The healthcare and food and beverage industries are integral to both human and animal lives which encompasses a variety of strategic investments that not only aid market players to cater to the needs which both industries are known to address but also assist them to engage in cross border trade to facilitate business expansions as well as integrate components which not only has the potential to minimize the cost of overall operation through various means. Before the nitty-gritty are delved into it is important to reiterate the importance of the packaging industry since its plays a vital role in not only upholding the integrity of the product that is contained within but also, in part, facilitate the re-attestation with the degree of the overall quality adhered to by market players and ultimately adds to the organizations’ brand equity which has a vital contribution towards a particular markets growth trajectory, irrespective of the industry.
World Fish and Seafood Projections (Consumption for Food)
In view of the above, it is pertinent to note that according to estimates by Knowledge Sourcing Intelligence the paper packaging market is expected to grow at a CAGR of 3.12% from a value of US$231.452 billion that has been estimated for 2017 to reach a total market size of US$278.222 billion in 2023. The escalating concerns regarding plastic-based packaging have given rise to increasing investment in environmentally friendly solutions like that of paper packaging across a diverse set of industry verticals. Further, the seafood packaging market which due to factors like changing dietary preferences, increasing demand for livestock products, growing population especially that of Asia which has been depicted below, and the transitioning of livestock farming to a relatively more industrialized nature, among others has been forecasted by Knowledge Sourcing Intelligence to at a CAGR of 4.02 % from a value of US$19.829 billion that has been estimated for 2019 to reach a total market size of US$25.119 in 2025. Additionally due to similar driving factors mentioned above along with the upswing in more healthy consumption, and increasing inclination by the F&B establishments across the world to serve food preparations with fresh and exotic ingredients, the market of fresh food packaging is also worth a mention and its has been forecasted by Knowledge Sourcing Intelligence to grow at a CAGR of 4.25% from a value US$84.562 billion that has been estimated for 2019 to reach a total market size of US$108.545 billion in 2025. Also, the global luxury packaging market which due to factors like the growing preference for personalized packaging with aesthetics as the governing factor along with rising availability of disposable income among the population of the emerging economies as well as newly industrialized countries, increase in domestic players engaged in manufacturing and selling a variety of luxury products, among others are has been forecasted by Knowledge Sourcing Intelligence to at a CAGR of 3.83% from a value US$14.593 billion that has been estimated for 2018 to reach a total market size of US$18.284 billion in 2024.
Asia, Total Population at Mid-Year Estimates
Total population (thousands)
Thus, revisiting the factors mentioned above, when it comes to minimizing of overall operational cost linerless labels addresses this address this need by enabling market players to purchase more quantity of labels because linerless allows for more labels to be available in rolls as compared to its non-linerless counterparts concomitantly resulting in the reduction of freight cost due to the considerable reduction in weight. Secondly, when it comes to the paper packaging market, its growth is suggestive of the positive outlook of Linerless Labels Market because one of the main rationales which are anticipated to drive the growth of the former is also in part a contributory cause of the latter’s growth which is the adoption of the environmentally friendly solutions. Since linerless labels are devoid of liners it reduces the creation of waste invariably making it an environment-friendly alternative which is also expected to cater to the ambitions of various market players to transform their operations into an eco-friendly one. Further, this environmentally friendly aspect is also complementary to the growth of the global luxury packaging market and is potentially symbiotic because consumers of luxury products are increasingly embracing the concept of responsible luxury which as mentioned above, is echoed by the inclusion of linerless labels. Another aspect which is reflective of the growth of this market is the forecasted upward trajectory of the fresh food packaging market and seafood packaging market, that has been mentioned above which suggests that food and beverage, among others, is poised to occupy a lion’s share in the linerless labels market which in turn would aid in propelling the growth of the market. This buttressed by another advantage extended by the release coating which is an integral component of linerless labels is that its acts as a barrier coating that keeps the labels from being affected by chemicals and other elements thereby extending their life thereby facilitating the dissemination of information pertaining to food and beverage which is mandated by several national governments, among others.
The segment of food and beverage is expected to hold a significant share of the market facilitating the consequential forecasted growth of the market
According to USDA the Hotel, Restaurant, and Institutional (HRI) sector of China is the 2nd largest in the world, which as of 2019 reportedly registered a revenue of $687 billion in sales which is an increase by 9% from 2018. Further, the HRI sectors which are already popular in Beijing, Guangzhou, Shanghai, and Shenzhen is undergoing rapid development in Tier 2 and Tier 3 cities, which coupled with growing disposable income and rapid urbanization is poised to attain stratospheric heights. Another aspect which is concerned with trade, is the heavy reliance on imports of food products by Japan to cater to the domestic demand which is substantiated by Japan’s Ministry of Agriculture, Forestry and Fisheries (MAFF) annual report wherein Japan’s food self-sufficiency ratio, on a caloric basis was 38% as of 2017 which is suggestive of the fact that more than 60 % of Japan’s caloric intake is derived from imports.