The global labels market is projected to grow at an average compound annual growth rate (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 approximately US$ 39.8 billion, growing from its estimated value of US$ 37.9 billion.
The demand for smart labels is expected to be a key driver in various end-use industry verticals, fueled by the need for authenticity and safety. This demand is anticipated to create several growth opportunities for the labels market throughout the forecast period.
Advancements in technology and its integration into the packaging industry are driving changes in the market, presenting new prospects for the labeling industry. The increasing utilization of RFID (Radio Frequency Identification) technology in label manufacturing is one example of this trend.
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RFID technology allows for the scanning of a wide range of data, reducing human error, lowering labor costs, and enhancing the resilience of labels in adverse conditions. The incorporation of RFID technology enables direct package-to-smartphone connections, expanding the potential target market.
The evolution of the labeling industry is closely tied to technological advancements and their increased adoption in the packaging sector. The utilization of RFID technology offers advantages over traditional labels, leading to improved data scanning capabilities, cost savings, reduced errors, and increased resilience. Additionally, the ability of technologically advanced labels to establish direct connections with smartphones expands the market reach.
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“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.
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.
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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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