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Global Self-Adhesive Labels Market to Exceed US$ 34 Bn with CAGR OF 5.3% Forecast to 2024
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According to Persistence Market Research’s report, the global market for self-adhesive labels, which is presently valued at nearly US$ 23,000 Mn, shall expand at 5.3% CAGR through 2024. The report also projects that by 2020, nearly 29,000 square meters of self-adhesive labels will be sold across the globe. Affordability of self-adhesive labels over other labels is cited as a key driver for the market’s growth. The report also observes that superior adhesion offered by permanent self-adhesive labels will keep compelling manufacturers towards their adoption.
In addition to this, growing retail sector, particularly in emerging markets, has led to emergence of modern retail formats that sell wide range of product categories in large quantities. The need to differentiate products on shelves has compelled self-adhesive label manufacturers to offer high quality labels that satisfy the packaging and labelling objectives of their clients operating in retail and food markets. The report has profiled self-adhesive label manufacturers that are actively participating in the global market and have a considerable contribution towards its growth. These include, Lintec Corporation, CCL Industries, Symbio, Inc., Avery Dennison Corporation, Thai KK, UPM-Raflatac, PMC Label, and Fuji Seal International, Inc.
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Self-Adhesive Labels – Market Opportunities
According to the American Foundation for the Blind, at least 20 million people in the US are suffering from vision loss. Label manufacturers are willing to understand the need to serve this market, and it is now made mandatory to include braille labels on pharmaceutical labels. Production of braille self-adhesive labels will help manufacturers charter into explored market for blind consumers.
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Moreover, self-adhesive labels have emerged as an affective substitute for glue applied labels by eliminating the manual requirement for applying glue. Eliminating manual process also adds to overall cost-effectiveness of self-adhesive labels as automatic processes can be implemented for bulk application at faster speeds.
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