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Micro Packaging Market Trends

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

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Micro Packaging Market Trends

The micro packaging industry is evolving rapidly, driven by several key trends. Innovative materials like bio-based plastics and advanced barrier films are gaining popularity, offering better product protection and sustainability. Nanotechnology is enabling the development of high-performance packaging with improved barrier properties and active features such as antimicrobial coatings. There's a clear shift towards sustainable solutions, with companies adopting recyclable and biodegradable materials to address environmental concerns and meet regulatory requirements. This sustainability focus extends to circular economy initiatives aimed at reducing waste.

For instance, in April 2024, Eastman and Sealed Air introduced a compostable tray for protein packaging, created as an alternative to traditional polystyrene foam trays. Made from Eastman's Aventa Renew materials, the tray is both home and industrially compostable, supporting sustainability initiatives. This collaboration strengthens circular economy efforts within the packaging industry.

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.