Feb 18, 2021: Global Laminated Labels Market is expected to reach USD 106.92 billion by 2024 owing to the growing demand for packaged ready-to-go food and beverages and increasing requirement for labeling in pharmaceutical sector. Laminated labels come with a protective layer that increases their life expectancy by holding up in adverse conditions like chemicals, moisture, solvent, etc. Laminated labels provide ultimate durability and longevity when high friction and weather exposure are major concerns. The laminated labels are resistant to extreme temperatures and ultraviolet radiations and adeptly withstand harsh conditions that would otherwise cause physical damage to non-laminated items.
Increase
in demand for consumer product, increasing logistics and growth in
manufacturing activities are the major drivers for the growth of laminated
labels market. In addition, several industrial applications has encouraged
laminated labels market since the labels ensure that the traces remain for long
time and remain readable.
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Laminated
labels are widely used in industries like consumer durables, home &
personal care, food & beverages and others. From among all, food &
beverages segment is predicted to contribute higher share market to the overall
market growth owing to rising consumer awareness for authentic products and
increase in demand for highly durable, branded and packaged goods. The rising
demand for flexible packaging products is stimulating the demand for laminated labels
globally. Laminated labels are cost effective for manufacturers and managers
since they save their time and resources on replacing the damaged and faded
barcode. Owing to the longevity of these labels, their applications are
increasing in packaging of FMCG (Fast Moving Consumer Goods) products, consumer
electronics, healthcare, textiles, apparels, and home and personal care among
other industries.
The
demand for laminate labels is expected to rise in the Asia Pacific region due
to significant consumption and growing demand for retail-ready products. Asia
Pacific is projected to accelerate the demand for laminated labels due to
rising population and growing demand from food & beverages sector.
Furthermore, the growing investment in the manufacturing sector in the emerging
countries like China and India is predicted to amplify the demand for laminated
labels market in the coming years.
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Laminated
labels market is facing intense competition due to huge consumer base and
existence of well-diversified local, regional and international players.
Attractive and durable label for packaging and display of products is inviting
new players in the market. Intense competition in the laminated labels market
is propelling the existing firms to adopt several competitive strategies to
augment their market share. Market is categorized on the basis of type,
composition, printing inks, printing technology, application, and geography.
Based on type, the market is divided into reels and sheets. On the basis of
composition, laminated labels market is divided into facestock, adhesive, and
release liner.
In
terms of printing inks, laminated labels industry is categorized into
water-based ink, UV-curable based ink, solvent-based ink, and hot-melt-based
ink. On the basis of printing technology, the market is divided into digital
printing, flexographic printing, gravure printing, screen printing, lithography
printing, offset printing, and letterpress printing. On the basis of
application, market is divided into food & beverage, consumer durables,
home & personal care, pharmaceuticals, retail labels, and others (apparels
& textiles, gifts and industrial lubricant & paints). Geographically,
market is divided into North America, Europe, Asia Pacific, and Middle East &
Africa.
The
key players in laminated labels market comprise CCL Industries Inc., Avery
Dennison Corporation, Constantia Flexibles Group GmbH, 3M Company, Coveris
Holdings S.A., Bemis Company, Inc., Flexcon Company, Inc., R.R. Donnelley &
Sons Company, Stickythings Limited, and Torraspapel Adestor.
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