Packaging Coating Additives Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

Packaging Coating Additives Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

The market for Packaging Coating Additives is expected to grow at a CAGR of over 5% during the forecast period. Major factors driving the market studied are increasing demand in industrial packaging and growing demand of anti-fog and anti-microbial additives in food & beverages packaging applications. On the flipside, strict government policies regarding the use of plastics and unfavorable conditions arising due to the COVID-19 outbreak are hindering the growth of market.

Rising demand for flexible coating additives and growing trend for e-commerce in developing as well as developed countries are expected to offer ample opportunities for the growth of market.

By application, food packaging segment is expected to dominate the market owing to the rising health awareness and growing online food delivery sector.

Asia-Pacific region dominated the market across the globe with the largest consumption from countries such as China, India and Japan.

• Packaging Materials are prone to problems such as friction and chemical stability. To improve the performance of packaging coating materials, additives are added which increases the pH stability, make surface friction-less and induce anti-microbial properties to the packaged food items.
• Packaged and processed foods consumption is increasing globally owing to increasing disposable income and hectic lifestyle of consumers which will help in stimulating the demand of packaging coatings thus enhancing the demand of packaging coating additives.
• Increasing sales of packaged and processed foods will help in increasing the demand of packaging coating additives as they help in preventing food spoiling & leakage and also help in increasing the serviceable life of packaged food items.
• Furthermore, the use of anti-fog packaging coating additive helps to increase the sales of packaged foods items as antifog additives helps to maintain clarity and transparency of packaged coatings thus making food items clearly visible to the customer.
• The food packaging market value is projected to reach USD 423.27 billion by 2025 from USD 308.73 billion in 2019 which is expected to increase the demand of packaging coating additives and will help in fueling its market growth during the forecast period.
• Owing to the aforementioned factors, the packaging coating additives market is expected to grow rapidly during the forecast period.

• Asia-Pacific region is expected to dominate the market for packaging coating additives during the forecast period. In countries like China and India due to significant rise in the income of middle-class population and increasing demand of packaged foods, the demand for packaging coating additives has been increasing in the region.
• Growth in e-commerce is expected to provide lucrative opportunities for packaging coatings industry and consequently for packaging coating additives market in the region. Food & beverages packaging segment is the fastest growing among them.
• China holds the largest share in the e-commerce market accounting for more than 30% of the total e-commerce sales.
• The revenue from food and beverages sector is expected to show a CAGR of over 9% during the forecast period in countries like India and China which will help in increasing the demand of packaging coating additives in the region.
• Some of the major companies operating in Asia-Pacific region are BASF SE and Croda International Plc.
• The aforementioned factors coupled with the government support have helped in the growth of packaging coating additives market.

The Packaging Coating Additives market is highly fragmented with players accounting for a marginal share of the market. Major companies in the market include Croda International Plc, Lonza, Arkema Group, 3M, and Clariant.

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support