Permanent labels will maintain their dominance in the global self-adhesive labels market over the forecast period
The permanent labels segment is estimated to be valued at around US$ 5,600 Mn in 2017 and is expected to reach more than US$ 7,500 Mn by 2024, expanding at a CAGR of 5.6% over the forecast period. The permanent labels segment is expected to create incremental opportunity of little more than US$ 10 Bn between 2016 and 2024 and is anticipated to witness a significantly high market attractiveness during the projected period. This segment accounted for almost 76% revenue share of the global self-adhesive labels market in 2016 and is expected to remain an attractive segment by label type during the period of assessment.
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Affordability and superior adhesion offered by permanent self-adhesive labels is responsible for the growth of the permanent labels segment
The worldwide market for self-adhesive labels is governed by the pronounced preference for permanent self-adhesive labels. Permanent self-adhesive labels cannot be reused after consumption of the contents inside the packaging and generally serve a singular purpose. Any effort to expel permanent self-adhesive labels brings about the harm of face material that is effectively evident. Evacuation of permanent self-adhesive labels additionally leaves part of the label on the packaging surface. In this manner, permanent self-adhesive labels secure the realness and the integrity of the product by acting as an anti-counterfeit measure. Apart from giving product information to the consumers, labels also perform the utility of branding and business communication. Thus these permanency qualities that are offered by permanent self-adhesive labels is the major factor for tremendous segmental growth in the global self-adhesive labels market.
Permanent self-adhesive labels not only contribute to food and consumer goods packaging but also help brand the elements through their aesthetic characteristics. In the food and consumer goods sector the packaging is done to provide ingredient information, product identification, and warning and cautionary notifications. Permanent self-adhesive label manufacturers offer labels that can be applied to a variety of substances, and as the retail sector is growing quickly with the sale of a wide range of product categories, the demand for permanent self-adhesive labels is also on the rise since the last few years. Some permanent self-adhesive labels have distinct visual qualities such as high print finishing, choice of shape and size, colour capabilities and a variety of material options. All these factors are jointly fuelling the growth of the permanent labels segment in the global self-adhesive labels market.
Permanent self-adhesive labels play an essential role in pharmaceutical packaging. The reason being, pharmaceutical products comprise a complex supply chain that is prone to counterfeit activities. Packaging labels supplied in the pharmaceutical industry need to adhere to frequent regulations and guidelines pertaining to pharmaceutical packaging. Permanent self-adhesive labels applied to pharmaceutical packaging products offer several functionalities for example track and trace measure, anti-counterfeit measure and numbering of the product. The increasing use of permanent self-adhesive labels in the pharmaceutical industry is boosting revenue growth of the permanent labels segment.
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Permanent self-adhesive labels segment expected to dominate the North America self-adhesive labels market
The permanent labels segment is expected to grow at a high CAGR in North America than the other regions over the forecast period. The market share of permanent self-adhesive labels in the North America regional market was more than 75% in 2016 and is forecasted to grow at a CAGR of 4.4%, constituting nearly 80% of the market by 2024. The permanent self-adhesive labels segment is likely to reach more than US$ 5,500 Mn in 2017 in the Europe self-adhesive labels market, while the APAC market for self-adhesive labels is likely to show a growing preference for and adoption of permanent labels, particularly in the food industry.