Asia Pacific except Japan Set to Dominate Global Pressure Sensitive Labels Market
The
global pressure sensitive labels market has made rapid progress in
recent years thanks to the growth of the global retail sector and the
food and beverage industry, which have become dominant consumers for
the pressure sensitive labels market. Pressure sensitive labels, also
called adhesive-backed labels, are used in a wide variety of
applications due to their ease of use and the ease they provide in
incorporating other technologies such as barcodes into their design,
which makes them easy to incorporate into the day-to-day functioning
of industries. The ease of incorporating branding material in the
design of pressure sensitive labels has also driven their adoption in
various sectors and is likely to remain a key driver for the global
market in the coming years.
The
global pressure sensitive labels market was valued at US$86.8 bn in
2017. According to Transparency Market Research, the global pressure
sensitive labels market is likely to exhibit a 5.2% CAGR over the
2017-2022 forecast period and emerge with a valuation of US$112 bn by
2022.
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Growth
of Logistics, Transportation Sector Crucial for Pressure Sensitive
Labels Market
One
of the major drivers for the global pressure sensitive labels market
is the steady growth of the logistics sector in recent years, as well
as the rapid subsequent growth of the transportation industry.
Logistics has become vital due to the growing adoption of
long-distance shipping chains and the need to multiply sales outlets.
The pressure sensitive labels market has gained significantly from
this trend due to the ease of applying pressure sensitive labels and
garner consumer interest. The ease of delivering product information
in an attractive format is likely to drive demand for pressure
sensitive labels from the logistics and transportation sector in the
coming years.
Food
and Beverage Industry Likely to Dominate Demand from Pressure
Sensitive Labels Market
Growth
of the food and beverage industry is likely to be vital for the
pressure sensitive labels market. The growing use of food packaging
technology in order to facilitate long-distance shipping has made
pressure sensitive labels absolutely vital to the food and beverage
sector, as they provide the means to incorporate product information,
regulatory information, as well as identification data such as
barcodes on packaged food.
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Paper
Likely to Remain Preferred Base Material in Pressure Sensitive Labels
Market
Of the various materials used
to produce pressure sensitive labels, paper is likely to remain in
demand over the coming years due to the convenience of printing paper
sheets in various designs. Paper accounted for 42.7% of the global
pressure sensitive labels market in 2017, with the segment valued at
more than US$37 bn. According to Transparency Market Research, the
paper pressure sensitive labels market is likely to exhibit a strong
4.7% CAGR in the 2017-2022 forecast period to rise to a valuation of
US$46.6 bn.
Geographically, the global
pressure sensitive labels market is likely to be dominated by demand
from emerging economies in Southeast Asia. Countries such as China,
India, South Korea, Malaysia, Indonesia, and Taiwan, where urban
development is being carried out at a rapid rate and the local
economy is subsequently expanding at robust rates, the pressure
sensitive labels industry is likely to be boosted by the growing
demand for transportation options. The growing retail sector in these
countries, thanks to the rising disposable income of consumers in
this region, is also likely to lead to a rise in the demand from the
pressure sensitive labels market in Asia Pacific except Japan. APEJ
accounted for 33.5% of the global pressure sensitive labels market in
2017 and is likely to consistently remain a leading contributor over
the 2017-2022 forecast period.
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Competitive
Dynamics
Major
players in the global pressure sensitive labels market include Avery
Dennison Corporation, Henkel, CCL Label Inc., Lintec, Constantia
Flexibles Group GmbH, Coveris Holdings SA, 3M, Inland Labels, Fuji
Seal International, Inc., and UPM-Raflatac.
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