LAMINATION ADHESIVES FOR FLEXIBLE PACKAGING MARKET ANALYSIS

Market Challenges And Opportunities

Market Drivers

Surging demand for packaged food across the globe

Growing spending on packaged food across developed as well as developing regions is expected to propel the market growth of Lamination adhesive for flexible packaging. According to the U.S. Department of Agriculture Economic Research Service, in 2021, the consumers, businesses, and government entities based in the U.S. spent US$ 2.120 trillion on food and beverages in grocery stores and other retailers and on away-from-home meals and snacks. Thus, growing spending by the consumers on packaged food is projected to augment the global lamination adhesives for flexible packaging market growth.

Developing markets, such as Brazil, Russia, India, China, and South Africa (BRICS), are projected to experience a surge in Gross Domestic Product (GDP) growth over the forecast period. This is projected to boost the manufacturing industry, which is expected to propel the market growth of Lamination adhesive for flexible packaging.

Market Restraint

Fluctuating raw material prices leading to higher cost of adhesives

The high cost of adhesives due to the fluctuating prices of raw materials used in the manufacturing of lamination adhesives is expected to hinder the lamination adhesives for flexible packaging market growth. This is due to the rise in prices of oil which has affected the production process. Rising concerns over energy consumption as the production of adhesives is an energy-intensive process, and is expected to hamper the market growth. Moreover, the process is time-consuming, which is also expected to restrict the market growth of the global lamination adhesive for flexible packaging market.