Labels set to grow by 30% over 5 years
The self-adhesive label market will see a CAGR of 5.4 per cent between now and 2026, translating into a market that will be 30 per cent bigger in five years’ time, with the Asia Pacific region seeing the biggest growth of all.
over next five years
That at least is the conclusion from research agency MarketsandMarkets, which says the current US$48bn market will grow to US$62.3bn in five years.
It says the self-adhesive labels market is expected to witness high growth because of increase rapid urbanisation, demand for pharmaceutical supplies, increasing consumer awareness, and growth of the e-commerce industry.
And it says with the increasing demand for convenience and quality food products, people are opting for packaged food products, where the product information and other details such as nutritional values of the product and manufactured and expiry dates need to be printed. MarketsandMarkets says “this is an opportunity for self-adhesive label manufacturers.”
In terms of value, the permanent segment is estimated to be the fastest-growing segment in the self-adhesive labels market.
In terms of value, the release liner segment is estimated to lead the self-adhesive labels market. The market for linerless labels is projected to grow at a steady rate, as is the market for release liner labels. This is because linerless labels are preferred from an environmental point of view, as their production generates less wastage and requires less paper consumption.
The APAC region is projected to be the fastest-growing region in the self-adhesive labels market during the forecast period.
The APAC region is projected to be the fastest-growing region in the self-adhesive labels market in terms of both value and volume from 2021 to 2026. This region is witnessing the highest growth rate due to the rapid economic expansion. The usage of self-adhesive labels in the region has increased due to cost effectiveness, easy availability of raw materials, and demand for product labeling from highly populated countries such as India and China. The increasing scope of applications of self-adhesive labels in the food and beverage, healthcare, and personal care industries in the region is expected to drive the self-adhesive labels market in APAC. The growing population in these countries presents a huge customer base for FMCG products and food and beverages. Industrialisation, growing middle-class population, rising disposable income, changing lifestyles, and rising consumption of packed products are expected to drive the demand for self-adhesive labels during the forecast period.
The report cites CCL Industries, Avery Dennison Corporation, Multi-Color Corporation, Coveris Holdings, Huhtamaki OYJ, and Fuji Seal International, amongst others, as the key players operating in the self-adhesive labels market. It says expansions and acquisitions will offer “lucrative opportunities.”
The report is titled, "Self-Adhesive Labels Market by Composition (Facestock, Adhesive, Release Liner), Type (Release Liner, Linerless), Nature (Permanent, Repositionable, Removable), Printing Technology, Application, and Region - Global Forecast to 2026". Click here to access it.