Micro Packaging Market: Overview
The design of a durable coating of a few millimeters thick with the use of nano particles is called micro packaging. The independence, versatility and cost-efficiency provided by this technique make this a good packaging process. Micro labeling can be found in the beer, dairy and pharmacy industries. The absorption of oxygen into the package results in an increased risk of corrosion / oxidation, which decreases the shelf life of the package / product.
Micro Packaging Market: Dynamics
Innovation in packaging to led market growth of Micro Packaging
The packaging technologies have evolved in many aspects in recent years, as the need for customization is the need of the hour. Innovation in raw material in many of the new packaging formats has developed the technological advancements in global micro packaging industry. The micro-packaging solution can be shifted back and forth between polymers, based on the food-contact clearance. Customization of this process, combined with the excellent properties of the gas barrier, has attracted the attention of numerous food industries to its discovery. Furthermore, micro packaging is now going to help the pharmaceutical packaging industry tremendously. Various uses in the healthcare and pharmaceutical sectors, including implant processing, micro-manufacturing and micro-assembly, need the degree of complexity provided by micro-packaging.
Investments Constrain for future development of micro packaging
The consumer electronics industry is expected to be another significant contributor to the growth of the global micro packaging market during the forecast era. Despite the optimistic outlook, there are many factors that may impede the development of the global micro packaging industry. Micro packaging requires an extremely technically sophisticated area of packaging technology, which could be new to many consumers around the world, and it may also take time for it to be embraced as a secure packaging option, which is the case for many emerging innovations. This has been reported that corporations such as McDonalds tend to stay away from potential competitors in the packaging business until they have been proven to be clean and stable. As, the investments for the technology increase proportionally the investment for micro packaging also increase and hampers the growth for the micro packaging industries in future.
Micro Packaging Market: Segmentation
Globally, the Micro Packaging Market is divided based on material, product type, & End-Use Industry
Based on Material type, the global Micro Packaging market is segmented into:
- Paper and paperboard
Based on Product Type, the global Micro Packaging market is segmented into:
- Stick Packs
- Blister Packs
Based on End-Use Industry, the global Micro Packaging market is segmented into:
- Food & Beverage Industry
- Personal Care & Cosmetics Industry
- Pharmaceutical Industry
Micro Packaging Market: Regional Outlook
Asia Pacific is expected to rise at the fastest pace in the forecast era. The national micro packaging industry is powered by the involvement of dominant market players who appeal to a broad customer base. The field is also projected to see substantial growth in developing markets such as South Korea, Thailand and Malaysia, driven by a growing expansion of the pharmaceutical industry.
The North America and Western Europe regions are expected to dominate the global micro-packaging market due to robust R&D activities by large firms and the technologically advanced healthcare sector. Japan and Eastern Europe are expected to have a high penetration in micro packaging production over time.
Micro Packaging Market: Key Players
- Tetra Pak International S.A.
- Bayer AG
- Avery Dennison Corporation
- Amcor Plc
- Alcoa Inc.
- Beijing ChamGo Nano-tech Co. Ltd.
COVID-19 impact on Micro packaging market
The coronavirus pandemic has far-reaching effects for millions of people. Restricting social interaction to a minimum is changing in a very significant way not just the day-to-day jobs and mobility of people but also the life in society. A number of countries have put in place strict measures to curb coronavirus spread. Consumers cooking at home, rather than going to a restaurant for an evening meal. Many customers forget to shop every day, and instead go to the store at most once a week. Even if the negligence of panic buying, the situation is very much turning consumer behavior on its head. This unpredicted purchasing behavior of consumer will enhance the micro packaging in many ways such as multiple bundling of products, cheaper substrate as raw material for micro packaging would gain more traction in the packaging market.
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