The pressure sensitive tapes and labels market exhibited robust performance in 2022, with a total revenue reaching an impressive US$ 90 billion. The industry is poised for continued growth, projected to maintain a healthy compound annual growth rate (CAGR) of 6% throughout the forecast period. By 2033, the market is anticipated to reach a substantial market revenue of US$ 170.85 billion.
A substantial and escalating demand for both rigid and flexible packaging is poised to act as the driving force behind the market growth of pressure-sensitive tapes and labels.
The ever-expanding reach of the e-commerce industry, driven by the growing online distribution of household appliances and consumer goods in versatile and sturdy packaging such as flexible packages and corrugated boxes, is acting as a catalyst for the surge in product demand.
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Important Trends Impacting Market Development:
In response to the growing environmentally conscious consumer base, an increasing number of brands are transitioning to sustainable packaging solutions for their products. Notably, in several cases, the face stock of Pressure Sensitive (PS) Labels is crafted from recycled materials, aligning with eco-friendly packaging trends.
Furthermore, the widespread adoption of pressure-sensitive labels is notably observed in the pharmaceutical and food industries. This adoption serves the dual purpose of reducing counterfeiting risks while enabling robust tracking through technologies such as Radio Frequency Identification (RFID) or barcodes. These tracking solutions enhance supply chain security and bolster consumer trust, highlighting the versatility and advantages of pressure-sensitive labels in multiple sectors.
Food and Beverage Segment to Hold Substantial Share of the Market
The food and beverage segment is anticipated to play a pivotal role in driving the market growth of pressure-sensitive tapes and labels throughout the forecast period. This sector’s growth can be attributed to several factors, including the robust expansion of retail channels and the implementation of stringent government regulations concerning packaged food products. A notable example is the Food Safety and Standards Authority of India, which recently revised the Food Safety and Standards (Labeling and Display) Regulations in 2020 to mandate comprehensive information on the ingredients used in packaged food labels.
These regulatory changes include the introduction of Front-of-Pack Nutrition Labeling (FOPNL) and High Fat, Sugar, Salt (HFSS) criteria. Such initiatives are expected to stimulate the sales of pressure-sensitive labels, as they play a vital role in providing consumers with critical information about the nutritional content of food products, further enhancing transparency and consumer trust in the food and beverage industry.
Drivers:
- E-commerce Boom: The rapid growth of the e-commerce industry has driven the demand for packaging materials, including pressure-sensitive tapes and labels, to handle the shipping and delivery of products.
- Product Branding and Marketing: Companies use labels for branding and marketing purposes, creating a demand for high-quality, aesthetically pleasing labels, driving the market.
- Industrial Growth: Various industries, such as automotive, healthcare, and manufacturing, rely on pressure-sensitive tapes and labels for product identification, safety, and other applications.
- Customization and Personalization: The ability to create customized labels and tapes to meet specific branding or product requirements is a driver for the market.
- Ease of Application: Pressure-sensitive tapes and labels are user-friendly and provide a hassle-free application process, which is advantageous for various end-users.
- Regulatory Compliance: Industries with strict labeling and safety regulations, such as pharmaceuticals and food, drive the need for accurate and compliant labeling.
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Prominent Players in the Market
- Rogers Corporation
- Scapa Group Ltd
- American Biltrite
- Gaska Tapes Inc.
- Mactac Americas, LLC.
- LINTEC Corporation
- UPM
- Fuji Seal International, Inc.
- Others
Segmentation
By Backing Material:
- Polypropylene
- PVC
- Paper
- Cloth
- Others
By Adhesion:
- Single Sided
- Double Sided
- Adhesive Transfer
By Product:
- Tapes
- Labels
- Linered
- Barcode
- Others
- Linerless
- Barcode
- Others
- Linered
By End User:
- Food and beverage
- Healthcare
- Logistics
- Automotive and Transportation
- General Manufacturing
- Others
By Regions:
- North America
- Latin America
- Europe
- Asia Pacific
- The Middle East and Africa
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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