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HomeBusinessLabel and release liner market to grow by $8.6 billion over next five years: Smithers

Label and release liner market to grow by $8.6 billion over next five years: Smithers

25 August 2021: World demand for labels and shrink sleeve materials will be worth $41.59 billion in 2021, as the segment recovers from the unprecedented disruption of 2020. In a year blighted by COVID, world value fell by -0.6%. As a degree of economic stability returns Smithers forecasts this market is set to grow at a steady compound annual growth rate (CAGR) of 3.0% for 2021-2026, creating a market worth $48.32 billion in 2026.

This insight is drawn from Smithers new dedicated study of this market “The Future of Label and Release Liner Markets to 2026” which charts the evolution in label substrates post-COVID and through to 2026. Published recently it finds that this will see the total surface area of label media rise from 72.21 billion metres square in 2021, to 87.20 billion metres square in 2026.

Around 90% of labels are used with consumer products, with the remaining 10% used in industrial, commercial and logistics applications. Both have been shaped by the experience of COVID-19. For consumer sales the greater use of e-commerce has improved sales of tracking and logistics labels. This has not compensated for the impact of an overall fall in retail sales, which has especially affected labels for non-essential segments, such as personal care and luxury goods.

As the market recovers there will be shifts in the use of label and release liner stocks use. Of the six label formats covered in the report (pressure-sensitive, wet glue, pre-gummed, in-mould labels, shrink sleeves, stretch sleeves) pressure-sensitive adhesive labels will continued to dominate, rising to 64% of the market by value in 2026. Wet glued labels and plastic heat shrink film labels will account for about 15%, each; shrink and stretch sleeves will also see accelerated growth through to 2026.

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