An analysis of packaging

Increasing consumer awareness regarding the use of eco-friendly packaging products is anticipated to drive the demand for packaging adhesives. Packaging adhesives PA are manufactured using various technologies such as water-based, solvent-based, and hot melt. They are used in a wide range of applications such as non-rigid bonding in textiles, flexible packing, and structural usage for assembly operations to provide high bonding strength.

An analysis of packaging

Growing product penetration in various applications, including food and beverages, personal care, household care, electrical and electronics, and automotive, is expected to act as a key driver for market growth over the forecast period.

Food and beverages is one of the fastest-growing industries globally, owing to changing lifestyles and consumer preference for eating on-the-go, ready-to-eat, frozen foodsand processed foods. The growth of the food industry in developing economies of Asia Pacific is expected to drive market growth globally.

The primary functions of packaging are to offer protection to the products, inform consumers about its features, enable its transportation over long distances, and storage. Improved chemical and mechanical An analysis of packaging such as moisture resistance, thermal resistance, and higher strength-to-weight ratio exhibited by various plastics has led to an upsurge in use of such packing solutions for personal and household care applications.

However, growing environmental concerns regarding disposal of these products is expected to hamper growth. Type Insights On the basis of type, the market has been segmented into rigid and flexible.

The rigid segment is expected to witness steady growth over the forecast period on account of its increasing usage in industrial applications.

Use of rigid plastic bottles and canisters for packing, storage, and transportation of chemicals and gaseous materials is expected to drive segment growth over the next few years.

Plastics are being increasingly used for flexible packaging solutions owing to easy disposal, light weight, and consumer convenience. The flexible segment was valued at USD This growth can be attributed to rapidly increasing demand for flexible packing solutions in food and beverage, personal care, and household care applications.

Free Packaging Analysis

Product Insights On the basis of product, the market has been segmented into bottles, cans, wraps and films, bags, pouches, and others. These products cater to the requirements of various end-use industries, including food and beverages, personal care, household care, consumer electronics, construction, and chemicals.

Bottles formed the largest segment in in terms of revenue, followed by bags and wraps and films. Plastic bags are the most widely used packaging solutions by various end-use verticals; however, the product segment is expected to witness slow growth owing to rising environmental concerns regarding usage and disposal of such bags.

Several environmental threats concerning their disposal in deep water bodies are likely to hamper segment growth in the coming years.

Wraps and films is expected to be the fastest growing product segment in the plastic packaging market.

An analysis of packaging

The segment is expected to witness significant growth over the next few years owing to increasing use of protective wraps and films for packaged foods, frozen foods, and ready-to-eat food applications. Application Insights On the basis of application, the market has been segmented into food and beverages, industrial packaging, and personal and household care.

The food and beverages segment accounted for a revenue share of over Growing demand for packaged foods owing to change in consumer lifestyle has driven segment growth in recent years and the trend is expected to continue over the forecast period. In addition, growth of the beverages industry, led by product categories such as liquor and energy drinkshas resulted in increased demand for plastic packaging.

The personal and household care application segment is expected to witness a CAGR of over 4. Personal care packaging includes that of products such as cosmetics and toiletries.

An analysis of packaging

This industry has witnessed tremendous growth over the past few years owing to rising consumer awareness toward grooming and hygiene. Growing awareness about health and wellness in developing countries is also expected to play a key role in segment growth over the forecast period. Regional Insights As ofAsia Pacific dominated the global market, in terms of revenue, with a share of just over Rapidly-growing end-use industries in key economies such as China, India, Vietnam, South Korea, and Thailand is expected to drive demand for plastic packaging in the region over the forecast period.

China dominated the Asia Pacific market in terms of both demand and production. Expanding food and beverages, personal care, automotive, consumer electronics, and construction industries in the country will act as key drivers for the growth of the market over the forecast period.

Changing lifestyles and consumer preferences in terms of food are expected to propel the growth of the food and beverages industry in North America, most notably for products that are ready-to-eat, thus influencing demand for plastic packaging in the region. In addition, introduction of new products by end-use vendors is expected to further impact demand in North America.

Industry players face intense competition as majority of them are among the top suppliers and have a large consumer base. These players are well-established and have strong and vast distribution networks.

They mainly cater to the food and beverage, industrial packaging, and household and personal care industries.Industry insights. The global packaging adhesives market size was worth USD billion in Increasing consumer awareness regarding the use of eco-friendly packaging products is anticipated to drive the demand for packaging adhesives.

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