Increasing disposable incomes of people in developing countries and changing preferences of manufacturers for cost-efficient and effective labeling, which compel people to rely on modern labeling techniques, are some of the factors driving the self-adhesive labels market growth. The growth of this market is propelled by the increase in urban population, demand from end-use industries, rise in consumer awareness, and growth of the e-commerce industry. In 2018, the food & beverages segment is projected to constitute a large share in the self-adhesive labels market; it is projected to grow at the second-highest rate during the forecast period due to growing demand for packaged and branded products, and consumer awareness about authenticity and other details of the product. The pharmaceuticals segment is projected to be the fastest-growing application, in terms of value, from 2018 to 2023. The growth in the pharmaceutical industry is a result of the significant role of self-adhesive labels in enhancing operational efficiency, security, and compliance.
MarketsandMarkets projects that the self-adhesive labels market size to grow from USD 31.06 billion in 2018 to USD 40.50 billion by 2023, at a CAGR of 5.5%.
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On the basis of type, the market for self-adhesive labels is segmented into release liner and linerless labels. The release liner segment is projected to be the faster-growing segment the self-adhesive labels market during the forecast period. The main factor that led to the growth of release liner labels is that these labels can be easily be cut into any shape. The growth of release liner segment can be further attributed to its application in food & beverages and consumer durables.
On the basis of nature, the permanent segment is projected to be the fastest-growing from 2018 to 2023. The growing demand for permanent labels is due to their long-term durability and resistance on difficult surfaces.
The digital printing segment, based on printing technology, is projected to be the fastest-growing in the studied market. This growth can be attributed to the elimination of the printing plate in digital printing, thereby saving time and production expenses.
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The Middle East & Africa is projected to be the fastest-growing region in the self-adhesive labels market. In terms of growth rate, the Middle East was followed by Asia Pacific. The growth in the Middle East is expected to be driven by the availability of cheap labor, low exchange rates, and lenient environmental, health, and safety laws. The geographic proximity of Africa and the Middle East with Asia Pacific and Europe has made this region an emerging destination to set up manufacturing facilities.
Factors such as rapid urbanization in China and India, along with the growth in disposable incomes, drive the growth of the Asia Pacific self-adhesive labels market. FDI investments in the organized retail sector have also contributed to the demand for self-adhesive labels in this region. The growing demand for packaged food products and convenience products are also major factors contributing to the growth of the self-adhesive labels market in this region.
