Micro Packaging Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Micro Packaging Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of Micro Packaging Market

The micro packaging market size was valued at USD 5.52 billion in 2022, and the market is now projected to grow from USD 6.36 billion in 2023 to USD 17.95 billion by 2030, exhibiting a CAGR of 15.97% during the forecast period of 2023-2030.

The COVID-19 pandemic affected the exists of numerous individuals and had an exceptional public health concern. Individuals were enforced to halt at their residences as the borders were closed. Economic uncertainty led to low buying of products which declined the demand in the market. Additionally, the demand from all industries deteriorated, leading to adverse market growth.

Chemical preservers and traditional packing methods in the food industry settle the nutritional contented of food and cause fitness problems. Surging development in demand for viable production, growing rivalry, and health concerns have led the food and beverage industry to get on improvement. The use of nanomaterials in food offers possible benefits, such as enhanced anti-microbial activity, bioavailability, enhanced sensory acceptance, and targeted delivery of bioactive compounds. One of the most favorable applications of this type of packaging in the food business is the nanocoating of food packaging surfaces. The occurrence of oxygen in packaged foods delivers ideal conditions for microorganisms to flourish in the quality and shelf life of the food and flourish the micro packaging market growth.

The micro packaging industry is observing substantial advancement due to prompt urbanization and industrialization. The market is subject to continuous changes in terms of financial factors and technological improvements. This led key performers to finance greatly in research and development initiatives for the enlargement of micro-packaging using nanomaterials that are not dangerous and make the packaging biodegradable and sustainable.

Comprehensive Analysis of Micro Packaging Market

The market can be segmented in various ways, depending on the focus of analysis such as by material, by product type and by application. Based on the material, the market is segmented into plastic, metal, and others. Based on the product type, the market is segmented into films, pouches, bottles, boxes & cartons, cans, and others. Based on application, the market is segmented into food & beverage, pharmaceutical, personal care & cosmetics, and others.

North America region is dominating the micro packaging market share due to growing R&D activities in the region and the occurrence of key market performers.

The key players are enthusiastically contributing in planned events that are targeted at maintaining durable market position and growing market share by merger, partnerships and others. These players include Cosmo Films (India), FILMTEC (India), Avery Dennison (U.S.)., Amcor (Switzerland), Danaflex Group (Russia), Vitopel (Brazil), DUNMORE (U.S.), 3M Company (U.S.), DuPont (U.S.), Shijiazhuang Dajia New Materials Technology Co., Ltd (China) these market players spending severely on research and development in order to arise with more new technology so that they can maintain and improve their existing market.

In March 2021, Toppan Printing declared that it had developed virusweeper film-type packaging with antibacterial and antifungal functions. It is Japan’s first paper-based carton packaging that is proficient of reducing the occurrence of virus particles on the surfaces.

Segmentation Table

ATTRIBUTE DETAILS

Study Period 2017-2030

Base Year 2022

Estimated Year 2023

Forecast Period 2023-2030

Historical Period 2017-2021

Growth Rate CAGR of 15.97% from 2023 to 2030

Unit Value (USD Billion)

Segmentation By Material

Plastic

Metal

Others

By Product Type

Films

Pouches

Bottles

Boxes & Cartons

Cans

Others

By Application

Food & Beverage

Pharmaceutical

Personal Care & Cosmetics

Others

By Region

North America (By Material, Product Type, Application, and Country)

U.S. (By Application)

Canada (By Application)

Europe (By Material, Product Type, Application, and Country)

Germany (By Application)

U.K. (By Application)

France (By Application)

Italy (By Application)

Spain (By Application)

Russia (By Application)

Poland (By Application)

Romania (By Application)

Rest of Europe (By Application)

Asia Pacific (By Material, Product Type, Application, and Country)

China (By Application)

India (By Application)

Japan (By Application)

Australia (By Application)

South Korea (By Application)

Southeast Asia (By Application)

Rest of Asia Pacific (By Application)

Latin America (By Material, Product Type, Application, and Country)

Brazil (By Application)

Mexico (By Application)

Argentina (By Application)

Rest of Latin America (By Application)

Middle East & Africa (By Material, Product Type, Application, and Country)

Saudi Arabia (By Application)

U.A.E. (By Application)

Oman (By Application)

South Africa (By Application)

Rest of the Middle East & Africa (By Application)

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