Micro Packaging Market Size to Reach CAGR of 15.97% for the forecast period of 2021–2028
The demand for Micro Packaging Market is increasing significantly due to wide variety of its uses in across the domain packaging industries and prominently in Pharmaceutical Industry. Modern Drug delivery solutions require better protection from dust, moisture and other pollutants, this demand is satiated effectively by Micro Packaging Solutions.
Global Micro Packaging Market: Overview
The formation of a resistant layer of few millimeters thick by utilizing nano-particles is called as micro packaging. The isolation, flexibility, and cost efficiency offered by this technique makes it an attractive packaging method. Micro packaging can be used in beverages, food, and pharmaceutical sectors. The seeping out of oxygen into the parcel results in an augmented rate of corrosion/oxidation, which reduces the shelf life of the parcel/product.
Global Micro Packaging Market: Growth Factors
The food & beverages sector has high prospective & development opportunities and scope for the global micro packaging market. Rapid development in the demand and popularity for sustainable manufacturing, growing competition, and increase in health-related problems is projected to lead the food & beverage sector to walk on the path of advancement which, in turn, will open up opportunities for the micro packaging market. As micro packaging makes use of nanomaterials prospective advantages such as enhanced antimicrobial effects, bio-availability, targeted deliverance of bioactive composites, and improved sensory acceptance are obtained thus increasing the demand for the micro packaging market. The market is expected to show substantial development due to quick urbanization and industrialization. This market is likely to go through constant changes with regard to technical up-gradation and financial aspects. The micro packaging market is considerably affected by the development of eco-conscious customers preferring packaging by utilization of recycled, biodegradable, or non-petroleum-based substances that will help in decreasing the quantity of waste. This has encouraged the market players to spend broadly for R&D proposals that facilitate micro packaging.
Global Micro Packaging Market: Segmentation
The global micro packaging market is classified in terms of end-user, which is further divided into pharmaceutical industry, food & beverage industry and personal care & cosmetics industry. In terms of application, the market is categorized into doy bags, pouches, blister packs, trays, boxes, films, vials, sachets, cartons, and others. In terms of types, the market is classified into plastic copolymers, paper & paperboard, metal, and glass.
Global Micro Packaging Market: Regional Analysis
Asia Pacific is projected to be the fastest increasing region for the micro packaging market. The rapidly increasing food and beverage sector has contributed immensely to market development. In addition, China and India are regarded as the hubs for producing pharmaceuticals products, which are then sold in North America and Europe.
Europe is anticipated to be the leading region for the market owing to the high R&D expenditure. Strict environmental rules and regulations have significantly led several companies away from traditional or conventional packaging to the most sustainable practices, for instance, micro packaging.
North America is one of the major producers of beef and pork, the usage of micro packaging actually helps to preserve the meat fresh during shipment thus increasing the popularity of micro packaging.
Global Micro Packaging Market: Competitive Players
Some of the most important market players in the global micro packaging market are -
Amcor
Alcoa Inc.
Beijing ChamGo Nano-tech Co. Ltd.
Bemis
Honeywell
InMat.
Color Matrix Corporation
Global Micro Packaging Market: Regional Segment Analysis
- North AmericaThe U.S.
- EuropeThe UKFranceGermany
- The Asia PacificChinaJapanIndia
- Latin AmericaBrazil
- The Middle East and Africa
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