Packaging Tapes Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
The global packaging tapes market is estimated to register a CAGR of over 6% during the forecast period.
The COVID-19 pandemic had a mixed impact on the entire packaging industry. Although demand for luxury, industrial, fashion, and B2B-transport packaging dipped during the pandemic, there was considerable growth in the packaging demand for items like groceries, healthcare and pharmaceutical products, and e-commerce transportation. With commercial activity slowly resuming back to the pre-COVID-19 levels, the demand for packaging tapes is expected to rise further.
The rising global e-commerce business is expected to be a crucial driving factor behind the rising demand for packaging tapes. Considerable growth in the packaged food & beverages segment in the aftermath of COVID-19 is also expected to create additional demand. However, the rising speculation regarding the environmental effects of packaging tapes and the rising environmental regulations are expected to hinder the growth of the market. Increasing research and development of sustainable packaging tapes is expected to serve as a potential opportunity to tap into in the future. The Asia-Pacific region is expected to dominate the global demand for packaging tapes, owing to its rising population and booming e-commerce industry.
Key Market TrendsBooming E-Commerce IndustryThe packaging tapes market is consolidated in nature with a few major players being Tesa SE - A Beiersdorf Company, PPM Industries SpA, Bemis Associates Inc., 3M, Avery Dennison Corporation, Berry Global Inc., Nitto Denko, and others.
Additional Benefits:Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook