wet glue labels market was valued at $8.4 billion in 2021, and is projected to reach $16.1 billion by 2031, growing at a CAGR of 6.8% from 2022 to 2031
WILMINGTON, DELAWARE , UNITED STATES, March 14, 2024 /EINPresswire.com/ — According to the report published by Allied Market Research, the global wet glue labels market generated $8.4 billion in 2021, and is estimated to reach $16.1 billion by 2031, witnessing a CAGR of 6.8% from 2022 to 2031.
The report is a helpful source of information for leading market players, new entrants, investors, and stakeholders in devising strategies for the future and taking steps to strengthen their position in the market. Leading players of the global wet glue labels market analyzed in the research include Alfa Aesar, BASF SE, Gallochem Co. Ltd., Haihang Industry Co., Ltd., Impextraco NV, Kemin Industries, Leshan Sanjiang Biological Technology Co. Ltd., Merck KGaA, and Minakem SAS.
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The report analyzes these key players of the global wet glue labels market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments by every market player.
Key findings of the study:
By material type, paper resin segment is holds highest growth rate, in terms of revenue, registering a CAGR of 6.9% from 2022 to 2031.
By end-use industry, the food & beverage end user industry segment is estimated to display the highest growth rate, in terms of revenue, registering a CAGR of 7.1% from 2022 to 2031.
By region, Asia-Pacific garnered the highest share of 43% in 2021, in terms of revenue, growing at a CAGR of 7.7%.
The report offers a detailed segmentation of the global wet glue labels market based on material type, end-use industry, and region. The report provides an analysis of each segment and sub-segment with the help of tables and figures. This analysis helps market players, investors, and new entrants in determining the sub-segments to be tapped on to achieve growth in the coming years.
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Based on material type, the paper segment was the largest market in 2021, contributing to three-fifths of the global wet glue labels market share, and is likely to maintain its leadership status during the forecast period. Moreover, the same segment is expected to manifest the highest CAGR of 6.9% from 2022 to 2031. The report also studies the plastic resin segment.
Based on end-use industry, the food and beverage segment was the largest market in 2021, contributing to nearly three-fifths of the global wet glue labels market share and would maintain its leadership status through the forecast period. The same segment is expected to manifest the fastest CAGR of 7.1% during the forecast period. The report also includes other segments such as personal care, food & beverage, homecare, pharmaceuticals, and others.
Based on region, Asia-Pacific held the largest share in 2021, accounting for more than two-fifths of the global wet glue labels industry share and is likely to lead the trail during the forecast period. Moreover, the same segment is projected to portray the fastest CAGR of 7.7% during the forecast period. The research also analyzes regions such as North America, Europe, and LAMEA.
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