Print Label Market Outlook
The Print Label Market size was USD 47.11 Billion in 2022 and is likely to reach USD 67.58 Billion by 2031, expanding at a CAGR of 44.09% during 2023–2031. The growth of the market is attributed to the owing to the increasing demand for food and pharmaceutical packaging.
A label is a piece of paper, metal, cloth, or polymer attached to a container or box of a product which is printed with the product tag, brand, price, and ingredients list. Printed labeling is used to identify products and avoid counterfeiting of products, and maintain credibility of the product brand.
Product labeling is essential for creating brand identity and display useful information to consumers. The digital label printing is practiced world-wide for almost every sector owing to its multiple advantages including low printing costs, fast turnaround time, easy updates, high print quality, durable UV ink, and environment friendly process. The labels can be attached by Heat activated & pressure sensitive adhesives, rivets, shrink wrap, sewing, starch, dextrin, yarn, swing tag, and static cling to insure durability.
Therefore, the labels are often difficult to peel and apply. Labels are generally supplied using rolls or sheets. Most of the labels are pre-printed by the product manufacturer. However, some of the labels have printing which is applied manually or automatically. The high speed label printers are used to apply labels to the packages. The labels are provided with protective overcoats, laminates, or tapes as a covering after the final print. A label dispenser can speed up this task.
The COVID-19 pandemic had a dramatic impact on the dynamics of various industries. The outbreak of coronavirus disease resulted into world-wide lockdowns and stringent regulations on transportation activities. The pandemic situation disrupted the supply chain across various end-user industries like food and beverage, healthcare, and industrial. The economic slowdown and work stoppages had witnessed the restricted growth of the print label market.
Print Label Market Trends, Drivers, Restraints, and Opportunities
- Growing demand for processed food and growing automotive industries are the major factors anticipated to fuel the growth of the market in the coming years.
- Increasing food product launches and rising sales of pre-processed food due to changing lifestyle is expected to spur the market growth during the forecast period.
- High demand from food & beverages and healthcare industry is propelling the market expansion.
- Rising costs of raw material such as plastics is anticipated to hamper the market growth in the coming years.
- Ongoing research & developments for durable products launches and industrial investments for the expansion of product line and offerings is expected to offer immense opportunities for the market players in the long run.
Scope of Print Label Market Report
The report on the global print label market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Print Label Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Print Processes (Gravure, Offset Lithography, Inkjet, Screen, Letterpress, Flexography, and Electrophotography), Label Formats (In-mold Labels, Pressure-sensitive Labels, Sleeves, Linerless Labels, Wet-glue Labels, and Multi-part tracking Labels), and End-users (Logistics, Household, Food, Industrial [Industrial Chemicals, Consumer, Non-consumer Durables, and Automotive], Healthcare, Beverage, Cosmetics, and Others)
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report
Mondi Group; Avery Dennison Corporation; Cenveo Corporation; Constantia Flexibles Group GmbH; Print Label Market Segment Insights; and Fort Dearborn Company
Print Label Market Segment Insights
The offset lithography segment is anticipated to register at a substantial CAGR
Based on print processes, the market is bifurcated into gravure, offset lithography, inkjet, screen, letterpress, flexography, and electrophotography. The offset lithography segment is anticipated to register at a substantial CAGR during the projected period owing to its consistent high image quality, quick & easy production of printing plates, longer printing plate life, and cost-effective printing. Moreover, increasing improvement in product features such as integrated Bluetooth capability that assist an individual in listening to music, answering phone calls, and getting the driving directions is anticipate the growth of the market segment in the coming years. However, the knee guard segment is expected to register at a rapid pace during the forecast period owing to its very high printing speed, consistent & clean print quality, and durability.
Wet-glue labels segment is projected to hold a significant market share
On the basis of label formats, the market is segregated into in-mold labels, pressure-sensitive labels, sleeves, linerless labels, wet-glue labels, and multi-part tracking labels. The wet-glue labels segment is projected to hold a significant market share during the forecast period due to its cost-effectiveness, easy application, and high demand from food & beverages and healthcare industries.
Furthermore, growing demand for wet-glue labels owing to its wide range application for glass bottles, jars, and plastic containers is anticipated to fuel the market segment in the coming years. On the other hand, the leather segment is anticipated to expand at a considerable pace owing to its widespread applications in the food & beverage, pharmaceutical, consumer durables, personal care, construction, and other industries.
Food segment is expected to expand at a rapid pace
Based on end-users, the market is segmented into logistics, household, food, industrial, healthcare, beverage, cosmetics, and others. The industrial segment is further divided into industrial chemicals, consumer, non-consumer durables, and automotive. The food segment is expected to expand at a rapid pace during the forecast period due to growing consumer awareness about food safety and consequent rising production of packed food.
However, the beverages segment is projected to account for a key market share owing to the increasing production of floured & unflavored beverages, rising demand for dairy based beverages, and growing sales of energy drinks owing to world-wide fitness & wellness trend.
Asia Pacific market is anticipated to dominate the market
In terms of regions, the market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market of Asia Pacific is anticipated to expand at a significant CAGR during the forecast period owing to growing industrial investments, sales of processed food in the domestic market, and high demand for packed food products in the region. Moreover, the increasing need for quality water and health-conscious drinking habits along with subsequent increased in consumption of bottled water are expected to fuel the growth of the market in the coming years.
On the other hand, the market of North America is expected to grow at a significant rate during the forecast period due to increasing growth of various end-user industries and rising production of consumer durable products in the region.
The global print label market has been segmented on the basis of
- Offset Lithography
- In-mold Labels
- Pressure-sensitive Labels
- Linerless Labels
- Wet-glue Labels
- Multi-part tracking Labels
- Industrial Chemicals
- Non-consumer Durables
- Asia Pacific
- North America
- Latin America
- Middle East & Africa
Key players competing in the global print label market are Mondi Group; Avery Dennison Corporation; Cenveo Corporation; Constantia Flexibles Group GmbH; Print Label Market Segment Insights; and Fort Dearborn Company. Companies are focusing on business strategies, introducing new products, entering into strategic partnerships, and acquisitions to improve their competitive position in the market.
In March 2021, Fort Dearborn Company acquired Hammer Packaging Corporation to enhance its position in the decorative label and packaging marketplace by further expanding the capacity, geographic footprint, and capabilities of the company.
In February 2021, Mondi Group launched two paper-based sustainable EverLiner products, EverLiner M R and EverLiner Labelite. The company created the two EverLiner products using recycled and lightweight materials to provide more sustainable solutions in a range of applications.