Self-adhesive labels are labels that have their back surface coated with an adhesive substrate; they do not require any application of glue or moistening. The growth of the self-adhesive labels market is projected to be driven by growth trends of the converting and packaging industries around the world. MarketsandMarkets projects that the self-adhesive labels market size is projected to grow from USD 31.06 billion in 2018 to USD 40.50 billion by 2023, at a CAGR of 5.5%. Factors such as increasing urban population, demand from end-use industries, increasing consumer awareness, and growth of the e-commerce industry have propelled the growth of the global self-adhesive labels market. With the increasing demand for convenience and quality food products, people are opting for packaged food products, where the product information and other details such as nutritional information and manufactured & expiry dates are printed.
Download PDF Brochure to know more: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=96664367
Asia Pacific dominated the regional market and this trend is projected to continue during the forecast period. China contributes a major share of the Asia Pacific market and is also the projected to be the fastest growing country in the region. Industrialization has enhanced urbanization in China through the migration of rural populations to urban areas and the development of towns into cities. As a result of the steady economic growth, Chinese households experienced a continued increase in disposable income, which has contributed to the demand for self-adhesive labels. Moreover, the food & beverage industry in the country further contributes to the demand for self-adhesive labels.
The Middle East & Africa is projected to be the fastest-growing region during the forecast period. The market in this region is in its emerging stage and global players, to improve their presence in this region, have started expanding their businesses, particularly in Africa, due to the availability of cheap labor, low exchange rates, and lenient environmental, health, and safety laws. The geographic proximity of the Middle East & Africa with Asia Pacific and Europe has made this region an emerging destination to set up manufacturing facilities.
The self-adhesive labels market is dominated by players such as Avery Dennison (US), CCL Industries (Canada), Constantia Flexibles Group (Austria), UPM-Kymmene (Finland), Multi-Color Corporation (US), Coveris holdings S.A. (US), Fuji Seal International (Japan), Huhtamaki (Finland), LINTEC (Japan), and Torraspapel Adestor (Spain). These players adopted strategies such as, acquisitions, new product developments, expansions, divestments, investments, agreements, collaborations, joint ventures, and partnerships to expand their presence in the self-adhesive labels market.
Avery Dennison is a global leader in labeling and packaging materials and solutions. Its wide range of products caters to a variety of applications across beverages, durable goods, food products, home & personal care products, pharmaceutical products, and wine & spirits. Its strong global presence, robust R&D capabilities, and adoption of growth strategies such as acquisitions, new product developments, expansions, and collaborations have ensured its prominent position in the market. In September 2017, Avery Dennison expanded its presence in Pune, India by opening an Innovation and Knowledge Centre, with the aim to support its partners, employees, and customers across South Asia Pacific and Sub-Saharan Africa (SAPSSA). This investment to integrate Knowledge Centre and Innovation Centre into a single location will accelerate their product development as well as ability to deliver faster solutions in order to meet customer’s requirements.
CCL Industries is one of the key converters of pressure-sensitive and extruded film materials. The CCL Label segment contributes to a major share of the company’s sales. For instance, it contributed around 59.4% to the overall sales in 2017. Its customer base comprises global consumer product, healthcare, chemical, and durable goods companies. The company adopted acquisitions as it key growth strategy to enhance its product portfolio. For instance, in May 2018, CCL Industries entered into an agreement to acquire Nortec International Ltd. (Israel) for USD 9 million. The acquired company specialized in the manufacturing of marking systems and high-performance labels. The acquisition was aimed at strengthening the company’s presence in Israel.
To speak to our analyst for a discussion on the above findings, click Speak to Analyst
Commenti