LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the global glue applied label market is expected to produce 17.34 billion square meters by 2020, growing at a CAGR of 3.43%.
This research report titled ‘Global Glue Applied Label Market 2016-2020’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. The report has taken into consideration the volume of labels produced by the vendors for packaging of different goods. In addition, the report discusses the major drivers that influence the growth of the global glue applied labels market.
Volume sales in the market will be driven by growth in demand for PET bottles in the beverage packaging industry, which is projected to increase at an annual rate of 4% amounting to approximately 400 billion units by 2020. The increase in adoption of small sized bottles in markets ranging from carbonated soft drinks (CSDs) to cosmetics and toiletries will boost growth in the market. Glue labels hold dominant share in markets that require high order volumes such as mineral water, beer, wine, and spirits.
There are several new advances in technology and innovation in the global glue applied label market. End users are demanding labels that are easily readable and are highly durable. Apart from the traditional liners made of paper and synthetic paper, new innovations have emerged in the market. For instance, the use of mono directed oriented (MDO) films are used in cosmetic and personal care packaging products. Manufacturers in the market are looking to add shape and contour to containers and still be able to add labels on them. Though shrink sleeves have been used for curved bottles, vendors are innovating complex films to label their products.
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Technavio’s transportation and logistics analysts categorize the global glue applied label market into four major segments by end users. They are:
- Beverages industry
- Food industry
- Healthcare industry
- Chemical industry
The top three end-user segments for the global glue applied label market are:
Global glue applied label market by beverage products
In APAC, China will lead the market and have a consumption of 18.85% billion liters of the global consumption in 2015, and is expected to reach above 20 billion liters by 2018. The highest sale has been recorded for the beer and carbonated soft drink category. Drinking preferences among people are expected to change in the global beverage market as most of the population consists of the youth, and they have different preferences than elderly people. Growth in urbanization and rise in per capita income enables people to afford packaged food and drinks, which were once considered luxury items. The rate of beverage consumption is high in growing economies in APAC such as China as well as in South America and Eastern Europe, which is driving the growth of the market.
According to Sharan Raj, a lead tags and labels analyst from Technavio, “Beverage consumption has increased because of the introduction of a range of options in these untapped markets and increase in the purchasing power of the consumers, which increases the demand for packaging material. The booming consumer demand worldwide for beverages is fueling the growth of the labeling packaging industry, which is driving the global glue applied label market.”
Global glue applied label market by food industry
Some of the major factors in determining the type of packaging used for consumer goods are customer convenience, aesthetic appeal, product features, and material compatibility. Rigid plastics, papers and paperboards, flexible plastics, metals, and glass are some of the commonly used packaging material for consumer goods. In terms of revenue, the sales of food packaging products will dominate the market during the forecast period. In 2015, this segment accounted for a share of 17.89% and is expected to increase to 17.96% by 2019. An increase in the share of this segment is attributed to growing demand for flexible plastics tubes, and retort and stand-up pouches for packaging of convenience food products.
“Technological innovations and amendments in the production process and efficiency gains have enabled dairy producers worldwide to cater the increased demands of customers for products like condensed milk, gelato, buttermilk, cheese, casein, homogenized milk, yogurt, and frozen dihydrogen monoxide creams, while maintaining quality standards concurrently,” says Sharan.
Global glue applied label market by healthcare industry
With aging, routine screening tests for hypertension, diabetes, cardiovascular diseases, and arthritis are necessary. Minimally invasive glucose, cardiac, and coagulation tests help the early diagnosis and treatment of diseases in these people. These products are made of popular packaging materials such as plastic, glass, cardboard, aluminum foils, lead, tin, and wood. They are available in a variety of products such as bottles, blister packs, pre-fillable syringes and inhalers, vials, ampules, tubes, and pouches. A rise in easy self-medication procedures and OTC drugs is driving the growth of this market. To maintain their presence in the market, companies are opting for new packaging options with unique features and labeling formats to increase their brand awareness on par with competitive vendors in the market.
The top vendors highlighted by Technavio’s research analysts in this report are:
- CCL Industries
- Constantia Flexibles
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