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Micro Packaging Market Size

Report ID: GMI11819
Published Date: Oct 2024
Report Format: PDF

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Micro Packaging Market Size

The global micro packaging market was valued at USD 6.8 billion in 2023 and is estimated to grow at a CAGR of over 16.4% from 2024 to 2032.

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The micro packaging industry is growing due to increased demand for longer shelf life of perishable goods in food, beverage, and pharmaceutical sectors. This growth is driven by consumer focus on food safety and health. Stricter regulations on drug safety and hygiene, along with nanotechnology improvements in barrier properties and antimicrobial features, boost the market. The shift towards sustainable packaging promotes micro packaging, which uses less material and has a smaller environmental footprint. The industry is moving towards smarter packaging solutions, including freshness indicators and smart labels, to meet evolving supply chain and consumer needs.

Micro Packaging Market Report Attributes
Report Attribute	Details
Base Year:	2023
Micro Packaging Market Size in 2023:	USD 6.8 Billion
Forecast Period:	2024 - 2032
Forecast Period 2024 - 2032 CAGR:	16.4%
2032 Value Projection:	USD 25.5 Billion
Historical Data for:	2021 - 2023
No. of Pages:	240
Tables, Charts & Figures:	360
Segments covered:	Material, Technology, Application, End-use Industry, Region
Growth Drivers:	Increasing demand for extended shelf life Rising health and safety concerns Increasing adoption of nanomaterials Expansion of e-commerce Growing demand for convenience packaging
Pitfalls & Challenges:	Environmental impact concerns High production costs

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For instance, in September 2023, Bastille Parfums has partnered with Avery Dennison to enhance transparency and traceability in its supply chain through advanced digital solutions. This collaboration utilizes RFID (Radio Frequency Identification) technology combined with QR codes to provide detailed insights into the products' origins, production processes, and ingredient sourcing.

Authors: Suraj Gujar, Sandeep Ugale

Frequently Asked Questions (FAQ) :

The global market size for micro packaging was valued at USD 6.8 billion in 2023 and is estimated to grow at a CAGR of over 16.4% from 2024 to 2032, driven by increased demand for longer shelf life of perishable goods in food, beverage, and pharmaceutical sectors.

The plastics segment in the micro packaging market is projected to grow at a CAGR of over 17% and is expected to reach over USD 12 billion by 2032, driven by its versatility, lightweight nature, and durability.

North America held a share of over 36% in the global market in 2023, driven by consumer demand for convenience, food safety, and sustainability.

Major players in the industry include 3M, Amcor, Amerplast, Coveris Holdings, Dai Nippon Printing, Dunmore, DuPont, Graham Packaging, International Paper, Mondi Group, MTD Micro Molding, PPC Flex, Sealed Air, and Sonoco Products.