Global demand for barrier coatings for packaging is expected to reach a market valuation of US$ 11.1 billion by the end of the year 2023, accelerating at a CAGR of 10% over the forecast period (2023 to 2033). By the end of the said assessment period, a valuation of US$ 28.8 billion is expected. The barrier coatings for the packaging market is relatively niche and is experiencing utmost and rapid growth, owing to the increasing demand for high-quality packaging materials, especially in the food and beverage industry. Furthermore, the growing awareness about the importance of food safety, rising consumer demand for packaged and convenient food products, and advancements in packaging technology is impacting the growth of the market. The market is supported by:
North America, followed by Europe, is the major market for Barrier Coatings for Packaging Market, owing to the increasing popularity and growing awareness of outstanding packaging solutions. The US is the largest Barrier Coatings for Packaging Market in the region, followed by Canada, owing to the presence of leading packaging companies, a high standard of living, and an increasing demand for packaged food products. Apart from North America, Asia-Pacific is the largest market for Barrier Coatings for Packaging Market, due to the growing number of consumers seeking packaging options that are not bad for their health and environment. Furthermore, the rapidly growing food and beverage industry, increasing disposable incomes, and the presence of a large consumer base in the Asia Pacific region is pushing the market growth.
Key producers are working on manufacturing Barrier Coatings for Packaging Market in order to gain a greater market share. Some of these companies include DuPont, Berry Global, Ampacet Corporation, Toray Industries, Inc., Solvay SA, ExxonMobil Chemical Company, and The Dow Chemical Company, among others.
The Barrier Coatings for Packaging Market is expected to see increased competition in the coming years as more companies enter the market and existing players expand their product portfolios. Companies are also investing in research and development to enhance the quality and effectiveness of their products, which is likely to further increase competition. The market is characterized by intense competition, with companies competing on factors such as product quality, price, innovation, and sustainability.
For instance, in March 2022, Hubergroup Print Solutions introduced the HYDRO-LAC GA Oxygen Barrier Coating, which enables the production of mono material flexible packaging that can be more easily recycled in areas with the necessary infrastructure. The coating can be applied to a film laminate made of the same material as the packaging. Conventional flexible food packaging often consists of several laminated film layers of different chemical compositions, making it difficult or impossible to recycle. The new coating, however, allows the use of just one material, usually polypropylene or polyethylene, making the packaging more environmentally friendly. Additionally, the oxygen transmission rate of the coating is less than 10 cubic centimeters per square meter, making it suitable for packaging oxygen-sensitive food products.
As the market continues to grow, it is expected to attract new entrants, further increasing the level of competition. Starting a business in the Barrier Coatings for Packaging market can be a rewarding opportunity for entrepreneurs. Considering this, a lot of startups are coming up with innovative product launches. Some examples of startups operating in the Barrier Coatings for Packaging Market include EcoLean AB, BioGents AG, and Aaranovski, among others. These startups are focused on developing innovative and sustainable packaging solutions that meet the growing demand for eco-friendly packaging.
| Data Points | Key Statistics |
|---|---|
| Expected Market Value in 2023 | US$ 11.1 billion |
| Projected Market Value in 2033 | US$ 28.8 billion |
| Growth Rate (2023 to 2033) | 10% CAGR |
Barrier coatings for packaging are frequently used to pack and seal the variety of industrial and non-industrial goods. There are number of packaging goods which required tight packaging and effective protection, including perishable goods and this, is where barrier Coatings for Packaging plays a crucial role. Barrier coatings for packaging provide better humidity control, enhance sealing properties, and high heat resistance.
Owing to such benefits, the barrier coatings for packaging are gaining immense popularity among the end-users. Oil, grease, and water corrode the material up to a great extent and therefore barrier coatings become essential for packaging. Barrier coatings for packaging are ideal packaging solutions as it maintains products integrity by providing the grease as well as waterproofing.
All these factors are likely to boost demand for barrier Coatings for Packaging during the upcoming years. Furthermore, barrier coatings for packaging are cost-effective & also require low processing cost and witnessing the substantial demand in various end-use industries such as food, beverage, chemical, pharmaceutical, and other industries.
Overall, the global viewpoint for barrier coatings for packaging market is expected to remain positive during the forecast period.
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Prominent end-use industries such as food and beverage industries are generating a consistent demand for barrier coatings for packaging various formats such as clamshells, trays, jars, and others. Globally, the expansion of these industries coupled with the growing urban population led to an urgent demand for sustainable and cost-effective products.
Such factors are foreseen to create an astonishing demand for barrier coatings for packaging during the forecast period. Furthermore, the adoption of barrier coated papers for consumer goods and food & foodservice packaging is experiencing a considerable rise. This current trend of barrier coatings for paper packaging is contributing significantly to the barrier coatings for packaging market.
Prominent manufacturers are focusing towards the offering barrier coatings for packaging with enhanced properties such as high moisture vapor resistance, recyclability, and robust strength retention. Various end-use industries rapidly adopt barrier coatings for packaging with such characteristics. Overall, the global barrier coatings for packaging market is projected to expand with an outstanding CAGR during the forecast period.
Based on the geography, the barrier coatings for packaging market is categorized into North America, Latin America, Europe, South Asia, East Asia, and Middle East & Africa regions. In terms of market dominance, prominent regions such as South Asia and Europe regions are dominating the global barrier coatings for packaging market extensively.
The consistent penetration of key industries such as food and pharmaceutical industries in these regions are likely to propel the demand for barrier coatings for packaging during the forecast period. In terms of demand and market growth, the East Asia region is anticipated to follow the South Asia Region during the next decade.
Additionally in the East Asia region, China is expected to be highly attractive regarding market share and growth rate. Furthermore, the striking adoption of highly sustainable and biodegradable barrier coatings in the North American region is accelerating the market growth considerably. On the other hand, consistent expansion of the food and beverage industry in the Middle East & Africa region is pushing the barrier coatings for packaging market growth upwards.
Principal Consultant
Some of the leading manufacturers of barrier coatings for packaging are Stora Enso, Teknos Group, Sierra CoatingTechnologies LLC, SchmidRhyner AG, CORK INDUSTRIES, Mondi PLC, Cattie Adhesives and other local manufacturers.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides an in-depth analysis of parent market trends, macroeconomic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies
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Barrier Coatings for Packaging Market
