The global self-adhesive labels market sizeis expected to reach USD 71.24 billion by 2027, exhibiting a CAGR of 6.3%during the forecast period. The growing consumer awareness about productingredients coupled with heavy demand are factors expected to bolster thegrowth of the market, states Fortune Business Insights, in a report, titled “Self-AdhesiveLabels Market Size, Share & COVID-19 Impact Analysis, By Type (Linerless,Release Liner), By Label Type (Permanent, Removable), By Application (Food& Beverages, Pharmaceutical, Household & Personal Care, Consumer Goods,Others), and Regional Forecast, 2020-2027.” The market size stoodat USD 43.62 billion in 2019.
The whole world is battling with the novel coronavirus, leavingnumerous industries distraught. The authorities of several countries haveinitiated lockdown to prevent the spread of this deadly virus. Such plans havecaused disturbances in the production and supply chain. But, with time andresolution, we will be able to combat this stern time and get back tonormality. Our well-revised reports will help companies to receive in-depthinformation about the present scenario of every market so that you can adoptthe necessary strategies accordingly.
Latest Driver:
Surging Consumer Goods Industry to Augment Growth
The growing utilization of labels in food & beverages,pharmaceutical, medical, and consumer goods industries will have a tremendousimpact on the global market during the forecast period. Self-adhesive labelsare generally used to describe the contents, manufacturing date, expiry date,and other important information of the product. Furthermore, the growing demandfor packaged food, clothing, electronics, consumer durables, and non-durablegoods will foster the healthy growth of the market for Self-adhesive labels.The growing population coupled with inflated consumer demand will subsequentlyenable speed expansion of the market. The booming FMCG industry owing toincreasing per-capita disposable income will bolster the growth of the marketin the forthcoming years.
Disturbed Supply Chain to Dampen Market Growth
The global Self-adhesive labels market has observed a massiveinterruption in business due to the COVID-19 pandemic. The disrupted supplychain has severely affected the sales and production of labels amid COVID-19.The stringent policies imposed by the government to control the spread of thevirus will negatively impact the global market. However, the demand for labeltechnology in the medical and food industry will uplift the business. Inaddition, the constant efforts for the smooth supply of pharmaceutical and foodproducts will spur opportunities for the market during the forecast period.
Regional Analysis:
Flourishing Cosmetic Industry to Stimulate Growth in Europe
The market in Europe is expected to hold the largest share in theglobal market owing to the growing awareness among consumers in countries suchas 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, the thriving packaging, consumer goods, pharmaceutical, electronics,food, and beverage sectors will fuel demand for labeling owing to itstime-saving, convenient, and inexpensive option, which, in turn, will aid theexpansion of the market in the region. The market in North America is likely toexpand rapidly during the forecast period. The increasing commerce sector inthe U.S can spur demand for labelling, which in turn, will promote the growth ofthe market in the region.
Key Development:
August 2020: Xeikon announced astrategic partnership with EFI Jetrion. Under this partnership, Xeikon willsupply, support, and service the global Jetrion customer base, and continue thedirect sales of Jetrion digital label printing systems as a part of the Xeikon portfolioof UV inkjet presses and digital dry toner for the self-adhesive label market.
Browse Detailed Summary of Research Report with TOC:
https://www.fortunebusinessinsights.com/self-adhesive-labels-market-104289
