Label is used to provide information about a product. It is referred to a display information in form of written, electronic, or graphic communication on the product package. It also helps to market the product enabling customers to know about the item and give essential messages such as ingredients, instructions, and uses. They provide information about how to handle a product or how to dispose of it. Label is also used for security reasons so that a product should not be misused. Therefore, labels come with logo or the trademark of the company. A label needs to fulfil with the Competition and Consumer Act 2010 (CCA). According to the Act it is mandatory to deliver information to consumers, such as: the mandatory consumer product information standards under the CCA, industry specific regulations, such as the Food Standards Code and Labels required by customs for some imported products under the Commerce (Trade Descriptions) Act.
Increasing Number of Retail Chains Is Expected to Drive Growth of the Global Labels Market
Factors such as growing number of large retail chains which demands need for differentiation of products and increasing e-commerce such as online shopping is a are driving the growth of the label market. Businesses such as logistics & supply chain, and essential government regulations that mandates providing basic information such as characteristics, health/safety and nutrition on the product are other factors expected to fuel growth of the global labels market over the forecast period. Moreover, increasing adoption for labels in various sectors is the ongoing trend observed, which is expected to support market growth in the near future. The market players are engaged in developing more convenient solutions for labels, coupled with rising trend of adhesive technology that uses breakthrough formulation ensures clarity. Clean labelling and transparency enables consumers to learn about the ingredients in the products which can be a potential opportunity for market players over the forecast period.
The global labels market report has been segmented on the basis of type, material, end use and region. On the basis of region, the global labels market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
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The North America market dominates the global labels market in terms of revenue. The market in Asia Pacific is projected to have fastest growth with highest CAGR, owing economic development which is expected to boost growth of the global labels market.
Key players in the global labels market include Avery Dennison Corporation, Lintec Corporation, Bemis Company, Inc., UPM Raflatac, 3M Company, CCL Industries, Inc., WS Packaging Group, Inc., Herma Gmbh, Fuji Seal International, Inc. and Brady Worldwide, Inc.