February 28, 2024

Print Label Market Propelled by Digital Printing Gaining Traction

Print labels are a crucial part of branding and marketing activities used for product identification and advertisements across varied end-use industries including food and beverages, chemicals, home and personal care, etc. Print labels provide product information and branding in a cost-effective manner. Digital printing technology has emerged as a attractive solution for print labels owing to benefits such as low setup costs, variable data printing, and on-demand short runs.

The global Print Label Market is estimated to be valued at US$ 86.3 billion in 2023 and is expected to exhibit a CAGR of 9.0% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

Key advantages of digital printing for labels include lower setup costs, variable data printing capabilities, and ability to print small batches economically. Furthermore, digital printing does not require plates or screen printing and enables on-demand printing in shorter turnaround times. Owing to these advantages, digital printing is emerging as a preferred solution for print labels requiring customization, versioning, and handling variations for product information, ingredients, nutrition facts etc. The technology is expected to witness robust adoption over the forecast period and significantly contribute to growth of the global print label market.

SWOT Analysis
Strength: Print labels are cost effective and provide high-impact branding and marketing for products and packaging. They also have the advantage of being able to include more information and graphics compared to other labeling solutions.

Weakness: Extended printing time and the use of consumables like ink and paper increase production costs. Frequent design changes can add to costs due to remake of printing plates and tooling.

Opportunity: Growing e-commerce industry is driving the need for individualized labels and versatile short-run labeling. Emerging technologies expanding print capabilities offer opportunities for premium labels and customized designs.

Threats: Stringent regulations around materials used for food contact applications may restrict viable labeling options. Digital printing gaining ground poses a potential threat by streamlining design workflows and reducing turnaround times.

Key Takeaways
The global print label market is expected to witness high growth driven by expanding end-use industries.

North America currently dominates the market attributed to high demand from food, beverage, pharmaceutical, personal care and other manufacturing sectors in the region. The market is projected see fastest gains in Asia Pacific with countries like China, India and Southeast Asian nations emerging as major hubs for label production.

Key players operating in the print label market include Avery Dennison, CCL Industries, Multi-Color Corporation, Constantia Flexibles GmbH, Coveris Holdings S.A., Huhtamaki Oyj, Sonoco Products Company, Bemis Company, Inc., Flexo Print USA, and Vintech Polymers Pvt. Ltd. Consolidation activities among pressure sensitive label makers are helping these companies expand globally and provide innovative solutions across end-use segments. Narrow web flexographic printing is the dominant technology utilized due to advantages of producing customized short-run labels at high speeds. However, digital printing is gaining popularity offering sustainable options with versatile designs and reduced waste. The future outlook remains positive with brand owners increasingly recognizing labels as a critical element in enhancing consumer engagement and purchase decisions.

Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it