DUBAI, United Arab Emirates, Feb. 22, 2022 (GLOBE NEWSWIRE) -- The global Smart Labels Market is valued at around US$ 9.5 Bn in 2022, registering Y-o-Y growth of 9.6%. Sales of smart labels are projected to increase at a healthy CAGR of 11.2% and attain a valuation of US$ 24.8 Bn by 2030.
The global Smart Labels Market is forecast to reach a valuation of nearly US$ 25 Bn by 2030, registering an US$ 18 Bn incremental opportunity. Growth is majorly underpinned by a flourishing organized retail sector across developing and developed countries.
| Smart Labels Market Size (2022) | US$ 9.5 Bn |
| Sales Forecast (2030) | US$ 24.8 Bn |
| Global Market Growth Rate (2022 to 2030) | 11.2% CAGR |
| Share of Top 5 Smart Label Manufacturers | 55% |
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Ascending disposable incomes owing to rapid urbanization and improving living standards is stimulating demand for various consumer goods across the traditional and e-commerce retail segments respectively. There is an increase in footfalls across brick and mortar stores for purchasing various products.
As a result, demand for proper packaging solutions is on the rise. Manufacturers are abandoning conventional barcodes in favour of advanced smart label solutions such as RFIDs and NFCs to provide clear information regarding product formulation, expiry and manufacturing process.
Key Takeaways from the Smart Labels Market Report
- Global smart labels market is slated to expand at a value CAGR worth 11.2% from 2022-2030
- RFID labelling to witness prolific adoption, comprising almost 60% of the revenue share by 2030
- Digital printing technology is likely to acquire 480 BPS attributed to the need for clear labelling and information provision
- Retail & logistics industries to collectively account for over half of the revenue share
- North America to remain market hegemon, APEJ to register a dexterous growth trajectory
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Scope of the Report
| Attribute | Details |
| Forecast Period | 2022-2030 |
| Historical Data Available for | 2015-2021 |
| Market Analysis | Value in US$ Mn, Volume in Units |
| Key Regions Covered | • North America • Latin America • Europe • East Asia • South Asia & Pacific • Middle East & Africa (MEA) |
| Key Countries Covered | • U.S. • Canada • Mexico • Brazil • Mexico • Argentina • Germany • Italy • France • U.K • Nordic • Spain • Japan • China • India • Malaysia • Thailand • Australia • GCC Countries • South Africa • Turkey |
| Key Market Segments Covered | • Labelling Technology • Printing Technology • End Use • Region |
| Key Companies Profiled | • Honeywell International Inc. • Avery Denison Corporation • CCL Industries Inc. • Zebra Technologies Corporation • SATO Holdings Corporation • Checkpoint Systems Inc. • Thin Film Electronics ASA • Muehlbauer Holding AG • Invengo Technology Pte. Ltd. • OPRFID Technologies • MPI Label Systems |
COVID-19 Impact Analysis
In spite of witnessing a major slump across key industry verticals, the market for smart labels is anticipated to remain sustained in the wake of surging demand for processed foods, healthcare consumables and FMCGs.
Consumers are availing the aforementioned products via e-commerce channels due to social distancing, which requires vendors to package and label the goods properly and deliver them to their customers. Hence, RFID and QR aided labelling are witnessing widespread adoption.
During this unprecedented era when personal hygiene takes precedence over everything else, it is imperative for manufacturers to ensure that healthcare and disinfectant products are adulteration free, thus increasing the need for proper inventory tracking solutions, thus uplifting smart labels growth prospects.
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Key Segments Of Smart Labels Industry Survey
By Labelling Technology:
- RFID
- NFC Tags
- EAS
- Sensing Labels
- Electronics Shelf Labels
By Printing Technology:
- Flexographic Smart Labels
- Digital Smart Labels
- Gravure Smart Labels
- Screen Smart Labels
By End Use:
- Smart Labels for Healthcare
- Smart Labels for Automotive
- Smart Labels for FMCG
- Smart Labels for Logistics
- Smart Labels for Retail
- Others
By Region:
- North America Smart Labels Market
- Latin America Smart Labels Market
- Europe Smart Labels Market
- East Asia Smart Labels Market
- South Asia & Pacific Smart Labels Market
- Middle East & Africa (MEA) Smart Labels Market
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Who is winning?
Prominent players in the global smart labels landscape are Avery Dennison Corporation, Honeywell International Inc., Zebra Technologies Corporation and CCL Industries Inc. These players collectively capture 15-20% of the revenue share.
Their primary strategies include product launches, expansion of product portfolios and strategic collaborations and acquisitions.
Explore FMI’s Extensive ongoing Coverage on Packaging Domain
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Wrap Around Label Films Market - The global wrap around label films market is expected to rise at a CAGR of ~5.9%, during the forecast period. The wrap around label films market is expected to witness a soaring growth in 2021 with revenues up 5.4% each year.
Labelling Machines Market - The global labeling machines market is expected to grow at a compound annual growth rate (CAGR) of 7.0% from 2021 to 2031. Additionally, the presence of several regulations pertaining to labeling and serialization is further likely to have a positive impact on the market growth.
Direct Thermal Linerless Labels Market - Newly released data from direct thermal linerless labels market analysis shows that global demand for thermal labels market is forecasted to expand at a value compound annual growth rate (CAGR) of 5% from 2021-2031.
Thermal Labels Market - Labels are a necessary accessory for the packaging domain across all major industries. Thermal labels are used in major industries such as food and beverage, pharmaceuticals, electrical and electronics, retails and industrial.
Self-Laminating Labels Market - The self-laminating labels are the water, oil, and dirt-proof labels which can be used on any products. The self-laminating labels are extremely versatile and durable. These labels remain long-lasting which safeguards the printed or written data for a longer period of time.
Shrink Sleeve Labeling Equipment Market - The most profitable advantage for the companies by using shrink sleeve labeling machines is that, it eliminates the use of printing plates that were otherwise required for other labeling machines.
Pre-gummed Labels Market - A pre-gummed label is a piece of paper or other material which is already glued while manufacturing, that may give the information about the object it is attached to when printed which is an informative element for both, packaging as well as the product.
Canning Labels Market - Food packaging is defined as the organised way of preparing food for storage, distribution and retailing to satisfy the consumer with optimal cost in a convenient way and canning is an important part of the food packaging system.
Top Labelling Equipment Market - Labeling a product creates its identity which associates it with the brand owners. Thus, labelling is an essential element of packaging a product. Top labeling is an equipment which aims at improvising the modern production process.
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