Laser Micro Perforation Equipment Market Expected to Grow at Faster Rate Due to Application in the Food and Beverage Industry
Laser Micro Perforation Equipment Market is projected to expand at a CAGR of 5.5% during forecast period from 2018 to 2026. Laser micro perforation is a process of creating micro holes in the packaging materials of products.
Albany, NY -- (SBWire) -- 02/14/2019 --According to a new market report published by Transparency Market Research titled "Laser Micro Perforation Equipment Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018 – 2026," the global laser micro perforation equipment market is expected to reach a value of US$ 314,028.1Thousand by 2026. The market is estimated to expand at a CAGR of 5.5% during the forecast period from 2018 to 2026. In terms of volume, the market stood at around 1,303 units in 2017. Europe dominated the laser micro perforation equipment market in 2017, acquiring approximately 40% of market share. The market in this region witnessed rapid increase in urbanization, changing lifestyle of people, and rise in awareness among consumers about healthy and fresh products which has fueled the FMCG and retail sectors in Europe. Additionally, the number of retail outlets such as hypermarkets, supermarkets, and local stores has increased in Europe, leading to the rising demand for packaged food. Furthermore, laser micro perforation as a technology is more prevalent in Europe due to presence of advanced technologies compared to other regions.
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The laser micro perforation equipment market is influenced by market dynamics with the prime driving factor being protecting and preserving the product from any sort of damage and contamination. Micro perforated films packaging provides all the properties needed for primary packaging such as lightweight, high performance, high barrier, low contamination, and keeps the product completely sealed off from the environment. Additionally, consumers want their food products to be hygienic and remain fresh for a longer time, which increases the demand for plastic films, thereby boosting the demand for laser micro perforation equipment during the forecast period.
Based on product type, the portable Co2 lasers segment dominated the market in 2017 and was valued at US$ 163,708.7 thousand at a CAGR of 5.5%. The segment dominated the market due to its widespread application in food packaging and other consumer goods.CO2 lasers offer various benefits over traditional mechanical methods for perforation, scoring, and cutting of the plastic films and other flexible materials that are majorly utilized in the packaging of foods and other consumer goods. Additionally, increased demand for pouch packaging in various industries, including food & beverage coupled with convenience at a low cost compared to Nd: YAG lasers is expected to drive the market during the forecast period. Increased consumer demand for high quality and freshness in packaged foods has led to the usage of sophisticated packaging techniques based on the application of plastic films.
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According to plastic type, polypropylene plastic film dominated the market in 2017 and was valued at US$ 107,163.0 thousand. The segment is expected to grow at a faster rate due to its application in the packaging field in food and beverage due to its lightweight, hygienic properties. It is utilized majorly in maintaining and enhancing the quality of packaged food.
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