USD 1,208.24 million
Global Micro Packaging Market Size, Share, Growth Analysis, By Type(Paper, Board), By End User(Food & Beverage Industry, Pharmaceutical Industry) - Industry Forecast 2024-2031
Report ID:
SQMIG15G2066 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|
Tables:
72 |
Figures:
64
Global Micro Packaging Market Insights
Micro Packaging Market was valued at USD 1,208.24 million in 2019 and USD 1278.3 million in 2019 and is anticipated to reach USD 2006.89 million in 2019 growing at a CAGR of 5.8% over the forecast period (2024-2031).
The micro-packaging process involves the incorporation of nanomaterials, including films and nano-coatings, to achieve high-barrier solutions within the packaging space. Therefore, micro-packaging is a relatively new concept and presents profitable growth opportunities in virtually all verticals affecting the packaging industry. The micro-packaging industry should benefit from technological advances, particularly in the sector the healthcare sector, due to the growing popularity of efficient and advanced packaging solutions.
Micro packaging demand is rising, and one of the reasons for that as it provides transportation of products free from contamination. With a rise in awareness and popularity, the demand for micro packaging has led to new growth opportunities by creating new lucrative micro packaging.
As permeability being one of the most critical aspects of packaging, the concept of micro-packaging is gaining popularity across industries. The use of micro-packaging materials enhances the protective barrier function as these materials are fully permeable water vapour, atmospheric gases or other natural substances present in the packaged products. These factors are expected to increase the adoption of micro packaging materials, especially in the food and pharmaceutical industries during the projected period.
Major drivers for the micro packaging market include the increasing demand for FMCG and pharmaceutical products and rise in e-commerce sales due to lockdown has led to growth of packaging market. Also, due to the technological advancement the micro packaging, innovations in raw material in many of the new package shapes the market has driven.
US Micro Packaging Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Pharmaceutical Industry
Fastest Growth
Pharmaceutical Industry
Growth Rate
5.8% CAGR
Global Micro Packaging Market 2021-2028 ($ Mn)
Country Share for Asia-Pacific Region- 2021 (%)
Global Micro Packaging Market Size by End User 2021-2028 ($ Mn)
Global Micro Packaging Market Size by End User 2021-2028 (%)
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Global Micro Packaging Market Segmental Analysis
The Global Micro Packaging Market is segmented based on the Type, End User, and region. Based on Types the micro packaging market is segmented into paper and board, corrugated boxes, boxboard, flexible paper, glass, liquid cartons, metal packaging, cartons, paper-based containers and other packaging. Based on End User the market is segmented into Food & Beverage Industry, Pharmaceutical Industry, Personal Care & Cosmetic Industry and Others. Based on the region it is categorized into North America, Europe, Asia-Pacific, South America, and Middle East & Africa.
Micro Packaging Market Analysis by Type
On the basis of Type, the Global Micro Packaging Market is segmented into paper & paperboard, glass, metal, plastic, corrugated boxes, flexible paper, and others. The plastic segment dominated the micro packaging market in terms of material in 2018 and is anticipated to hold onto the top spot over the course of the forecast period. From a manufacturing perspective, the creation of micro packaging made of plastic contributes to scale economies. However, due to growing environmental concerns over time, major industry players now favour sustainable materials to produce micro packaging solutions. Such trends are anticipated to manifest during the projection period, resulting in the expansion of the packaging segments made of paper.
Micro Packaging Market Analysis by End User
Based on End-Use the micro packaging market is segmented into Food & Beverage Industry, Pharmaceutical Industry, Personal Care & Cosmetic Industry, Others. As Leading businesses in the worldwide food and beverage sector are increasingly using environmentally friendly packaging techniques. Micro packaging is being used by them to maintain the shelf life of their products and keep them fresh throughout transportation. Food and beverage goods can be packaged using micro packaging in a variety of containers, including paper bags, pouches/sachets, glass and liquid cartons, strip packs, and more. These elements are raising the need for micro packaging, which is promoting market expansion.
Global Micro Packaging Market By End User, 2021 (%), 2031 (%)
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Global Micro Packaging Market Regional Insights
Asia Pacific is projected to be the largest packaging market during the forecast period, fueled by the easy availability of packaging raw materials such as plastic, fiber, and glass and the presence of manufacturing facilities of most of the packaging companies. North America is expected to suffer the most during the pandemic, with non-operational plants and factories and the rising number of cases each day. The severity of the disease would lead to a low growth rate for 2019-21 for the packaging market.
China, Japan, Germany, France, and the US are expected to witness high consumption for packaging products between 2020 and 2021 due to increasing demand for healthcare products such as syringes, vials, and cartridges.
The involvement of dominant market players who appeal to a wide client base fuel the national micro packaging sector. The pharmaceutical industry's continued growth is expected to propel the area to significant growth in emerging economies including South Korea, Thailand, and Malaysia.
Because of the significant R&D efforts made by major corporations and the technologically advanced healthcare industry, the North America and Western Europe regions are anticipated to lead the worldwide micro-packaging market. Over time, it is anticipated that the creation of micro packaging will be more prevalent in Japan and Eastern Europe.
Global Micro Packaging Market By Geography, 2021 - 2028, 2024-2031
- Largest
- Fastest
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Global Micro Packaging Market Dynamics
Micro Packaging Market Driver
- The food and beverage industry has great potential and growth opportunity for micro-packaging technology. Rapidly growing demand for sustainable production, increased competition and improved health Concerns have driven the food and beverage industry to the path of innovation.
- Micro-packaging, using nanomaterials in food, has potential benefits such as improved bioavailability, antimicrobial effects, enhanced sensory acceptance and targeted delivery of bioactive compounds.
- Food & The Beverage Industry Will See Major Advances In The Packaging Industry With The Launch Of Micro Packaging. The food and beverage industry has high potential and growth opportunities for micro-packaging technology. Rapidly growing demand for sustainable manufacturing, increased competition and growing health concerns have driven the food and beverage industry forward.
Micro Packaging Market Restraint
- Uneven recovery in different end markets and geographies is a key challenge in understanding and analyzing the Global Micro Packaging Market landscape.
- Despite providing a positive potential, the micro packaging business faces a number of obstacles that could slow its expansion throughout the anticipated time period. The acceptance of micro packaging has been slow throughout the years, especially in the area of food packaging, as it requires the use of technologically advanced packaging processes. Micro packaging is expensive up front, which deters manufacturers with tight budgets from starting a business from a manufacturing (packaging) perspective.
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Global Micro Packaging Market Competitive Landscape
The Global Micro Packaging Market is in between of consolidated and fragmented market. And moving towards the fragmented market as the key players are now focusing to move towards nano packaging. Also, various new innovations in technologies, new merger and acquisition and partnerships led to a competitive market. Ley players in the market are Amcor (Australia), Ball Corporation (US), Bizongo (India), International Paper (US), Tetra Pak (Switzerland), Berry Global Inc. (US), DS Smith Plc (UK), Mondi Group (Austria), Macfarlane Group Plc (UK) and Smurfit Kappa (Ireland) operating in the packaging market have adopted short, mid, and long-term growth strategies such as donations, increased production, partnerships, and others to serve their customers efficiently and improve their future market shares. The key market players are also constantly focused on R&D to supply industries with the most efficient and cost-effective solutions.
Micro Packaging Market Top Player's Company Profiles
- Alcoa Inc. (US)
- Amcor (Australia)
- Bizongo (India)
- Bemis (US)
- Beijing ChamGo Nano-tech Co. Ltd. (China)
- Color Matrix Corporation (US)
- Honeywell, InMat. (US)
- Ball Corporation (US)
- Macfarlane Group Plc (UK)
Micro Packaging Market Recent Developments
- In June 2022, The Medium, Small, and Micro Enterprise Development Agency (MSMEDA) in cooperation with the German Agency for International Cooperation (GIZ) —through Ezdehar Programme organized a workshop in which 35 industrial project owners in the chemical and packaging industries participated where the announced to supports small enterprises in chemical, packaging industries.
- In June 2022, the central government approved new guidelines for the central sector scheme "Promotion of MSMEs in North Eastern Region and Sikkim” to enhance productivity and competitiveness. As per the ministry of micro, small and medium enterprises (MSME) said that the scheme will be implemented during the 15th finance commission cycle.
- In June 2022, Alcoa Announces Investment a $51 million to Boost Production at Mosjøen Smelter in Norway by 14,000 metric tons per year.
Global Micro Packaging Key Market Trends
- The food packaging industry, the prospects of nanotechnology are actively explored, including active packaging. The transformation of active compounds from the micro scale to the nano scale thus offers a new opportunity. Silver nanoparticles are among the most explored nanoparticles, because to their established antimicrobial potential against multiple commensal and pathogenic strains. In response to the vital changes in today's consumer demand, the field of active packaging (AP) is becoming increasingly important in food packaging.
- Major AP systems include those involving oxygen scavenging, moisture removal, and control, generation of carbon dioxide and ethanol and migratory and non-migratory antimicrobial (AM) systems.
- The antimicrobial activity punctures every corner of the package and provides surface protection through the gaseous characteristic of the agent. Certain antimicrobials (bacteriocins, enzymes, organic acids, nanometric metal oxides, etc.) are treated as non-volatile base agents in active antimicrobial food packaging and must be in direct contact with food.
Global Micro Packaging Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our Global Micro Packaging Market Analysis, in terms of material the plastic segment dominated the micro packaging market. Also, As the demand for personalization has increased, packing methods have changed in many ways in recent years. The global micro packaging business has advanced technologically as a result of innovation in raw materials used in numerous innovative package formats. Depending on the clearance for food contact, the micro packaging solution can be switched back and forth between polymers. Numerous food sectors have taken notice of this technique due to its ability to be customized and the superior gas barrier qualities.
| Report Metric | Details |
|---|---|
| Market size value in 2031 | USD 1,208.24 million |
| Growth Rate | 5.8% |
| Forecast period | 2024-2031 |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Micro Packaging Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Micro Packaging Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Micro Packaging Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Micro Packaging Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Micro Packaging Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Micro Packaging Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Micro Packaging Market Report Snapshots
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