The global pressure sensitive labels market is likely to grow at a steady CAGR through 2022, and surpass US$ 100 billion in revenues. Steady adoption in the retail and food & beverage industry are likely to be the key growth factors for the global pressure sensitive labels market. These insights are according to a latest research report added to the repository of Market Research Reports Search Engine (MRRSE). The report titled “Pressure Sensitive Labels Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2022” offers comprehensive insights and analysis on the global pressure sensitive labels market for the period 2017-2022.
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Growth of the retail sector has been instrumental in driving the demand for pressure sensitive labels. These labels are widely used in the retail sector for easy identification of products. Retail companies have realized significant reduction in expenses and time due to the adoption of pressure sensitive labels. Widespread adoption of barcode recognition technology has also helped in boosting the adoption of pressure sensitive labels globally. The trend is more pronounced in the hypermarkets and supermarkets of Asia Pacific, as a number of new shopping centers are being constructed there.
Paper remains the preferred material among manufacturers for producing pressure sensitive labels. The high cost involved in manufacturing pressure sensitive labels from polyethylene, and polypropylene is leading to an increasing preference for paper. According to the report, paper accounts for nearly half the revenue share in the global market.
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Globally, the demand for pressure sensitive labels will continue to be driven by growth of the retail sector in developing countries. Many developing countries are witnessing robust infrastructure activity, which is likely to boost the growth of pressure sensitive labels market during the forecast period. In addition to China and India, steady demand for Southeast Asian countries is also likely to offer growth opportunities to manufacturers during the forecast period. Rapid urbanization and increase in consumer spending are the other key factors that are likely to provide an impetus to demand during the forecast period.
Some of the leading players profiled in the report include Henkel, Lintec, CCL Label Inc., Avery Dennison Corporation, Inland Labels, Constantia Flexibles Group GmbH, Coveris Holdings SA, Fuji Seal International, Inc., 3M, and UPM-Raflatac. Manufacturers are focusing on increasing their footprint in developing markets considering the availability of ample number of opportunities. As demand for affordable pressure sensitive labels grows, it is highly likely that companies will focus on increasing mass production to offer cost advantage to consumers.
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