The packaging business is one of the leading contributors to the throwaway culture, which is responsible for the millions of tonnes of waste produced each year. As a result, rising environmental concerns have prompted packaging industry sustainability trends, which have boosted the usage of metal packaging solutions.
The growing move from plastic to metal in the packaging industry is driving the metal packaging coatings market. According to a recent market study published by Fact.MR, the use of metal packaging solutions has reached new heights in numerous industrial applications in recent years, and the report remains bullish on the growth of metal packaging coatings industry.
New Trends in Food & Beverage Packaging will Spur Demand for Metal Packaging Coatings
The growing need for environmentally friendly and sustainable packaging has put a lot of pressure on the packaged food and beverage industry. The choice of proper packaging materials is critical for maintaining product integrity and conservation during the consignment and storage process. Despite the cheaper cost and functional benefits of plastic packaging, the food and beverage industry is moving toward active packaging technologies, which is increasing the usage of metal packaging for food and beverages.
According to the MR report, beverage cans will continue to produce the highest demand for metal packaging coatings, leading sales of various metal packaging coating product types by 2018. As a result, modern food and beverage businesses’ preference for metallic food packaging bodes well for metal packaging’s further expansion.
Metal Packaging Coatings Market Product Insights: Preference for Beverage Cans to Buttress Global Metal Packaging Coatings Market Growth:
Beverage cans dominated the metal packaging coatings market in terms of value and volume throughout the historical period, and they are expected to continue to do so in the future. By 2030, beverage cans are expected to account for more than half of global demand. In the near future, this scenario will dominate. During the projected period, the beverage cans segment is expected to grow at a CAGR of 4%.
In addition, multilayer films made with substrates and coatings are becoming increasingly common. This is due to its ability to extend shelf life without sacrificing product scent. The global metal packaging coatings market would provide profitable prospects for industry players based on the aforementioned developments.