New York, NY -- (SBWIRE) -- 11/15/2017 -- The global pressure sensitive labels market has been a key beneficiary of the steady growth of the retail sector and the food and beverage industry in recent years and is likely to remain a key part of the economic repercussions of the development of these and other industries in the coming years. Pressure sensitive labels are applied on products to facilitate easy identification as well as to deliver branding information to customers and thus enhance consumer outreach. Increasing brand visibility has become a key task for pressure sensitive labels, making the pressure sensitive labels market a key contributor to the global dynamics of several sectors.
According to Transparency Market Research, the global pressure sensitive labels market was valued at US$86.8 bn in 2017. Exhibiting a solid 5.2% CAGR, the global pressure sensitive labels market is expected to rise to a valuation of more than US$112 bn over the 2017-2022 forecast period.
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Here are the key insights into the global pressure sensitive labels market:
Growth of the retail sector has been vital for the pressure sensitive labels market. The ease of producing pressure sensitive labels at cheap rates has enabled widespread adoption in the retail sector, where pressure sensitive labels are highly useful due to the ease with which they can deliver product-related information. The need for widespread adoption of technologies such as barcode recognition has also helped the demand for pressure sensitive labels, as barcodes can be easily integrated into pressure sensitive labels and thus applied to the necessary products without requiring extra labor or expenditure. The rising demand for modern retail shopping channels such as hypermarkets in developing countries in Asia Pacific is thus likely to be a key driver for the global pressure sensitive labels market in the coming years.
Paper is likely to remain the preferred base material in the pressure sensitive labels industry, with the demand for paper expected to outstrip other more advanced alternatives such polyethylene, PET, and polypropylene. The higher costs of producing pressure sensitive labels out of plastics such as polyethylene and polypropylene are likely to drive the demand for paper in the global pressure sensitive labels market, with the paper segment likely to account for 41.7% of the global pressure sensitive labels market. The valuation of the paper pressure sensitive labels market is expected to rise from US$37 bn to US$46.6 bn over the 2017-2022 forecast period, making it crucial for pressure sensitive labels market players.
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Geographically, the rising demand from emerging countries in Southeast Asia is likely to enable steady dominance of Asia Pacific except Japan in the global pressure sensitive labels market over the coming years. Rapid urbanization in countries such as India, Indonesia, China, Malaysia, Thailand, and Taiwan has driven the demand for several leading end users of pressure sensitive labels, and is likely to remain a major driver for the global pressure sensitive labels market in the coming years. The Middle East and Africa could also emerge as key contributors to the global pressure sensitive labels market due to promising prospects in the relatively underdeveloped region. The MEA market for pressure sensitive labels is expected to exhibit a steady 4.1% CAGR in the 2017-2022 forecast period to reach a valuation of US$7.1 bn by 2022.
The global pressure sensitive labels market is likely to remain intensely competitive in the coming years, with packaging industry specialists likely to dominate. Local players could also open up significant claims in the global pressure sensitive labels market due to the ease of producing pressure sensitive labels. Leading companies in the global pressure sensitive labels market include Avery Dennison Corporation, Henkel, CCL Label Inc., Lintec, Constantia Flexibles Group GmbH, Coveris Holdings SA, 3M, Inland Labels, Fuji Seal International, Inc., and UPM-Raflatac.