North American Flexible Packaging Coatings for the Food and the Pharmaceuticals Markets

24 Feb, 2016, 16:42 ET from Reportlinker

NEW YORK, Feb. 24, 2016 /PRNewswire/ -- North American Flexible Packaging Coatings for the Food and the Pharmaceuticals Markets : The Desire to Reduce Food Wastage and the Regulatory Developments Steer Growth

This research service identifies the major market drivers and restraints and the regulatory and technology trends affecting the North American flexible packaging coatings market in the food and the pharmaceutical industries The product segments covered in this study are heat seal coatings, cold seal coatings, barrier coatings, co-extrusion primers, and functional additives Competitive structure and market share data are provided at the total market level The base year is 2014 and the forecast period ends in 2021 The market is primarily driven by consumer lifestyle changes and government initiatives to reduce food wastage Diversified requirements in terms of food packaging have initiated robust technical developments and target-specific products

Executive Summary

-The North American flexible packaging coatings market is growing Initiatives to prevent food wastage and the increasing shift of food and pharmaceuticals packaging from rigid and semi- rigid to flexible are the key factors driving the market

-Market expansion is majorly restrained by customers' price sensitivity and the volatile cost of raw materials, which directly influences the price of coatings

-In 2014, revenue was estimated at $ million and is expected to reach $ million in 2021, at a compound annual growth rate (CAGR) of % from 2014 to 2021

-Heat seal coatings occupy the highest volume share within the food and the pharmaceuticals segments and accounted for % of the total market in 2014 This trend is anticipated to continue throughout the forecast period

-Significant investments in specialized R&D setups in line with market trends pertaining to food and pharmaceuticals flexible packaging are facilitating M&As in the market and are expected to improve manufacturing facilities

-The market is highly fragmented In 2014, the top companies (Henkel AG & Co KGaA (Henkel), Dow Chemical Company, and ALTANA) accounted for % of the total revenue

CEO's Perspective

- Volatility in raw material prices due to reduced natural gas and crude oil rates has necessitated strategic coalitions between material suppliers and coating manufacturers
- The food industry has diversified requirements in terms of flexible packaging It is critical to formulate packaging coatings that cater to these target-specific needs; for example, in baked food, moisture retention is an important factor in terms of maintaining product quality
- The pharmaceuticals market has stringent entry barriers This has compelled coating formulators to innovate and develop novel strategies to differentiate themselves from their competitors
- Among the urban population, there is a growing need for light and convenient flexible packaging solutions with barrier coatings and functional additives, which directly drives market growth
- Coating formulators are actively focused on incorporating sustainable coatings for enhanced efficiency, recyclability, and composability


Read the full report: http://www.reportlinker.com/p03419431-summary/view-report.html

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