Barrier Coatings for Packaging Industry size is expected to register 10% CAGR between 2024 and 2032 propelled by increasing demand for sustainable packaging.

Selbyville, Delaware, Nov. 20, 2024 (GLOBE NEWSWIRE) -- Barrier Coatings for Packaging Market was valued at USD 12.3 billion in 2023 and is projected to be worth USD 30 billion by the end of 2032, as per a recent study by Global Market Insights Inc.

This market is driven by the increasing focus on sustainability and innovation, with companies developing eco-friendly solutions to meet both consumer demands and regulatory requirements. The expanding food and beverage sector, especially in the e-commerce space, drives the need for high-performance coatings that protect products during transportation. Additionally, advancements in smart packaging technology enhance functionality and engage consumers while the industry adapts to evolving safety standards and environmental concerns.

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When segmented by technology, the barrier coatings for packaging market includes water-based coatings, solvent-based coatings, and others. Water-based coatings are expected to witness significant growth, with a projected CAGR of over 11%, and are estimated to exceed USD 17 billion by 2032. These coatings are gaining popularity due to their eco-friendly composition, lower chemical content, and broad versatility. Their compliance with stringent environmental regulations and widespread application in the food and beverage sector further contribute to their rising adoption.

By end-use industry, the barrier coatings for packaging market caters to food and beverage, pharmaceuticals, cosmetics and personal care, industrial, household products, and others. In 2023, the food and beverage segment led the market, accounting for over 40% of total share. This dominance is attributed to the rising demand for packaged foods, driven by consumer preferences for convenience and safety. Barrier coatings play a critical role in preserving the quality of food products and extending shelf life. The growing awareness of health and hygiene has heightened the demand for safe packaging solutions that prevent contamination, boosting the need for advanced barrier coatings.

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Regionally, North America barrier coatings for packaging market held a substantial share of the global market, with over 35% in 2023. The U.S. is experiencing rapid growth due to increasing demand for sustainable packaging solutions and stricter environmental regulations. This regulatory push is prompting companies to develop innovative coating technologies, particularly in the food and beverage sector. With its strong manufacturing base and efficient supply chain, the U.S. is quick to adopt new technologies.