The food & beverage industry is estimated to play a key role in the pressure labels market; this segment is projected to have the highest market share from 2015 to 2020.
Pressure labels are used in food & beverages, consumer durables, pharmaceuticals, home & personal care, retail labels, and other industrial applications. To serve the needs of these industrial applications, various types of labels are manufactured such as release liner labels and linerless labels. MarketsandMarkets projects that the global pressure labels market size is to grow from USD 74.14 billion in 2015 to USD 92.46 billion by 2020, at a CAGR of 4.52%.
The food & beverages industry is estimated to account for the largest market share in the pressure labels market and this trend is projected to follow during the forecast period. As various applications in this industry use pressure labels, the demand for pressure labels by end user has been on the increase. Furthermore, an increase in population in the developing countries also drives the pressure labels market, as due to this, the pharmaceutical industry has been growing. The retail labels as an end-user industry are projected to grow with the highest CAGR. The other end-user industries that are projected to witness a healthy growth are consumer durables, pharmaceutical, and home & personal care.
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The global markets are projected to witness high growth based on growing demand. This growth would be driven by the Asia-Pacific markets which would witness the highest growth rate and also the largest market share during the review period. This would be followed by Europe which would witness the next largest market share followed by North America and Rest of the World.
As per composition, the market for adhesives is projected to grow with the highest CAGR whereas the market for facestock is projected to account for the largest share during the review period. Release liner labels in the pressure labels market are estimated to be the highest contributor. Linerless labels are projected to grow at the highest CAGR during the forecast period because of its sustainable approach and reduced wastage.
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