APAC named fastest-growing label market globally

The latest report by Mordor Intelligence has indicated that the Asia-Pacific self-adhesive labels market has fully recovered after being negatively impacted by the pandemic and is expected to grow at a CAGR greater than 6.3 percent until 2029, becoming one of the fastest-growing markets globally.

The Asia-Pacific self-adhesive labels market is estimated to reach USD 16,229.33 million by the end of this year, and it is expected to grow at a CAGR greater than 6.3 percent during the forecast period.

Due to the COVID-19 pandemic, the market for self-adhesive labels in the region was negatively impacted. The implementation of the lockdown in the region led to supply chain constraints that significantly obstructed the industry's expansion. However, according to Mordor Intelligence, the market recovered in 2021 and is expected to grow significantly in the coming years.

The report indicates that, over the short term, significant factors driving the market are the growing e-commerce industry in the region and the increasing demand for packed goods from the food and beverage industries. On the flip side, the availability of substitute adhesive products is expected to hinder the growth.

Nevertheless, shifting focus toward bio-based self-adhesive labels will likely act as an opportunity for the market studied.

A big part of the report is focused on the increasing demand from the food and beverage industry, which is creating a significant demand for self-adhesive labels and contributing as the largest end-user industry for them in the region.

In Asia-Pacific, lifestyle changes, the growing disposable income of people, an increase in the number of working professionals and the growing preference for fast food are propelling the demand for packaged food, especially in countries such as China, India, and Japan.

A similar report, released recently by Global Technology Intellect, also forecasts substantial growth in the Asia-Pacific label market, indicating significant opportunities for market expansion.

The report states that technological advancements and shifting consumer preferences will fuel innovation and drive demand. Favorable regulatory landscapes and increasing awareness will further contribute to market growth. Market Research Intellect predicts a steady CAGR during this period, indicating a positive outlook for industry players. By capitalizing on emerging trends and adopting strategic approaches, companies can position themselves to thrive in this evolving market environment.

According to the report, the main growth drivers and opportunities in the regional label market include increasing demand for sustainable products and ongoing digital transformation.