Product ID: SQMIG15G2066
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.
Global Micro Packaging Market Report Snapshots
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