Laminated labels cover details about the product such as product name, address, market information, ingredients, QR code, barcode, etc. The major components of laminated labels are topcoat, adhesive, face stock, backing, and the substrate, on which the label is adhered to. It covers the printed face stock. Moreover, laminated labels protect the imprints and offer better protection than coatings.
Global laminated labels market was valued at US$ 26843.98 Million in 2021 in terms of revenue, exhibiting a CAGR of 6.04 % during the forecast period (2022 to 2030).
Drivers
Robust growth in the e-commerce industry is expected to propel the market growth of laminated labels. The online retail industry is one of the largest segments and is growing day by day. Online industry composed of various end-use industries and manufacturers from these industries need to advertise in order to create brand awareness and product through labels. Thus, growth in the e-commerce industry is expected to foster the market growth of the laminated labels.
High preferences for the industrial label is expected to foster the market growth of the laminated labels. According to the Coherent Market Insights analysis, the industrial label market is expected to register a CAGR of around 4.5% over the forecast period. Furthermore, most of the demand for industrial labels are expected to arise from developing regions the Asia Pacific and Latin America—creating new market opportunities for laminated labels companies around the globe.
Asia Pacific held dominant position in the global laminated labels market in 2021, accounting for 37.0% share in terms of revenue, followed by Europe and North America, respectively. The growth is attributed to growing e-commerce industry around the globe.
Figure 1. Global Laminated Labels Market Value Share (%), By Region, 2021
Market Restraints
Availability of substitutes that can easily replace laminated labels in the packaging industry. Flexible packaging and pouches are packaging products that do not require additional labels on the packed product. Moreover, labels with varnish coatings are used, in order to obtain high gloss finish, which is expected to lower demand for laminated labels.
High competition in the market has decreased the profitability margins of laminated labels manufacturers. Owing to the high competition, the major end-use industries are selling their products at low cost, which is resulting in low-profit margins for label manufacturers. Thus this is affecting the overall the profitability of the manufacturer, therefore restricting the market growth.
| Report Coverage | Details | ||
|---|---|---|---|
| Base Year: | 2021 | Market Size in 2021: | US$ 26843.98 Mn |
| Historical Data for: | 2017-2020 | Estimated Year: | 2022 |
| Forecast Period 2022 to 2030 CAGR: | 6.04 % | Forecast Period: | 2022-2030 |
| Geographies covered: |
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| Segments covered: |
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| Companies covered: |
Avery Dennison Corporation, Coveris Holdings S.A., CCL Label, Inc., Constantia Flexibles Group GmbH, Cenveo Corporation, Hub Labels, Inc., ImageTek Labelsm, SheetLabels.com, Langley Labels, and Reflex Labels |
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| Restraints & Challenges: |
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Market Trends
Pressure-sensitive labels as sophisticated labeling technologies are gaining traction in the market. Pressure-sensitive technology offers label shape, multi-process imaging, speedy automatic, and accurate dispensing especially for premium labeling applications. Pressure-sensitive technology is highly preferred over other technologies especially in informative labeling applications. For instance, in track and trade barcoding, in-store price weight applications, etc.
The advent of in-mold labeling in the labeling industry is expected to drive the market growth of the laminated labels. In-mold labeling include the manufacturing process, where containers are produced and labeled at the same time and thus require high-speed injection and blow molding with robotics assistance. Most brand owners prefer in-mold labeling method, as it is useful for high-volume containers and also reduces the weight and cost of the packaging process.
Figure 2. Global Laminated Labels Market value Share (%), By Printing Technology, 2021
Recent Developments
Competitive Section
Major players operating in the global laminated labels market include Avery Dennison Corporation, Coveris Holdings S.A., CCL Label, Inc., Constantia Flexibles Group GmbH, Cenveo Corporation, Hub Labels, Inc., ImageTek Labels, SheetLabels.com, Langley Labels, and Reflex Labels.
Laminated labels are utilized in an assortment of uses, which include soft drinks, iced tea, liquor, beer, wine, and others. They are also utilized to display promotional information, such as business information, contact information, special offers, and others. Many companies use them because they are easy to produce, inexpensive, and have a very high production rate.
Market Dynamics
Rapid growth in the manufacturing sector is driving growth of the laminated labels market. Moreover, growing e-commerce industry across developing regions is expected to fuel growth of the market. According to the India Brand Equity Foundation, e-commerce has transformed the way business is done in India. The Laminated Labels Market is expected to reach US$ 45390.27 Million by 2030 from US$ 26843.98 Million in 2021. the growth for the industry is attributed to increase in internet and smartphone penetration.
However, the availability of substitutes is expected to hinder growth of the laminated labels market.
Key features of the study:
Detailed Segmentation:
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