Demand for Packaging Adhesives Set to Skyrocket in Far East in Future

With the expansion of the food and beverages industry, the demand for packaging adhesives is soaring all over the world. This is mainly because of the growing requirement for maintaining the shelf life or the freshness of the packaged food items, due to the increasing public awareness of health and wellness. According to All4Pack Paris, food packaging generated a revenue of $273.9 billion in 2017 and is predicted to rise to $356.7 billion revenue by 2023.

Besides the aforementioned factor, the surging urban population, the growing public awareness of health and nutrition, the emergence of busier lifestyles, and the flourishing tourism sector in various countries are also fueling the booming popularity of packaged healthy foods, which is, in turn, driving the sales of packaging adhesives across the globe. Apart from this, the increasing popularity of e-commerce, on account of the surging penetration of the internet, is also propelling the demand for these adhesives around the world.

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The rising usage of low-tack adhesives (LTAs) for various reclosable applications is creating lucrative growth opportunities for the players operating in the packaging adhesives industry. Due to their high-adhesion ability in various reclosable applications, these adhesives provide better usability and a highly cost-competitive option to the product manufacturing organizations for multiple packaging applications. Additionally, the goods with LTAs do not need accurate alignment for reclosing a packaging, unlike the conventionally used zipper seals.

Due to the above-mentioned factors, the sales of packaging adhesives are mushrooming all over the world. This is, in turn, propelling the growth of the global packaging adhesives market. As a result, the valuation of the market is predicted to rise from $10,426.9 million in 2019 to $17,137.4 million by 2030. Furthermore, the market is predicted to advance at a CAGR of 4.6% between 2020 and 2030. Based on formulation, the market is classified into water-based, solid-based, and solvent-based.

Out of these, the water-based category recorded the highest growth in the market in the past years. This is because the water-based packaging adhesives are highly eco-friendly in nature and do not consist of toxic volatile organic compounds (VOCs), unlike the more widely used solvent-based adhesives, which are extremely hazardous for the human health as well as the environment. Geographically, the packaging adhesives market would boom in the Far East region in the upcoming years.

According to P&S Intelligence, a market research firm based in India, the key factors driving the sales of packaging adhesives in the region are the rapid expansion of the consumer goods manufacturing sector and the growth of the e-commerce industry in South Korea, Japan, and China. As packaging adhesives are used heavily in the e-commerce industry for labeling, which is required for product tracing, the expansion of the e-commerce industry is positively impacting the packaging adhesives market growth.

Thus, it can be said with certainty that the demand for packaging adhesives would shoot-up across the world in the upcoming years, mainly because of their rising requirement in the food and beverages and e-commerce industries for various applications.