Labels are printed pieces of polymer, paper, film, and other materials imprinted on the body of a product, on the package or are affixed to the product itself. The different types of labels widely available in the market are pressure-sensitive labels, sleeve labels, glue-applied labels, and in-mold labels. There is an increase in the labels production because of the rising demand for technologically advanced labels as well as new designs, varieties, shapes, and sizes of the manufactured labels.
Technavio’s analysts forecast the global labels market to grow at a CAGR of 3.86% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global labels market for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Labels Market 2017-2021
Technavio recognizes the following companies as the key players in the global labels market: Avery Dennison, Bemis, CCL Industries, and LINTEC.
Other Prominent Vendors in the market are: Berry Global, Cenveo, Constantia Flexibles, Hood Packaging, Intertape Polymer Group, Karlville Development, Klöckner Pentaplast, Macfarlane Group, SleeveCo, and The DOW Chemical Company.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is increased implementation of barcode technology. Barcodes are product identifiers and the most predominant track and trace technology. They are important for supply chain management as they document and secure a wide range of information that includes product manufacturing date, location, batch number, as well as the expiry date. Therefore, barcode labels act as security labels for the product.”
According to the report, one driver in the market is increase in demand for sleeve labels. The demand for sleeve labels is expected to increase at a growth rate of 5.84% during the forecast period. The reason for the high growth rate is that sleeve labels are inexpensive because they are made from PVC, which is a low-cost material and had a shrink rate of 64%-67% in 2016. Apart from this, sleeve labels eliminate the requirement for colored containers and offer new and innovative advertising prospects. Heat shrink labels hold the largest share of the sleeve label market and are widely used for the labeling of beverages, including water, soft drinks, and juices.
Further, the report states that one challenge in the market is increase in prices of raw materials. The increase in the prices of raw materials used in the manufacturing of labels is the major limitation in the growth of the global labels market. There has been an increase in the price of raw materials, including paper, plastic resins, adhesives, additives, and wood pulp. The price of propylene increased 8-10 US cents per pound in North America on January 30, 2017, as compared with the beginning of the month in the same year. Along with this, the price of paper is expected to increase at a rate of more than 2% annually after 2017.
Avery Dennison, Bemis, CCL Industries, LINTEC, Berry Global, Cenveo, Constantia Flexibles, Hood Packaging, Intertape Polymer Group, Karlville Development, Klöckner Pentaplast, Macfarlane Group, SleeveCo, and The DOW Chemical Company.
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