The global labels market is expected to reach a value of US$63.7 billion by 2032, with an average compound annual growth rate (CAGR) of 4.8% between 2022 and 2032. By the end of 2022, the market is projected to increase from an estimated value of US$37.9 billion to US$39.8 billion.
The increasing demand for authenticity and safety in various industries is a major driver for the adoption of smart labels, which creates growth opportunities in the labels market. The need for smart labels is driven by the desire for enhanced product security and authentication across different verticals.
The packaging industry is undergoing a transformation due to advancements in technology, and this transformation is opening up new market prospects for the labels industry. One example is the growing use of RFID (Radio Frequency Identification) technology in label production, which has benefited the labels market.
RFID technology allows for scanning a wide range of data, reducing human error, lowering labor costs, and improving the durability of labels in harsh environments. The integration of RFID labels with smartphones enables direct package-to-smartphone connectivity, expanding the target market for these technologically advanced labels.
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As technology continues to play a significant role in the packaging industry, the labels industry is adapting to leverage new market opportunities. The adoption of RFID technology and the development of smart labels contribute to the growth and evolution of the labels market
“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.
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Major market players are focusing on product innovation and releases. These businesses are also employing expansion and acquisition strategies to gain a competitive advantage.
Key Questions Addressed by the Report
• What are the growth opportunities in the labels market?
• What are the major raw materials used for manufacturing labels market?
• What are the key factors affecting market dynamics?
• What are some of the significant challenges and restraints that the industry faces?
• Which are the key players operating in the market, and what initiatives have they undertaken over the past few years?
Regional Outlook
This section of the report provides key insights regarding various regions and the key players operating in each region. Economic, social, environmental, technological, and political factors have been taken into consideration while assessing the growth of the particular region/country. The readers will also get their hands on the revenue and sales data of each region and country for the period 2022-2032.
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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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