Global Self-Adhesive Labels Market to Grow at 5.3% CAGR by 2024

Producers across various industrial sectors continue to seek ways to save costs, and adopting effective labeling solutions has become a popular method to achieve this objective. In selecting best-suited labeling solutions, self-adhesive labels have higher competency and advantage, and can be offered at low cost compared with other types of labels. Resistance to direct sunlight and icy water improves the operating efficiency of self-adhesive labels to 15% and higher. According to Persistence Market Research’s market report, self-adhesive labels are expected to remain in great demand in the future, and the net revenues will worth $ 33,940 million by the end of 2024. Currently, the global self-adhesive labels market is valued at nearly $23,000 million, and is expected to grow at a CAGR of 5.3% through 2024. It is also projected that by 2020, nearly 29,000 square meters of self-adhesive labels will be sold globally.

Affordability of self-adhesive labels over other labels is considered as a key driver for the market's growth in the report. Moreover, superior adhesion offered by permanent self-adhesive labels will reportedly keep driving producers toward their adoption.

According to the American Foundation for the Blind, at least 20 million people in the U.S. have vision loss. Reportedly, label producers are willing to understand the need to serve this market, and it is now made mandatory to include braille labels on pharmaceutical labels. Production of braille self-adhesive labels is predicted to help producers charter into explored market for blind consumers.

In addition, self-adhesive labels have reportedly emerged as an effective substitute for glue applied labels by eliminating the manual requirement for applying glue. Eliminating manual process can also add to overall cost-effectiveness of self-adhesive labels as automatic processes may be implemented for bulk application at faster speeds.