24 November 2020
Visiongain has launched a new report Labeling Adhesives in Frozen Food Market Report 2020-2030: Forecasts by Type (Vinyl, Elastomers, Polyurethane, Acrylics, Others), by Technology (Water Based Adhesives, Hot Melt Adhesives, Solvent Based Adhesives, Others), by Hot Melt Adhesives Type (Pressure Sensitive Hot-Melt Adhesives, Normal Hot-Melt Adhesives), by Pressure Sensitive Hot-Melt Labeling Adhesives), by Type (EVA-Based Adhesives, SBCs Based Adhesives, Polyolefins, Others), by Temperature (0 Degree Celsius to -10 Degree Celsius, -10 Degree Celsius to -20 Degree Celsius, Lower than -20 Degree Celsius), by Packaging Type (Shrink Film Chipboard, Flexible Bags, Others) PLUS Analysis of Leading Labeling Adhesives Companies AND COVID-19 Recovery Scenarios.
The global labeling adhesives market in frozen food was estimated to be xx kilotons in 2019 and is anticipated to increase to xx kilotons by 2025 and xx kilotons by 2030. In terms of value the market was valued at USD xx million in 2019 and is anticipated to reach USD xx million by 2030.
Water-based adhesives hold the largest share in the labeling adhesives market for frozen food industry, whereas hot-melt adhesives market is anticipated to increase at the highest CAGR during the forecast period. Some of the key advantages of water-based adhesives include high adhesion and heat resistance, efficient in wet bottles and foiling applications and high processing and bonding quality.
Due to the rising environmental concerns, the companies are developing bio-based hot melt adhesives to replace chemical based ones. In order to enhance the sustainability efforts without compromising performance, the companies are developing these bio-based hot melt adhesives. For example, Dow-DuPont Inc., has developed a new hot melt adhesive MOR-AD which offers benefits that covers various applications in the adhesives marketplace including improved water resistance, high flexibility, and good adhesion on a variety of substrates. Hence, it is expected to create ample opportunities for the industry players operating in the market.
COVID-19 has hit the labelling adhesives industry hard. The production and demand has dipped, operations shut and supply have been disrupted. Manufacturers have reduced CAPEX (capital and expenditure) and capacity to 30-40%. Workforce shortages are one of the major cause for the reduction. A decline in production has been evident across the region and North America and Europe are among hardest hit by Corona. The demand for frozen food have declined as customer has been cautious in making new purchases. The COVID-19 impact has been prevalent in 2020 and its impact will be witnessed in the coming years. IN the coming years we have projected four different routes to recovery and the market projections accordingly.
Major driver identified in the market is the rapid industrialization and expansion of packaging industry. The emerging consumption of frozen food among the consumers due to busy lifestyle is one of the important drivers for the growth of the label adhesive market, as increasing consumption is leading packaging industry manufacturers to increase their production capacities, which in turn, is leading to an increase in the consumption of label adhesive. Packaging requirements are becoming increasingly complex, especially in the food & beverages industry, due to product proliferation and rising competition. This will open new avenues for the market as PSAs offer the flexibility to meet these complex requirements. Thus, driving the growth of the labelling adhesives in frozen food market.
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Due to the rising environmental concerns, the companies are developing bio-based hot melt adhesives to replace chemical based ones. In order to enhance the sustainability efforts without compromising performance, the companies are developing these bio-based hot melt adhesives.
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