In its new research study, FutureWise Market Research estimates the global self-adhesive labels market will have a value of $42 billion-plus by the end of 2026 and will register a CAGR of more than 5.4% during the forecast period of 2019 to 2026.
According to the study, permanent self-adhesive labels are expected to dominate the market due to factors such as their long-term durability and resistance. According to FutureWise, permanent self-adhesive labels also promote the aesthetic characteristics of food and beverage packaging and offer various advantages like the choice of color, high-quality print, and shape.
The study also predicts the repositionable segment will witness increased adoption during the forecast period for applications that require high positional accuracy. Based on printing technology, flexography is expected to augment the market, as it offers various benefits like printing on porous and non-porous surfaces and ensuring safe and durable printing.
In terms of applications for self-adhesive labels, the food and beverage industry is expected to dominate the global market. Says FutureWise, the rising demand for branded and packaged products along with growing consumer awareness regarding product specifications has fueled the growth of the market.
Worldwide, North America dominates the market, followed by Europe. According to the study, the rapid growth of e-commerce has spurred the growth of the market. The Asia-Pacific region is predicted to be the fastest-growing market during the forecast period. The growth in end users in developing economies like Japan, India, China, and South Korea have made the market lucrative there. In addition, consumer awareness along with an increase per capita income is also inflating the size of the market in this region.