The global labels market is set to experience significant growth, reaching a value of US$63.7 billion by 2032. This projection reflects a notable compound annual growth rate (CAGR) of 4.8% between 2022 and 2032. By the end of 2022, the market is estimated to rise from its current value of US$37.9 billion to US$39.8 billion.
One of the major drivers fueling the growth of the labels market is the increasing demand for smart labels. Various industries are seeking enhanced authenticity and safety measures, leading to a higher need for smart labels and creating numerous growth opportunities throughout the projected period.
The packaging industry is undergoing a transformative phase, embracing technological advancements, and paving the way for new market prospects in the labeling industry. Notably, the adoption of Radio Frequency Identification (RFID) technology in label production has proven to be immensely beneficial for the market.
RFID technology offers comprehensive data scanning capabilities, reducing human errors, cutting labor costs, and enhancing label durability in challenging environments. These technologically advanced labels also enable direct package-to-smartphone connectivity, expanding the potential of the target market.
As the packaging industry increasingly incorporates technology, the labeling industry adeptly adapts to capitalize on new market opportunities. The adoption of RFID technology, in particular, has demonstrated significant advantages, including extensive data capabilities, cost savings, error reduction, and improved resistance to adverse conditions. Moreover, the integration of advanced labels facilitates direct connectivity between packages and smartphones, further expanding the market’s potential.
“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.
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Key Takeaways:
- Expanding e-commerce and growing digitization are expected to strengthen market prospects.
- The U.S. is predicted to account for approximately 83% of overall sales in North America.
- The label market in India is projected to register a robust CAGR of 8.8%.
- In 2022, the sensitive labels segment is expected to hold 73% of the market share.
- By end-use, the food segment is forecasted to grow at a CAGR of 3.2% 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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The report addresses several key questions related to the labels market:
- Growth Opportunities: The report identifies growth opportunities in the labels market, highlighting areas with the potential for expansion and profitability. This helps businesses and investors understand where they can capitalize on emerging trends and market dynamics.
- Raw Materials: The report provides insights into the major raw materials used for manufacturing labels in the market. It offers information on the types of materials commonly employed and their availability, cost, and impact on the overall market.
- Market Dynamics: The report analyzes the key factors influencing market dynamics, including drivers, restraints, trends, and opportunities. It examines the market conditions and external factors that shape the growth and development of the labels industry.
- Challenges and Restraints: The report discusses significant challenges and restraints faced by the labels market. It identifies obstacles that may hinder market growth, such as regulatory constraints, competitive pressures, changing consumer preferences, or supply chain complexities.
- Key Players and Initiatives: The report profiles key players operating in the labels market and provides insights into their strategic initiatives over the past few years. This includes information on mergers and acquisitions, partnerships, product launches, research and development activities, and other business strategies employed by major industry players
Regional Outlook
U.S. Snacking Trend and Indian Frozen Food Demand Drive Labels Market Growth
In the U.S., the growing snacking trend is expected to uplift sales of labels, particularly label stickers. With the demand for food hygiene, nutrition, and healthcare rising rapidly, the U.S. Food and Drug Administration requires labeling for food under the Federal Food, Drug, and Cosmetic Act. The e-commerce sector’s boom, fueled by technology innovation and digitalization in packaging and labeling industries, further contributes to the need for labels. Changing lifestyles, demographics, and the increasing consumption of ready-to-eat and packaged processed food items, driven by the trend of snacking, create a demand for small, single-use pouches, boosting the need for labels. Additionally, the rising demand for sustainable packaging and labeling solutions drives the demand for eco-friendly labels in the U.S. market.
In India, the high demand for frozen food fuels sales of waterproof labels. The labels market in India is projected to grow at an 8.8% CAGR. The Food Safety and Standards Authority of India (FSSAI) highlights the high demand for packaged food and plans to implement front-of-package (FoP) labeling on packaged foods to aid consumers in making healthier food choices. The increasing demand for perishable frozen packaged products like meat, poultry, and seafood drives the need for labels as consumers prefer packed and convenient food options. The growth of organized retail outlets, supermarkets, and convenience stores in India, along with the emergence of quick-service restaurants and food delivery services, further contributes to the demand for labels in the country
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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
About FMI
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient 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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