Rigid Packaging Adhesives Market to Reach $18 Billion
The market is expected to reach $18.2 billion by 2021 driven by an overall compound annual growth rate (CAGR) of 4.3%.
The global market for rigid packaging adhesives was estimated to be worth $14.7 billion in 2016, according to a new report from Smithers Apex. 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.
Growth within the global packaging adhesives market is reportedly being fueled 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.