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.
Some of theleading companies in the market are Fuji Seal International, Inc., ConstantiaFlexibles Group GmbH, Avery Dennison Corporation, Coveris Holdings SA, Henkel,CCL Label Inc., UPM-Raflatac, Lintec, Inland Labels, and 3M.
Accordingto the report, the globalpressure sensitive labels market will register a healthy CAGR of 5.2%from 2017 to 2022, rising from a valuation of US$86.8 bn in 2017 to a revenueopportunity of US$112 bn by 2022.
APEJ Emerges as Most LucrativeRegional Market
Of the keyface stock materials used for manufacturing pressure sensitive labels, paper isexpected to remain the most preferred over the forecast period, with the use ofpaper likely to outstrip that of other substitutes such PET, polypropylene, andpolyethylene. The comparatively lower costs of paper-based pressure sensitivelabels are expected to help the segment account for nearly 41.7% of the overallmarket by the end of the forecast period, with its valuation rising to US$46.6bn 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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The risingdemand for the large-scale adoption of novel technologies such as barcode hasalso amplified the overall global uptake of pressure sensitive labels in thepast few years. This trend has been compounded with the vast rise in modernretail channels such as supermarkets and hypermarkets in emerging economies inregions such as Asia Pacific and Latin America, ensuring a healthy growthtrajectory for the global pressure sensitive labels market.
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