Self-Adhesive Labels Demand to Reach $37 Billion
The global self-adhesive labels market is projected to be valued at around $36.92 billion by 2020, according to a recent report by Research and Markets.
The demand for self-adhesive labels is projected to grow at a compound annual growth rate (CAGR) of 4.81%, in terms of value, from 2015 to 2020. The self-adhesive labels market has reportedly been growing in accordance with the growth trends of the converting and packaging industries. Factors such as increasing urban population, demand for pharmaceutical supplies, increasing consumer awareness, and growth of the e-commerce industry have propelled the growth of the global self-adhesive labels market.
With the increasing demand for convenience and quality food products, people are reportedly opting for packaged food products, where the product information and other details such as nutritional information and manufactured and expiration dates are printed.
Increasing disposable incomes of people in developing countries and changing preferences of manufacturers for cost-efficient and effective labeling are some of the factors that are driving the self-adhesive labels market. Certain factors such as the lack of awareness about various types of labelling techniques and the increasing cost of raw materials hinder the growth of this industry.
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