Theglobal self-adhesivelabels market size is expected to reach USD 71.24 billion by 2027,exhibiting a CAGR of 6.3% during the forecast period. The growing consumerawareness about product ingredients coupled with heavy demand are factorsexpected to bolster the growth of the market, states Fortune Business Insights,in a report, titled “Self-AdhesiveLabels Market Size, Share & COVID-19 Impact Analysis, By Type (Linerless, ReleaseLiner), By Label Type (Permanent, Removable), By Application (Food &Beverages, Pharmaceutical, Household & Personal Care, Consumer Goods,Others), and Regional Forecast, 2020-2027.” The marketsize stood at USD 43.62 billion in 2019.
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Latest Driver:
Surging Consumer Goods Industry to Augment Growth
Thegrowing utilization of labels in food & beverages, pharmaceutical, medical,and consumer goods industries will have a tremendous impact on the globalmarket during the forecast period. Self-adhesive labels are generally used todescribe the contents, manufacturing date, expiry date, and other importantinformation of the product. Furthermore, the growing demand for packaged food,clothing, electronics, consumer durables, and non-durable goods will foster thehealthy growth of the market for Self-adhesive labels. The growing populationcoupled with inflated consumer demand will subsequently enable speed expansionof the market. The booming FMCG industry owing to increasing per-capitadisposable income will bolster the growth of the market in the forthcomingyears.
Disturbed Supply Chain to Dampen Market Growth
Theglobal Self-adhesive labels market has observed a massive interruption inbusiness due to the COVID-19 pandemic. The disrupted supply chain has severelyaffected the sales and production of labels amid COVID-19. The stringentpolicies imposed by the government to control the spread of the virus willnegatively impact the global market. However, the demand for label technologyin the medical and food industry will uplift the business. In addition, theconstant efforts for the smooth supply of pharmaceutical and food products willspur opportunities for the market during the forecast period.
Regional Analysis:
Flourishing Cosmetic Industry to Stimulate Growth in Europe
Themarket in Europe is expected to hold the largest share in the global marketowing to the growing awareness among consumers in countries such as Germany,the UK, France, and others. The significant demand for consumables, cosmetics,personal care products, including electrical appliances, electronics, tools,packages will boost the growth of the market in the region. Moreover, thethriving packaging, consumer goods, pharmaceutical, electronics, food, andbeverage sectors will fuel demand for labeling owing to its time-saving,convenient, and inexpensive option, which, in turn, will aid the expansion ofthe market in the region. The market in North America is likely to expandrapidly during the forecast period. The increasing commerce sector in the U.Scan spur demand for labelling, which in turn, will promote the growth of themarket in the region.
Browse Detailed Summary of Research Report with TOC:
https://www.fortunebusinessinsights.com/self-adhesive-labels-market-104289
