The report also observes that superior adhesion offered by permanent self-adhesive labels will keep compelling manufacturers towards their adoption.
New York, NY -- (SBWIRE) -- 10/13/2017 -- According to Persistence Market Research's report, the global market for self-adhesive labels, which is presently valued at nearly US$ 23,000 Mn, shall expand at 5.3% CAGR through 2024. The report also projects that by 2020, nearly 29,000 square meters of self-adhesive labels will be sold across the globe. Affordability of self-adhesive labels over other labels is cited as a key driver for the market's growth. The report also observes that superior adhesion offered by permanent self-adhesive labels will keep compelling manufacturers towards their adoption.
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Global Self-Adhesive Labels Market: Key Report Highlights
In the due course of the forecast period, permanent self-adhesive labels will be observed as top-selling products, procuring more than three-fourth of global revenues
Through 2024, the market will remain split among plastic and paper as base labeling materials, with the former securing 50.6% share of global market value
Food & beverage will remain the largest end-user of self-adhesive labels, global revenues from which are anticipated to register 5.5% CAGR
Collectively, North America and Europe will account for half of global revenues, while Asia-Pacific will be observed as the largest market for self-adhesive labels – garnering revenue share of nearly 40%
Manufacturers across multiple industrial verticals will continue to seek ways in which they can save costs, and adopting effective labeling solutions has become a popular modus to accomplish this objective. During selection of best-suited labeling techniques, self-adhesives labels behold higher competency and advantage. Self-adhesive labels are quality products offered at low cost compared to other types of labels, and are constrained to the limits of label design. Resistance to direct sunlight and icy water boosts the operating efficiency of self-adhesive labels to 15% and higher. Persistence Market Research predicts that self-adhesive labels will remain in great demand in the future, and by the end of 2024, their global sales will net revenues worth US$ 33,940 Mn.
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In addition to this, growing retail sector, particularly in emerging markets, has led to emergence of modern retail formats that sell wide range of product categories in large quantities. The need to differentiate products on shelves has compelled self-adhesive label manufacturers to offer high quality labels that satisfy the packaging and labelling objectives of their clients operating in retail and food markets. The report has profiled self-adhesive label manufacturers that are actively participating in the global market and have a considerable contribution towards its growth. These include, Lintec Corporation, CCL Industries, Symbio, Inc., Avery Dennison Corporation, Thai KK, UPM-Raflatac, PMC Label, and Fuji Seal International, Inc.
Self-Adhesive Labels – Market Opportunities
According to the American Foundation for the Blind, at least 20 million people in the US are suffering from vision loss. Label manufacturers are willing to understand the need to serve this market, and it is now made mandatory to include braille labels on pharmaceutical labels. Production of braille self-adhesive labels will help manufacturers charter into explored market for blind consumers.
Moreover, self-adhesive labels have emerged as an affective substitute for glue applied labels by eliminating the manual requirement for applying glue. Eliminating manual process also adds to overall cost-effectiveness of self-adhesive labels as automatic processes can be implemented for bulk application at faster speeds.
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Persistence Market Research (PMR) is a U.S.-based full-service market intelligence firm specializing in syndicated research, custom research, and consulting services. PMR boasts market research expertise across the Healthcare, Chemicals and Materials, Technology and Media, Energy and Mining, Food and Beverages, Semiconductor and Electronics, Consumer Goods, and Shipping and Transportation industries. The company draws from its multi-disciplinary capabilities and high-pedigree team of analysts to share data that precisely corresponds to clients' business needs.