Smart Labels Industry: Factors Driving Rapid Growth in the USA and India, Attain A Valuation Of US$ 24.8 Billion By 2030 With CAGR Of 11.2% | FMI Reports

The smart labels market witnessed remarkable growth in 2022, reaching a valuation of approximately US$ 9.5 Billion and recording a noteworthy year-on-year growth of 9.6%. Projections indicate a robust CAGR of 11.2%, propelling sales to a staggering US$ 24.8 Billion by the year 2030.

The USA’s smart labels market is experiencing rapid growth due to several key factors. The increasing popularity of retail stores and supermarkets is a driving force behind the market expansion in the country. Stricter legislation regarding product information transparency is anticipated to boost the demand for intelligent labels as businesses seek to comply with transparency requirements.

Moreover, American businesses are making significant investments in technology that enhances transparency throughout their distribution networks. Technologies like blockchain and smart labels are gaining prominence, allowing companies to achieve better transparency and traceability in their operations.

In India, the smart labels market is flourishing for various reasons. The nation is becoming one of the most lucrative markets, driven by the thriving e-commerce and organized retail sector. With the organized retail industry experiencing robust growth over the past decade, it has created substantial opportunities for RFID label manufacturers to tap into this burgeoning market. Additionally, India benefits from lower labor costs compared to many other countries, making it an attractive hub for smart label production. The growing demand for perishable goods and the focus on reducing food wastage, coupled with advancements in the pharmaceutical industry, are further propelling the demand for RFID labels in India.

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The Major Key Players Are:

• Honeywell International Inc.
• Avery Denison Corporation
• CCL Industries Inc.
• Zebra Technologies Corporation
• SATO Holdings Corporation
• Checkpoint Systems Inc.
• Thin Film Electronics ASA
• others

Competitive Landscape

Market players are focusing on expanding their global outreach through diversification of product portfolios, collaborations, product launches, and doling out customized labeling solutions for various industries.

For instance,

• In September 2020, Avery Dennison Corporation introduced a completely biodegradable tag fastener for the apparel industry. The tag is highly eco-friendly, being able to decompose upon exposure to soil microbes and leaving behind no microplastics or other harmful substances.
• In November 2020, CCL Industries Inc., a leading player in the smart labels industry, announced the acquisition of Super Enterprises Printing (Malaysia) Sdn, a leading supplier of decorative panels, liquid crystal & touch screen display covers, and in-mold decorated components for the consumer electronics and automotive sectors across Asia.

The Benefits of Embracing Smart Labels

Embracing the Smart Labels Market offers a plethora of benefits that extend beyond traditional labeling methods. Some of the notable advantages include:

• Enhanced Transparency: Smart Labels provide real-time information about the product’s journey, origin, and handling, fostering transparency and trust among consumers.
• Improved Inventory Management: Businesses can optimize inventory levels, reduce stockouts, and streamline reordering processes with accurate real-time data.
• Efficient Recall Management: In case of product recalls, Smart Labels enable targeted recall efforts, minimizing the impact on consumers and reducing waste.
• Counterfeit Prevention: Smart Labels incorporate anti-counterfeiting measures, safeguarding brands and consumers from fraudulent products.