Press release
Laminated Labels Market: Competition from Local Players and Fluctuating Raw Material Costs Force Price Wars
The packaging industry has transformed significantly over time, its plays an important role in product marketing and have noteworthy impact on overall product sales. The need for attractive, highly resistive, customer engaging, and durable packaging has led to the introduction of laminated labels in the industry. Many brand owners and manufacturers of consumer goods have adopted laminated labels due to their high receptivity among customers.
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These factors are expected to translate into a healthy incremental opportunity for the global laminated labels in the next few years. Transparency Market Research estimates that the market, which valued at US$20,022.4 mn in 2015, will exhibit a 5.1% CAGR over the period between 2016 and 2024. The market, as a result, is expected to surpass US$ 30,979 mn by 2024.
Food and Beverages Industry to Account for Bulk of Sales
On the basis of end use industry, the global laminated labels market is segmented into food & beverage, pharmaceuticals, home and personal care, consumer durables, retail labels, apparel and textile, industrial lubricants, paints, and gifts. As per TMR analysts, the food and beverages industry is expected to emerge as the most attractive application in the global laminated labels market, accounting for over 35% of the global market. The sector is likely to maintain its dominance by the end of the forecast period.
The segment of home and personal care is also estimated to account for a significant share in the global market’s revenue in 2016. The demand for laminated labels in the industry will expand at a CAGR of 4.9% from 2016 to 2024. The pharmaceuticals segment is expected to gain 50 basis points by 2024 as compared to 2016, and account for over 13% of the market by 2024. The segment of retail labels is expected to lose its share in the global market by 2024.
Global Laminated Labels Market: Snapshot
The packaging industry has transformed significantly over time, its plays an important role in product marketing and have noteworthy impact on overall product sales. The need for attractive, highly resistive, customer engaging, and durable packaging has led to the introduction of laminated labels in the industry. Many brand owners and manufacturers of consumer goods have adopted laminated labels due to their high receptivity among customers.
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These factors are expected to translate into a healthy incremental opportunity for the global laminated labels in the next few years. Transparency Market Research estimates that the market, which valued at US$20,022.4 mn in 2015, will exhibit a 5.1% CAGR over the period between 2016 and 2024. The market, as a result, is expected to surpass US$ 30,979 mn by 2024.
Food and Beverages Industry to Account for Bulk of Sales
On the basis of end use industry, the global laminated labels market is segmented into food & beverage, pharmaceuticals, home and personal care, consumer durables, retail labels, apparel and textile, industrial lubricants, paints, and gifts. As per TMR analysts, the food and beverages industry is expected to emerge as the most attractive application in the global laminated labels market, accounting for over 35% of the global market. The sector is likely to maintain its dominance by the end of the forecast period.
The segment of home and personal care is also estimated to account for a significant share in the global market’s revenue in 2016. The demand for laminated labels in the industry will expand at a CAGR of 4.9% from 2016 to 2024. The pharmaceuticals segment is expected to gain 50 basis points by 2024 as compared to 2016, and account for over 13% of the market by 2024. The segment of retail labels is expected to lose its share in the global market by 2024.
About TMR
TMR is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
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