Food and Pharma Demand for Green Packaging Transforms the Flexible Packaging Coatings Market
Price concerns regarding sustainable coatings will be countered by their environmental and durability benefits, finds Frost & Sullivan
MOUNTAIN VIEW, California, Feb. 2, 2016 /PRNewswire/ -- The flexible packaging coatings market is set to witness robust growth due to the increasing need to enhance the shelf life of products in the North American food and pharmaceutical industries. Packaging coatings for the food segment holds the largest market trailed by the pharmaceutical sector. The latter trails as a result of the stringent regulations and long duration taken for product launch, making pharmaceuticals a less ventured sector. In addition, rising consumer preference for lightweight products and the need to improve the quality of packaged contents are opening new avenues for market expansion of flexible packaging coatings.
Photo - http://photos.prnewswire.com/prnh/20160201/328417
Recent analysis from Frost & Sullivan, North American Flexible Packaging Coatings for the Food and the Pharmaceuticals Markets (http://www.frost.com/nf82), finds that the market earned revenues of $1.44 billion in 2014 and estimates this to reach $1.97 billion in 2021. The study covers heat seal coatings, cold seal coatings, barrier coatings, co-extrusion primers and functional additives.
For complimentary access to more information on this research, please visit: http://frost.ly/17
The enhanced efficiency, recyclability and composability of sustainable coatings will make green packaging a feasible option for North American market participants. Higher adaptation of sustainable coatings is observed throughout the forecast period. Thus, in place of solvent-based resins, formulators are turning to bio-based alternatives to develop flexible packaging coating solutions.
"Approximately 50 percent of the US population aged between 18 and 35 prefers to purchase products with labels that declare them to be environment friendly," said Frost & Sullivan Visionary Science Team Leader Nandhini Rajagopal. "As this section of the population is willing to pay a premium for products with recyclable packaging."
The price value offered by packaging coatings has encouraged cost conscious integrated packaging providers and pure players to adapt the product. Technological innovations in flexible packaging coatings such as ultra-thin coatings using nanotechnology and bio-based solutions offer significant growth opportunities. These coatings provide superior barrier protection as well as help in lowering the packaging layers, thus providing comprehensive quality and convenience.
"Evidently, novel flexible packaging coatings with an attractive price-performance ratio and innovative customer support services are key differentiators in the highly competitive and fragmented market," summed up Rajagopal. "With the growing presence of participants with specialized product development capabilities and the need for heavy investments in R&D set-ups for innovation, tier 1 participants will enjoy considerable opportunities for mergers and acquisitions."
North American Flexible Packaging Coatings for the Food and the Pharmaceuticals Markets is part of the Chemicals & Materials (http://ww2.frost.com/research/industry/visionary-science/future-chemicals-materials-infrastructure-mobility/) Growth Partnership Service program. Frost & Sullivan's related studies include: Global Process and Production Chemicals for Electronics, Growth Opportunity Analysis of the Global Tapes Market, Global Polyols Market, Wood Coatings Market in NA and Europe, and Investment Analysis of the North American Packaging Industry and Trends in Western European Bioplastics in Packaging Market. All studies included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.
About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants.
Our "Growth Partnership" supports clients by addressing these opportunities and incorporating two key elements driving visionary innovation: The Integrated Value Proposition and The Partnership Infrastructure.
- The Integrated Value Proposition provides support to our clients throughout all phases of their journey to visionary innovation including: research, analysis, strategy, vision, innovation and implementation.
- The Partnership Infrastructure is entirely unique as it constructs the foundation upon which visionary innovation becomes possible. This includes our 360 degree research, comprehensive industry coverage, career best practices as well as our global footprint of more than 40 offices.
For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Is your organization prepared for the next profound wave of industry convergence, disruptive technologies, increasing competitive intensity, Mega Trends, breakthrough best practices, changing customer dynamics and emerging economies?
Contact Us: Start the discussion
Subscribe: Newsletter on "the next big thing"
Register: Gain access to visionary innovation
North American Flexible Packaging Coatings for the Food and the Pharmaceuticals Markets
NF82-39
Contact:
Jaylon Brinkley
Corporate Communications – North America
P: (210) 247.2481
F: (210) 348.1003
E: jaylon.brinkley@frost.com
Share this article