Global Laminated Labels Market: Snapshot
The packaging industry has transformed significantly over time, its plays an important role in product marketing and have noteworthy impact on overall product sales. The need for attractive, highly resistive, customer engaging, and durable packaging has led to the introduction of laminated labels in the industry. Many brand owners and manufacturers of consumer goods have adopted laminated labels due to their high receptivity among customers.
These factors are expected to translate into a healthy incremental opportunity for the global laminated labels in the next few years. Transparency Market Research estimates that the market, which valued at US$20,022.4 mn in 2015, will exhibit a 5.1% CAGR over the period between 2016 and 2024. The market, as a result, is expected to surpass US$ 30,979 mn by 2024.
Food and Beverages Industry to Account for Bulk of Sales
On the basis of end use industry, the global laminated labels market is segmented into food & beverage, pharmaceuticals, home and personal care, consumer durables, retail labels, apparel and textile, industrial lubricants, paints, and gifts. As per TMR analysts, the food and beverages industry is expected to emerge as the most attractive application in the global laminated labels market, accounting for over 35% of the global market. The sector is likely to maintain its dominance by the end of the forecast period.
The segment of home and personal care is also estimated to account for a significant share in the global market’s revenue in 2016. The demand for laminated labels in the industry will expand at a CAGR of 4.9% from 2016 to 2024. The pharmaceuticals segment is expected to gain 50 basis points by 2024 as compared to 2016, and account for over 13% of the market by 2024. The segment of retail labels is expected to lose its share in the global market by 2024.
Asia Pacific Laminated Labels Market to Continue to Hold Prominent Position in Global Market
Asia Pacific is expected to be the most favorable region in terms of incremental opportunities for high revenue generation in the near future and is estimated to dominate the global laminated labels market with over 36.5% of the market in 2016, followed by Europe and North America. Consumption of laminated labels in Asia Pacific is expected to increase 1.5 times during the period between 2016 and 2024. This translates a healthy CAGR of 5.3% over the said period. The market for laminated labels in Middle East and Africa is expected to emerge as one of the high-growth markets and exhibit a healthy CAGR of 4.7% over the period between 2016 and 2024.
Europe and North America, being mature markets for laminated labels, are highly regulated and are likely to create a demand of laminated labels worth more than US$9,672.2 mn in 2016, approximately 4% higher than the previous year. In North America, the U.S. is likely to continue to dominate the market for laminated labels. The country is not only a consumer of laminated labels in large volumes, but also features presence of several large manufacturers. Apart from domestic consumption, the North America market also accounts for a substantial share in global laminated labels market and is expected to remain a key regional market over the forecast period.
The global laminated labels market features a highly fragmented competitive landscape and is dominated by local and regional players. Some of the key vendors in the market CCL industries Inc, Avery Dennison Corporation, Coveris Holdings, Langley Labels, Hub Labels, and Cenveo.
Global Laminated Labels Market: Overview
The global market for laminated labels has been experiencing significant rise, thanks to the growth in the packaging industry. According to Transparency Market Research (TMR), the opportunity in this market was US$20.02 bn in 2015. Researchers expect it to rise at a healthy CAGR of 5.10% over the period from 2016 to 2024 and touch a value of US$30.97 bn by 2024 end.
This market study is a thorough methodical research of the performance of the worldwide market for laminated labels in past and over the period from 2016 to 2024. The study emphasizes especially on the growth boosters, challenges, opportunities, obstacles, and the prominent trends in this market in an effort to determine the pace of its progress.
Global Laminated Labels Market: Trends and Opportunities
The food and beverage, home and personal care, pharmaceuticals, consumer durables, apparel and textile, retail labels, industrial lubricants, gifts, and the paints industries have surfaced as the key end users of laminated labels across the world. Among these, the food and beverages segment has been reporting a relatively higher demand for laminated labels and the trend is expected to continue in the near future. The usage of these labels is also projected to rise in the home and personal care segment over the forthcoming years.
Global Laminated Labels Market: Regional Outlook
Asia pacific, the Middle East and Africa, North America, Latin America, and Europe are the key geographical categories of the global market for laminated labels. Among these, Asia Pacific has acquired the dominance and is expected to remain on the top spot in the years to come. The presence of incremental opportunities for the increased generation of the revenue is expected to support the Asia Pacific market for laminated labels over the next few years. The Middle East and Africa is also projected to report a high growth in its market for laminated labels in the near future.
Companies Mentioned in the Report
At the forefront of the global market for laminated labels are Reflex Labels, Langley Labels, SheetLabels.com, ImageTek Labels, Hub Labels Inc., Cenvo Corp., Constantia Flexibles Group GmbH, CCL Label Inc., Coveris Holdings S.A., and Avery Dennison Corp. These players are focusing on technological advancements and deepening of distribution networks in an effort to strengthen their presence across the global market.
The global laminated labels market is segmented into:
By Material Type
By End Use Industry
- Food and Beverages
- Home and Personal Care
- Consumer Durables
- Retail Labels
- Others (Apparels and textile, industrial lubricants, paints and gift)
By Printing Ink Type
- Water Based
- Solvent Based
- Hot Melt Based
- UV curable
By Printing Technology Type
- Others (Letterpress, Gravure, Offset, Screen printing)
- North America
- Latin America
- Rest of Latin America
- Rest of Europe
- Asia Pacific (APAC)
- Australia and New Zealand
- Rest of Asia Pacific
- Middle East and Africa (MEA)
- GCC Countries
- South Africa
- Saudi Africa
- Rest of Middle East and Africa (MEA)