Increasing demand processed food drive coating market

Increasing demand for processed food to drive can coating market

11:36 AM, 20th August 2019
Food can coatings
Growing processed and canned food market to fuel demand for food can coatings. Photo: Evonik

Food can coatings market is set to increase with rapid growth owing to the transforming lifestyle and rising disposable income across the global over the recent years. Moreover, swelling demand for processed food packaging will drive the food can coatings market share.

Developing packaging industry and its expansion across the global along with rising demand for preserved food is the key factor that has powered the food can coating demand internationally. The food can coating minimizes the interaction between the food and can. The specialty coatings also helps to preserve the taste of food and store it for a longer duration of time. The can coating mainly prevents chemical mitigation into food, by shielding metal of the can and maintains the nutritional properties of the food for long periods. Furthermore, can coating prevents food contamination by resisting bacterial attack and corrosion, which in term will surge the product demand during the projected timeframe.

The demand for food can coating in recent years has grown due to increasing processed food from packaging industry. Moreover, its rising usage in meat and fruits based can packaging applications will swell the product market size.

Can coating in metal packaging products provides resistance to foodstuffs as well as acidic additives. Moreover, it’s protection and decorative aesthetics will increase their demand for various applications, globally. High product cost may hamper the food can coatings market size. This will cap their production and profit margin among product manufacturers and suppliers, which will in turn may restrict the product growth in the market during the forecasted period.

Based on type, food can coatings market is categorized into epoxy, polyester, acrylic and others that includes polyolefin, oleoresins, alkyd, vinyl, etc. epoxy coatings holds maximum market share among all types owing to its easy processing and less expensive nature. However, their toxic nature and stringent regulations by many countries has replaced its usage with polyester and acrylic coatings among different food manufacturing and companies. This has increased the demand for polyester, acrylic and other coatings for various packaging applications.

By formulation, food can coating are classified into, solvent based, water based, UV cured and others that mainly includes oil based and powder coating. Solvent based coating releases high quantities of volatile organic compounds that limits its share in the segment. However, water-based coating as offer better pigment dispersion, wetting and viscosity control, which finds wide applications for can coating. Low processing temperature and rapid curing makes UV cured favorable for external coating of cans although its expensive nature limits their share in the segment.

Furthermore, powder coatings technologies that requires flame spraying and electrostatic deposition and are heat-cured that does not provide any variety in texture, color, and finish which restricts their application to specific end-users.

On the basis of application, food can coatings market are classified into meat, fruits, vegetables and other applications. Rising demand for fruits and meat packaging for their preservation and storage in addition to vegetable packaging will surge the product demand in the coming years.

Asia Pacific is projected to grow with a significant CAGR owing to rise in food packaging industries in the region. Growing processed and canned food market in emerging countries such as China, India, Indonesia and South Korea are likely to surge the product market in the region.

Moreover, transforming lifestyle and rising disposable income has also resulted an increase in demand for the product in the region. North American region is expected to remain a key market for food can coating owing to massive change in government regulations for food safety, adulteration, health & hygiene over the recent years. Recycling of metal cans in various developed and developing countries is likely to boost its demand in other regions during the anticipated timespan.

Some of the key players in the product market are PPG Industries, AkzoNobel, Altana AG, Toyo Chem, Tiger Coatings GmbH, VPL packaging coatings, Kangnam Jevisco, Dow Chemical, Valspar, Srisol, etc.

Source: Global Markets Insights



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