The globalmarket for pressure sensitive labels presently features and is likely tocontinue to feature an intensely competitive vendor landscape in the nearfuture, with packaging industry specialists expected to account for a largershare in the overall market, states Transparency Market Research in a recentreport. Local companies could gain a larger hold on lucrative regional marketsowing to the ease of production of pressure sensitive labels.
Someof the leading companies in the market are Fuji Seal International, Inc.,Constantia Flexibles Group GmbH, Avery Dennison Corporation, Coveris HoldingsSA, Henkel, CCL Label Inc., UPM-Raflatac, Lintec, Inland Labels, and 3M.
Accordingto the report, the global pressure sensitive labelsmarket willregister a healthy CAGR of 5.2% from 2017 to 2022, rising from a valuation ofUS$86.8 bn in 2017 to a revenue opportunity of US$112 bn by 2022.
APEJEmerges as Most Lucrative Regional Market
Ofthe key face stock materials used for manufacturing pressure sensitive labels,paper is expected to remain the most preferred over the forecast period, withthe use of paper likely to outstrip that of other substitutes such PET,polypropylene, and polyethylene. The comparatively lower costs of paper-basedpressure sensitive labels are expected to help the segment account for nearly41.7% of the overall market by the end of the forecast period, with itsvaluation rising to US$46.6 bn by the end of the forecast period.
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Geographically,the market for pressure sensitive labels in the Asia Pacific (excluding Japan)region is expected to steadily be at the top spot owing to increased demand forthese products from emerging economies across Southeast Asia. Rapidurbanization in several emerging economies is also expected to drive the marketin the region by opening up several new application areas for pressuresensitive labels.
FlourishingFoods and Beverages Industry to Provide Impetus to Market Growth
Steadyexpansion of the food and beverages industry and the retail sector in recentyears has proved to be crucial for the steady growth of the global pressuresensitive labels market and is likely to remain a prominent decisive forcedetermining the future scope of development of the market. The market alsobenefits from the ease of manufacturing pressure sensitive labels at economicalcosts, which has enabled their large scale adoption in the retail industry fordelivering product-related data in an easy manner.
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Therising demand for the large-scale adoption of novel technologies such asbarcode has also amplified the overall global uptake of pressure sensitivelabels in the past few years. This trend has been compounded with the vast risein modern retail channels such as supermarkets and hypermarkets in emergingeconomies in regions such as Asia Pacific and Latin America, ensuring a healthygrowth trajectory for the global pressure sensitive labels market.
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