Global Flexible Plastic Packaging Coating Market Definition
Flexible plastic packaging coating is an advanced solution for packaging techniques. Some of the most prevalent packaging coatings are acrylics, urethane & polyurethane, and epoxies. Owing to its numerous benefits, flexible plastic packaging coating is being used in numerous industries including food & beverage, pharmaceutical, automotive, cosmetic, pet food, and other industrial sectors.
Flexible plastic packaging coating is very useful for brand owners who want to create attractive packaging that has the power to engage, connect, and attract consumers. Most flexible plastic packaging coating balances sustainability provides protection and offers convenience for handling. It also has lightweight nature that proves to reduce the transportation cost, increases the shelf-life of the products, and uses fewer resources to increase sustainability. Thus, flexible plastic packaging coating is considered to be a durable option for a safe shipping process and for reducing costs associated with production, returns, and shipping during transportation.
Flexible plastic packaging coatings are available in different ranges from matte finishes to different textures including soft touch, velvet feel, sandy or course feel, and various combinations. As a result, brand owners can use flexible plastic packaging coating to create packaging differentiation and enhance the consumer experience.
Global Flexible Plastic Packaging Coating Market: Key Insights
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Base Year |
2022 |
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Forecast Year |
2023-2033 |
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CAGR |
~5% |
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Base Year Market Size (2022) |
~ USD 2 Billion |
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Forecast Year Market Size (2033) |
~ USD 5 Billion |
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Regional Scope |
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Global Flexible Plastic Packaging Coating Market Size, Forecast, and Trend Highlights Over 2023 - 2033
The global flexible plastic packaging coating market is estimated to garner a revenue of ~USD 5 billion by the end of 2033 by growing at a CAGR of ~5% over the forecast period, i.e., 2023 – 2033. Further, the market generated a revenue of ~USD 2 Billion in the year 2022. The growth of the market is primarily ascribed to rising sales and demand for snacks across the globe, followed by the massive surge in the consumer goods industry. For instance, in 2022, the snack food segment was estimated to touch off revenue of approximately USD 60 billion. Also, the expansion in the e-commerce industry has propelled the demand for canned food and beverages across the globe which is further anticipated to bolster the demand for flexible plastic packaging coatings.
Global flexible plastic packaging coating market trends such as, skyrocketing development and manufacturing of tablets & capsules and growing food supply worldwide are projected to influence the growth of the market positively over the forecast period. As per a recent report, the global tablet segment is projected to garner nearly USD 60 billion by 2027. Meanwhile, in 2021, the total shipment of tablets worldwide was estimated to be about 150 million units. Apart from the aforementioned factors, other growth factors such as the escalation in the usage rate of skin & hair care products and rapid growth in the cosmetics industry are further expected to impetus the growth of the market over the forecast period. For instance, as of 2022, the skin care segment was anticipated to generate total revenue of around USD 8 billion. Another factor that is projected to positively contribute to the expansion of market size is the rising focus on opting for environment-friendly packaging coatings for sustainable development. Flexible plastic packaging utilizes less amount of natural resources and a low amount of energy in manufacturing, and creates fewer greenhouse gas emissions for packaging; hence, making flexible plastic packaging coatings cost-effective and highly sustainable.
Global Flexible Plastic Packaging Coating Market: Growth Drivers and Challenges
Growth Drivers
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Increasing Demand for Plastic Coating Packaging in Automotive Industry - Plastic coating is also referred to as polymer coating which gives an excellent finish to automobiles by enhancing their look and quality. In modern times, a huge demand for automobiles is observed resulting in higher manufacturing and distribution of these vehicles. Hence, such a higher requirement is estimated to propel the demand for flexible plastic packaging coating owing to its advantages during the forecast period. The sales of automobiles across the globe were estimated to drop to around 65 million units in 2021.
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Growing Development and Manufacturing of Medicines – The medicines require packaging that is highly resistant to chemicals and provides corrosion protection. Thus, the ability of flexible plastic packaging coating to protect the medicines from external environmental factors is anticipated to increase its demand during the analysis period. It was estimated that in 2021, the total spending on medicines was estimated to be around USD 1.5 trillion.
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Increasing Consumption of Toffee and Candy – Flexible plastic packaging coatings are used for protecting, and decorating toffees and candies. Thus, the increased preference for such sweets by the younger generation is anticipated to create a positive outlook for market expansion. As of 2021, the sales of hard sugar candy were estimated to be about USD 500 million.
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Rising Disposable Income Across the Globe - In 2020, the disposable income per capita in OECD countries was anticipated to be about 50,000 U.S. dollars.
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Worldwide Growth in E-commerce Industry – With the busy lifestyle, people are opting for convenience products that are found in flexible packs. Thus, eye-catching packaging is preferred by sellers in the e-commerce industry to attract consumers through glossy and luxurious finishing which is offered by flexible plastic packaging coatings. For instance, by the end of 2022, global E-commerce retail sales were anticipated to surpass approximately USD 4.5 trillion. It is expected to rise by more than 50% within the next four years.
Challenges
- Presence of Alternatives in the Market – Numerous alternatives in the market exist as good and competitive alternatives to flexible plastic packaging coating. Alternative packaging solutions such as stainless steel, natural fiber cloth, cardboard, paper, and glass are also highly efficient, eco-friendly, and less harmful to the environment, hence the presence of alternatives is anticipated to hinder the market growth.
- Rising Concerns Regarding Harmful VOC Emission During Production Process
- Requirement for Higher Initial Investment
Global Flexible Plastic Packaging Coating Market Segmentation
The global flexible plastic packaging coating market is segmented and analyzed for demand and supply by end-user into food & beverage, cosmetics, pharmaceuticals, automotive, and others, out of which, the pharmaceuticals segment is projected to witness noteworthy growth over the forecast period. The growth of the segment accounts for the higher demand for flexible plastic packaging in the pharmaceutical industry for protecting medicines from external environmental factors. For instance, revenue generation of the global pharma sector in 2021 was estimated to be nearly USD 1.5 trillion. The growth of diseases has raised the demand for medicines which is anticipated to drive the market for flexible plastic packaging coating owing to its chemical resistance properties and its ability to enhance the appearance of the product.
The global flexible plastic packaging coating market is also segmented and analyzed for demand and supply by substrate into metal, liquid cartons, rigid plastic, paper-based container, flexible packaging, and others. Out of these, the flexible packaging segment is attributed to holding the largest share by 2033 owing to its increasing usage of flexible plastics in various applications which is the perfect alternative for metal, glass, paper, and other traditional materials. Furthermore, the use of flexible packaging in caps and closures, aerosols and tubes, and other items to secure the product during transportation while retaining its original form. Flexible packaging is also capable of offering a protective layer against moisture, light, bacteria, mold, and harsh aspects, making it an ideal choice for boosting the packaging look of products in a variety of industries such as food and beverage, pharmacy, skincare and beauty, and others.
Our in-depth analysis of the global flexible plastic packaging coating market includes the following segments:
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By Type |
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By Substrate |
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By Application |
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By End-User |
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Global Flexible Plastic Packaging Coating Market Regional Synopsis
The Asia Pacific flexible plastic packaging coating market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2033. The growth of the market in the region is ascribed to the growing utilization of cosmetic products by the population and followed by the higher demand for ready-to-eat food in the region. For instance, the total revenue generated by the cosmetic segment in India alone was estimated to reach around USD 7 billion by 2026. Hence, such factors are estimated to hike the growth of the market during the forecast period. Furthermore, the rapid expansion of the packaging industry especially in China and India, along with the rise in the need for attractive packaging is anticipated to bring an upsurge in the demand for flexible plastic packaging coating. In addition to the aforementioned factors, rapid industrialization and rising living standards of the burgeoning population are expected to bring lucrative growth opportunities for flexible plastic packaging coating owing to its various advantages such as safety, cost-effectiveness, highly durable, robust strength, lightweight in nature, easy to handle and environment-friendly properties.
Top Featured Companies Dominating the Global Flexible Plastic Packaging Coating Market
- American Packaging Corporation
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- PPG Industries, Inc.
- Glenroy, Inc.
- Akzo Nobel N.V.
- Sierra Coating Technologies LLC
- Koninklijke DSM N.V.
- Paramelt B.V.
- DuPont de Nemours, Inc.
- Amcor Limited
- Mondi plc
