PRINT LABEL MARKET ANALYSIS

Market Size and Trends

The global print label market is estimated to be valued at USD 51.13 Bn in 2024 and is expected to reach USD 68.51 Bn by 2031, growing at a compound annual growth rate (CAGR) of 4.3% from 2024 to 2031.

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The growth of the print label market is primarily driven by increasing demand from the food & beverages industry. Traditional printing technology is being replaced by digital printing which offers benefits like variable data, on demand printing, and shorter turnaround time. Sustainable labeling is an emerging trend in the market with companies focusing on developing labels from recyclable and biodegradable materials to offer eco-friendly solutions. Innovation and development of smart labels integrated with QR codes, RFID, and NFC technology are anticipated to create new opportunities over the forecast period.

Growing Demand for Flexible Packaging

One of the primary drivers fueling growth in the global print label market is the increasing preference for flexible packaging among brand owners and consumers alike. Flexible packaging offers several advantages over rigid packaging formats such as ease of use, ability to fit varied product sizes and shapes, and potential for multi-purpose functionality through re-sealability or reclosability. It allows brand owners to appeal to busy, urbanized consumers seeking convenient packaging designs that are easy to handle, store, and reuse or recycle. Moreover, the lightweight and compact nature of flexible packaging helps reduce transportation and logistics costs. Various players in the F&B, pharmaceuticals, personal care, and home care sectors have shifted significant volumes of their product portfolios to flexible packaging in the form of stand-up pouches, bags, sleeves, and wraps. As flexible packaging continues to gain prominence, print label manufacturers are witnessing growing demand for customized adhesive labels, shrink sleeves, wraparound labels, and other variants suitable for flexible substrates.

Market Concentration and Competitive Landscape

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Another key trend steering market expansion is the preference among brand owners as well as consumers for sustainable and environment-friendly labelling solutions. Building on the widespread focus on reducing plastic waste and carbon footprint of packaging, companies manufacturing print labels have been innovating new varieties of labels made from recycled, bio-based, and compostable materials. Novel labelling technologies are also being adopted for producing labels without harmful chemicals and enabling full recyclability. The introduction of labelling films made from renewable feedstock and enabled with advanced recycling has been well-received. Driven by rising eco-awareness and preference for brands that demonstrate sustainable practices, the demand for such labels integrating green attributes is expected to surge significantly across regions in the coming years. This will open up attractive growth prospects for print label manufacturers oriented toward developing and scaling up sustainable labels.

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Changing consumer preferences towards digital forms of labeling over traditional print labels poses a threat. Additionally, Strong competition from flexible packaging and product decoration alternatives is intensifying. Stringent environmental regulations regarding use of materials like plastics and adhesive chemicals increase compliance costs. Technology evolution is disrupting conventional printing processes. Maintaining competitive pricing without compromising on quality is challenging due to high input costs and price pressures from retailers.

Opportunities: Growing demand from the food and beverage industry

Growing demand from the food and beverage industry continues to be high necessitating proper product identification and branding. Growth of the e-commerce sector boosts need for enhanced packaging solutions with rich visual and branding elements. Adoption of hybrid and digital labels combining print and digital features presents new revenue avenues.

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In terms of label format, pressure-sensitive labels are expected to contribute 32.2% share of the market in 2024 owing to their convenient adhesive qualities. Unlike wet-glue labels which require activation with water or a printing solution, pressure-sensitive labels can be applied directly without any additional adhesive activation step. This makes them significantly easier and faster to apply compared to other label types. The self-adhesive nature of pressure-sensitive labels streamlines labeling processes across many industries, reducing time and labor costs associated with application.  Their adhesive properties also provide benefits in terms of labeling diverse surfaces. Pressure-sensitive labels can adhere effectively to irregular or curved surfaces without any special surface preparation needed. This flexibility expands possible applications beyond just flat or planar surfaces. The adhesive technology allows pressure-sensitive labels to conform to any container or product shape. This conformability is valuable for labelers seeking to clearly mark complex or three-dimensional item designs. As automated labeling has increased in production environments, pressure-sensitive labels have seen growing use due to their compatibility with high-speed application equipment. Their self-adhesive characteristics mean they can be dispensed and precisely applied by labeling machinery without the need for additional activators like water or solvents. This compatibility with automation streamlines labeling processes for high-volume goods. It also reduces risks of misapplication compared to labels requiring a multi-step activation process.

Insights by Print Process: Printing Precision Boosts Offset Lithography's Share

In terms of print process, offset lithography is expected to contribute 35.5% share of the market in 2024 due to its ability to produce labels with high image quality and resolution. Offset lithography involves printing from a plate that creates an inked image which is then transferred or "offset" onto a rubber blanket and finally to the label stock. This indirect printing method allows for high-fidelity reproduction of even the most intricate images and text on labels.  The multi-step image transfer process gives offset lithography a key advantage over direct printing techniques in terms of print resolution. It can achieve resolutions up to 2,400 dots per inch or higher. This level of detail allows offset printing to reproduce scans or photographs in sharp focus on labels. Complex security markings, barcodes, and small font sizes can also be clearly legible. The photo-like image quality helps brands incorporate sophisticated graphic designs that build product appeal and reinforce branding consistency. The large printing plates used in offset lithography also provides long print runs without degradation in image. A single plate press set-up can produce tens of thousands of high-resolution labels. This supports large production quantities needed for various consumer package goods. The consistency of print over high volumes is important for standardized labeling of items meant for mass markets. Offset lithography delivers unvarying print runs suited for such applications.

Insights by End-User: Regulation and Safety Drive the Food & Beverage Label Demand

In terms of end-user industry, food & beverages is expected to contribute 37.4% share of the global print label market in 2024 due to stringent regulatory requirements and consumer focus on product information. Packaging labels for food and drinks must clearly present nutrition information, ingredients lists, allergen warnings, package characteristics like weight and volumes, and expiration dates to comply with various jurisdiction-level mandates. This extensive mandated labeling creates substantial demand for compliant print labels across global and domestic food and beverage brands. Beyond regulations, food and beverage manufacturers also utilize packaging labels to provide preparation instructions, storage and recycling guidelines, certifications like organic or fair-trade, responsible sourcing details, and ingredient sourcing transparency to address rising consumer interest in sustainable and ethical product attributes. Communicating such values and attributes on labels helps build brand trust and affinity among health-conscious buyers.  Labels also carry important safety information for perishable products. They help indicate freshness through expiration dates as well as guide proper handling through temperature control guidelines. This protects brand reputation by preventing illness from spoiled or mishandled products. As such, food and drinks rely heavily on packaging labels to both comply with regulations and assure consumer well-being, driving sustained demand for specialized print solutions in the industry.

Regional Insights

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North America has established itself as the dominant leader in the global print label market over the past few decades and is expected to account for 37.6% of the market share in 2024. The region is home to some of the largest label printing companies and converters in the world. It has a highly advanced labelling industry infrastructure with widespread availability of modern printing technologies such as digital printing. The North American market continues to thrive due to strong demand from various end-use industries such as food & beverage, chemicals, personal care & cosmetics, and pharmaceuticals. These industries rely heavily on labels for product identification, branding, and compliance with regulations. Moreover, the presence of several multi-national FMCG and pharmaceutical companies in the region fuels continuous demand for large volumes of labels. Another key factor for North America's dominance is its proactive early adoption of new labelling technologies and materials. Regional players are at the forefront of developments in areas like shrink sleeve labels, functional QR coded, and RFID labels. This allows them to meet rapidly evolving customer requirements. Additionally, the region also exports labels to other large markets globally.

The Asia Pacific region has emerged as the fastest growing market for print labels in recent years. China and India are leading the growth and transforming into major manufacturing and exporting nations. Their expanding domestic markets lend strong impetus to label demand. The growing middle-class population with rising disposable incomes drives packaging consumption. Asia Pacific's development is supported by improving labelling infrastructure and increasing localization efforts of global brands. Many international label players have set up manufacturing facilities to cater to the region. Additionally, the availability of economical labor and raw materials as well as lenient regulations have encouraged local label converters to rapidly modernize their facilities. This has enabled these regions to significantly reduce their past reliance on imports. The market is further fuelled by Asia Pacific becoming a sourcing hub for several in Western markets. This promotes export opportunities for regional suppliers. While compliance remains a challenge due to fragmented regulations, overall the evolving business environment makes Asia Pacific increasingly attractive for label printing investments.

Market Report Scope

Key Developments

• In April 2024, Brother International has introduced the latest in labelling technology and printing solution with its IoT-enabled connectable label printers
• In 2023, Konica Minolta Launches New Label Press
• In March 2021, Fort Dearborn announced that it has acquired Hammer Packaging Corporation. The combined organization can take advantage of Hammer’s technology to enhance Fort Dearborn’s position in the decorative label and packaging marketplace by further expanding the company’s geographic footprint, capacity and capabilities.
• In March 2021, The Company announced that it became a full association member of the Glass Packaging Institute (GPI). GPI is the trade association representing the North American glass container industry. The partnership can strengthen offerings to the glass industry, with high quality and full recyclability label solutions

*Definition: The global print label market consists of companies involved in the production and sales of various types of printed labels that are used extensively across many industries for product identification, branding, and packaging purposes. Key players in this market manufacture labels using different materials like paper, plastic, and metal through various printing technologies such as flexography, lithography, and digital printing. They provide labels to end-use industries worldwide including food & beverages, consumer durables, personal care, pharmaceuticals, and retailing.

Market Segmentation

•  Label Format Insights (Revenue, USD Bn, 2019 - 2031)
  • Wet-glue Labels
  • Pressure-sensitive Labels
  • Linerless Labels
  • Multi-part Tracking Labels
  • Others
•  Print Process Insights (Revenue, USD Bn, 2019 - 2031)
  • Offset
  • lithography
  • Gravure
  • Flexography
  • Screen
  • Letterpress
  • Electrophotography Inkjet
  • Others
•  End-user Industry Insights (Revenue, USD Bn, 2019 - 2031)
  • Food & Beverages
  • Healthcare
  • Cosmetics
  • Household
  • Industrial
  • Logistics
  • Others
• Regional Insights (Revenue, USD Bn, 2019 - 2031)
  • North America
    • U.S.
    • Canada
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Rest of Latin America
  • Europe
    • Germany
    • U.K.
    • Spain
    • France
    • Italy
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
    • South Korea
    • ASEAN
    • Rest of Asia Pacific
  • Middle East & Africa
    • GCC Countries
    • Israel
    • Rest of Middle East & Africa
• Key Players Insights
  • 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
  • Coveris