by The global print label market is estimated to be valued at US$45.1 billion in 2021 and is projected to grow with a CAGR of 4.26% during the forecast period 2022-2030. The market is witnessing significant growth due to the increasing demand for customized product packaging across various industries. Print labels offer several advantages, such as brand identification, product information, and market differentiation, which are essential in attracting consumer attention and driving sales.
Market Key Trends: Rising Adoption of Eco-Friendly Labeling Solutions
One key trend in the print label market is the growing adoption of eco-friendly labeling solutions. With the increasing awareness about environmental sustainability, companies are actively seeking alternatives to traditional labels that use non-biodegradable materials and harmful adhesives. Eco-friendly labels are made from recyclable materials and use water-based or natural adhesives, making them more sustainable and environmentally friendly. This trend is driven by the shift in consumer preferences towards green and sustainable packaging options. Companies are investing in research and development to introduce innovative eco-friendly label solutions, which is expected to drive the growth of the print label market in the coming years.
Porter’s Analysis:
Threat of New Entrants: The print label market faces a medium level of threat from new entrants. Although there are limited barriers to entry in terms of technology and capital requirements, the strong brand reputation and established customer relationships of existing key players act as a deterrent for new entrants.
Bargaining Power of Buyers: The bargaining power of buyers in the print label market is moderate. Buyers have some power to negotiate prices and terms due to the large number of suppliers available in the market. However, the differentiation and quality of the products offered by key players can limit the buyers’ power to some extent.
Bargaining Power of Suppliers: The bargaining power of suppliers in the print label market is low. The key players in the market have established long-term relationships with their suppliers and have the ability to switch suppliers easily if needed. This reduces the suppliers’ power to dictate prices or terms.
Threat of New Substitutes: The threat of new substitutes in the print label market is relatively low. Print labels are widely used in various industries and have become an essential component of product packaging and branding. The availability of alternatives such as digital labels or direct printing may pose some threat, but the traditional print labels still hold their value in terms of convenience and cost-effectiveness.
Competitive Rivalry: The competitive rivalry in the print label market is high. The market is fragmented, with a large number of key players competing for market share. The industry is characterized by constant innovation and price competitiveness, driving key players to differentiate themselves through product quality, variety, and customization.
Key Takeaways:
The global Print Label Market Growth is expected to witness high growth, exhibiting a CAGR of 4.26% over the forecast period of 2022-2030. This growth can be attributed to increasing demand from various industries such as food and beverage, pharmaceuticals, and retail. The use of print labels for product identification, branding, and marketing purposes is driving the market growth.
In terms of regional analysis, Asia Pacific is expected to be the fastest-growing and dominating region in the print label market. This can be attributed to the rapid industrialization, urbanization, and increasing disposable income in countries like China and India. The demand for packaged food and beverages, as well as the growth of the e-commerce industry, are contributing to the market growth in this region.
Key players operating in the print label market include 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. These key players have a strong market presence and offer a wide range of print label products to cater to the diverse needs of customers.
*Note:
1) Source: Coherent Market Insights, Public sources, Desk research
2) We have leveraged AI tools to mine information and compile it
