Labels Market Accelerate at a CAGR of 4.8%, to Reach US$ 63.7 Bn by the end of 2032 | Future Market Insights, Inc.
Future Market Insights Global and Consulting Pvt. Ltd.
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Future Market Insights Global and Consulting Pvt. Ltd.
According to FMI, the U.S. is anticipated to hold 83% of total sales in North America by the end of the forecast period. Boom in the e-commerce sector across the U.S. is mainly being driven by rapid innovation of technology and ongoing digitalization in the packaging & labeling industries. The India labels market is anticipated to grow at an 8.8% CAGR over the forecast period
NEWARK, Del, Sept. 16, 2022 (GLOBE NEWSWIRE) -- The global labels market is projected to reach a value of US$ 63.7 Bn in 2032, with the market growing at an average CAGR of 4.8% over the forecast period of 2022 to 2032. Scaling up from a valuation of US$ 37.9 Bn, the labels market is predicted to reach US$ 39.8 Bn by the end of 2022. The need for safety and authenticity among various end-use industry verticals is expected to drive the demand for smart labels which in turn will create multiple growth opportunities for the labels market during the forecast period.
With advancing technology and its incorporation into the packaging industry at large, the labels market is also transforming itself and with this transformation new market opportunities are presenting them to the labels market. For instance, the rising popularity of RFID technology in the label industry is creating a positive impact on the market. RFID technology eliminates human errors and lessens employment costs, works without human interference, reads a long range of information and RFID labels are less sensitive to negative conditions. Additionally, these technologically enhanced labels enable direct package-to-smartphone communication which further propel the target market growth.
Furthermore, the escalating demand for sustainable goods coupled with initiatives taken by various government and non-governmental organizations regarding sustainability are expected to facilitate market expansion of the labels sector. Many market player are offering smart and sustainable labels to cater to the growing for sustainable products. This bodes well for the future possibilities of 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.
Major market players are focusing on product innovation and releases. These businesses are also employing expansion and acquisition strategies to gain a competitive advantage.
In its latest report, FMI offers an unbiased analysis of the global labels market, providing historical data from 2015 to 2021 and forecast statistics for 2022 to 2032. To understand the global market potential, growth, and range, the market is segmented on the basis of product type (pressure sensitive labels, shrink labels, stretch labels, wet glue labels, others (in-mold, pre-gummed, etc.)), material type (plastic (polyethylene (PE) (LDPE, HDPE, LLDPE, polypropylene (PP), polyethylene terephthalate (PET), others), paper, foil), printing technique (flexographic printing, digital printing, gravure printing, offset printing, letterpress printing), ink type (solvent based, water based, UV based, others (latex based, etc.), end use (food (bakery and confectionery, baby food, dairy products, chilled/ frozen food, others (snack, etc.)), beverages (alcoholic, non-alcoholic), pharmaceutical (tablet/ capsules, cream and ointment, liquid syrup, others), cosmetics and personal care, homecare and toiletries, chemicals, automobiles, other consumer durables), and region.
According to the latest FMI reports, based on region, the labels market in the United States is expected to undergo substantial growth over the assessment period. The market in this country is predicted to account for 83% of the total sales in North America. The rapid growth of e-commerce and demand for sustainable packaging is fueling the market growth in this region.
The label market in India is predicted to register an 8.8% CAGR during the assessment period. Heightened demand for retail outlets, supermarkets, convenience stores, etc., are expected to boost the market growth in this region over the forecast period.
Based on segmentation, by product type, sensitive labels segment is predicted to dominate the market while the food segment is expected to lead the market growth in terms of end use during this forecast period.
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