PUBLISHER: The Business Research Company | PRODUCT CODE: 1409724
PUBLISHER: The Business Research Company | PRODUCT CODE: 1409724
“Print Label Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on print label market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for print label? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The print label market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
A print label involves the creation and printing of a sticker or tag containing information such as the product name, description, price, barcode, or other relevant data. It encompasses the process of producing distinctive labels using various techniques, including flexographic printing and digital printing.
The main types of printing processes employed in label printing include offset lithography, gravure, flexography, screen printing, letterpress, electrophotography, and inkjet printing. Offset lithography is a method where an image is transferred from a printing plate onto a rubber blanket and then onto a printing surface such as paper. Raw materials used for labels include metal, plastic, or polymer materials, with label formats such as wet-glue labels, pressure-sensitive labels, linerless labels, multi-part tracking labels, in-mold labels, and shrink and stretch sleeves. These labels find applications across diverse industries, including food, beverage, healthcare, cosmetics, household products, industrial sectors (such as automotive, industrial chemicals, consumer and non-consumer durables), logistics, and others.
The print label market research report is one of a series of new reports from The Business Research Company that provides print label market statistics, including print label industry global market size, regional shares, competitors with a print label market share, detailed print label market segments, market trends, and opportunities, and any further data you may need to thrive in the print label industry. This print label market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The print label market size has grown strongly in recent years. It will grow from $44.8 billion in 2023 to $47.34 billion in 2024 at a compound annual growth rate (CAGR) of 5.7%. The growth observed in the historical period can be attributed to factors such as increasing globalization, heightened consumer awareness, the boom in e-commerce, compliance with regulatory standards, the proliferation of SKUs (Stock Keeping Units), and the emphasis on brand differentiation.
The print label market size is expected to see steady growth in the next few years. It will grow to $57.32 billion in 2028 at a compound annual growth rate (CAGR) of 4.9%. The anticipated growth in the forecast period can be attributed to concerns about sustainability, changes in the retail landscape, the rise of digital printing technologies, challenges in the global supply chain, and an increased focus on anti-counterfeiting measures. Major trends expected in the forecast period include the integration of augmented reality (AR) in labeling, advancements in data integration and automation, adherence to regulatory compliance and labeling standards, a growing emphasis on customization and personalization, and the integration of smart labels and RFID technology.
The anticipated growth in the demand for manufactured goods is set to drive the expansion of the print label market in the future. Manufactured goods encompass products created through a manufacturing process that transforms raw materials into finished items. The print label plays a crucial role in meeting the demand for manufactured goods by providing various labels such as product labels, asset labels, bar code labels, and shipping labels. For example, Eurostat, the Luxembourg-based statistical office of the European Union, reported an 8% increase in the production of manufactured goods in 2021 compared to 2020. In nominal terms, the value of sold production in the EU rose from $5,071.90 billion (€4,581 billion) in 2020 to $5,767.29 billion (€5,209 billion) in 2021. Hence, the surge in demand for manufactured goods is propelling the growth of the print label market.
The growing penetration of retail is expected to be a driving force behind the growth of the print label market. Retail involves the direct sale of goods or services to consumers through various channels, including brick-and-mortar stores or online platforms. Print labels play a crucial role in retail by facilitating efficient inventory management, pricing, and product identification. For instance, the U.S. Census Bureau estimated that U.S. retail e-commerce sales for the second quarter of 2023 reached $277.6 billion, reflecting a 2.1% increase from the first quarter of 2023. Consequently, the increasing penetration of retail is fostering growth in the print label market.
The adoption of technological advancements is a prominent trend gaining traction in the print label market, as companies within the industry strive to maintain their competitive positions. An illustration of this trend is evident in the actions of Xeikon B.V., a Netherlands-based provider of digital printing solutions for labels and packaging. In February 2021, Xeikon introduced two innovative digital label presses, namely the Xeikon CX30 and Xeikon CX50. These cutting-edge presses are built on Cheetah 2.0 technology, featuring new-generation interfaces, cloud connectivity, and leveraging a sixth-generation platform. The primary objective behind these presses is to deliver the utmost equipment effectiveness. Designed to collaborate seamlessly with any label printer falling within the 'medium capacity' range, defined as 20,000-40,000 square meters or 30,000-55,001 MSI across all end-use segments, these presses particularly excel in the pharmaceutical, food, and wine and spirits label sectors. Cheetah 2.0 technology's foundation lies in the scalable press architecture from Xeikon, which encompasses a full rotary process with five print stations and a customizable repeat length.
Major players in the print label market are directing their efforts toward the development of innovative intelligent systems leveraging technologies such as Artificial Intelligence (AI) to minimize environmental impact. AI, denoting the ability of a machine or computer system to perform tasks typically requiring human intelligence, is a central component of these endeavors. In September 2022, Markem-Imaje, a Switzerland-based industrial printing and packaging provider, unveiled eTouch-S-an intelligent print and apply labeling system seamlessly integrating artificial intelligence for precise and intelligent label application. Boasting features such as pack sensing and an optional Advanced Trigger Sensor (ATS), this system facilitates labeling on packs with variable distances and speeds, eliminating the need for complex integration. The applicator incorporates exclusive SoftTouch technology, ensuring complete control over the movement and monitoring of the application process, complemented by pack sensing that enables force-free application.
In March 2021, Multi-Color Corporation, a U.S.-based print label manufacturer catering to branded products, executed the acquisition of Harrods IML for an undisclosed amount. This strategic move serves to expand, diversify, and enhance Multi-Color Corporation's presence in Australia and New Zealand, integrating Harrods IML-a high-growth labeling technology provider specializing in creating recyclable, durable, cost-effective, and consistent print labels. Harrods IML is an Australia-based in-mold label (IML) solutions provider.
Major companies operating in the print label market report are Mondi Group, Connecticut Chemicals Limited, Multi-Color Corporation, Avery Dennison Corporation, Clondalkin Group Holdings BV, Ahlstrom-Munksjo Oyj, Cenveo Corporation, Fort Dearborn Company, Fuji Seal International Inc., Autajon Group, Brady Corporation, Constantia Flexibles Group, Ravenwood Packaging, Chesapeake Limited, 3M Company, H.B. Fuller Company, Henkel AG & Co. KGaA, R.R. Donnelley & Sons Company, WestRock Company, DuPont de Nemours Inc., CCL Industries, Aditya Polymers, Al Ghurair First LLC, Barspell Technologies India Pvt. Ltd., Cimarron Label LLC, Concept Labels and Packaging Co., Labelcraft Products Ltd., Label Impressions Inc., Label Technology Inc., Lightning Labels, MPI Label Systems, National Label Company, Resource Label Group LLC, Taylor Corporation, Consolidated Label Co., WS Packaging Group Inc. .
North America was the largest region in the print label market in 2023. Asia-Pacific is expected to be the fastest-growing region in the print label market report during the forecast period. The regions covered in the print label market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the print label market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The print label market consists of sales of product labels, shipping labels, bar code labels, asset labels, warning labels, security labels, and food labels. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.