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Vegetable Glue Market is Expected to Grow from USD 52.2 Billion in 2021 to USD 72.5 Billion by 2029

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Archives, Global Trade Daily, Market insight

Vegetable Glue Market is Expected to Grow from USD 52.2 Billion in 2021 to USD 72.5 Billion by 2029

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Vegetable Glue Market Size By Type (Powdery and Liquid), By Function (Decoration adhesive, Thickeners, and Others), By End-use (Food industry, Paper & Packaging, Construction, Woodworking, Personal Care, Medical, and Others), Regions, Segmentation, and projection till 2029

The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and Middle East and Africa. These are the key regions where the Vegetable Glue market is operating currently and is predicted to expand in the near future. The manufacturers and suppliers involved in the Vegetable Glue market is present across various countries in the above-mentioned regions.

The report provides detailed understanding of the market segments which have been formed by combining different prospects such as the product, route of administration, facility of use, and others. Apart from this, the key driving factors, restraints, potential growth opportunities and market challenges are also discussed in the below paragraphs.

The significant players operating in the global Vegetable Glue market are AHenkel AG & Company, KGaA, DuPont de Nemours Inc., Arkema, Ashland Global Holdings Inc., Beardow Adams Group, Paramelt BV, Jowat SE, Ingredion Incorporated, EcoSynthetix Inc., Tate & Lyle PLC, among others. To achieve a substantial market share in the worldwide Vegetable Glue market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures.

Vegetable glue is a glue made from vegetable material, especially by treating starch from cassava root. The starch used for making vegetable glue must contain alkali material in it. It is widely used in plywood and veneer products. The starch from corn, wheat, tapioca, etc., is boiled and treated with alkali to produce a clear and viscous liquid which is called vegetable glue. Vegetable glue is a liquid that is stored at room temperature and does not need to be heated while used. As vegetable glue remains soluble in water, even after drying, vegetable glue can be used for wallpaper paste. Vegetable glue is also called starch adhesives. It is widely used for paper products, paper bags (like grocery bags), corrugated boxes, wallpaper paste, tube winding (like a paper-towel roll), labeling, laminating, and envelopes. The increasing demand for vegetable glue from the packaging industry is expected to drive the market’s growth. Furthermore, the market is driven by increasing governmental policies and legislation to reduce environmental pollution and consumer awareness of biodegradable products.

Scope of Vegetable Glue Market Report

Report Metric Information
Study Period 2021-2029
Base Year             2021
Forecast Period 2022-2029
Market Share Unit USD Billion
Segments Covered Type, function, end-user, region
Regions Covered North America, Europe, Asia-Pacific, South America and Middle-East and Africa
Major Players AHenkel AG & Company, KGaA, DuPont de Nemours Inc., Arkema, Ashland Global Holdings Inc., Beardow Adams Group, Paramelt BV, Jowat SE, Ingredion Incorporated, EcoSynthetix Inc., Tate & Lyle PLC, among others

Segmentation Analysis

Powdery segment is expected to be the fastest growing segment in 2021.

The type segment includes powdery and liquid. The powdery segment are expected to witness the highest growth rate during the forecast period. The demand for powdery vegetable glue has been growing owing to its ease of use and storage. Furthermore, the powdery vegetable glue can be used for various applications such as packaging, wood, and home use, propelling the segment’s growth.

The decoration adhesives segment is expected to be the fastest-growing segment in 2021.

The application segment includes decoration adhesives, thickeners, and others The decoration adhesives segment is expected to witness the highest growth rate during the forecast period. Vegetable glue is widely used as decorative adhesive as there is rapid growth in the event management and organization sector. People nowadays prefer heavy decorations for every family function, whether marriages, anniversaries, birthday parties, etc. Vegetable glue can be easily used as decoration adhesive, which propels the segment’s growth.

The Paper & Packaging segment is expected to be the fastest-growing segment in 2021.

The end-user segment includes the food industry, paper & packaging, construction, woodworking, personal care, medical, and others. The paper & packaging segment is expected to witness the highest growth rate during the forecast period. Some of the paper & packaging application includes foil laminates, bags, disposables, labels, cartons, envelopes, and remoistenable products. Vegetable glue based on protein, dextrin, starch, and other green adhesives is widely used for bonding various consumer products, including certain packaging materials for food cartons or packets, envelopes & paper bags, and others propel the segment’s growth.

Regional Analysis                                                         

The regional analysis provides a detailed perception about the key regions and the countries. Some of the key countries analyzed for the Vegetable Glue include US, Canada, Mexico, Germany, France, U.K., Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South Africa and Saudi Arabia.

  • Asia Pacific region witnessed a major share. This is mainly attributed to regional construction companies’ increased adoption of vegetable glue for domestic and industrial use. Furthermore, the rising income levels and easy access to resources for making vegetable glue propel the market’s growth. The automotive & transportation industry is one of the major consumers of vegetable glue in the North American region. Europe is expected to witness a considerable growth rate during the projection period. The growth of vegetable glue in the region can be attributed to the growing demand for vegetable glue from the packaging industry.

Country Analysis

  • Germany

Germany’s Global Vegetable Glue market size was valued at USD 5.6 billion in 2021 and is expected to reach USD 7.5 billion by 2029, at a CAGR of 3.8% from 2022 to 2029.
Germany is one of Europe’s leading shareholders in the Global Vegetable Glue market. The vegetable glue market in Germany has been increasing owing to the tremendous growth in the packaging industry. The number of small-size and premium packaging from the UK’s F&B and personal care sectors increased, which propelled the market’s growth. E-retail businesses are also major end-users of packaging materials. In addition, Europe is looking to make the switch from plastic packaging to paper bags. All these factors are anticipated to raise the demand for vegetable glue in the country.

  • China

China’s Global Vegetable Glue market size was valued at USD 5.1 billion in 2021 and is expected to reach USD 7.8 billion by 2029, at a CAGR of 5.5% from 2022 to 2029. The growing market demand for vegetable glue from the packaging industry, owing to the increasing use of online shopping, propels the market’s growth in the country. Furthermore, vegetable glue is also widely used in the wood and construction industry adding impetus to the market’s growth over the forecast period.

  • India

India’s Global Vegetable Glue market size was valued at USD 5.8 billion in 2021 and is expected to reach USD 9.4 billion by 2029, at a CAGR of 6.3% from 2022 to 2029. India is one of the highest growing economies in the Asia Pacific region, which propel the market’s growth. Furthermore, the region has some prominent vegetable glue manufacturers, which impetus to the market’s growth. There is a rapid increase in online shopping, which increases the need for packaging goods and products for various brands, which increases the need for vegetable glue in the country.
Covid-19 Impact

Covid-19 had a major impact on almost all industries, such as electronics, semiconductors, manufacturing, automobile, etc. However, several companies operating in the technology sector have seen increased revenue due to significant changes in consumer preferences toward technological services. In addition, the pandemic has led to significant growth in technology across developing and developed countries.

Furthermore, the increasing demand for vegetable glue in the packaging industry and woodworking industries is expected to drive the market’s growth.

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Pineapple Price in U.S. Peaks at $622 per Ton

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U.S. Pineapple Import Price per Ton August 2022

In August 2022, the pineapple price per ton stood at $622, flattening at the previous month. In general, the import price recorded a relatively flat trend pattern. The growth pace was the most rapid in April 2022 when the average import price increased by 1.7% month-to-month. Over the period under review, average import prices hit record highs in August 2022.

There were significant differences in the average prices amongst the major supplying countries. In August 2022, the country with the highest price was Mexico ($764 per ton), while the price for Guatemala ($384 per ton) was amongst the lowest.

From January 2022 to August 2022, the most notable rate of growth in terms of prices was attained by Mexico (+2.8%), while the prices for the other major suppliers experienced more modest paces of growth.

U.S. Pineapple Imports

After two months of decline, overseas purchases of pineapples increased by 5.9% to 105K tons in August 2022. The total import volume increased at an average monthly rate of +2.3% from January 2022 to August 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain months. The pace of growth appeared the most rapid in March 2022 with an increase of 29% against the previous month. Imports peaked at 133K tons in May 2022; however, from June 2022 to August 2022, imports failed to regain momentum.

In value terms, pineapple imports rose remarkably to $66M (IndexBox estimates) in August 2022. The total import value increased at an average monthly rate of +2.9% over the period from January 2022 to August 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain months. The pace of growth appeared the most rapid in March 2022 with an increase of 27% month-to-month. Imports peaked at $80M in May 2022; however, from June 2022 to August 2022, imports remained at a lower figure.

U.S. Pineapple Imports by Country

In August 2022, Costa Rica (94K tons) constituted the largest pineapple supplier to the United States, with a 89% share of total imports. Moreover, pineapple imports from Costa Rica exceeded the figures recorded by the second-largest supplier, Guatemala (4.1K tons), more than tenfold. The third position in this ranking was taken by Mexico (3.2K tons), with a 3.1% share.

From January 2022 to August 2022, the average monthly rate of growth in terms of volume from Costa Rica stood at +2.5%. The remaining supplying countries recorded the following average monthly rates of imports growth: Guatemala (+14.7% per month) and Mexico (-6.7% per month).

In value terms, Costa Rica ($56M) constituted the largest supplier of pineapple to the United States, comprising 86% of total imports. The second position in the ranking was taken by Mexico ($2.5M), with a 3.8% share of total imports. It was followed by Guatemala, with a 2.4% share.

From January 2022 to August 2022, the average monthly growth rate of value from Costa Rica totaled +2.8%. The remaining supplying countries recorded the following average monthly rates of imports growth: Mexico (-4.0% per month) and Guatemala (+14.6% per month).

Source: https://www.indexbox.io/blog/pineapple-price-per-ton-august-2022/

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Top 4 Trends Influencing Global Compression Therapy Market

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The compression therapy industry is expected to witness notable growth over the coming years due to the rising incidence of road accidents and sports-related trauma. According to a report by the WHO, around 20-50 million road accident victims suffer non-fatal injuries. However, some of these injuries can cause partial or total disability if left untreated. 

Compression therapy products are useful in such cases. They increase the blood flow in the body by exerting a comfortable yet constant pressure on the injured part. The number of people suffering from chronic venous diseases, such as deep vein thrombosis (DVT) and varicose veins is also increasing. Factors, such as old age, lack of physical activity, and sports injuries are contributing to the rise in these conditions.

The U.S. Centers for Disease Control and Prevention (CDC) says that nearly 900,000 people in the country are affected by DVT every year. These statistics indicate the potential demand for compression therapy devices. 

Global compression therapy market size is anticipated to surpass USD 4 billion by 2030. Discussed below are some of the key trends impacting the industry progress.

  • Compression pumps used as alternative to ineffective treatments:

Compression pumps will capture a sizeable share of global compression therapy industry over the coming years. The products can be used as an alternative to failed treatments for some patients. If elderly patients are either non-compliant or unresponsive to other treatments, then compression pumps can be used to alleviate the painful symptoms. 

The prevalence of conditions, such as DVT and lymphedema is increasing across the world. According to the Australian Commission on Safety and Quality in Healthcare, 30,000 Australian citizens are diagnosed with DVT every year, incurring a cost of around AUD 1.72 billion (USD 1.19 billion) to the country’s healthcare system. Many of these patients can be successfully treated with the help of compression pumps. 

  • Dynamic compression therapy gains traction:

Global dynamic compression therapy industry value is expected to surge considerably in the future. Sports injuries are on the rise as more people are participating in physical activities to improve their fitness levels. As per the statistics from Johns Hopkins Medicine, more than 3.5 million sports injuries take place in the U.S. every year.

Athletes performing in elite competitions, such as the Olympics and World Championships undergo dynamic compression therapy to enhance the performance of their lower extremities. It can also significantly improve their pressure-to-pain threshold during the recovery process.

  • Compression therapy helpful in treating leg ulcers:

Global compression therapy market size from the leg ulcer application will record a healthy growth rate over the forthcoming years. Leg ulcers are becoming increasingly common because of a severe lack of physical activity, which results in poor blood circulation.

According to the NHS, venous leg ulcers affect 1 in 500 people in the U.K. Products like compression stockings can reduce the pain caused by these ulcers as they apply constant pressure on the affected part, thereby improving the flow of blood and other fluids.

  • Europe compression therapy industry expands:

Europe compression therapy industry revenue will exhibit a consistent growth in the future as the region is witnessing a major rise in geriatric population. According to Eurostat, the share of people falling in the age category of 80 years and above was estimated to be 6% in 2021 and will expand significantly over the coming decades.

People aged 65 years and above are at a higher risk of being diagnosed with chronic venous diseases like DVT. Compression therapy is beneficial for these patients as it gives them several treatment options to choose from. The growing demand for non-invasive and painless treatments will fuel the adoption of compression devices.

Global compression therapy market outlook will be influenced by the growing prevalence of chronic venous disorders. Unhealthy lifestyle choices, obesity, and aging are some of the primary factors causing the onset of these ailments. With constant innovations being introduced in these products to improve patient safety and comfort, the awareness and availability of suitable treatment options will also rise. Depending on the applications, both static and dynamic compression therapy use will see considerable boost over the coming years.

Organizations such as Medi Gmbh & Co. KG, DJO Global, Inc., Convatec Inc., BSN Medical, 3M Company, Cardinal Health, Inc., Sigvaris, and Paul Hartmann AG, among others, are the leading developers of compression therapy products. These include compression garments, pumps, braces, and tapes that use static and dynamic compression technologies to enhance blood circulation and prevent the coagulation of vital fluids.