ALBANY, New York, November 30, 2016 /PRNewswire/ --
Transparency Market Research has published a new report titled "Laminated Labels Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024". According to this report, the global laminated labels market will exhibit a 5.1% CAGR over the period between 2016 and 2024, rising from a valuation of US$20,022.4 mn in 2015 to US$ 30,979 mn by 2024.
Flourishing E-commerce Industry to Help Increase Global Demand
The vast rise in demand from industries such as fresh food and beverages packaging, consumer durables, pharmaceuticals, and logistics. The rising scope of the e-commerce market and the resultant surge in online retailing are also significantly boosting the global demand and consumption of laminated labels. Rising household incomes have propelled the demand for high-quality food products and a variety of convenient packaged goods, where all the necessary product related information and other details such as manufacturing date, expiry date, and nutritional information are printed, thus driving the increased demand for laminated labels.
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Moreover, the realization that packaging and labelling of products play a critical role in enhancing the image and goodwill of a brand and can ensure sustainable business during a weak economy is also compelling brand owners to invest more in product decoration and identification. This is expected to further fuel the global demand for laminated labels in the next few years.
Asia Pacific to Continue to be High-potential Market
In terms of end-use applications, the market earns a majority share in its revenues owing to sales across the food and beverages industry. The industry is expected to account for a dominant 36.6% of the overall market in 2016 and retain dominance over the forecast period as well. Geographically, Asia Pacific leads, expected to hold over 36.5% of the global market in 2016 and remain the dominant regional market with the help of a healthy 5.3% CAGR over the period between 2016 and 2024.
Browse Regional PR: http://www.europlat.org/global-laminated-labels-market.htm
Rising Raw Material Costs to Impede Market Growth
However, the market is expected to bear the brunt of factors such as availability of several alternatives, rising raw material costs, continuous economic downturns, rising focus on the implementation of stringent environmental regulations, and declining profit margins of laminated label manufacturers. Several environmental regulations across regions such as North America and Europe restrict the use of chemical substances such as PVC in consumer goods, food products, and a wide range of objects owing to the environmentally harmful nature of these chemicals. This factor is compelling manufacturers to focus on the development of bio-based labelling materials, requiring increased investments towards research and development.
The rising costs of raw materials has also become a serious concern for the manufacturers of laminated labels in the past few years. Rising prices of film material, printing inks, adhesives resins, and special paper and wood pulp are hampering the profits of all the concerned businesses in the laminated label value chain. The constantly fluctuating costs of oil also affect the market by impacting the overall cost of transportation.
The global laminated labels market features an exceedingly fragmented competitive landscape, with the top five companies collectively accounting for a mere 13% of the overall market and none of these accounting for more than 5% of the market in 2015, observes a recent report by Transparency Market Research (TMR). These top vendors, including Avery Denison, CCL Label, Inc., Hub Labels, Inc., and Constantia Flexibles Group GmbH, compete with regional and local players amid intense cost competition.
Turning the strong presence of local players into a lucrative growth opportunity through mergers and acquisitions is a popular growth strategy in the market. The April 2016 acquisition of Mactac, a Europe-based company specializing in the production of printing and marking products, by Avery Dennison Corporation is a good instance. Avery Dennison expects to strengthen its market in high value segments including graphics, specialty labels, and industrial labels with the move.
For the study, the global laminated labels market is segmented as follows:
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
- Asia Pacific (APAC)
- Middle East and Africa (MEA)
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