by The 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.
Market Overview:
Print labels are adhesive labels that are printed digitally or conventionally and used for product identification, branding, decoration, instruction, and authentication across various end-use industries. The printing technologies used for labels include flexography, digital, offset lithography, and gravure. Common applications of print labels include product identification, nutritional information labels, barcodes, track and trace labels, and price tags among others.
Market Dynamics:
The print label market is primarily driven by the ever-increasing demand from the food & beverage industry. Food labels provide information such as ingredients, nutritional values, expiration dates, price, and branding among others, thereby boosting traceability and safety. Additionally, growing e-commerce sales are expected to fuel application of print labels for identification, tracking, and delivery purposes. For instance, according to the U.S. Department of Commerce, e-commerce sales accounted for around 14% of total retail sales in 2020. Moreover, increasing popularity of custom and specialty labels among brands for product differentiation and premiumization is expected to offer lucrative growth opportunities over the forecast period. However, growing environmental concerns associated with non-biodegradable label materials may hinder market growth.
Segment Analysis
The global print label market is segmented by material type into paper, plastic/polymer, and other materials. Among these, the plastic/polymer segment dominates the market and is expected to witness high growth during the forecast period owing to increasing demand for durable and long-lasting labels especially those made from PVC, PE, and PET. This segment accounts for over 40% share of the global market.
PEST Analysis
Political: There are no significant political risks impacting the Print Label Market.
Economic: The rising disposable income levels across developing regions is driving the sales of fast-moving consumer goods, pharmaceuticals, and other labeled consumer products, which is a key factor fueling the growth of the global print label market.
Social: Increased consumer awareness regarding brand identification and certification drives demand for labels in consumer products.
Technological: Industry players are focusing on advanced printing technologies like flexography, digital printing, and rotogravure printing to deliver high-quality labels with variable data printing capabilities.
Key Takeaways
The global print label market size was valued at US$ 45.1 Bn in 2021 and is expected to witness high growth, exhibiting a CAGR of 4.26% over the forecast period of 2022 to 2030, due to increasing demand for packaged food and beverages globally.
The North America region dominates the global print label market with over 35% share owing to high demand for packaged food and pharmaceutical products in the US and Canada. Asia Pacific is expected to be the fastest growing market during the forecast period led by India and China.
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.
