Polycoated Packaging Market Forecast and CAGR
The global sales/shipment of polycoated packaging are expected to grow at a CAGR of 6.8% during 2021-31. The demand for polycoated packaging products will witness a steady growth owing to a preference for quality packaging and a rise in the number of consumer goods manufacturers and distributors.
Polycoated Packaging’s added Advantage to be a Major Market Driver
Polycoated packaging is extensively utilized 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.
An Increase in Online Retailing will Drive 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.
The US and Canada Demand Outlook for Polycoated Packaging Market
The US and Canada market for polycoated packaging is set to witness rapid growth in the forecasted period. Product packaging is 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 US 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.
Europe Polycoated Packaging Market outlook
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 in polycoated packaging in the e-commerce segment.
Polycoated Packaging: Key players
Some key manufacturers and suppliers in the polycoated packaging market include
- Nippon Industries
- Delta Paper
- Patels Polypack
- G T Pack Industries
- Jagannath Industries Pvt. Ltd.
- West Rock Company
- Cheevers Specialty Paper and Film
- Taizhou Kindeal Paper Co. Ltd.
- Smurfit Kappa Group
- Graphic Packaging International
Polycoated Packaging: Market Segmentation
Based on Form, the global polycoated packaging market is segmented as:
- Polycoated Carton
- Polycoated Paper
- Polycoated Paperboard
Based on Polymer Types, the global polycoated packaging market is segmented as:
- Polyester Film Laminates
Based on Application, the global polycoated packaging market is segmented as:
- Industrial Packaging
- Food and Beverages
- Meat and Poultry
- Bakery and confectionery
- Cosmetics and Personal care
Based on Region, the global polycoated packaging market is segmented as:
- North America
- Latin America
- Asia Pacific
- Middle East and Africa
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