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    Market Research

    Global Market for Rigid Packaging Adhesives Forecast to Grow by 4.3% (CAGR) to $18.2B by 2021

    ...

    Related CONTENT
    • Global Market for Rigid Packaging Adhesives Forecast to Grow by 4.3% (CAGR) to $18.2B by 2021
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    • MarketLine: Global Paints and Coating Market Value Surpassed $141 Billion in 2015
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    02.28.17
    The global market for rigid packaging adhesives was estimated to be worth $14.7 billion in 2016. The market is expected to reach $18.2 billion by 2021 driven by an overall compound annual growth rate (CAGR) of 4.3% over the next five years, according to Smithers Apex.

    Smithers Apex’s new report – The Future of Adhesives for Packaging to 2021 [http://www.smithersapex.com/market-reports/the-future-of-adhesives-for-packaging-to-2021] – states that growth within the global packaging adhesives market is being fuelled by an increase in the consumption of packaged food and consumer goods, mostly in Asia, Africa and the Middle East as these markets transition to a more western-style of consuming food and other products. Expansion forecasts for Asia in the second half of the decade is less than 2011-2015 growth rates, although it is still stronger than the moderate growth that is forecast for the mature economies of North America and Western Europe.

    John Nelson, Commissioning Editor at Smithers Apex, comments: “Packaging is the largest application within the adhesive sector and continues to support the growing trend of consumerism, pre-packed food and other articles purchased in a packaged format. As urbanisation worldwide continues to evolve, the habit of buying packaged goods in shops, supermarkets and convenience retail outlets will displace other means of obtaining goods – such as local markets.

    “Although this modern way of purchasing and preparing food is well established in advanced economic regions – such as North America and Western Europe – the move towards packaged food and supermarket shopping is still evolving in many regions – such as Africa and the Middle East. This is driving the demand for packaging materials which in turn use packaging adhesives.”

    The largest market by end-use applications is food, which continues to grow due to lifestyle and demographic changes. Smaller single packs in consumer food is on the rise due to changes in family structures, with the traditional nuclear family becoming a less frequent phenomena, and a corresponding increase in single-person households. The largest segment within this category is frozen & chilled food that is estimated to be around $749 million of this entire market for 2017 and is forecast to grow to $1 billion by 2022.

    Rising demand for smaller single packs is also driven by lifestyle changes and the desire for convenience, with the trend of consuming drinks and food “on the go.” This is beneficial for the adhesives segment as smaller packs require proportionally more adhesive to deliver the same volume of product. These gains are being partially countered however by industry trends towards economy and new technologies that allow a smaller volume of adhesive to deliver the same strength of bond in key packaging formats.

    The Future of Adhesives for Packaging to 2021 [http://www.smithersapex.com/market-reports/the-future-of-adhesives-for-packaging-to-2021] report is based on a combination of in-depth primary and secondary research. Primary research is founded on interviews with industry experts from across the supply chain, including leading adhesive and packaging suppliers, converters, brand owners and retailers. Secondary research is based on extensive desk research and literature reviews of market and company reports, magazine and journal abstracts, packaging trends and market information, and conference proceedings.
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