Global Micro Packaging Market

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 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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FAQs

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 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. '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)'

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.

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.

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.

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