Micro Packaging Market 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 North America (U.S., Canada), by Europe (Germany, U.K., France, Italy, Spain, Russia, Poland, Romania, Rest of Europe), by Asia Pacific (China, India, Japan, Australia, South Korea, Southeast Asia, Rest of Asia Pacific), by Latin America (Brazil, Mexico, Argentina, Rest of Latin America), by Middle East & Africa (Saudi Arabia, U.A.E., Oman, South Africa, Rest of the Middle East & Africa) Forecast 2024-2032
The Micro Packaging Market size was valued at USD 5.52 USD Billion in 2023 and is projected to reach USD 15.57 USD Billion by 2032, exhibiting a CAGR of 15.97 % during the forecast period. Micro-packaging is a microfilm that is thinner and used in various packaging applications. It is more eco-friendly than plastic and preserves the quality of products. The micro packaging industry is used in various industries, such as the food industry, cosmetic industry, pharmaceutical/HealthCare industry, electronics industry, etc. They are available in different formats, such as pouches, cans, small boxes, jars, trays, etc. Micro packaging is used for packaging medication, skincare products, headphones, chargers, snacks, and many more. There are various ranges of advantages, including extending the shelf life, improving the product quality, making micro packaging lightweight, and many more. The development cost of micro packaging can be expensive. The global shift towards biodegradable and compostable micro packaging material. Technological development in packaging materials and developing new packaging materials and properties can accelerate the growth of the micro packaging market.
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September 2022: Amcor acquired a flexible packaging plant from Russian packaging manufacturer, Danaflex.
March 2021: Toppan Printing developed virusweeper film-type packaging with antibacterial and antifungal functions.
April 2020: Jet Technologies launched anti-microbial protective films for packaging applications, inhibiting microbial growth by up to 99.9%.
The micro packaging market is witnessing significant growth in Asia-Pacific and North America. Asia-Pacific dominates the market due to the presence of a large population, rising disposable income, and increasing demand from the e-commerce industry. North America is also a major market for micro packaging, driven by the demand for convenience and product protection.
Aspects | Details |
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Study Period | 2018-2032 |
Base Year | 2023 |
Estimated Year | 2024 |
Forecast Period | 2024-2032 |
Historical Period | 2018-2023 |
Growth Rate | CAGR of 15.97% from 2018-2032 |
Segmentation |
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Aspects | Details |
---|---|
Study Period | 2018-2032 |
Base Year | 2023 |
Estimated Year | 2024 |
Forecast Period | 2024-2032 |
Historical Period | 2018-2023 |
Growth Rate | CAGR of 15.97% from 2018-2032 |
Segmentation |
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Note* : In applicable scenarios
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