The market for self-adhesive labels is expected to grow at a CAGR of more than 6% during the forecast period. Rapidly growing E-commerce industry driving the demand of the market studied. However, increasing government regulations likely to hinder the market.
- Asia-pacific dominated the market with a significant share and is estimated to continue its dominance during the forecast period.
- The food and beverage segment dominated the market with more than 50% of the market share.
Key Market Trends
Food and Beverage Segment to Dominate the Market
- Self-adhesive labels are known to improve the aesthetic characteristics of food and beverage packaging brands.
- Packaging and labeling play an important role in the sale of products, as they help in grabbing the attention of the consumers. They are mainly used by marketers, to encourage potential consumers to purchase the product. Labels communicate how to use, transport, recycle, and /or dispose of the package or product.
- In the food and beverage sector, labeling is done to provide ingredient information, product identification, and cautionary notifications.
- The self-adhesive label manufacturers need to take care of the legal requirements put in place, to ensure that the adhesive does not affect the food ingredients.
- Self-adhesive label companies offer labels that can be applied to a variety of substances. The self-adhesive labels market had been experiencing huge demand in the recent years, due to the developing retail sector, with the sale of an extensive range of products.
Asia-Pacific to Dominate the Market
- Asia-Pacific dominated the market and is expected to witness a significant increase, over the forecast period. With growing packaging and healthcare industries in countries like China, India, Japan, and South Korea, the consumption of self-adhesive labels is increasing in the region.
- China has the second-largest packaging industry in the world. The country is expected to witness a consistent growth during the forecast period, owing to the rise of customized packaging, increased demand for packaged consumerist goods, in the food segment, like microwave food, snack foods, and frozen foods, etc.
- Moreover, the country witnessed rapid growth in the fast-moving consumer goods (FMCG) sector in the recent past. The growth of the FMCG market was majorly driven by the increased spending on premium and healthier products by the middle-class consumers in the country.
- Additionally, India has the fifth-largest packaging industry worldwide which is growing at a significant rate. The country’s packaging industry is majorly driven by growing innovation in industries to make their products compact and portable.
- With increasing employment in the country, there is an increase in the use of ready-to-eat. In addition to this, the demand for cosmetic products is also increasing in the country.
- Such aforementioned factors are likely to drive the demand of the market studied during the forecast period.
The market studied is partially consolidated. Some of the key players in the market include 3M, Avery Dennison Corporation, H.B. Fuller Company, and Mondi, among others.
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