The global sales of polycoated packaging market are estimated to be worth USD 31.2 billion in 2021 and are anticipated to reach a value of USD 47.5 billion by 2031. Sales are projected to rise at a CAGR of 4.3% over the forecast period between 2021 and 2031. The revenue generated by polycoated packaging market in 2020 was USD 30 billion.
The polycoated packaging market finds its drive in the increasing demand for moisture-resistant and durable packaging solutions across industries, such as food and beverage, pharmaceuticals, and personal care. The growing requirement for packaging that retains product freshness and extends shelf life, mainly in the ready-to-eat and frozen food sectors, is boosting the market. Such coating material, featuring biodegradable and recyclable coatings, addresses the growing environmental concern and puts pressure on regulations.
More significantly, there is a greater drive toward making polycoated solutions more innovative to meet the demands for sustainable packaging. Additionally, this demand has caused a stir in the need for more protective and robust packages, which has been further driven by growth in the e-commerce and logistics industries. The expansion in worldwide trade and retail markets also contributes to the wider diffusion of polycoated packaging.
Global Polycoated Packaging Industry Assessment
| Attributes | Key Insights |
|---|---|
| Historical Size, 2020 | USD 30 billion |
| Estimated Size, 2021 | USD 31.2 billion |
| Projected Size, 2031 | USD 47.5 billion |
| Value-based CAGR (2021 to 2031) | 4.3% |
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Polycoated packaging is extensively utilised in applications requiring a moisture or grease barrier. Polycoated packaging has various advantages over other forms of packaging, including cost-effectiveness, durability, and strength. As it is not absorbent, polycoated packaging resists dirt and moisture and requires less ink to print.
Furthermore, polycoated packaging products lend themselves well to customization. Depending on the packaging requirements of various industries, it might be moulded or include special additives for appearance, visibility, or texture. These factors will drive the market demand for polycoated packaging.
Online retailing is expanding globally, fuelled by the Internet and smartphone usage. Customers are increasingly purchasing items online which will increase the market share for polycoated packaging.
People are increasingly consuming products such as food, beverages, and pharmaceuticals while on the go. This will boost the growth for easy and portable packaging solutions, with the polycoated packaging market benefitting as well.
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The USA and Canada market for polycoated packaging is set to witness rapid growth in the forecasted period. Product packaging in easy, useful, and environmentally friendly styles is projected to gain traction in the years ahead.
Busier lifestyles, greater spending power, and, as a result, increased demand for rapid and on-the-go packaged items are driving demand in the USA polycoated packaging market.
Several innovative technologies and sustainable practices are being introduced in the regional packaging industry, which will stimulate demand for polycoated packaging. Seventh Generation, for instance, introduced a new ‘Earthcoating' poly compound that will improve the recyclability of its polycoated cartons.
The region's polycoated packaging market will rise rapidly as the region's middle-class population expands. The food and beverage segment is predicted to own the largest share in the market. With customers becoming more hygiene-conscious, there is a higher emphasis on safe and durable packaging, which will drive the sales of polycoated packaging.
Additionally, e-commerce will drive demand for custom-printed and attractive packaging in the region. Since polycoated packaging is highly suitable for both customization and printing, Europe will see an increase polycoated packaging in the e-commerce segment.
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Some key manufacturers and suppliers in the polycoated packaging market include
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Polycoated Packaging Market
