The global labels market is on track to achieve significant growth, with projections indicating a valuation of US$ 41.75 billion in 2023 and a Compound Annual Growth Rate (CAGR) of 4.9% from 2023 to 2033. By the end of 2033, the market is expected to reach a staggering US$ 67.36 billion. Key factors driving this growth include the dominance of pressure-sensitive labels (PSL) and the rising demand for smart labels.
Pressure-sensitive labels (PSL) are anticipated to hold a major portion of the global labels industry throughout the forecast period. With the ability to withstand various environmental conditions while maintaining integrity, PSLs are favored for their ease of application. By the end of the forecast period, the PSL segment is projected to hold around three-quarters of the market share.
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Smart Labels Spark Growth with Enhanced Functionality
The increasing need for safety and product authentication across various industries is fueling demand for smart labels. These labels, equipped with advanced technologies like RFID, are creating exciting new growth opportunities within the global market. The overall labels market is projected to grow by 1.7 times its current value between 2023 and 2033, with smart labels playing a key role in this expansion.
RFID Technology Paves the Way for Efficiency Gains
RFID technology is experiencing a surge in popularity among label manufacturers. This technology offers significant advantages, including the reduction of human error and labor costs. Additionally, its ability to read information over long distances and identify products with high accuracy makes it particularly valuable in the retail sector. RFID labels are also known for their resilience in adverse conditions, further boosting their attractiveness within the labels market.
Beyond RFID: Exploring Emerging Technologies
The emergence of technologies like Near Field Communication (NFC) and sensing labels is offering exciting possibilities for end-users. These advanced labels enable direct communication between packaging and smartphones, paving the way for a more streamlined and interactive user experience in self-adhesive labeling and packaging applications.
Sustainable Labels Gain Traction Amidst Environmental Concerns
The growing demand for sustainable products, coupled with government and non-government initiatives promoting them, is creating significant growth opportunities for the sustainable labels market. Leading label manufacturers are actively responding to this demand by offering eco-friendly alternatives.
Examples of Sustainable Labeling Solutions
Companies like Avery Dennison Corporation are providing labels made from recycled PP, with options like the multicycle label specifically designed for beverage packaging. Additionally, partnerships like those between Avery Dennison and Romei Replastic are emerging to address label waste by converting it into new raw materials.
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Industry Trends:
- E-commerce Packaging Requirements: The exponential growth of e-commerce has led to evolving packaging requirements, including durable and informative labels that can withstand the rigors of shipping and handling while providing essential product information and branding.
- Regulatory Compliance and Labeling Standards: Stringent regulatory requirements and labeling standards continue to shape the labels market. [Your Company Name] remains committed to ensuring compliance with regulatory guidelines while helping clients navigate complex labeling requirements across different regions and industries.
- Demand for Anti-Counterfeiting Solutions: With the rise in counterfeit products, there is a growing demand for anti-counterfeiting solutions such as tamper-evident labels, holographic labels, and track-and-trace technologies. [Your Company Name] is at the forefront of developing innovative anti-counterfeiting solutions to safeguard brands and consumers alike.
- Rise of Digitalization and Industry 4.0: Digitalization and Industry 4.0 technologies are transforming the labels market, enabling automation, predictive maintenance, and real-time data analytics. [Your Company Name] is embracing these technologies to enhance operational efficiency, streamline production processes, and deliver superior value to clients.
- Shift Towards Flexible Packaging: There is a noticeable shift towards flexible packaging solutions, driven by factors such as convenience, sustainability, and cost-effectiveness. [Your Company Name] is adapting to this trend by offering innovative labeling solutions tailored to the specific requirements of flexible packaging formats.
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.
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Key Segments
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
- Polyethylene (PE)
- Paper
- Foil
By Printing Technique:
- Flexographic Printing
- Digital Printing
- Gravure Printing
- Offset Printing
- Letterpress Printing
By Ink Type:
- Solvent Based
- Water Based
- UV Based
- Others (Latex Based, etc.)
By End Use:
- Food
- Bakery & Confectionery
- Dairy Products
- Baby Food
- Chilled/Frozen Food
- Others (Snacks, etc.)
- Beverages
- Alcoholic
- Non-Alcoholic
- Pharmaceutical
- Tablet/Capsules
- Cream & Ointment
- Liquid Syrup
- Others
- Cosmetics & Personal Care
- Homecare & Toiletries
- Chemicals
- Automobiles
- Other Consumer Durables
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Middle East and Africa
- Oceania
Author
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.
About Future Market Insights (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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