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Global Food And Beverage Packaging Coating Market to Expand at 3.27% CAGR from 2015 to 2020 : Trends, Opportunities and Forecasts
MarketResearchReports.biz announces the addition of the latest report, titled ‘Global Food And Beverage Packaging Coating Market: Trends, Opportunities And Forecasts (2015-2020F) (Value, By Region, By Substrates, By Packaging Type - Rigid Packaging Coating, Flexible And Plastic Packaging Coating),’ to its online repository. According to the report, the global food and beverage packaging coating market is expected to progress at a 3.27% CAGR during the period from 2015 to 2020 due to the arrival of numerous energy and fortified drinks in the market.
The global food and beverage packaging coating market is extremely competitive and saturated, as the top players have held dominant positions for a significant period of time. Over the past few years, the global food and beverage packaging coating market has been expanding at a moderate pace due to the increasing demand for packaged food, the increasing consumption of canned food, and a significant rise in the number of hotels. The global food and beverage packaging coating market is predicted to register significant growth due to the growing per capita consumption of beer during the period between 2015 and 2020.
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The increasing consumption of organic food, packaged food, and beverages across the globe is predicted to boost the demand for food and beverage packaging and coatings. Considering the increasing health concerns regarding food packaging, the leading players in the global food and beverage packaging coating market are focusing on introducing new food packaging coatings and materials.
The global food and beverage packaging coating market is segmented on the basis of region, substrate, and packaging type. Based on packaging type, the global food and beverage packaging coating market is classified into two categories, namely plastic and flexible packaging and rigid packaging. In 2014, the plastic and flexible packaging coating segment dominated the global food and beverage packaging coating market. The plastic and flexible packaging coating segment, in 2014, accounted for 69.57% of the global food and beverage packaging coating market. This segment is expected to expand at a rapid pace due to the increasing use of plastic in numerous packaged beverages and food products. The increasing use of thermoplastics is also expected to propel the plastic and flexible packaging coating segment in the years to come.
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The global food and beverage packaging coating market is filled with various leading players and new entrants. With many new companies entering the market, the leading players are predicted to face a high level of competition in the next few years. Some of the leading players in the global food and beverage packaging coating market are PPG Industries, Axalta Coating Systems, Valspar, and Akzo Nobel N.V. The introduction of new packaging and coating materials for food products and beverages is predicted to create new growth opportunities in the global food and beverage packaging coating market. Capturing the untapped market is expected to be the primary target for the leading players in the next few years.
By geography, the global food and beverage packaging coating market is divided into Asia Pacific, North America, Europe, and Rest of the World. Based on substrate, the global food and beverage packaging coating market is classified into metal, rigid plastic, glass, carton-based, and others.
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