"Overview of Pressure Sensitive Labels Market"
Demand for Pressure Sensitive Labels Market was valued at US$ 90 Mn in 2018. It is projected to witness a CAGR of 5% during forecast period (2019-2027).
Pressure sensitive labels play a vital role as these are main source of information related to content inside the packaging. Various benefits offered by pressure sensitive labels are water-resistance and its high resistance to other chemicals and water. Moreover, these labels are rapidly adopted in various end use industries such as food & beverage and pharmaceuticals. Rapid adoption in these emerging markets is expected to boost the growth of pressure sensitive labels market.
High demand of eco-friendly labels due to its compatibility with materials is also boosting the growth of the market. Moreover, ban on use of plastic and rising awareness related to environment is boosting the growth of the market. Despite of these advantages, consumer’s concerns over usage of adhesives used in labels are hindering the growth of the market. In addition to this, its high adoption in food and beverage industries for example wine industries are contributing to the growth of the pressure sensitive labels market.
On The Basis Of Material, Paper Based Pressure Sensitive Labels Is Expected To Witness High Demand During Forecast Period (2019-2027)
Paper is expected to remain the most dominant among the preferred materials over forecast period. Various factors such as eco friendly nature, low cost of pressure labels made up of paper are expected to boost the growth of the market segment during forecast period. However, growth for other materials remain passive during the forecast period. Owing to various stringent regulations related to these materials is expected to restrain the market growth during the forecast period.
On The Basis Of Industry, Food And Beverage Is Expected To Witness High Demand During The Forecast Period (2019-2027)
Expansion of the food and beverages industry in recent years has played a vital role in the global pressure sensitive labels market. High demand for advanced technologies such as barcode has boosted the overall uptake of pressure sensitive labels in the past few years. The market is also driven by economical cost of manufacturing of pressure sensitive labels. Moreover, high adoption of these labels in retail sector is expected to witness moderate growth in future years to come. High demand is witnessed in emerging economies such as Asia Pacific and Latin America. This will ensure better growth prospects for the product in future.
Asia Pacific Is The Most Lucrative Region
Asia Pacific region had accounted for a share of xx% in 2018 and is expected to remain dominant during the forecast period. Market for pressure sensitive labels in the Asia Pacific (excluding Japan) region is expected to witness high growth during the forecast period owing to high demand from emerging economies. Rapid urbanization in various nations such as India, China is expected to contribute to the growth of the market. This also opens up new application areas for the usage of pressure sensitive labels.
Market has a vast number of vendors manufacturing technologically advanced pressure sensitive labels. Market is highly competitive as vendors compete on pricing, product differentiation and product portfolio. Vendors are also expanding their footprint by expanding manufacturing units, in developing economies. Mergers and Acqusitions are the key strategies adopted by various vendors. Apart from this, various vendors are also focusing on expansions, agreements, new product development to expand product offerings and meet end user requirements. Vendors will focus on emerging countries such as India, China, Japan that show high potential for innovation in the market. Major players in the labels market include CCL Label Inc., Avery Dennison Corporation, Henkel, Lintec, Constantia Flexibles, Coveris Holdings SA, 3M, Inland Labels, and UPM-Raflatac.
Pressure Sensitive Labels Market Segmentation
Pressure Sensitive Labels Market by Face Stock Material
Pressure Sensitive Labels Market by Application
- Food and Beverage
- Transportation and Logistics
- Personal Care & Home care
- Semiconductor and Electronics
Pressure Sensitive Labels Market by Label Type
Pressure Sensitive Labels Market by Key Regions
- North America
- Latin America
- Asia Pacific
- Middle East and Africa