According to a recently published market study by ESOMAR-certified Future Market Insights, the global label printing software market is expected to secure a market value of US$ 585 Million in 2022. The industry is further expected to record a CAGR of 4.6% from 2022 to 2032, reaching US$ 918.5 Million.
The industry is further expected to generate a dollar opportunity worth US$ 333.5 Million throughout the coming decade. This fast-paced development of the label printing software market is likely to result in increased demand for advanced printing technology.
Increasing demand for lessening the weight of product packaging is projected to benefit the market during the forecast period. For example, Nestle Waters North America reduced the size of their bottle labels by 35%. It helped in an annual saving of about 30,000 metric tons of plastic and 4,500 tons of paper.
Growing concerns about the environment have generated a considerable need for eco-friendly methods. Avery Dennison’s CleanFlake, a water-based fully recyclable adhesive, provides a unique solution that allows eradicating label and adhesive during the sink-float process completely from the granules, leaving pure PET flakes.
Acquisitions among players have also boosted the market growth. In April 2022, Fortis Solutions, a high-impact printed packaging solutions provider, announced the acquisition of the Canadian company Profecta Labels. Profecta Labels provides flexographic and digital solutions for labels and flexible packaging printing.
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Regionally, the U.S is anticipated to lead the market. Growing deployment of NFC tags in the food and beverage market is another salient cause augmenting the market size in the forecast period.
Heinz, an American food processing company, uses an AR-based application to allow users to access secret recipe books by obtaining the smart label printed on the product through smartphones. APAC, on the other hand, is projected to be the most lucrative market. Growth can be attributed to the presence of developing countries, rapid urbanization, and the increasing popularity of e-commerce.
Key Takeaways from the Market Study
- Global label printing software market to surge 1.6x from 2022 to 2032
- S market for label printing software to secure US$ 316.7 Million by 2032
- By deployment, cloud-based label printing software is expected to lead the market, recording a CAGR of 4.2%
- By application, large enterprises projected to exhibit a CAGR of 4.5% during the forecast period
- Market in China is expected to display a CAGR of 3.8% in the forecast period
- K is anticipated to secure a market value worth US$ 39.8 Million by 2032
“Increasing popularity of eco-friendly methods and emergence of IoT, machine learning in the printing sector is projected to support the market growth in the forecast period,” remarks an FMI analyst.
Competition Analysis
Key players in the market include Zebra Technologies Corporation, Endicia , Online Labels, Seagull Scientific, and Loftware, Inc. Key developments in the industry are:
- In March 2021, Fort Dearborn, a US-based supplier of high-impact decorative labels for food, beverage, and others, announced the acquisition of Hammer Packaging Corporation. It will help Fort Dearborn in enhancing its position in the decorative label and packaging marketplace by augmenting the company’s geographic footprint, capabilities, and capacity.
- In February 2021, Mondi Group, a UK-based multinational packaging, and paper group, rolled out two new paper-based sustainable EverLiner products called, EverLiner M R and EverLiner Labelite. They have been created using recycles and lightweight materials.
- In April 2021, Neenah Inc., a US-based manufacturer of specialty materials, achieved nine verified U.S Department of Agriculture (USDA) Certified Biobased Products in its durable label solutions lineup, which affirms its commitment to sustainability efforts.
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More Valuable Insights
Future Market Insights, in its new offering, presents an unbiased analysis of the global label printing software market, presenting a historical analysis from 2015 to 2021 and forecast statistics for the period of 2022-2032.
The study reveals essential insights on the basis of by Application (Large Enterprises, SMEs), Deployment (On-Premises, Cloud-Based) & Region (North America, Europe, Asia Pacific, Middle East & Africa, and Latin America)
What Are The Restraining Factors In The Global Label Printing Software Market?
The high cost of devices in label printing is expected to hamper the market growth during the forecast period. Also, lack of investments in the industry is projected to be another cause hampering the market in the assessment tenure.
However, the emergence of innovative eco-friendly ideas and rapid digitalization are expected to act as a significant counter to the hampering cause which can boost the market growth during the forecast period.
Key Segments Profiled In The Label Printing Software Market Report
Global Label Printing Software Market by Application:
- Global Label Printing Software for Large Enterprises
- Global Label Printing Software for SMEs
Global Label Printing Software Market by Deployment:
- On-premises Global Label Printing Software
- Cloud-based Global Label Printing Software
Global Label Printing Software Market by Region:
- Global Label Printing Software Market in North America
- Global Label Printing Software Market in Europe
- Global Label Printing Software Market in Asia Pacific
- Global Label Printing Software Market in Middle East and Africa
- Global Label Printing Software Market in Latin America
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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