How is Increasing Preference for Online Shopping Driving demand for Packaging Adhesives?


Posted October 9, 2020 by ManishBaghel

In 2030, the global packaging adhesives market is predicted to generate a revenue of $17,137.4 million, increasing from $10,426.9 million in 2019. The market is further expected to register a 4.6% CAGR during the forecast period (2020–2030).
 
The e-commerce industry has been growing rapidly since the past few years. This can majorly be attributed to the increasing disposable income of people, surging penetration of internet, and growing adoption of smartphones all over the globe. Ever since the advent of online shopping, the preference for these platforms has been rising, as they offer people convenient and often cheap services. Customers can get any sort of product delivered to their doorstep without any hassle.

This expansion of the e-commerce industry is also driving the growth of the packaging industry. Owing to all these factors, the global packaging adhesives market is projected to grow at a significant pace in the coming years. These adhesives are an important part of the packaging industry, and hence, the growth of the industry is bound to lead to their high demand. Packaging adhesives provide the needed strength and resilience to packaging materials so that the inside product can remain safe from any kind of harm.


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In 2030, the global packaging adhesives market is predicted to generate a revenue of $17,137.4 million, increasing from $10,426.9 million in 2019. The market is further expected to register a 4.6% CAGR during the forecast period (2020–2030). When resin type is taken into consideration, the market is categorized into polyvinyl acetate, acrylic, polyamide, polyurethane (PU), ethyl vinyl acetate, and rubber. Out of these, the acrylic category held the largest share of the market in 2019.

The high-volume consumption of these adhesives in industries such as personal care, food & beverage, and e-commerce is driving growth of the regional domain. Packaging adhesives are majorly being consumed China and Japan, where the e-commerce industry has registered substantial growth. As the preference for online shopping increase, the requirement for cartons and corrugated boxes for delivering products will increase as well. This, in turn, will drive the demand for packaging adhesives. The region is further predicted to register the fastest growth during the forecast period, owing to such factors.

In conclusion, the market is being driven by the expanding e-commerce industry and need for sustainable packaging adhesives.
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Issued By Manish Kumar
Business Address Noida
Country India
Categories Business , Industry , Research
Tags packaging adhesives market , packaging adhesives market future , packaging adhesives market growth , packaging adhesives market overview , packaging adhesives market share , packaging adhesives market size , packaging adhesives market trends
Last Updated October 9, 2020