The global Print Label Market is estimated to be valued at US$ 45.1 Bn in 2022 and is expected to exhibit a CAGR of 4.26% over the forecast period 2022 to 2030, as highlighted in a new report published by Coherent Market Insights. Print labels are used in various end-use industries such as food & beverages, pharmaceuticals, personal care, and chemicals for product identification and enhancing aesthetic appeal.
Market Overview (do not change the heading)
Print labels provide product information as well as protection and are used in industries such as food and beverages, chemicals, cosmetics, and pharmaceuticals. They can be made from different materials like paper, foil, and plastic films. Print labels are durable, reusable, customizable, cost-effective, and suitable for flexible as well as rigid packaging applications. The need for sustainable and compliant packaging drives the demand for print labels in the global market.
Market key trends (do not change the heading)
One of the key trends in the print label market is the growing demand for digitally printed labels. Digital printing allows for customized, small batch, and on-demand printing, enabling manufacturers to update label designs frequently. This technology provides benefits like variety in designs, unlimited colors, quicker turnaround time, and versions, lower inventory costs, and reduced waste. Digitally printed labels have applications in food, cosmetics, pharmaceuticals, and industrial goods packaging. With improved capabilities, digitally printed labels are increasingly replacing traditionally printed ones.
Segment Analysis
The global Print Label Market is segmented on the basis of product type, material type, printing technology, application and end-use sector. Based on product type, the self-adhesive labels segment is dominating the market with over 60% share, owing to rising demand for adhesive labels from food, beverages, pharmaceutical and personal care industries due to durability, reliability and versatility offered by self-adhesive labels. Based on material type, the paper segment dominates the market due to its low cost and widespread acceptability across industries.
Key Takeaways
The global print label market is expected to witness high growth, exhibiting CAGR of 4.26% over the forecast period, due to increasing demand for labels from food & beverages and pharmaceutical industries for branding and marketing purposes.
Regional analysis
The North America region currently dominates the global print label market with around 35% share. The US print label industry exhibits the highest growth rate in North America, attributed to stringent barcode labeling laws and rapidly growing e-commerce industry in the country. The Asia Pacific region is expected to grow at the fastest pace during the forecast period, with China and India emerging as high potential markets.
Key players
Key players operating in the print label market are Fort Dearborn, Multi Color Corporation, Mondi Group, Ahlstrom-munksjö Oyj, Autajon Group, Avery Dennison Corporation, CCL Industries Inc., Multi Packaging Solutions (Westrock Company), Clondalkin Group Holdings BV, Cenveo Corporation, Brady Corporation, Fuji Seal International Inc., Constantia Flexibles Group GmbH, R.R. Donnelley & Sons Company, 3M Company, Taylor Corporation, Huhtamaki OYJ, Taghleef Industries Inc., Ravenwood Packaging, Sato America, Coveris, Fedrigoni Self-Adhesives (Fedrigoni Group), Epac Holdings LLC, and Neenah Inc.
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Global Print Label MarketThe GMI Research forecasts that the Print Label Market is witnessing an upsurge in demand over the forecast period.
Moreover, the leading market players are progressively focusing on expanding their distribution channels and sales.
For instance, Xeikon, in 2019, launched its innovation center in Shanghai to fulfill the rising demand from Chinese consumers.
This escalation allowed the visitors and customers to test different applications and alternatives to grow their business via new revenue streams and business growth.
In accordance with the Federation of Indian Chambers of Commerce & Industry (FICCI), the accumulated expenditure on these items is increasing primarily because of the mounting per capita income, rapid urbanization, and the escalating working women population.
Moreover, the growing seepage of modern retail trade outlets which include supermarkets and convenience store, offers various frozen food products.
