The self-adhesive labels market is projected to grow through 2018
The self-adhesive labels market is projected to grow from to USD 40.50 billion by 2023, at a CAGR of 5.5%. Increase in urban population, demand for pharmaceutical supplies, and growth of the e-commerce industry are the main drivers of the self-adhesive labels market.
Factors Causing the Self-adhesive Labels Market Growth
Increasing disposable incomes of people in developing countries and changing preferences of manufacturers for cost-efficient and effective labeling, which compel people to rely on modern labeling techniques, are some of the factors driving the self-adhesive labels market growth.
Different Segments Expected to Grow in Next 5 Years
The release liner segment is expected to dominate the market through 2018 and is projected to be the faster-growing type over the next five years. The main factor that led to the growth of release liner labels is that these labels can be easily be cut into any shape. The growth of the release liner segment can be further attributed to its application in food & beverages and consumer durables.
The permanent segment is projected to be the fastest-growing during the forecast period. This growth can be attributed to its long-term durability and resistance on difficult surfaces. The repositionable segment is projected to be the second-fastest growing segment in the self-adhesive labels market during the forecast period. This growth can be attributed to its applications in areas that require a high level of positional accuracy.
The flexography segment is estimated to dominate the market in 2018, and this trend is projected to continue during the forecast period. This dominance can be attributed to the various benefits offered by flexography printing, including printing on a wide variety of both porous and non-porous surfaces, printing of millions of images with one template (owing to the easy plate-making process), printing in continuous patterns, and ensuring durable and safe printing.
The food & beverages application is estimated to dominate the market in 2018 and is projected to be the second-fastest-growing application during the forecast period, in terms of value. This growth can be attributed to the growing demand for packaged and branded products, and consumer awareness about authenticity and other details of the product. Beverage manufacturers are widely using self-adhesive labels on bottles, owing to technological advancements such as injection molding, thermoforming, and extrusion blow molding that offer cost-effective solutions.
Growth of the Asia Pacific Self-adhesive Labels Market
Asia Pacific contributes a major market share in the global self-adhesive labels market. Factors such as rapid urbanization in China and India, along with the growth in disposable income, drive the growth of the Asia Pacific self-adhesive labels market. FDI investments in the organized retail sector have also contributed to the demand for self-adhesive labels in this region. The growing demand for packaged food products and convenience products are also major factors contributing to the growth of the self-adhesive labels market in this region.
The global market for the self-adhesive labels is dominated by players such as Avery Dennison (US), CCL Industries (Canada), Constantia Flexibles Group (Austria), UPM-Kymmene (Finland), Multi-Color Corporation (US), Coveris holdings S.A. (US), Fuji Seal International (Japan), Huhtamaki (Finland), LINTEC (Japan), and Torraspapel Adestor (Spain).
Source: Markets and Markets