Matte labels Market Lucrative opportunities By 2024
Matte labels is one of the prominent types of labels, owing to its cost- effectiveness, muted look and most importantly, because of their ability to be written on, after printing.
The subtle or muted look make it different from gloss labels, and also remains attractive to the consumers, who want their labels to have some sort of aesthetic appeal to them. The reason behind muted look of the matted labels is because matte materials absorbs more of the ink, in comparison to the gloss materials, which is a significant advantage of matte labels over gloss labels.
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Furthermore, the ability to write on them after printing with a good enough quality makes them more demanding as shipping and mailing labels, household labels, food packaging labels and many more. Henceforth, preference for matte label is anticipated to continuously rise over the forecast period, thus fuelling more revenues in the global matte labels market.
Global Matte labels Market: Dynamics
Growing demand for digital printing technology coupled with aesthetic visual graphics and robust growth of food & beverage industry are major factors, driving the growth of matte labels market. Increasing focus on sustainable packaging across ever growing presence of large retail chains, are further fuelling growth for matte labels market.
Increasing inclination towards sustainable labelling and sustainable packaging amid increasing focus by big brand owners on carbon footprint and life cycle analysis is another prominent factor fuelling the demand in the matte labels market.
Along with, relatively low cost of labels and growing need for bar codes labelling has drastically changed the overall packaging and labelling industry, also affecting the global matte labels market.
The increasing trend of mergers and acquisitions among chemical industry manufacturers have led to consolidations of the supplier base, which in turn poses a major hindrance to the labelling manufacturers, owing to increased price of raw materials.
Global matte labels market is segmented into five regions namely North America, Latin America, Europe, Asia Pacific and Middle East & Africa. Asia pacific region, is anticipated to witness higher growth rate among all the regions over the forecast period.
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This growth is attributed to the emerging economies like India and China, due to the increasing industrialization and urbanization in these countries. These economies are projected to grow at twice the rate of developed countries and tapping the best opportunities for the matte label market.
Europe is also expected to contribute significantly to the global matte labels market between 2016 and 2024, due to major demand from food & beverage industry. North America is also anticipated to account for a significant market share over the forecast period, due to reviving economy and rising demand from household and cosmetic products.
Latin America and Middle East & Africa are expected to witness sustainable growth over the forecast period. In Latin America, Brazil, Argentina and Mexico are expected to create market opportunities for companies involved in the matte labels market.
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