Can coatings market to reach $4bn by 2035

The global can coatings market size is estimated to attain at 5% CAGR from 2023 to 2035. 

The market is expected to garner a revenue of $4 billion by the end of 2035, up from a revenue of  $3 billion in the year 2022. 

The growth in the food and beverages industry is anticipated to foster the can coating market growth. 

The coatings on cans for the food and beverages are utilised on both interior and exterior surfaces for the long-lasting preservation of beverages and food content. The global consumption of packed beverages is increasing globally. 

For instance, packed water consumption exceeded almost 472.1 billion litres, and it became the most consumed packed beverage in the world. Secondly, the worldwide consumption of packaged alcoholic beverages was around 261 billion litres.

Consumption of dairy drinks amounted to 246 billion litres and energy drinks amounted to almost 81 billion litres in the year 2021. 

Hence, on the back of the rising consumption of packaged alcoholic and non-alcoholic beverages, the market is expected to garner remarkable growth in the forecasted period. 

Furthermore, people are inclined to buy canned soft drinks as Coca-Cola claims to sell almost 1.91 billion servings in around 200 countries each day. 

To preserve the food and maintain its organoleptic properties, can be used widely, subsequently, can coatings market is anticipated to flourish in the coming time duration. Various manufacturing companies are focusing on giving better coating solutions to the consumers such as corrosion resistance. 

Hence, the rising demand for specially designed coatings for protecting metal is anticipated to fuel the market growth.

Growth in Demand for Processed Food to Boost Market Growth

The canned food helps to preserve the perishable foods to be consumed to a later date. Because of the hectic lifestyle of the people nowadays, they are preferring canned food in recent years. 

On the back of the retention of high amounts of the large amounts of nutrients, flavour, and colour canned food has become one of the most demanding foods among consumers. Coatings are used to make everyday food products and play an essential role in the world’s economy, and recycling system. 

Furthermore, the steady growth in demand for sodas, sparkling waters, energy drinks, and alcoholic drinks is also expected to fuel the market growth. 

It has been estimated that almost 18.6 billion units of aerosol cans are made in the year 2023. Moreover, the interior coatings are also responsible for providing a layer between the food and the package. 

Almost all the cans are coated externally and internally with the use of films of 1 to 10 microns thickness. The packaged food industry is rising, and the usage of can coating is also increasing remarkably fuelling the market growth.

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