Packaging Adhesives Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Report Covers Packaging Adhesives Market Suppliers and is Segmented by Technology (Water-Based, Solvent-Based, and Hot-Melt), Application (Flexible Packaging, Folding Boxes and Cartons, Sealing, Labels and Tapes, and Other Applications), and Geography (Asia-Pacific, North America, Europe, South America, and Middle East and Africa). The Market Size and Forecasts for this Market are Provided in Revenue (USD billion) for all the Above Segments.

Packaging Adhesives Market Size

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Packaging Adhesives Market  Summary
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Study Period 2019 - 2029
Market Size (2024) USD 29.20 Billion
Market Size (2029) USD 39.89 Billion
CAGR (2024 - 2029) 6.44 %
Fastest Growing Market Asia-Pacific
Largest Market Asia-Pacific

Major Players

Packaging Adhesives Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Packaging Adhesives Market Analysis

The Packaging Adhesives Market size is estimated at USD 29.20 billion in 2024, and is expected to reach USD 39.89 billion by 2029, growing at a CAGR of 6.44% during the forecast period (2024-2029).

The market was marginally impacted by COVID-19 in 2020. The COVID-19 pandemic limited dining out and led to increases in home cooking. With that, significant drops in the production values of juices, water, soft drinks, and alcoholic beverages were nearly offset by growth in wheat flour, dairy, health foods, and convenience or ready-to-eat foods.

  • The factors driving the growth of the market studied are the growing demand from the food and beverage industry, increasing awareness about food safety , and avoiding risks of contamination.
  • On the flip side, the impact of regulations on various raw materials to be used for manufacturing adhesives may hinder the market's growth.
  • However, the rapid growth in e-commerce will further provide opportunities for the market to grow.
  • Asia-Pacific accounted for the highest share of the market, and it is likely to continue dominating the market during the forecast period.

Packaging Adhesives Market Trends

This section covers the major market trends shaping the Packaging Adhesives Market according to our research experts:

Flexible Packaging Application to Witness the Highest Growth Rate

  • Flexible packaging is growing at an impressive rate, driven by consumer preferences shifting toward new attractive packages, ease of use, sustainability, and conscientious environmental ideals.
  • Laminating adhesives for flexible packaging are available in various technologies, viscosities, and solids concentrations. There are four basic categories of laminating adhesives that are commonly used. These are waterborne, solvent-based, reactive 100% solid (solventless) liquid, and hot melt.
  • Solvent-based adhesives used in flexible packaging are generally two-component polyurethane laminating adhesives. These are designed for use in the dry lamination process.
  • Flexible packaging is also the most significant application type for VAE adhesives. Another large category is laminating applications due to their flexibility, moisture resistance, and superior substrate adhesion.
  • With the growing population in countries such as the United States, China, and India, the requirement for food is increasing, thus resulting in increased demand for flexible packaging worldwide.
  • According to the Flexible Packaging Association (FPA), the total US flexible packaging industry registered more than USD 35.6 billion in annual sales by the end of 2020. The flexible packaging industry includes packaging for retail and institutional food and non-food, medical and pharmaceutical, industrial materials, and retail shopping bags, among others. The US food industry is the largest segment for flexible packaging.
  • Furthermore, packaging adhesives are also used in lidding films, which are a type of flexible packaging film commonly made by using foils, paper, polyester, polyethylene, and others generally used to seal paperboard pints, plastic containers, and trays for food items, including dairy products such as cottage cheese, sour cream, and others.
  • The food industry worldwide is estimated to generate a revenue of USD 8.8 trillion in 2022. The market is expected to register a CAGR of 4.79% during 2022-2027.
  • Hence, the factors above, such as increasing demand from the food industry and growing flexible packaging, will likely boost the market demand for packaging adhesives during the forecast period.
Packaging Adhesives Market : Packaging Adhesives Market, Revenue CAGR (%), by Application, Global, 2022-2027

Asia-Pacific to Dominate the Market

  • Asia-Pacific currently accounts for the highest share of the packaging adhesives market, owing to the high demand from countries like China, Japan, India, etc.
  • China is the leading country in the consumption of packaging adhesives due to growing per capita income, coupled with rising e-commerce giants in the country.
  • According to the National Bureau of Statistics of China, the total retail sales revenue of consumer goods accounted for CNY 39,198.07 billion (~ USD 5532.31 billion) in 2020, which rose to CNY 44,082.34 billion (~ USD 6221.66 billion) in 2021, thereby enhancing the consumption of adhesives from consumer goods packaging and shipping activities.
  • Additionally, China has one of the largest food industries globally. The country is expected to witness consistent growth during the forecast period due to the rise of customized packaging in the food segment, like microwave, snack, and frozen foods, and increasing exports. The use of packaging adhesives is expected to increase in the future.
  • Furthermore, In India, the food industry is among the largest consumers of packaging adhesives. Some key end-user sectors of packaging adhesives include pharmaceuticals, personal care products, consumer electronics, etc. Increasing demand from these end-user segments is creating a huge market growth potential.
  • In India, the packaging industry is also increasing at a rapid rate. It is the fifth-largest sector in India's economy and is currently one of the fastest and highest-growing sectors in the country. Amid the e-commerce surge, the Indian packaging industry is witnessing steep growth and is one of the strongest growing segments.
  • According to the Indian Institute of Packaging (IIP), packaging consumption in India increased by 200% in the past decade, from 4.3 kgs per person per annum (pppa) to 8.6 kgs pppa.
  • Hence, owing to the above-mentioned factors, Asia-Pacific is likely to dominate the market studied during the forecast period.
Packaging Adhesives Market - Growth Rate by Region, 2022-2027

Packaging Adhesives Industry Overview

The packaging adhesives market is fragmented, as no major company holds a significant share of the global market. Global companies are significantly focusing on R&D and collaborations to develop new technologies to maintain their market presence and foothold. Some of the key players in the market include Henkel AG & Co. KGaA, H.B. Fuller, Dow, Arkema (Bostik), and Avery Dennison Corporation.

Packaging Adhesives Market Leaders

  1. Henkel AG & Co. KGaA

  2. H.B. Fuller Company

  3. Arkema (Bostik)

  4. Avery Dennison Corporation

  5. Dow

*Disclaimer: Major Players sorted in no particular order

Packaging Adhesives Market Concentration
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Packaging Adhesives Market News

  • March 2022: The Confederation of European Paper Industries (Cepi) announced that H.B. Fuller Company joined the 4evergreen alliance, a cross-industry initiative to improve the circularity of fiber-based packaging.
  • January 2021: Avery Dennison acquired the business of Ohio-based ACPO Ltd for USD 87.6 million, subject to post-closing adjustments. With approximately 170 employees, ACPO produces pressure-sensitive overlaminate products for the label and flexible packaging markets.

Packaging Adhesives Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Growing Demand from the Food and Beverage Industry

      2. 4.1.2 Increasing Awareness for Food Safety

    2. 4.2 Restraints

      1. 4.2.1 Strict Government Regulations

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION (Market Size in Value)

    1. 5.1 By Technology

      1. 5.1.1 Water-based

      2. 5.1.2 Solvent-based

      3. 5.1.3 Hot-melt

    2. 5.2 By Application

      1. 5.2.1 Flexible Packaging

      2. 5.2.2 Folding Boxes and Cartons

      3. 5.2.3 Sealing

      4. 5.2.4 Labels and Tapes

      5. 5.2.5 Other Applications

    3. 5.3 By Geography

      1. 5.3.1 Asia-Pacific

        1. 5.3.1.1 China

        2. 5.3.1.2 India

        3. 5.3.1.3 Japan

        4. 5.3.1.4 South Korea

        5. 5.3.1.5 ASEAN Countries

        6. 5.3.1.6 Rest of Asia-Pacific

      2. 5.3.2 North America

        1. 5.3.2.1 United States

        2. 5.3.2.2 Canada

        3. 5.3.2.3 Mexico

      3. 5.3.3 Europe

        1. 5.3.3.1 Germany

        2. 5.3.3.2 United Kingdom

        3. 5.3.3.3 France

        4. 5.3.3.4 Italy

        5. 5.3.3.5 Rest of Europe

      4. 5.3.4 South America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Argentina

        3. 5.3.4.3 Rest of South America

      5. 5.3.5 Middle East and Africa

        1. 5.3.5.1 Saudi Arabia

        2. 5.3.5.2 South Africa

        3. 5.3.5.3 Rest of Middle East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Ranking Analysis

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 3M

      2. 6.4.2 Arkema Group (Bostik)

      3. 6.4.3 AVERY DENNISON CORPORATION

      4. 6.4.4 Ashland

      5. 6.4.5 Dow

      6. 6.4.6 Henkel AG & Co. KGaA

      7. 6.4.7 H.B. Fuller Company

      8. 6.4.8 Jowat SE

      9. 6.4.9 Paramelt RMC B.V.

      10. 6.4.10 Wacker Chemie AG

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Rapid Growth of the E-commerce Industry

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Packaging Adhesives Industry Segmentation

Packaging adhesives are mainly used for advanced bonding to meet demanding applications in a wide variety of end-use market products such as boxes and cartons. They can be of different types, such as water-based, which are developed using a combination of water, polymers, and additives. 

The packaging adhesives market is segmented on the basis of technology, end-user industry, and geography. By technology, the market is segmented into water-based, solvent-based, and hot melt. By application, the market is segmented into flexible packaging, folding boxes and cartons, sealing, labels and tapes, and other applications (corrugated packaging, specialty packaging). The report also covers the market size and forecasts for the packaging adhesive market in 15 countries across the major regions. For each segment, the market sizing and forecasts have been done on the basis of revenue (USD million).

By Technology
Water-based
Solvent-based
Hot-melt
By Application
Flexible Packaging
Folding Boxes and Cartons
Sealing
Labels and Tapes
Other Applications
By Geography
Asia-Pacific
China
India
Japan
South Korea
ASEAN Countries
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle East and Africa
Saudi Arabia
South Africa
Rest of Middle East and Africa
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Packaging Adhesives Market Research FAQs

The Packaging Adhesives Market size is expected to reach USD 29.20 billion in 2024 and grow at a CAGR of 6.44% to reach USD 39.89 billion by 2029.

In 2024, the Packaging Adhesives Market size is expected to reach USD 29.20 billion.

Henkel AG & Co. KGaA , H.B. Fuller Company , Arkema (Bostik), Avery Dennison Corporation and Dow are the major companies operating in the Packaging Adhesives Market.

Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the Asia-Pacific accounts for the largest market share in Packaging Adhesives Market.

In 2023, the Packaging Adhesives Market size was estimated at USD 27.43 billion. The report covers the Packaging Adhesives Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Packaging Adhesives Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Packaging Adhesives Industry Report

Statistics for the 2024 Packaging Adhesives market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Packaging Adhesives analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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Packaging Adhesives Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)