Summary
Major players in the print label market are Mondi Group, Connecticut Chemicals (Canada) 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, and 3M Company.
The global print label market is expected to grow from $42.27 billion in 2022 to $44.80 billion in 2023 at a compound annual growth rate (CAGR) of 6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The print label market is expected to reach $54.28 billion in 2027 at a CAGR of 4.9%.
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.
A print label refers to the process of creating and printing a sticker or tag that includes information such as the product name, description, price, barcode, or other relevant data. It is defined as the procedure of printing distinct labels using different techniques, including flexographic printing and digital printing.
North America was the largest region in the print label market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in print label report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of printing processes involved in printing labels are offset lithography, gravure, flexography, screen, letterpress, electrophotography, and inkjet.Offset lithography refers to the printing process that involves the transfer of an image from a printing plate onto a rubber blanket and then onto a printing surface such as paper.
The raw materials used are metal labels and plastic or polymer labels, that uses 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 are used by several end-user industries, including food, beverage, healthcare, cosmetics, household, industrial (automotive, industrial chemicals, consumer and non-consumer durables), logistics, and others.
The increase in demand for manufactured goods is expected to propel the growth of the print label market going forward.Manufactured goods refer to any products created through a manufacturing process involving transforming raw materials into finished products.
The print label helps fulfil the demand for manufactured goods by providing product labels, asset labels, bar code labels, shipping labels, and others.For instance, in August 2022, according to the report shared by Eurostat, a Luxembourg-based statistical office of the European Union, in comparison to 2020, the production of manufactured goods increased by 8% in 2021.
In nominal terms, the value of sold production in the EU increased by 14% from $5,071.90 billion (€4,581 billion) in 2020 to $5,767.29 billion (€5,209 billion) in 2021. Therefore, the increase in demand for manufactured goods is driving the growth of the print label market.
Technological advancements are a key trend gaining popularity in the print label market.Companies operating in the print label market are adopting new technologies to sustain their position in the market.
For instance, in February 2021, Xeikon B.V., a Netherlands-based provider of digital printing solutions for labels and packaging, launched two new digital label presses, the Xeikon CX30 and Xeikon CX50. These new presses, which are based on Cheetah 2.0 technology with new generation interfaces and cloud connectivity and built on its sixth generation platform, are intended to provide the highest level of equipment effectiveness possible. The two new presses from Xeikon were created and built to work with any label printer using ’medium capacity’, which is defined as 20,000–40,000 square meters, or 30,000–55,001 MSI in all end-use segments. According to the manufacturer, the press shines particularly in the pharmaceutical, food, and wine and spirits label sectors. The foundation of Cheetah 2.0 technology is the scalable press architecture from Xeikon, which features a full rotary process with five print stations and a customizable repeat length.
In March 2021, Multi-Color Corporation, a US-based print label manufacturer for branded products, acquired Harrods IML for an undisclosed amount.This acquisition broadens, diversifies, and enriches Multi-Color Corporation’s reach to Australia and New Zealand and integrates IML, a high-growth labelling technology that creates recyclable, durable, cost-effective, and consistent print labels.
Harrods IML is an Australia-based IML (in-mold label) solutions provider.
The countries covered in theprint label market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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
The print label market research report is one of a series of new reports 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.
