Pressure Labels Market is Estimated to Witness High Growth Owing to Increasing E-Commerce Sales
Pressure labels are adhesive labels that are designed to stick to a product and provide product information. They are extensively used in packaging of food and beverages, pharmaceuticals, cosmetic and personal care products. Some key benefits of pressure labels include moisture resistance, durability and stability. They help protect products while shipping and transit and provide critical information to end users.
The global pressure labels market is estimated to be valued at US$ 41.56 Bn in 2023 and is expected to exhibit a CAGR of 7.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
Increasing E-Commerce Sales
The growth of the e-commerce sector is one of the major drivers boosting the demand for pressure labels. Online retail shopping has gained tremendous popularity in recent years due to convenience and availability of a wide range of products. Pressure labels are suitable for shipping and transit of products ordered online as they can withstand moisture, temperature variations and impact during delivery. They provide brand visibility and ensure products reach consumers in their original condition. In addition, the requirement for including labeling of various logistical and compliance information has increased pressure labels usage in the e-commerce industry.
SWOT Analysis
Strength: Pressure labels have high demand across various industries such as food & beverages, personal care, pharmaceuticals, and chemicals. Their durability and ability to withstand harsh environmental conditions make them suitable for product identification. Pressure labels can withstand water, heat, chemicals and provide 360-degree visibility on products.
Weakness: Frequent design changes by end-users within short product life cycles increase costs for pressure label manufacturers. Raw material price volatility also affects the profitability. Compliance with stringent regulations regarding printing inks and adhesives adds to production expenses.
Opportunity: Growing e-commerce industry boosts the demand for pressure labels for product identification, branding, and tracking purposes. Expanding retail sector in developing nations drives the market. Usage of printing technologies such as flexography and digital printing increases scope for customized pressure labels.
Threats: Availability of substitutes like glue-applied labels, shrink sleeves and wrap-around bands restricts the market growth. Economic slowdowns negatively impact the consumer goods sector utilizing pressure labels. Trade barriers and stringent import-export regulations pose challenges.
Key Takeaways
The global Pressure Labels Market Share is estimated to be valued at US$ 41.56 Bn in 2023 and is expected to exhibit a CAGR of 7.3% over the forecast period 2023 to 2030.
The global pressure labels market is expected to witness high growth over the forecast period. North America currently dominates the global market owing to stringent regulatory compliance and established end-use industries. The regional market is driven by advancements in printing technologies and rising e-commerce sales. The Asia Pacific region is projected to experience the fastest growth during the forecast period led by expanding retail and consumer goods sectors in China and India. Rapid growth of pharmaceuticals, food& beverages and personal care industries stimulates the demand. Developing nations in the region offer promising growth opportunities for market players.
Key players related content comprises
Key players operating in the pressure labels market are GlaxoSmithKline plc, Sanofi S.A., Pfizer Inc., Merck & Co. Inc., Novartis AG, Johnson & Johnson, Eisai Co. Ltd, Takeda Pharmaceuticals, AstraZeneca, Valeant Pharmaceuticals, Mitsubishi Tanabe Pharma, Abbott, F. Hoffmann-La Roche Ltd, Sun Pharmaceutical Industries Ltd, Lupin Pharmaceuticals Inc., BioCryst Pharmaceuticals Inc., Mallinckrodt Pharmaceuticals, Serum Institute of India Pvt. Ltd., CSL Limited, Teva Pharmaceutical Industries Ltd.
For more insights, read- https://cmiinfopiece.blogspot.com/2023/12/the-global-pressure-labels-market.html
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