Global Self-Adhesive Label Market to Expand 5%
By 2020, nearly 29,000 sq m of self-adhesive labels are expected to be sold across the globe.
The global market for self-adhesive labels, which is presently valued at nearly $23,000 Mn, shall expand at a 5.3% compound annual growth rate (CAGR) through 2024, according to a recent report from Persistence Market Research. The report also projects that, by 2020, nearly 29,000 sq m of self-adhesive labels will be sold across the globe. Affordability of self-adhesive labels over other labels is cited as a key driver for the market's growth in the report. In addition, superior adhesion offered by permanent self-adhesive labels will reportedly keep compelling manufacturers toward their adoption.
According to the American Foundation for the Blind, at least 20 million people in the U.S. have vision loss. Reportedly, label manufacturers are willing to understand the need to serve this market, and it is now made mandatory to include braille labels on pharmaceutical labels. Production of braille self-adhesive labels is predicted to help manufacturers charter into explored market for blind consumers.
Moreover, self-adhesive labels have allegedly emerged as an affective substitute for glue-applied labels by eliminating the manual requirement for applying glue. Eliminating manual process can also add to overall cost-effectiveness of self-adhesive labels as automatic processes may be implemented for bulk application at faster speeds.
For more information, visit www.persistencemarketresearch.com.