On the back of superior abrasion resistance and lasting shelf-life when compared with paper labels, BOPP labels have been garnering investments from stakeholders in the market. Majorly buoyed by their extensive application in F&B industry sectors, demand for BOPP labels will expand 1.8X of the current market value through the end of forecast period, 2020 – 2030.
Moreover, availability of printing surface, compatibility with a range of modern printing technologies, and aesthetically pleasant features of BOPP labels will continue to uplift their adoption rate in the near future. A recent Persistence Market Research (PMR) study suggests that demand for pressure sensitive labels and wet glue labels is particularly on the rise over the recent past.
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Key Takeaways of BOPP for Labels Market Study
- Pressure sensitive labels continue to hold more than 3/5th share in total market value, as they are preferred as a convenient and straightforward labelling solution.
- Flexographic printing remains a highly preferred technology among packaging and end-use companies. However, there are strong indications of digital printing technology emerging stronger over the next decade.
- End users have more demand for 20 to 40 micron BOPP labels for their products, which would create maximum incremental revenue opportunity during the forecast period.
- Europe will continue to retain the leading position in global BOPP for labels market. Rapid expansion of F&B sectors across fast developing Asian economies such as India and China point to flourishing market prospects in South and East Asian regions.
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Competition Landscape Analysis
The global BOPP for labels market is highly competitive and is characterized by strong presence of a large number of unorganized local players that are eying significant growth opportunities at regional levels. Some of the key players in BOPP for labels market that are covered in report, include CCL Industries Inc., Avery Dennison Corporation, Fuji Seal International, Inc., Huhtamäki Oyj., 3M Company, Walle Corporation, Anchor Printing, Traco Manufacturing, Inc., and Fort Dearborn Company.
Key market players focus on product innovation and acquisitions with an aim to increase their global presence and customer base in the global BOPP for labels market. For Instance, recently in 2020, Avery Dennison Corporation acquired Smartac (RFID Inlay) Division for Euro 225 Million. This acquisition reflects a continuation of company strategy to invest, both organically and through M&A. Earlier in 2019, Coveris targets growth in the BOPP labelled beverages market which is supported by continued investment at its manufacturing facility in the UK.
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