Global Perforated Packaging Film Market 2019-2023
About Perforated Packaging Film
Perforated packaging films are ordinary plastic films on which perforations are made using laser peroration or needle perforation technology.
Technavio’s analysts forecast the global perforated packaging film market to grow at a CAGR of 7.51% during the period 2019-2023.
Covered in this report
The report covers the present scenario and the growth prospects of the global perforated packaging film market for 2019-2023. This market research report offers a comprehensive analysis of the market segmentation by technology (laser perforation, and needle perforation).
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Perforated Packaging Film Market 2019-2023
Technavio recognizes the following companies as the key players in the global perforated packaging film market: Amcor, Mondi, Sealed Air, Transcontinental, and Uflex.
Commenting on the report, an analyst from Technavio’s team said: “The confectionary market in the US is expected to grow at a CAGR of 2% during the next five years. Since, micro-perforated PP packaging films are the most commonly used films for packing confectionary products, the growth of the US confectionary market will be a key trend driving the perforated packaging film market growth.”
According to the report, one of the major drivers for this market is the growing European imports of frozen foods. The use of perforated packaging film can increase the shelf life of frozen foods such as fruits and vegetables by 4-6 days. This reduces the chances of food wastage due to spoilage which leads to increased adoption of perforated packaging film for import of European frozen foods from developing countries as well as countries within Europe.
Further, the report states that one of the major factors hindering the growth of this market is the volatility in price of raw materials such as polypropylene (PP), low-density polyethylene (LDPE), biaxially-oriented polypropylene (BOPP), and biaxially-oriented polyethylene terephthalate (BOPET). This price volatility increases the operating costs of the perforated packaging film vendors, which, in turn hampers market growth.
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