Global Food Metal Packaging Coatings Market Size to Grow At 4% CAGR From 2023 to 2030

GLOBAL FOOD METAL PACKAGING COATINGS MARKET (2023 - 2030)

As per our research report, the Global Food Metal Packaging Coatings Market size is estimated to be growing at a CAGR of 4% from 2023 to 2030.

Packaging coatings are used for protection, and decoration purposes for plastic tubes, metal cans, or any other materials used in packaging. These coatings offer protection, and an aesthetic look to products related to items, healthcare, personal care, chemicals, food & and beverages, and other industries where packaging is required. These provide protection, chemical resistance, attracting customers, and protection against different environmental factors like bacteria, UV rays, etc. Increase in the e-commerce industry and demand for flexible packaging from consumer goods. Industries are the major factors that lead the packaging coatings market growth. The rise in demand for canned food & beverages across the globe has increased the demand for packaging coatings. Many countries use canned fruits, stocks, and soups for easy convenience. This leads to the demand for eco-friendly packaging coatings which also offers opportunities to the market players. However, many factors affect the growth of the market like government rules & regulations and harmful VOC emissions during the production process.

The COVID-19 pandemic has also affected the overall market and supply chain negatively. It disturbs the supply and demand for raw materials due to lockdowns and government laws limiting production, which constantly negatively impacts production facilities worldwide. Moreover, food & beverage and consumer goods industries which are the major users of packaging coatings are witnessing decreased consumption and disrupted supply chains. After the COVID-19 pandemic, the food metal packaging coating is expected to increase.

Over the past year, there have been changes in lifestyle and consumer preferences. With better access to education, people are encouraged to prioritize study and thereby create a comfortable life. With people working, a busy work life leads to using packed food to save time. To tackle this and prevent time loss, ready-to-eat foods have become a good option for spending more time with family... There is a wide variety of food options including soups, fruits, meals, and beverages are available. After Covid online retail has been growing. People can order food easily and they also get a wide range to choose from. E-commerce gives the option to consume diverse local and international meals without traveling. This factor leads to an increased need for effective packaging to preserve shelf life and to make sure that the nutrients' taste is maintained. Consumer safety and public health concerns have also been the major issues in the past couple of years, to maintain that there have been a lot of food safety regulation acts which are passed. These include proper packaging to preserve food quality and prevent toxic chemical reactions.

With technological advancements and import-export activity has seen a tremendous improvement. To maintain these relations and to ensure food safety, it is crucial for manufacturers to properly pack all the food products with great attention. Companies have been investing in advanced packaging products that prevent harmful substances from entering. Focusing on all the guidelines and protocols that are necessary to trade and market for the public. This could increase the need for food packaging materials.

KEY MARKET INSIGHTS:

• Based on the type, the epoxy segment is the largest in this market. As these materials are known for their chemical resistance, durability, adhesion, versatility, and cost-effectiveness. Additionally, they also enhance the life shelf of the food product. Polyurethane is the fastest-growing segment. It is known for its flexibility, and properties, preventing chemical reactions, and few formulations are sustainable.
• Based on the Packaging type, cans are the largest segment in the market. Cans are extremely convenient, easy to use, easily available, preserve shelf life, are recyclable, prevent entry of contaminants, take less space, and protect food from UV rays. Food cans play a vital role in the beverage industry, which enhances their durability and protects lids from corrosion in bottles and jars. Caps & and closures were the fastest-growing segment in this market. It is growing as it helps in preservation, maintaining freshness, easiness available, aesthetic appeal, identification of various brands, and versatility. Additionally, they can also be used for smaller meals, especially for people following portions to control health concerns.
• Based on the region, Asia Pacific is the largest growing region with around 36% share in the market. China is the biggest producer of aluminum and steel. Developing nations like India in the region are predicted to witness steady growth, owing to an increase in the growth of the economy. The rise in the need for decorative & and attractive packaging has led to an increase in the demand for packaging coatings in the region. Moreover, the demand for ready-to-eat foods has hiked the success of the region. North America is the fastest-growing region, with around 29% of the total market share. This is because of the developed economy, improved technology, and investments, and usage. The United States and Canada are the two countries that are growing and are expected to grow in the forecasted period...
• Companies playing a leading role in the Global Food Metal Packaging Coatings Market profiled in this report are PPG Industries, Inc., KCC Corporation, Toyo Ink SC Holdings Co., Ltd, Jotun, Axalta Coating Systems, AkzoNobel N.V, The Sherwin-Williams Company, Siegwerk Druckfarben AG & Co. KGaA, Hexion Inc., and Kansai Paint Co., Ltd.

Food Metal Packaging Coatings Market Segmentation: 

By Type:

• Epoxy
• Polyester
• Acrylic
• Polyurethane
• Polyester
• Others

By Packaging Type:

• Cans
• Caps & Closures
• Aerosols & Tubes
• Others

Regional Analysis:

• North America
• Asia-Pacific
• Europe
• South America
• Middle East and Africa