July 11, 2022 12:22 ET | Source: The Brainy Insights The Brainy Insights
Newark, July 11, 2022 (GLOBE NEWSWIRE) -- As per the report published by The Brainy Insights, the global print label market is expected to grow from USD 40.87 billion in 2021 to USD 59.08 billion by 2030, at a CAGR of 4.18% during the forecast period 2022-2030.
The rising demand for manufactured goods is anticipated to expand demand for the print label market during the projection period. Additionally, the adoption of better & effective-performing technologies to build high-quality products also helps to drive market growth. Further, the versatility & flexibility, the high graphics standards offered by the print label, and the proliferation in the disposable income of people worldwide are the driving factors of the market growth. Moreover, the increase in raw material expenses like plastics in different forms is the restraining factor of the market growth. However, the increasing demand for processed food and rising automotive enterprises are opportunities for market growth.
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To enhance their market position in the global print label market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
The growth of the print label market is driven by the enormous investments in the pharmaceutical, food processing, and personal care end-user industries. Moreover, the growing use of print labels in the food enterprise and the rapid evolution of the food & beverage sector is the market growth trend. Further, the demand for packaging proliferation is due to changing lifestyles, rising income levels, growing population, increased media penetration via the internet, television, and a flourishing economy. Additionally, the growing demand for packaged food is also affecting the growth of this market as it assures safety, food quality, and long shelf life. The increasing number of FMCG product manufacturers across the globe generates substantial demand for labelling technologies. However, the FMCG products are typically manufactured & supplied in a large volume due to their exponential demand among customers. As per the Federation of Indian Chambers of Commerce & Industry (FICCI), the price of packaged foods grows due to raised urbanization, per capita income, and enhanced working hours for females. Further, the massive expansion of exports in countries like Japan, India, and China results from growth in the packaging enterprise facilitated by automated packaging processes.
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• In 2021, the wet-glue labels segment dominated the market with the largest market share of 24.19% and market revenue of 9.88 billion.
The label format segment is divided into wet-glue labels, linerless labels, pressure-sensitive labels, in-mold labels, and multi-part tracking labels. In 2021, the wet-glue labels segment dominated the market with the largest market share of 24.19% and market revenue of 9.88 billion. This growth is attributed to the increasing demand for wet-glue labels owing to its broad range of applications for jars, glass bottles, and plastic containers.
• In 2021, the inkjet print process segment dominated the market with the largest market share of 20.12% and market revenue of 8.22 billion.
The print process segment is divided into flexography, offset lithography, letterpress, gravure, inkjet, electrophotography, screen, and others. In 2021, the inkjet print process segment dominated the market with the largest market share of 20.12% and market revenue of 8.22 billion. The different benefits of the inkjet printers, like low start-up expense, cheap cartridges, and being relatively lightweight and smaller than any other printers, is helping to drive the segment’s market growth.
• In 2021, the food segment dominated the market with the largest market share of 21.14% and market revenue of 8.63 billion.
The end-user industry segment is divided into healthcare, food, beverage, cosmetics, logistics, industrial, and household. In 2021, the food segment dominated the market with the largest market share of 21.14% and market revenue of 8.63 billion. The appropriate packaging of the food products offers better food quality and more security and extends the product's shelf life. This factor is helping to drive market growth. Further, by 2030, the beverage segment will likely dominate the market due to the increasing sales of energy drinks owing to the worldwide wellness & fitness trend.
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Regional Segment Analysis of the Print Label Market:
• North America (U.S. Canada, Mexico) • Europe (Germany, France, U.K., Italy, Spain, Rest of the Europe) • Asia-Pacific (China, Japan India, Rest of APAC) • South America (Brazil and Rest of South America) • Middle East and Africa (UAE, South Africa, Rest of MEA)
North America region occurred as the largest market for the global print label market with a market share of 45.15% and a market value of around 18.45 billion in 2021. North America currently dominates the print label market due to the rapid growth in the labeling enterprise and major key vendors in the region. Additionally, the growing demand for sustainable food packaging products is also helping to drive the region's market growth. Furthermore, the Asia Pacific region is expected to show the fastest CAGR of 10.02% over the projection period. This growth is attributed to the increasing adoption of efficient & better-performing technologies to produce high-quality products. Moreover, the ever-increasing cosmetics enterprise will probably help the market's growth during the projection period.
Key players operating in the global print label market are
• Mondi Group • Fort Dearborn • Autajon Group • Chesapeake Limited • Avery Dennison • Clondalkin Group • Munksj Group • Cenveo Inc. • Constantia Flexibles Group • CCL Industries • Fuji Seal International Inc. • Brady Corporation • Bemis Comp
This study forecasts revenue at global, regional, and country levels from 2019 to 2030. The Brainy Insights has segmented the global print label market based on below mentioned segments:
Global Print Label Market by Label Format:
• Wet-Glue Labels • Linerless Labels • Pressure-Sensitive Labels • In-Mold Labels • Multi-Part Tracking Labels
Global Print Label Market by Print Process:
• Flexography • Offset lithography • Letterpress • Gravure • Inkjet • Electrophotography • Screen • Others
Global Print Label Market by End-User Industry:
• Healthcare • Food • Beverage • Cosmetics • Logistics • Industrial • Household
The global print label market is analysed based on value (USD Billion). All the segments have been analysed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
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