Thermochromic Label Market: Rising Demand from Beverage Industry Propelling Sales

The thermochromic labels market is anticipated to thrive at a healthy CAGR of 6.3% between 2023 and 2033. The market is expected to have a market share of US$ 781.14 million by 2033 while it is likely to be valued at US$ 424.03 million in 2023.

Innovation is likely to be a critical success factor in the thermochromic labels industry, especially due to the usage of advanced labeling technology in the food and beverage sector.

One of the key factors boosting the growth of the thermochromic labels market is the increasing usage of thermochromic labels in consumer products such as alcoholic and non-alcoholic beverage cans and bottles. These smart labels change color when in contact with the desired set temperature. This is usually used to determine and indicate the appropriate temperature for consumption. For instance,

In June 2022, the beverage company Molson Coors introduced limited-edition drinks that use thermochromic ink to make the graphics on the packaging change color when the drink is cold enough. Furthermore, these labels are also used for promotional and marketing purposes.

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Key Takeaways

1. The United States market leads North America’s thermochromic labels market in terms of market share in North America. The United States held a leading market share in 2022. The factors attributed to the rising demand from multiple industries, new businesses entering the market, and advanced packaging operations.
2. Germany’s thermochromic labels market held a healthy market share of 20% of Europe in 2022. The market growth is caused by increased automotive manufacturing
3. India’s market thrives at a healthy CAGR between 2023 and 2033. The growth is attributed to the new packaging trends in the market along with the high sales of packaged beverages. The market held a revenue of US$ 27.5 million in 2022.
4. China thrives at an emerging growth rate between 2023 and 2033 due to the sales of increased drug production.
5. Based on type, the irreversible segment held the leading market share of 80% in 2022. The reversible segment thrives at a CAGR of 7.9% between 2023 and 2033.
6. Based on end use, the food and beverages segment leads the market.

Competitive Scenario

The key suppliers focus on application-specific thermochromic labels. The competitors merge, acquire, and partner with other companies to increase their supply chain and distribution channel.

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Market Innovations

• Avery Dennison Corporation has introduced recyclable labels such as DT linerless, Z2010 adhesive technology, and AD Cleanflake technology.
• Chromatic Technologies Inc. (CTI) has launched its temperature
  activation Thermochromics packaging options with color-changing inks and labels.

Key Segments Covered

By Label Type:

• Reversible
• Irreversible

By End Use:

• Pharmaceuticals
• Food & Beverages
• Cosmetics & Personal Care
• Media & Entertainment
• Automotive
• Other Manufacturing (Aerospace, etc.)

Key Regions Covered:

• North America
  • The United States
  • Canada
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Europe
  • Germany
  • The United Kingdom
  • France
  • Spain
  • Russia
  • Rest of Europe
• Japan
• Asia Pacific Excluding Japan
  • China
  • India
  • Malaysia
  • Singapore
  • Australia
  • Rest of Asia Pacific Excluding Japan (APEJ)
• The Middle East and Africa
  • GCC Countries
  • Israel
  • South Africa
  • The Middle East and Africa (MEA)

About Future Market Insights Inc. (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 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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