Laminated Labels Market to reach US$30.97 bn by the end of 2024

The global laminated labels market comprises a highly fragmented competitive landscape, according to Transparency Market Research, with the five leading players collectively taking up only 13% of the overall market in 2015.

None of the leaders held over 5% of the market for that year, as revealed in TMR’s recent research publication. Hub Labels, Inc., Constantia Flexibles Group GmbH, CCL Label, Inc., and Avery Denison – the leaders of the global laminated labels market for 2015 – competed with regional and local players amid intense price wars.

The bigger players in the global laminated labels market have so far taken up mergers and acquisitions as a popular growth strategy, focusing on smaller regional players that have held a significant hold over their base region.

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One such example shown in the TMR report is the April 2016 acquisition of the European company Mactac by Avery Dennison. Similar to other top players in the market, Avery Dennison is likely to consolidate its position in high value segments such as specialty labels, graphics, and industrial labels.

As per the report, the global laminated labels market is expected to reach US$30.97 bn by the end of 2024. The market was valued at US$20.02 bn at the end of 2015 and is expected to expand at a CAGR of 5.1% within a forecast period from 2016 to 2024.

Food and Beverages Continues Dominating Laminated Label Demand
The food and beverages industry is likely to continue being the top end user for the global laminated labels market for the given forecast period.

The demand for convenience foods and processed foods is skyrocketing, and the global laminated labels market is reaping wide scale benefits from this. From a regional perspective, Asia Pacific took up the bulk of the demand volume in the global laminated labels market in 2015, and is very likely to continue leading the market for the coming years.

Laminated Label Demand Ramps up in eCommerce Industry
“The scope of the ecommerce industry has been increasing at a phenomenal pace over the past few years, and the surge in online retailing is significantly enhancing the demand for laminated labels.

The market is also propelled by the rise in demand for consumer durables, fresh and processed food and beverages, enhanced logistics, and pharmaceuticals. Growing disposable incomes among consumers have also propelled the demand for high-quality food products and a variety of convenient packaged goods,” states a TMR analyst.

All the product data and other details required, including manufacturing and expiration dates, and nutritional information are printed on these labels, thereby driving the increased demand for them among an increasingly aware and health conscious urban consumer pool.

Packaging and labelling of products is swiftly becoming a highly important aspect of improving overall product aesthetics and increasing brand value and goodwill.

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Good packaging has shown to enhance the sustainability of a business and is also compelling brand owners to invest more in improving product aesthetics and easier product differentiation. This is expected to further fuel the global demand for laminated labels.

Raw Material Prices to Increase, Inhibiting Market Growth
The global laminated labels market is expected to be restrained by a key factor: with polymers being the top raw materials needed for these labels, the volatility of availability of petroleum and petroleum byproducts is affecting the overall demand of polymers for manufacturing labels.

This unpredictability in the availability of raw materials is creating spikes in the global laminated labels market, thereby restricting their overall uptake. The rising focus on the implementation of stringent environmental regulations, and declining profit margins of laminated label manufacturers are other core factors restricting the market.

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This release was published on openPR.