April 24 (Reuters) - Avery Dennison beat first-quarter profit estimates on Wednesday, benefiting from strong demand for its labeling and packaging products as clients reduced their pandemic inventories.

The company indicated in January that its customers were nearly through with reducing stocks held in the pandemic years. With the trend moderating, the firm saw higher demand for its products, particularly in its solutions segment that manufactures brand tags and labels.

"In the first quarter, we delivered significant earnings growth, driven by higher volume and productivity gains," CEO Deon Stander said in a statement.

The Ohio-based company reported adjusted earnings per share of $2.29, up 35% from last year and above analysts' estimate of $2.15 per share, according to LSEG data. Its overall revenue rose 2% to $2.2 billion, slightly above analysts' average estimate of $2.15 billion.

Shares of the company were flat in premarket trading. (Reporting by Ananta Agarwal in Bengaluru; Editing by Pooja Desai)