Drinks dominate growing global labels market
According to new Smithers Pira research, global label consumption is continuing to rise with sales set to hit $39 billion in 2018. Growth rates will continue to blossom, growing 4.0% annually over the next five years climbing to a $47.54 billion valuation in 2023. Asia is the largest market with a 47.0% share, and the fastest-growing in 2017. North America is the second largest region with a 20.0% share, followed by Western Europe with a share of 18.5%.
Alcoholic drinks is the largest end-use market, accounting for a 28.7% share in 2017. Soft drinks is the second largest end use sector accounting for 21.6%, followed by food and dairy with 15.7% (Press Release Smithers Pira, 16 May 2018).
Click here for the press release.
Click here for more information about the report.
This news item is also included in our monthly overview, the NVC Members-only Update. If you have any questions, please contact us: firstname.lastname@example.org, +31-(0)182-512411.