Some of the leading companies in the market are Fuji Seal International, Inc., Constantia Flexibles Group GmbH, Avery Dennison Corporation, Coveris Holdings SA, Henkel, CCL Label Inc., UPM-Raflatac, Lintec, Inland Labels, and 3M.
According to the report, the global pressure 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 revenue opportunity of US$112 bn by 2022.
APEJ Emerges as Most Lucrative Regional Market
Of the key face stock materials used for manufacturing pressure sensitive labels, paper is expected to remain the most preferred over the forecast period, with the use of paper likely to outstrip that of other substitutes such PET, polypropylene, and polyethylene. The comparatively lower costs of paper-based pressure sensitive labels are expected to help the segment account for nearly 41.7% of the overall market by the end of the forecast period, with its valuation rising to US$46.6 bn by the end of the forecast period.
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 for these products from emerging economies across Southeast Asia. Rapid urbanization in several emerging economies is also expected to drive the market in the region by opening up several new application areas for pressure sensitive labels.
Flourishing Foods and Beverages Industry to Provide Impetus to Market Growth
Steady expansion of the food and beverages industry and the retail sector in recent years has proved to be crucial for the steady growth of the global pressure sensitive labels market and is likely to remain a prominent decisive force determining the future scope of development of the market. The market also benefits from the ease of manufacturing pressure sensitive labels at economical costs, which has enabled their large scale adoption in the retail industry for delivering product-related data in an easy manner.
The rising demand for the large-scale adoption of novel technologies such as barcode has also amplified the overall global uptake of pressure sensitive labels in the past few years. This trend has been compounded with the vast rise in modern retail channels such as supermarkets and hypermarkets in emerging economies in regions such as Asia Pacific and Latin America, ensuring a healthy growth trajectory for the global pressure sensitive labels market.
Geographically, the global pressure sensitive labels market is likely to be dominated by demand from emerging economies in Southeast Asia. Countries such as China, India, South Korea, Malaysia, Indonesia, and Taiwan, where urban development is being carried out at a rapid rate and the local economy is subsequently expanding at robust rates, the pressure sensitive labels industry is likely to be boosted by the growing demand for transportation options.
The growing retail sector in these countries, thanks to the rising disposable income of consumers in this region, is also likely to lead to a rise in the demand from the pressure sensitive labels market in Asia Pacific except Japan. APEJ accounted for 33.5% of the global pressure sensitive labels market in 2017 and is likely to consistently remain a leading contributor over the 2017-2022 forecast period.
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Major players in the global pressure sensitive labels market include Avery Dennison Corporation, Henkel, CCL Label Inc., Lintec, Constantia Flexibles Group GmbH, Coveris Holdings SA, 3M, Inland Labels, Fuji Seal International, Inc., and UPM-Raflatac.