Labeling, product-decoration markets show a positive outlook for 2024, says new AWA report
Labeling and product decoration is critical to the global packaging industry, combining the essential
information to identify a product with the sales enhancement properties of branding and
on-shelf visibility.
The state of the market is documented in the newly-published 18th edition of AWA Labeling
and Product Decoration Market Report 2024. It explores all the different facets of the
subject across the main labeling formats – pressure-sensitive, glue-applied, sleeving, in-
mold labels – and their supply-chain characteristics.
In 2023, AWA estimated that the global label market approached 70.670 billion sq meters (sqm), showing a decline of 2.7% compared to the prior year. This decline was
primarily driven by the sharp decline in the pressure-sensitive and glue-applied label
markets due in large part by an exaggerate period of de-stocking, particularly in Europe and
North America. These figures encompass all label and product decoration technologies.
Specifically, 38% of this volume consists of pressure-sensitive labels, 35% of glue-applied
labels, and 20% of sleeve labeling technologies (above).
Despite erratic market behavior, some labeling formats continued their growth in 2023, a
variance that could be attributed to their degree of application in certain end-use segments
and their performance. Nonetheless, with some market shifts and dynamics, there is an
optimistic outlook on the horizon.
Regional profiles
Despite being lower than the growth rates of previous years, the regional growth rate in
Asia continues to be higher than the global growth rate in 2023. Particularly in the case of
China, with a deepening property crisis, mounting deflationary risks, and tepid demand,
increasing headwinds over 2023. Asia continues to claim the largest market share, 49%
of the total; Europe, a 22% share; North America, with a 17% share; South America, 8%;
and Africa and the Middle East, 4%.
Regular updates on aspects of the labeling and packaging market by AWA are available on
the company’s website, where the "Global Annual Review Labeling & Product Decoration"
can be ordered online.