Packaging Tapes Market Trends

Statistics for the 2023 & 2024 Packaging Tapes market trends, created by Mordor Intelligence™ Industry Reports. Packaging Tapes trend report includes a market forecast to 2029 and historical overview. Get a sample of this industry trends analysis as a free report PDF download.

Market Trends of Packaging Tapes Industry

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

Booming E-Commerce Industry

  • According to the State of Commerce report, it is observed that around 56% of consumers globally are spending less time in physical stores and more time online for their shopping needs.
  • E-commerce provides a platform not only for the big players but also the small and medium-scale industries to reach out to their targetted consumers more effectively while also helping to save up on expenses associated with a physical store like real estate mortgage, in-store labor cost, and other expenses.
  • The global e-commerce industry is currently estimated to be valued at around USD 5.5 trillion. It is expected to grow with a CAGR of over 10% by the next three years.
  • The global user penetration is expected to rise from 50.9% to 64.5% during the forecast period, indicating the rising population of online shoppers.
  • The ease of buying and returning and the option to choose from a wide variety of products to suit their best interests are some of the major factors pushing the shift from store shopping to online shopping.
  • Thus, with the rise in the e-commerce industry, the demand for packaging tape is expected to grow during the forecast period.
Packaging Tapes Market : E-Commerce Retail Sales, Sales Revenue (USD Trillion), Global, 2017-2021

Asia-Pacific Region Set to Lead Globally

  • Asia-Pacific has a major share in the global e-commerce industry, with China being the world's largest e-commerce market. Out of the total retail industry in China, currently, e-commerce has a share of 52%.
  • Currently, the Chinese e-commerce market is estimated to be valued at around USD 1,761 billion and is expected to grow further with a CAGR of over 9% in the next five years.
  • The growing population and the increasing favoritism for online shopping are expected to be the growth engines for the e-commerce market. User penetration is expected to witness a rise from 57.1% to 70.4% during the forecast period.
  • On the other hand, the Indian e-commerce industry is also expected to grow exponentially owing to the increasing online shopping demand and a growing population. Currently, the annual online sales amount to USD 67.5 billion. Similarly, being a developed nation with an urban population and nationwide internet access, the Japanese e-commerce industry is expected to reach USD 43.4 billion over the next two years.
  • Similarly, there is a growing consumption of packaged food and beverages in the region. This can be attributed to the growing middle-class population and people's choices to eat healthy, varied kinds of foods and beverages, among others. With the F&B industry catering to these needs with multiple offerings, the demand for packaging tapes is expected to grow in conjunction with the food & beverage packaging industry.
  • The growing demand for packaging tapes in the e-commerce and food & beverage industry is expected to help the Asia-Pacific packaging tapes market.
Packaging Tapes Market : Revenue CAGR (), by Geography, Global, 2022-2027

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