LONDON--(BUSINESS WIRE)--The global linerless labels market is expected to grow at a CAGR of more than 5% during the period 2017-2021, according to a new market research study by Technavio.
The report presents a detailed analysis of the global linerless labels market by end-user that comprises of food and beverages, retail, personal care, and pharmaceuticals. The report also determines the geographic breakdown of the market in terms of detailed analysis and impact, which includes key geographies such as APAC, the Americas, and EMEA.
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Market driver: growing counterfeiting market
Counterfeit products are fake replicas of the original products that are usually sold at lower prices than the original. Counterfeiting is a major concern as it endangers the health and safety of consumers. Apart from this, it also results in cost incurred by companies in terms of lost revenue and damage to brand reputation. Some of the popular sectors where counterfeiting of products is widespread are the pharmaceutical sector and the food sector. It is observed that counterfeiting is a major challenge for companies as it is difficult for consumers to distinguish a counterfeit products package from the original one.
According to Shakti Jakhar, a lead analyst at Technavio for tags and labels research, “To tackle the problem of counterfeiting, companies use labels to carry an extra set of information by adding a layer of security using technologies such as radio-frequency identification and quick response. Furthermore, a method such as cold foiling and the use of holograms is popularly adopted for easier detection of original products. This increase in the counterfeiting of products will increase the need for labels, thereby fostering the growth of the global linerless labels market.”
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Market trend: growing importance of labels
It has been noted that one of the first things that consumers notice while buying a product is the label. Therefore, it is important to have an attractive label to grab the attention of consumers. An attention-grabbing label that is appealing to the eye is expected to stand out in the intense competition in the market. For instance, most wine purchasers are confused as they move through the aisles of wines in the local wine shop, where there are various brands and types of wines on the shelf. In 2016, it was observed that in the US, more than 50% of the wine consumers' decision to buy was influenced by the label. Thus, companies in the linerless labels market are expected to innovate to make attractive linerless labels in a variety of shapes. Additionally, they are looking for ways to apply attractive colors or glossy finish on linerless labels.
Market challenge: rising cost of adhesives
Adhesive is one of the most important materials that is used for any kind of label. It is one of the significant factors that lead to the high cost incurred by companies. It is observed that the prices of the adhesive are increasing worldwide. For instance, in March 2017, H.B. Fuller, one of the leading adhesive companies, announced a price increase of more than 4% for its adhesives in North America. The company explained that the prices were increased because of the cost changes and supply constraints to feedstocks such as ethylene, methanol, butadiene, isoprene, and propylene that led to higher raw material cost.
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Key vendors in the market
- 3M
- Avery Dennison
- Constantia Flexibles
- Coveris
- RR Donnelley
- SATO
The global linerless labels market is highly fragmented. It has the presence of international vendors such as Coveris, and SATO and many regional vendors such as Hub Labels and Reflex Labels. Vendors in the global linerless labels market are acquiring other vendors to increase the geographical reach, expand the product portfolio, or to adopt new technologies and innovation in the market.
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