The global labels market is projected to witness a steady growth with an average CAGR of 4.8% between 2022 and 2032, reaching a value of US$63.7 billion. By the end of 2022, the market is expected to reach US$39.8 billion, growing from its current estimated value of US$37.9 billion.
The increasing demand for smart labels driven by the need for authenticity and safety across various industry verticals will create significant growth opportunities for the labels market during the forecast period.
The packaging industry is undergoing transformation due to advancements in technology, which presents new market prospects for the labeling industry. One such advancement is the growing adoption of RFID (Radio Frequency Identification) technology in label manufacturing. RFID technology allows for the scanning of a wide range of data, eliminating human errors, reducing labor costs, and providing labels that are more resilient in adverse conditions. The integration of these technologically advanced labels with smartphones enables a direct package-to-smartphone connection, expanding the target market for such labels.
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As technology continues to advance and its utilization increases in the packaging sector, the labeling industry is evolving and encountering new market opportunities. RFID technology is revolutionizing the industry by offering enhanced capabilities compared to traditional labels. These advancements enable improved data scanning, eliminate human intervention, reduce costs, minimize errors, and enhance performance in unfavorable conditions. Furthermore, the direct package-to-smartphone connection facilitated by these labels broadens their application and market potential.
Overall, the labels market is poised for steady growth as the demand for smart labels increases, driven by the need for authentication and safety. The incorporation of advanced technologies, particularly RFID, in label manufacturing is reshaping the industry and creating promising opportunities for market expansion.
“Growing availability of smart, sustainable, and self-adhesive labels is expected to boost the market growth of labels over the forecast period,” says an FMI analyst.
Key Takeaways:
- Expanding e-commerce and growing digitization to strengthen market prospects.
- The U.S. is expected to account for about 83% of the overall sales in North America.
- The label market in India is predicted to register a robust 8.8% CAGR.
- In 2022, the sensitive labels segment will account for 73% of the market share.
- By end use, food segment will grow at a 3.2% CAGR during the forecast period.
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Competitive Landscape
CCL Industries Inc., Avery Dennison Corporation, Fuji Seal International, Inc., Huhtamäki Oyj, Amcor plc, Coveris Holding S.A., Multi-Color Corporation, Honeywell International Inc., 3M Company, Klöckner Pentaplast Europe GmbH & Co KG, Anchor Printing, Derksen Company, Traco Manufacturing, Inc., and Resource Label Group, LLC among others are some of the major players in the labels market that are profiled in the full version of the report.
Major market players are focusing on product innovation and releases. These businesses are also employing expansion and acquisition strategies to gain a competitive advantage.
Key Players:
- CCL Industries Inc.
- Avery Dennison Corporation
- Fuji Seal International, Inc.
- Huhtamäki Oyj
- Amcor plc
- Coveris Holding S.A.
- Multi-Color Corporation
- Honeywell International Inc.
- 3M Company
Labels Market Outlook by Category
By Product Type:
- Pressure Sensitive Labels
- Shrink Labels
- Stretch Labels
- Wet Glue Labels
- Others (In-mold, Pre-gummed, etc.)
By Material Type:
- Plastic
- Polyethylene (PE)
- LDPE
- HDPE
- LLDPE
- Polypropylene (PP)
- Polyethylene Terephthalate (PET)
- Others
- Paper
- Foil
By Printing Technique:
- Flexographic Printing
- Digital Printing
- Gravure Printing
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