The global self-adhesive labels market is anticipated to increase at single-digit impressive CAGR to reach almost US$ 23,000 Mn by the end of 2024. It is also projected that about 29,000 sq. meters of self-adhesive labels are likely to be sold over the world by the end of 2020. Affordable price of self-adhesive labels compared to other labels is the key driving factor for growth of the market. The report further states that superior adhesive power offered by the self-adhesive labels is likely to keep enthralling manufactures towards its adoption.
Competitive Landscape
Moreover, increasing retail sector, especially in emerging markets for self-adhesive has resulted into emergence of modern retail formats that sell wide range of product categories in large quantities. The requirement of differentiating the packages on the shell have compelled label manufacturers to manufacture best quality labels. This will allow the manufacturers to fulfill two aspects – their client’s requirements, anda labelling and packaging objectives in food and retail industry. The report also highlights active participation of leading manufacturers in the growth of the market. Some of them are profiled in the report such as :
- Lintec Corporation
- Avery Dennison Corporation
- Thai KK
- UPM-Raflatac
- PMC LABEL
- Fuji Seal International, Inc.
- CCL Industries
- Symbio, Inc.
- Others
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Market Dynamics
According to the statistics provided by American Foundation for the Blind, approximately 20 Mn citizen in the US are blind. Manufacturers need to understand requirements of the market and should do active production accordingly. Government have now made it mandatory for the manufacturers to include braille labels on medical and pharmaceutical labels. Manufacturing of braille labels is likely to help manufacturers charter into wide market for blind people.
Additionally, self-adhesive labels are emerging as an alternative to glue applied labels by reducing efforts to manually apply glue to each label. Additionally, eliminating manual process helps to reduce cost and Self-adhesive labels being automatic process are likely to be implemented for bulk application at higher pace.
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Additional Highlights
- Permanent self-adhesive labels are likely to be observed as the top selling labels compared to other type of labels, securing over three-fourth revenue share of the market over the forecast period.
- The market for self-adhesive labels is likely to be remain split among paper and plastic, being base materials, securing more than half market value throughout the forecast period.
- On the basis of end-user, food & beverage is likely to remain the largest end-user of the self-adhesive labels market, in terms of revenues and is estimated to witness expansion at single-digit CAGR throughout the assessment period.
- Both Europe and North America will collectively procure half revenue share of the overall market over the assessment period, while Asia-Pacific is expected to remain the largest region for the self-adhesive labels market, garnering two-third revenue share of the global self-adhesive labels market through 2024