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The labels market size is estimated to grow by USD 13.17 billion at a CAGR of 5.97% between 2023 and 2028. Sleeve labels have gained significant traction in the market due to their aesthetic appeal and functional benefits. These labels are increasingly being preferred over traditional paper or shrink labels, particularly in the organized retail sector. The rise of e-commerce and the growing trend towards premium packaging have fueled the demand for sleeve labels. Additionally, the preference for colored labeling over plain labels is on the rise, as brands seek to differentiate themselves and enhance the visual appeal of their products. Shrink sleeve and stretch sleeve labels offer a cost-effective and eco-friendly solution for branding and product identification, making them an attractive option for manufacturers and retailers alike. With their versatility, durability, and ability to convey brand messaging effectively, sleeve labels are poised to continue their growth trajectory in the labeling industry. The label market size is expanding, with the industrial labels market and labeling industry seeing growth. Labels market trends reflect this change, as industrial labels market analysis provides deeper insights.
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The labels market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.
The consumer goods segment is estimated to witness significant growth during the forecast period. In the consumer goods segment, labels are used on food packaging, wine bottles, clothing, toiletries, and kitchenware, as well as health information and distribution labeling. Consumers need to know the ingredients of a product. As a result, companies across all product categories in the consumer goods industry are looking for new approaches to developing innovative labels.
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The consumer goods segment was the largest segment and was valued at USD 16.37 billion in 2018. Labeling also helps differentiate products from other similar products. In the fast-moving consumer goods industry, labels are regularly changed in response to changes in customer buying behaviour. Additionally, governments such as China and Brazil set their own labeling guidelines for each product. Therefore, the growing consumption of groceries, personal care products, food, and beverages is expected to boost the demand for private labels during the forecast period.
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APAC is estimated to contribute 44% to the growth of the global labels market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The market is expected to grow fastest in various developing countries in the APAC region including India and China. Changes in lifestyle and demographics, especially among the middle class in developing countries, are increasing the demand for packaged food and beverages. This will increase the demand for packaged food and beverage labels.
Moreover, increased exports from various ASEAN (Association of Southeast Asian Nations) countries have further raised the market demand for labels. In addition, increasing demand for packaged personal care products is expected to boost the demand for labels as well. Therefore, the growth of the APAC label market is expected to continue at a rapid growth during the forecast period.
The market is a dynamic and growing industry that caters to various sectors, with a significant focus on packaging. The market encompasses a wide range of materials used for producing labels, including glass, metals, wood, natural rubber, plastics, plastic resins, and various types such as polystyrene (PS), polyethylene (PE), polypropylene (PP), polybutylene terephthalate (PBT), polyphenylene oxide (PPO), polyurethane (PU), polyvinyl chloride (PVC), polyethylene terephthalate (PET), polycarbonate (PC), polysulfone (PSU), polyamide (PA), and polyphenylsulfone (PPSU). These materials are used to create different types of labels, each with unique properties suitable for specific applications. The packaging sector is a major consumer of labels, with food, beverage, and pharmaceutical industries being key contributors to the market's growth.
The use of labels helps in product identification, branding, and regulatory compliance, making them an essential component in various industries. The market is a dynamic and evolving industry, encompassing various materials such as glass, metals, wood, natural rubber, plastics, plastic resins, and their derivatives like polystyrene (PS), polyethylene (PE), polypropylene (PP), polybutylene terephthalate (PBT), polyphenylene oxide (PPO), polyurethane (PU), polyvinyl chloride (PVC), polyethylene terephthalate (PET), polycarbonate (PC), polysulfone (PSU), polyamide (PA), and polyphenylsulfone (PPSU). These materials are extensively used in the packaging sector to produce various types of labels, including pressure-sensitive, shrink sleeves, and in-mold labels. Plastics, particularly plastic resins, dominate the labels market due to their versatility, cost-effectiveness, and ease of processing.
The rise in demand for colored labeling is the key driver for the growth of the market. Due to the use of color printing on products consumers' response to marketing and promotional activities has increased, which is further growing the demand for color inkjet printing in labeling. With color tag, more than 75% of the visual information on the label is related to color, making the label informative and attractive to customers, and allowing companies to effectively market their brands to their customers.
The need to support color label printing is growing across all industries to meet the evolving needs of corporate brands and customers. companies are involved in introducing devices that enable high-quality printing and system integration for the industries. Moreover, color tag can also solve problems associated with transporting dangerous goods. Hence, this is expected to increase the demand for color labels and drive the growth of the global label market during the forecast period.
Increased implementation of barcode label printers is the primary trend in the global market. Barcodes are an important method of product identification and primary tracking technology. They are important for supply chain management as they document and protect a variety of information, including information about product manufacturing dates, locations, lot numbers, and expiry dates. The demand for barcode tags is increasing in the global food and beverage industry, where pressure-sensitive tags with 2D and 3D barcode technology are the preferred industry choice.
Moreover, 2D barcode tags can be identified and read using mobile phones through quick response (QR) code. The ability to read 2D barcodes on tags with mobile phones to retrieve information about products is slowly reducing the demand for dedicated readers across the logistics industry. Release liner-based adhesive tags can easily incorporate this technology. Therefore, the implementation of 2D and 3D barcodes has become a major trend in the global label market. Hence, such factors are driving the market during the forecast period.
An increase in the prices of raw materials is the major challenge that affects the growth of the global market. Prices of raw materials such as paper, plastic resin, adhesive, additives, pulp, etc. have increased. The rise in this price increases pressure on both the label supplier and the buyer. Therefore, the raw material price increases the production cost of the label. In addition, market players cannot increase the price of tags in the market, which leads to reduced profit margins for them.
In addition, the price of additives is also expected to rise, further impacting product label prices. Therefore, companies in the global label market are raising the prices of their tags in order to maintain their profit margins. This leads consumers to feel that the tags are too expensive, leading to lower sales volumes. Hence, fluctuations in raw material costs and price wars due to the availability of alternative tags will impede the growth of the global label market during the forecast period.
The labels market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the labels market growth analysis report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
3M Co.: The company offers 3M Thermal Transfer Label Material.
The labels market research and growth report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak. Analyzing the label market size reveals trends in the industrial labels market. The labeling industry is evolving, driven by labels market trends and industrial labels market analysis, showcasing the sector's growth.
The market encompasses various materials, including glass, metals, wood, natural rubber, plastics, plastic resins, and their subtypes. Among these, plastics and their acrylic resins, such as polystyrene (PS), polyethylene (PE), polypropylene (PP), polybutylene terephthalate (PBT), polyphenylene oxide (PPO), polyurethane (PU), polyvinyl chloride (PVC), polyethylene terephthalate (PET), polycarbonate (PC), polysulfone (PSU), polyamide (PA), and polyphenylsulfone (PPSU), dominate the market. Plastics find extensive applications in the packaging sector, where they help reduce carbon emissions by replacing heavier materials like glass and metals. In packaging self-adhesive labels, PE, PET, and PVC are widely used due to their cost-effectiveness and versatility.
Beyond packaging, plastics are integral to the building & construction industry, where they are used in various applications such as insulation, piping, and roofing. In the medical devices segment, plastics like polyamide and polycarbonate are crucial due to their strength, durability, and biocompatibility. The warning label market is influenced by factors such as petrochemical and crude oil prices. Technologies like injection molding, thermoforming, and blow molding are used to manufacture various plastic products. The market landscape depends on elements like acrylonitrile butadiene styrene (ABS), polyether ether ketone (PEEK), the North American plastics market, the National Health Service, engineering plastics, the UN Environment Program (UNEP), acrylonitrile butadiene styrene, China Petroleum, and epoxy polymers. Additionally, the label market also caters to emerging sectors like electric vehicles (EVs), where plastics like polyethylene and PET are extensively used. The Clean Seas campaign, aimed at reducing plastic waste in the ocean, has further emphasized the importance of recycling and sustainable plastic production.
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Market Scope |
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Report Coverage |
Details |
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Base year |
2023 |
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Historic period |
2018 - 2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 5.97% |
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Market growth 2024-2028 |
USD 13.17 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
5.28 |
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Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 44% |
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Key countries |
China, US, Japan, Germany, and France |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
3M Co., Allcan Label, Amcor Plc, Avery Dennison Corp., Berry Global Inc., CCL Industries Inc., Cenveo Worldwide Ltd., Classic Label Inc., CMC Group Inc., Edwards Label Inc., Huhtamaki Oyj, Intertape Polymer Group Inc., LINTEC Corp., Mativ Holdings Inc., Mondi Plc, Multi Color Corp., Pdc International Corp., Progressive Label Inc., Smyth Companies LLC, and WestRock Co. |
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Market dynamics |
Parent market analysis, Market forecasting, market growth and trends, market report, market forecast, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, Market growth and Forecasting, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our labels market forecast report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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