(Entertainment-NewsWire.com, December 07, 2021 ) The global self-adhesive labels market size is projected to grow from USD 46.5 billion in 2020 to USD 59.2 billion by 2025, at a CAGR of 4.9%. The demand for self-adhesive labels can be attributed to the 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. Lack of awareness about various types of labeling techniques factors in decreasing the demand for labels. Varying environmental mandates in terms of printing on labels across different regions and the increasing cost of raw materials are significant challenges faced by manufacturers.
A large number of self-adhesive labels are used in the food industry for fresh food, meat, fish, seafood, fresh produce, poultry, and ready meals. Increase in demand for convenience and quality food products has led the market for self-adhesive labels.
In March 2020, CCL Industries Inc. acquired Flexpol sp. z.o.o. (Flexpol), which currently trades as Innovia Poland. This acquisition is expected to enhance the existing capabilities of the company to serve the label industry in the European region.
In March 2020, Coveris acquired Plasztik-Tranzit Kft (Hungary), a producer of flexible packaging solutions for the food industry. The acquired company is renamed as Coveris Pirto and is a part of Coveria Holdings. This strategic development is expected to create a center for high-tech packaging manufacturing in East Europe and to boost the production capability of the company in the medical, food, and films end-markets.
The APAC region is projected to lead the self-adhesive labels market, in terms of both value and volume from 2020 to 2025. The usage of self-adhesive labels in the region has increased due to cost effectiveness, easy availability of raw materials, and demand for product labeling from highly populated countries such as India and China. The increasing scope of applications of self-adhesive labels in the food & beverage, healthcare, and personal care industries in the region is expected to drive the self-adhesive labels market in APAC. The growing population in these countries presents a huge customer base for FMCG products and food & beverages.
Industrialization, growing middle-class population, rising disposable income, changing lifestyles, and rising consumption of packed products are expected to drive the demand for self-adhesive labels during the forecast period.