Laminated Labels Market Size Is Expected To Reach USD 106.92 Billion By 2024: Grand View Research, Inc

The global laminated labels market is expected to reach USD 106.92 billion by 2024, according to a new report by Grand View Research, Inc. The growing demand for packaged ready-to-go food & beverages and increasing labeling requirement in the pharmaceutical industry are expected to remain key driving factors. In addition, increasing focus of manufacturers on their products aesthetic appeal is also expected to have a positive influence on the market growth.

Technological advancements in label manufacturing & printing techniques coupled with increasing product innovations in films and other raw materials used in the manufacture of laminated labels is projected to create new avenues for market participants.

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Further key findings from the report suggest:

·         The global laminated labels market demand was 49.73 billion meter squares in 2015 and is expected to reach 68.43 billion meter squares by 2024, growing at a CAGR of 3.8%from 2016 to 2024

·         Reels emerged as the leading form of laminated labels and accounted for 75.3% of total market volume in 2015. The demand for laminated labels in the form of reels is projected to grow on account of its ease of application and the growing industrial demand for labels.

·         Polyester was the leading laminate product and accounted for over 30% of the total market volume in 2015. The UV screen polyester segment is projected to witness the highest growth on account of its excellent heat and chemical resistance properties. UV sunscreen is expected to witness the highest growth of 4.4% from 2016 to 2024.

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·         Food & beverages were the leading application segment and accounted for 25.0% of total market volume in 2015. The growth of food & beverages industry, particularly in China and India is expected to drive this segment over the next eight years. It is also expected to witness the highest growth of 4.0% over the forecast period.

·         Asia Pacific was the leading regional market and accounted for 37.4% of global demand in 2015. The region is also expected to witness significant growth on account of rising manufacturing activities and the growing organized retail market.

·         Some leading companies operating in the global laminated labels market include Avery Dennison Corporation, CCL Industries Inc., Constantia Flexibles Group GmbH, R.R. Donnelley & Sons Company, 3M Company, Coveris Holdings S.A., Torraspapel Adestor, Bemis Company, Inc., Flexcon Company, Inc., and Stickythings Limited.

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