The global Polycoated Packaging Market is on a promising trajectory, with projected growth at a Compound Annual Growth Rate (CAGR) of 6.8% between 2021 and 2031. This upward trajectory is attributed to the escalating demand for polycoated packaging products, driven by a steadfast preference for top-notch packaging and the proliferation of consumer goods manufacturers and distributors.
Polycoated packaging stands out as a versatile solution for applications demanding moisture or grease resistance. Its appeal is further enhanced by a host of advantages over alternative packaging options. These include cost-effectiveness, notable durability, and impressive strength. In addition, its non-absorbent nature equips polycoated packaging with the ability to repel dirt and moisture, requiring less ink for printing, making it an increasingly favored choice among consumers and businesses alike.
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An Increase in Online Retailing will Drive demand for Polycoated Packaging
The thriving global landscape of online retail, driven by the ubiquity of the internet and the widespread use of smartphones, is witnessing unprecedented expansion. The growing penchant among consumers for online shopping is set to significantly amplify the demand for polycoated packaging, thereby increasing its market share.
Moreover, the contemporary lifestyle is marked by a surge in on-the-go consumption of products spanning categories like food, beverages, and pharmaceuticals. This burgeoning trend is poised to further bolster the market for convenient and portable packaging solutions, with the polycoated packaging sector emerging as a beneficiary of this prevailing consumer preference.
Drivers:
- E-commerce Growth: The increasing prevalence of online shopping and e-commerce is driving the demand for polycoated packaging, as it is essential for shipping and protecting products during transit.
- Consumer Goods Manufacturing: The rise in consumer goods manufacturing, including food, beverages, and pharmaceuticals, necessitates the use of polycoated packaging for product safety and freshness.
- Moisture and Grease Resistance: Polycoated packaging is extensively used in applications requiring moisture or grease resistance, making it a preferred choice for a wide range of products.
- Durability and Strength: The durability and strength of polycoated packaging make it suitable for protecting goods during storage, shipping, and handling.
- Cost-Effectiveness: Polycoated packaging is cost-effective compared to some alternative packaging materials, making it a practical choice for businesses looking to control packaging costs.
- Custom Printing: Polycoated packaging can be custom printed, making it an attractive choice for businesses wanting to showcase their branding and product information.
Restraints:
- Environmental Concerns: The environmental impact of non-biodegradable polycoated packaging materials has raised concerns, prompting a shift towards more sustainable packaging solutions.
- Regulatory Compliance: Compliance with regulations and standards related to food contact materials can be challenging, particularly in regions with evolving regulations.
- Competition from Alternatives: Sustainable packaging materials and innovative alternatives can compete with polycoated packaging, affecting its market share.
- Market Fragmentation: The polycoated packaging market can be fragmented, with various manufacturers offering different products, which can lead to price competition and margin pressure.
- Material Costs: Fluctuations in the costs of materials used in polycoated packaging production can impact the overall cost and pricing of these products.
- Safety Concerns: Some consumers and businesses may have concerns about the safety of polycoated materials, particularly when used for food and beverage packaging.
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Key Players
- 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
- Others
Market Segmentation
Based on Form:
- Polycoated Carton
- Polycoated Paper
- Polycoated Paperboard
- Others
Based on Polymer Types:
- Polyethylene
- Polypropylene
- Polyester Film Laminates
Based on Application:
- Industrial Packaging
- Food and Beverages
- Meat and Poultry
- Seafood
- Beverages
- Bakery and confectionery
- Others
- Pharmaceuticals
- Cosmetics and Personal care
- Chemicals
- Others
Based on Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
- Oceania
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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