Water-based adhesive compositions are improved by the incorporation of hollow polymeric microspheres having outer surfaces coated with one or more barrier materials such as calcium carbonate particles. The adhesive compositions exhibit enhanced rheology, sprayability, drying time, tack and storage stability as compared to analogous adhesives that are not modified with coated hollow polymeric microspheres. Such compositions are useful as both contact adhesives as well as wet bonding one-way adhesives.