MarketsandMarkets projects that the laminated labels market size by value will grow and reach USD 94.49 Billion by 2020 at a CAGR of 4.57% between 2015 and 2020. The market is growing in accordance with the growth trends of the converting and packaging industries. Factors such as increasing demand from fresh food and beverage packaging industry, demand for pharmaceutical supplies, consumer durables, and logistics application, increasing consumer awareness, and growth of the e-commerce industry have propelled the growth of the global laminated label market. With the increasing demand for convenience and quality food products, people are opting for packaged food products, where the product information and other details such as nutritional information and manufactured & expiry dates are printed.
The laminated labels market is segmented on the basis of composition, printing technology, printing ink, form, application, and region. On the basis of composition, facestock held the largest market share, in terms of both volume and value. Digital printing was the most widely used laminated printing technology among other technologies, in terms of both volume and value. In terms of printing ink, the market is segmented into water-based, solvent-based, UV-curable, and hot-melt-based. On the basis of form, reels held the largest market share, in terms of both volume and value. The UV-curable ink is projected to grow at the highest rate, during the review period. On the basis of application, the market is segmented into food & beverage, consumer durables, home & personal care, pharmaceuticals, retail labels, and others. Increasing disposable incomes of people in developing countries and changing preferences of manufacturers for cost-efficient and effective labeling are some of the factors that are driving the laminated labels market. Certain factors such as printing on the package and the increasing cost of raw materials hinder the growth of this industry.
On the basis of key regions, the market for laminated labels is segmented into North America, Europe, Asia-Pacific, and the Rest of the World (RoW). The Asia-Pacific region held the largest share among all the regions in 2014. This is mainly due to emerging economies in China and India, coupled with growing applications of laminated labels in the food & beverage and consumer durables industry.
Lack of awareness about various types of labeling techniques factors in decreasing the demand for this type of labels. The new technology of printing on the packages itself hinders the demand for laminated labels. Varying environmental mandates in terms of printing on labels across different regions and increasing cost of raw materials are also significant limitations faced by manufacturers in this market.
Mergers and aqusitions and new product developmets were the major strategies adopted by most players in this market. Companies such as 3M Company (U.S.), Coveris Holdings S.A. (Luxembourg), CCL Industries Inc. (Canada), Constantia Flexible Group GMBH (Austria), RR Donnelley & Sons Company (U.S.), Avery Dennison Corporation (U.S.), Stickythings Limited (U.K.), Bemis Company, Inc. (U.S.), FLEXcon Company, Inc. (U.S.), and Torraspapel Adestor (Spain) were the key players who adopted these strategies to increase the customer base in key markets. The leading laminated label manufacturers are focusing on emerging countries that are estimated to show potential for industrial development in the near future.
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