The global labels market size is set to reach a valuation of US$ 39.8 Bn in 2022, and further accelerate at a CAGR of 4.8% from 2022-2032. The market is projected to reach US$ 63.7 Bn by the end of 2032. Sales of labels are anticipated to augment with the top 5 players holding 10-15% of the global labels market share in 2021.
Based on product type, the pressure sensitive labels (PSL) segment is projected to hold a major portion of the global labels market during the forecast period. These labels can withstand and maintain their integrity in different environmental conditions and are easy to apply. The segment is thus anticipated to hold around 3/4th portion of the market by the end of the forecast period.
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According to FMI, the labels market totaled US$ 37.9 Bn in 2021. Sales of labels will propel with the top 3 countries estimated to hold 25-30% of the global labels market by the end of 2022. The market is estimated to witness a positive growth outlook by the end of 2022.
The need for better safety and authenticity among end-use industries is anticipated to bolster the demand for Smart labels, which would further create new growth opportunities in the global labels market. Thus, the labels market is projected to grow 1.7 times the current value during 2022-2032.
The North America and Europe regions are anticipated to showcase high demand for labels due to implementation of strict regulations by government bodies associated with packaging and labeling of various end-use products. Rapid expansion of the food & beverage and pharmaceutical industries in these regions would also fuel growth.
The global labels market has seen a drastic change in the last few years. The market expanded at a CAGR of 4.4% during the historical period (2015-2021) and reached US$ 37.9 Bn in 2021 from US$ 29.3 Bn in 2015.
Driven by the increasing demand for food, beverages, and pharmaceuticals across the globe, the labels market is anticipated to rise at a 4.8% CAGR from 2022 to 2032. The right kind of labeling establishes and enhances brand awareness. It also plays a significant role in attracting and retaining consumers. Labels are a piece of plastic, paper, or foil that is attached to the product and provide information about the same.
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Rising demand for packaged perishable products is expected to augment sales of labels during the forecast period. The labels market is also being driven by expansion of the organized retail sector. 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.
Moreover, expansion of the e-commerce sector and rising digitization are projected to drive the labels market. Labeling is employed not only to identify the brands but also to protect products from counterfeiting. The labels market has witnessed steady growth in terms of adoption due to reduced costs of storage and freight. Linerless labels have environmental benefits that help reduce waste by lowering plastic consumption, thereby boosting demand.
- Emergence of RFID Technology Worldwide
The RFID technology is gaining traction among label manufacturers as it reduces employment costs and eliminates human errors. It works without human intervention and can read a long range of information. Moreover, acceptance of this technology is increasing owing to its ability to identify, which is crucial in the retail sector. RFID labels are less sensitive to adverse conditions, which would further propel their usage in the labels market.
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Furthermore, these labels assist in synchronizing the process of repairing and inventory control for enterprises & maintaining the true authenticity of products. Emergence of newer technologies such as NFC and sensing labels is also providing a newer experience to end users. These advanced labels are offering direct package-to-smartphone communication, which would further pave the way for more capable and streamlined use of self-adhesive labeling and packaging.
- Availability of Sustainable Self-adhesive Labels
Rising demand for sustainable products and various government & non-government initiatives revolving around the use of sustainable products would create new growth opportunities for the sustainable labels market. Key players operating in the market are offering sustainable labels to cater to the growing demand for the same.
For instance, Avery Dennison Corporation offers a label that is made from recycled PP. The company’s recycled PP is produced from 30% pre-consumer waste. Also, it offers a multicycle label that is an ultra-permanent self-adhesive label for beverage packaging with withstand power of up to 30 product life cycles. Besides, the company has partnered with Romei Replastic to convert labeling waste into new raw materials to help customers find the right recycling solution for labels.
Growing focus on sustainability is rapidly shifting the packaging and labeling industry. Availability of compostable self-adhesive materials would drive the target market. HERMA offers compostable self-adhesive raw materials for biodegradable labels. Overall, key players are projected to adopt the sustainability trend and offer sustainable self-adhesive labels to strengthen their positions in the market.
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