Die cut labels are sticker or adhesive labels that have intricate shapes and designs cut into them. They are used for a variety of applications such as product identification and decoration, warning signs, food labels, and advertisement. Die cut labels help brands enhance product appeal and attract consumers through innovative designs and messages. The ability of die cut labels to convey visual information efficiently while occupying less space makes them ideal for promotional purposes.
The global Die Cut Label Market is estimated to be valued at US$ 162.4 Mn in 2023 and is expected to exhibit a CAGR of 9.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Opportunity:
Brand Promotion
Die cut labels offer brands an effective way to promote products through unique and eye-catching designs. Their shapes can mimic product features to create instant brand recognition. Moreover, die cut labels allow inclusion of promotional messages, logos, and offers which help brands connect with consumers. The open spaces in die cut labels also provide ample room for brands to creatively showcase themselves. The opportunity for die cut labels to strengthen brand image and drive sales through visual branding and messaging is expected to boost the market growth over the forecast period.
Porter's Analysis
Threat of new entrants: Low capital requirements and brand loyalty in die cut label market make threat of new entrants moderate.
Bargaining power of buyers: Large buyers have significant bargaining power over suppliers due to the competitive nature of label market.
Bargaining power of suppliers: Suppliers have low to moderate bargaining power due to availability of substitute raw materials.
Threat of new substitutes: Threat of substitutes like digital printing is moderate as die cut labels are preferred for aesthetic and brand value.
Competitive rivalry: Market is dominated by few global players resulting in high competitive rivalry.
SWOT Analysis
Strength: Wide availability of raw materials, customization options, and cost-effectiveness.
Weakness: Volatile raw material prices and technology changes.
Opportunity: Growth in food & beverage and consumer goods industries and shifting trends towards sustainable labeling.
Threats: Stringent regulations over labelling content and increasing digitization.
Key Takeaways
The Global Die Cut Label Market Size is expected to witness high growth. The global Die Cut Label Market is estimated to be valued at US$ 162.4 Mn in 2023 and is expected to exhibit a CAGR of 9.5% over the forecast period 2023 to 2030.
North America dominates the market owing to stringent regulations regarding product labelling and presence of key players. Asia Pacific is expected to grow at fastest pace during forecast period driven by growth of end use industries in developing economies like India and China.
Key players operating in the die cut label market are Akzo Nobel N.V., PPG Industries, Inc., Sherwin-Williams Company, BASF SE, Hempel A/S. Akzo Nobel holds leading position globally. Rising awareness about sustainable labelling solutions is forcing companies to invest in eco-friendly label production technologies.
For More Insights, Read: https://www.newswirestats.com/die-cut-label-market-demand-growth-and-regional-outlook-by-2030/
