new package shapes. Depending on the food-contact clearance, the micro-packaging solution can be changed back and forth between polymers. The ability to customize this procedure, along with the exceptional qualities of the gas barrier, has piqued the interest of a variety of food sectors. Furthermore, the pharmaceutical packaging business will benefit greatly from micro packaging.
How has COVID-19 had a significant negative impact on the Micro Packaging Market?
Companies advanced fast towards its sustainability objectives before COVID-19. However, a large number of industries, particularly the packaging sector, have been adversely affected by the coronaviruses pandemic. Innovative environmentally friendly, reusable and biodegradable technologies were developed for packaging firms. However, issues concerning cleanliness and reusable packaging safety temporarily stopped progress by the packaging sector towards a sustainable and circular supply chain.
How this Report Will Benefit you?
Visiongain’s 516+ page report provides 315 tables and 322 charts/graphs. Our new study is suitable for anyone requiring commercial, in-depth analyses for the global micro packaging market, along with detailed segment analysis in the market. Our new study will help you evaluate the overall global and regional market for Micro Packaging. Get the financial analysis of the overall market and different segments including type, media, application, gas type and capture higher market share. We believe that high opportunity remains in this fast-growing micro packaging market. See how to use the existing and upcoming opportunities in this market to gain revenue benefits in the near future. Moreover, the report would help you to improve your strategic decision-making, allowing you to frame growth strategies, reinforce the analysis of other market players, and maximize the productivity of the company.
What are the current market drivers?
Micro Packaging Is Expected to Gain High Market Share in ThePharmaceutical Packaging Industry
Micro packaging, developed on the platform of nanotechnology, is poised to have a strong impact on pharmaceutical packaging owing to its ability to enhance stability and shelf life of medicines. The advent of new drug delivery systems and the development of new biochemical compounds have generated the need for improved protection against factors such as moisture, light, oxygen and mechanical forces.
The Food & Beverages Industry to Witness Great Advances in The Packaging Sector with The Launch of Micro Packaging
The food and beverages industry possess high potential and growth opportunities for micro packaging technology. Rapid growth in the demand for sustainable production, rising competition, and increase in health concerns have led the food and beverage industry to march on the path of innovation. Micro packaging, by utilizing nano materials in food, presents potential benefits such as improved bio-availability, antimicrobial effects, enhanced sensory acceptance and targeted delivery of bioactive compounds.
Where are the market opportunities?
The Food and Beverage Industry Has a Lot of Potential for Growth and Development in The Worldwide Micro Packaging Market.
The food and beverage industry has a lot of potential for growth and development in the worldwide micro packaging market. Rapid growth in demand and popularity for sustainable manufacturing, increased competitiveness, and an increase in health-related issues are expected to propel the food and beverage industry forward, presenting prospects for the micro packaging market.
Nanoscale Edible Coatings Have Emerged as An Attractive Alternative to Preserve Food Quality
Nanoscale edible coatings have emerged as a promising option for preserving food quality, extending storage life, and preventing microbial deterioration while permitting direct human exposure to nanomaterials. Gelatin-based edible coatings containing cellulose nanocrystals, chitosan/nano silica coatings, chitosan film with nano-SiO2, and alginate/lysozyme Nano laminate coatings, for example, have been shown to preserve the quality of fresh foods over time.
The major players operating in the micro packaging market are Amcor plc, Cosmo Films Limited, Dunmore Corporation, Huhtamaki Oyj, Mondi PLC, Polyplex Corporation Limited, Sealed Air Corporation, Sonoco Products Company, Transcontinental Inc, Uflex Limited, Graphic Packaging International, Inc., Packaging Corporation of America, Berry Global Company, Graham Packaging Company, WestRock Company,
These major players operating in this market have adopted various strategies comprising M&A, investment in R&D, collaborations, partnerships, regional business expansion, and new product launch. For instance, in June 2020, TC Transcontinental has announced the acquisition of the assets of Enviroplast Inc., a company dedicated to recycling flexible plastics in the province of Quebec.
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