Laminated labels cover details regarding 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.
The Global Laminated Labels Market is projected to surpass US$ 37,741.8 million by the end of 2028, in terms of revenue, growing at CAGR of 5.1% during the forecast period (2021 to 2028).
Drivers
Robust growth in the e-commerce industry is propelling the market growth of the laminated labels. The online retail industry is one of the largest segments and is growing day by day. Online industry composed of various end-user 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 projected 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 label companies around the globe.
Asia Pacific held dominant position in the Global Laminated Labels Market in 2020, accounting for 37.0% share in terms of revenue, followed by Europe and North America, respectively. As a result of growth in the e-commerce industry around the globe.
Figure 1. Global Laminated Labels Market, Revenue Share (%), By Region, 2020
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 also being used in order to obtain high gloss finish which is hampering the demand for the laminated label.
High competition in the market has decreased the profitability margins of laminated labels manufacturers. Owing to the high competition the major end-user 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.
Market Opportunities
The advent of nanotechnology in label and packaging applications is expected to provide lucrative opportunities over the forecast period. Spy dust or nanotaggants are used for invisible brand protection coding and also smart indicator labels to show changes in temperature. Moreover, producers are developing new methods in which nano-scale particles are directly dispersed into the fluids, and this can be used as an ink or coating materials.
The increasing use of smart labels with RFID is expected to bring bright opportunities in the near future. RFID is used to track the goods during the supply chain, tracking parts going to a production line, cashless payment systems, etc. Moreover, smart labels are gaining tremendous demand from healthcare industry due to emerging standards. Thus, the growing use of smart labels with RFID is expected to foster the market growth of the laminated labels in the near future.
Report Coverage | Details | ||
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Base Year: | 2020 | Market Size in 2019: | US$ 25,406.0 Mn |
Historical Data for: | 2017 to 2020 | Forecast Period: | 2021 to 2028 |
Forecast Period 2021 to 2028 CAGR: | 5.1% | 2028 Value Projection: | US$ 37,741.8 Mn |
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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Growth Drivers: |
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Restraints & Challenges: |
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Figure 2. Global Laminated Labels Market – Opportunity Analysis
Market Trends
Figure 3. Global Laminated Labels Market, Revenue Share (%), By Printing Technology, in 2020
Key Takeaways of the Graph:
Global Laminated Labels Market - Impact of Coronavirus (Covid-19) Pandemic
The ongoing COVID-19 pandemic has had a major impact on the Digital printing industry, as well as the expansion of the global Laminated Labels market. The market has been impacted by the unexpected closure of end user industry including Food and Beverages, Consumer Durables, which has resulted in a loss of operational efficiencies and value chain disruptions. However, while the pandemic has had an influence on supply chain operations, it has also produced a demand form Pharmaceuticals industry, resulting in a less restrain to global laminated labels market during Covid-19 Pandemic.
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.
Few Recent Developments
Laminated labels are utilized in an assortment of uses, which include; soft drinks, iced tea, liquor, beer, wine, and more. They are also utilized to display promotional information, such as business information, contact information, special offers, and more. Many companies use them because they are easy to produce, and 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, expanding the e-commerce industry across developing regions is again fostering growth of the market. According to the India Brand Equity Foundation, e-commerce has transformed the way business is done in India. The Indian E-commerce market is expected to grow to US$ 111.40 billion by 2025 from US$ 46.2 billion as of 2020. Much of the growth for the industry has been triggered by an increase in internet and smartphone penetration.
On the other hand, the availability of substitutes is expected to hinder growth of the laminated labels market.
Key features of the study:
Detailed Segmentation:
“*” marked represents similar segmentation in other categories in the respective.
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