The South East Asia Can Coating market is projected to grow at an astronomical rate owing to the factors such as a boost in the rising expenditure on food & beverages, growing discretionary income, and increasing middle class population. Moreover, the strong growth in food & beverages market, burgeoning inclination toward canned food due to a rise in the working population, and launch of various beverages such as zero-sugar beverages such as Coca-Cola Zero Sugar are anticipated to strongly contribute toward the growth in the forecast period.
According to MarkNtel Advisors’ research report titled “Southeast Asia Can Coating Market Analysis, 2020”, the Southeast Asia Can Coating market is anticipated to grow at a considerable CAGR during 2020-25. Based on Application, Food acquired the substantial market share in 2019. The growth of the market is attributed to increasing demand for items such as canned meat, increasing trend of mobile food products, and escalating population. However, the COVID-19 pandemic has had a positive impact on the can coating market due to panic purchase of canned foods in the countries such as Singapore, Thailand, and Malaysia. Thus, this is driving the growth of the market in the coming years. Therefore, it is projected to fuel the demand for can coating in the forthcoming timeline.
“Southeast Asia Can Coating Market Analysis, 2020” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and growth opportunities available for Can Coating providers across the region. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.
Singapore Acquired the Considerable Market Share
Singapore acquired the considerable market share in the Southeast Asia Can Coating in 2019. This is due to the increasing demand for canned products from the food and beverage industry on account of change in consumer lifestyle and growing population, launch of various forms of innovative canned food and drinks products, coupled with surging investment toward mobile supermarkets and significant product developments in can coatings, which are anticipated to fuel the market growth of the Can Coating in the forthcoming period as stated in the MarkNtel Advisors’ research report “Southeast Asia Can Coating Market Analysis, 2020”.
According to MarkNtel Advisors, the key players with a considerable market share in the Southeast Asia include Akzo Nobel, Toyochem, Nipsea group, Tincan Industry Co., Ltd., etc.
Key questions answered in the study