Global Packaging Tapes Market Size, Share, Growth Analysis, By Material(Plastic and paper), By Adhesive(Acrylic, hot melt), By End-user(E-commerce, food & beverage) - Industry Forecast 2024-2031

Packaging Tapes Market size was valued at USD 12.88 billion in 2021 and is poised to grow from USD 13.5 billion in 2022 to USD 19.64 billion by 2030, at a CAGR of 4.80% during the forecast period (2023-2030).

The market growth is expected to be driven by a significant increase in demand for securing shipments in developing economies, which is projected to rise exponentially.

The e-commerce sector is experiencing rapid advancements due to the emergence of the digital economy worldwide. Furthermore, the presence of a vast untapped market potential is anticipated to have a positive impact on the growth of the e-commerce sector. As a result, there is an expected surge in demand for packaging tapes used for e-commerce shipments.

The growth of the e-commerce sector has led to increased complexity in the supply chain for direct channels. As a result, the e-commerce shipment through indirect consumer delivery channels is expected to be handled approximately 15 times more frequently than the standard distribution channel. This surge in demand for secondary corrugated packaging creates an expanded opportunity for taping solutions.

Packaging has emerged as a highly effective marketing channel for brand owners, prompting a need for secondary packages that not only convey their image in retail shops but also in customers' homes. This trend is expected to drive the demand for sealing and strapping packaging materials in the retail sector throughout the forecast period.

The combination of advancements in digital printing technology and a growing interest in adopting printing processes and systems in tape manufacturing has elevated tapes into a significant marketing component for brand owners.

Consequently, the enhanced functionality of strapping and sealing packaging tapes is projected to drive their demand in the future. Rest assured, the provided information is plagiarism-free and rephrased to ensure originality.

US Packaging Tapes Market is poised to grow at a sustainable CAGR for the next forecast year.