Labels Market Scenario:
The global labels market is projected to reach a value of US$ 63.7 Bn in 2032, with the market growing at an average CAGR of 4.8% over the forecast period of 2022 to 2032. Scaling up from a valuation of US$ 37.9 Bn, the labels market is predicted to reach US$ 39.8 Bn by the end of 2022. The need for safety and authenticity among various end-use industry verticals is expected to drive the demand for smart labels which in turn will create multiple growth opportunities for the labels market during the forecast period.
With advancing technology and its incorporation into the packaging industry at large, the labels market is also transforming itself and with this transformation new market opportunities are presenting them to the labels market. For instance, the rising popularity of RFID technology in the label industry is creating a positive impact on the market. RFID technology eliminates human errors and lessens employment costs, works without human interference, reads a long range of information and RFID labels are less sensitive to negative conditions. Additionally, these technologically enhanced labels enable direct package-to-smartphone communication which further propel the target market growth.
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According to FMI, the labels industry totaled US$ 39.8 billion in 2022. Sales of labels may propel, with the top 3 countries estimated to hold 25-30% of the global labels market by the end of 2023. The market is estimated to witness a positive growth outlook by the end of 2023.
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.
Competitive Landscape:
Pivotal label manufacturers strive to focus on innovative product launches, acquisitions, and expansions due to the increasing demand from the food, beverage, and pharmaceutical sectors. A few other label manufacturers are engaging in partnerships and collaborations to co-develop novel products and strengthen their presence in the market.
Essential Labels Manufacturers:
- 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.
- Resource Label Group, LLC
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From 2018 to 2022 Global Labels Demand Outlook Compared to Forecast From 2023 to 2033
The global labels market has drastically changed in the last few years. The market expanded at a CAGR of 4.5% during the historical period (2018 to 2022) and reached US$ 39.8 billion in 2022 from US$ 33.37 billion in 2018.
Driven by the increasing demand for food, beverages, and pharmaceuticals globally, the labels market is anticipated to advance at a 4.9% CAGR from 2023 to 2033. The right kind of labeling establishes and enhances brand awareness. It plays a significant role in attracting and retaining consumers. Labels are pieces of plastic, paper, or foil attached to the product and provide information about the same.
Rising demand for packaged perishable products is expected to augment sales of labels during the forecast period. The organized retail sector expansion is compelling the labels market. Retailers use labels to monitor the product’s longevity. Smart labels are useful for inventory tracking in the retail industry. They can easily detect inventory as stock-keeping units are followed in the retail chain.
The expansion of the e-commerce sector and rising digitization are projected to force the labels industry. Labeling is employed to identify the brands and protect products from counterfeiting. The labels market has witnessed steady growth in adoption due to reduced storage and freight costs. Linerless labels have environmental benefits that help reduce waste by lowering plastic consumption and augmenting demand.
Key Segments:
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
- Polyethylene (PE)
- Paper
- Foil
By Printing Technique:
- Flexographic Printing
- Digital Printing
- Gravure Printing
- Offset Printing
- Letterpress Printing
By Ink Type:
- Solvent Based
- Water Based
- UV Based
- Others (Latex Based, etc.)
By End Use:
- Food
- Bakery & Confectionery
- Dairy Products
- Baby Food
- Chilled/Frozen Food
- Others (Snacks, etc.)
- Beverages
- Alcoholic
- Non-Alcoholic
- Pharmaceutical
- Tablet/Capsules
- Cream & Ointment
- Liquid Syrup
- Others
- Cosmetics & Personal Care
- Homecare & Toiletries
- Chemicals
- Automobiles
- Other Consumer Durables
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Middle East and Africa
- Oceania
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Related Reports:
Pressure Sensitive Tapes and Labels Market
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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