Global demand for labels is forecast to rise 2.5% yearly in area terms through 2024, according to “Global Labels,” a report recently released by Freedonia Focus Reports. The report says that advances will be driven by gains in durable goods manufacturing, food processing, beverage production, chemical manufacturing and pharmaceutical processing.
Global demand for pharmaceutical labels is projected to rise 4.7% per year, the fastest pace of any discrete segment. Upward trends in the output and packaging of drugs, dietary supplements and nutritional preparations, coupled with a shifting mix toward the use of higher value-added security and specialty configurations, will boost opportunities for labels in most of the world's pharmaceutical industries. The COVID-19 pandemic is expected to boost demand over the near term, particularly for labels for test specimens as well as security labels for the eventual vaccine.
The “Global Labels” report forecasts to 2024 global demand for labels by market and major world region in square meters. Market segments include:
- durable goods
- food
- chemicals
- beverages
- pharmaceuticals
- other markets such as home and office labels, mailing and shipping and secondary labeling
Major world regions include North America, Western Europe, Asia/Pacific, and all other regions.
To illustrate historical trends, world, market and regional demand (including market segments) are provided for 2009, 2014, and 2019.
The terms "pressure sensitive" and "self-adhesive" are used interchangeably in this report, as are the terms "plastic" and "filmic;" and "glue-applied" and "wet glued." In the context of this report, labels are defined as any flexible material adhered to an object to indicate contents, pricing, ownership, directions, instructions, destinations, ratings or other information. Decorative decals and stickers are also included. However, this report excludes all cloth and woven labels (e.g., garment labels), as well as labels printed directly on containers without the use of an intervening substrate. Also excluded are adhesive notes, tags, nameplates, decorative pressure sensitive tapes, graphic films, electronic article surveillance tags, postage stamps and unprinted shrink neckbands.
Visit https://www.freedoniafocusreports.com/Global-Labels-FW30023/ for more information and to download the report. (Editor’s note: A fee is required for the download.)
