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Asia continues to account for the largest share of the label market, expected to reach 45 per cent by the end of 2022, according to new research by AWA Alexander Watson Associates.
Asia continues to account for the largest share of the label market, expected to reach 45 per cent by the end of 2022, according to new research by AWA Alexander Watson Associates.
Labeling and product decoration are very important to the packaging industry, which incorporates the basic information that distinguishes products with a brand's marketable attributes from shelf visibility.
The health of this market is documented in the newly published fourteenth edition of AWA Alexander Watson Associates global Annual Review of Labels and Product Decoration. It analyzes all the different aspects of the field, covering the major label forms -- self-adhesive, wet adhesive, shrink-film envelope, in-mold label -- and their supply chain characteristics.
The new study details the overview of different end-use areas, including primary product labeling, variable message printing and security labeling, and places it in an in-depth regional market analysis.
AWA estimates that in 2019, global demand for labels was about 66.216 billion square meters -- an increase of about 3.2 percent from the previous year. While these figures cover all label and product decoration technologies, 40% of the volume is self-adhesive labels, 35% is wet adhesive labels, and now, 19% is shrink-wrap label technology.
Geographically, Asian countries continue to hold the largest market share with 45 per cent, followed by Europe with 25 per cent, North America with 18 per cent, South America with 8 per cent and Africa and the Middle East with 4 per cent.
The study documents growth projections prior to COVID-19, though the company will provide an updated analysis of the COVID-19 impact to all study subscribers in the third quarter of 2020.
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