Global label usage is growing at a rate of 5 to 8% per year. From the growth of the entire international label market, the growth rate of developed countries' markets is gradually slowing down, according to the growth of regional labels:
4 to 5% in North America and 5 to 6% in Western Europe;
The market growth rate in developing countries is rising rapidly;
For example, China 15~20%, India 12~18%, Eastern Europe 12~15%, South America (excluding Mexico) 8~10%, Asia Pacific (excluding China) 12~15%.
With more than 25,000 label manufacturers worldwide, sales in the label market reached a forecast of $65 billion in 2006 and will reach $73 billion in 2007. In 2010, Asia will account for 37% of total international label consumption. New label products are growing very fast, such as shrink film labels and in-mold labels, all with growth rates above 10%. China's annual growth rate is far higher than the national economy's average growth rate of 7 to 9%. This rapid growth is encouraging.