PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1401419
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1401419
Global Packaging Adhesives Market is valued at approximately USD 13.39 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 5.8% over the forecast period 2023-2030. Packaging adhesive. It plays a crucial role in securely sealing various types of packages, including boxes, cartons, envelopes, and containers. Packaging adhesives are essential for ensuring that the contents of a package remain intact and protected during transit and storage. The Packaging Adhesives Market is expanding because of factors such as high demand for packaging in food applications, growth in the personal care and cosmetic industry.
The food industry is witnessing a growing need for packaging adhesives, particularly in the context of various packaging formats such as flexible, rigid, and semi-rigid packaging. Within the food sector, these adhesives serve a pivotal role in packaging frozen foods, meat, poultry, seafood, ready-made meals, dairy products, and more. Their primary function is to securely seal and maintain the integrity of food packaging. By establishing strong bonds between packaging materials, these adhesives significantly contribute to prolonging the freshness and shelf life of food products. The American Frozen Food Institute (AFFI) reported the sales of frozen food has increased by 8.6% to reach USD 72.2 billion in year 2022 up from USD 66.5 billion in year 2021. Moreover, according to Statista, the global market value of food packaging was anticipated to be over USD 363 billion in 2022, and it is expected to reach USD 512 billion by the year 2028. This upsurge in demand from the food industry is a driving force behind the continuous expansion of the Packaging Adhesive Market. In addition, advancements in adhesive technologies and the growing e-commerce industry are creating new opportunities for market growth. However, strict government regulations and environmental sustainability concerns stifle market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Packaging Adhesives Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to factors such as the rising packaging manufacturing industry, rising retail industry and e-commerce sector, rising demand for consumer electronics, rising sales of frozen and packed food in the region. Whereas Asia Pacific is projected to register fastest growth owing to factors such as rising demand from various end-use industries, rising technological advancement in adhesives technology and well-established e-commerce industry in the region.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
List of tables and figures and dummy in nature, final lists may vary in the final deliverable
List of tables and figures and dummy in nature, final lists may vary in the final deliverable