Ottawa, June 19, 2024 (GLOBE NEWSWIRE) -- The global industrial labels market size is predicted to increase from USD 28.65 billion in 2023 to approximately USD 48.50 billion by 2033, According to Towards Packaging a sister firm of Precedence Statistics.
Increasing awareness about authenticity of branded products, compliance to adhere the stringent regulations set by government for safety and security purpose fueling the growth of the industrial labels market across the globe.
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Industry at Glance
Industrial labels market has witnessed a rapid surge in the recent years owing to the increasing demand for long-lasting and efficient labelling solution which needed among various industries such as automotive, manufacturing, aerospace, logistics and pharmaceuticals. Labels hold utmost importance in a spectrum of sectors due to the transparency they provide to consumers about the products and ingredients in them which makes it convenient for the customers to buy products according to their need.
Moreover, increasing technological advancements in labeling play a critical role as it provides identification and tracking of the products. These labels are made from durable materials such as plastics and polymers so that they can be withstand in the continuously changing state of climate. Changes in temperature, humidity, certain chemicals exposure and abrasion can affect the durability of labels, thus it is necessary to make them from materials that are adaptable in nature to certain degree of changes. Hence, these labels are available in many types like self-adhesive, heat-shrink labels, temperature-resistant labels, technically sound labels like RFID labels, security labels and others.
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Key Pointers
- Asia Pacific led the market with the largest revenue share of 36.07% in 2023.
- North America is expected to expand at a solid CAGR of 5.27% during the forecast period.
- By type, the warning/security labels segment has held a major revenue share of 30.21% in 2023.
- By end-use, the food and beverage industry segment show significant expansion in the industrial labels market.
The Notable Expansion of the Industrial Labels Market
Industrial labels play crucial roles across several industries ranging from aerospace to automotive due to their benefits to provide relative information about the products such as essential data and warnings on labels, expiry and manufacturing dates, safety measures and regulatory compliance.
The aerospace industry requires efficient labelling for identification of the component, tracking information in real-time and to maintain the stringent regulations as it involves a high-risk factors including huge amount is invested in the aerospace projects. Hence these labels must be able to withstand the extreme climatic changes that happen when any space vehicle travels from a different level of atmospheric pressure.
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- For instance, European military logistics completely depends upon the précised data on labelling and detailed documentation by following the stringent safety regulations aligned with NATO for better supply chain management, identification of potential threats with efficient tracking which eventually leads to successful mission.
Medical sector also relies heavily on the customized industrial labelling as these labels comes with critical data and details about medical products, instruction about usage so that to assure safety and efficiency of the products specifically for medical professionals.
Advancements Transforming Industrial Labels Landscape
The major advancement in industrial labels which transforms the market’s landscape is industrial labels have evolved into dynamic tools to provide valuable information which ensures productivity and enhanced efficiency. Modern industrial labels help streamline the workflows as they can retrieve real-time information about equipment status, operational parameters and maintenance for schedule. This further helps in reducing the downtime and enhances complete productivity which in turn makes industrial process effortless and precise.
Additionally, it is essential to develop and maintain connectivity between central control system and products/equipment as, this connectivity facilitates remote monitoring, predictive maintenance and decision making based on generated data. This connectivity can be achieved by integration of smart industrial labels with cutting edge technologies like IOT networks. Hence, industrial labels have become an integral aspect of the industrial revolutions like industry 4.0. By embracing such advancements is thus essential to stay updated and competitive in the global industrial labels market.
Food and Beverage Industry Segment to Grow at a Rapid Pace
Ensuring products identity with specific brand to avoid pirated products by brands name is essential in terms of safety and authenticity purpose. Here precise labelling plays a pivotal role in achieving it. Hence label manufacturers embracing advanced technologies like RFID labelling even in the food and beverages industry which propels the industrial labels market growth further. Overall, by end use, the food and beverage industry seen to have significant growth in the market globally.
Additionally, FID technology would not be affected by the sudden changes in the environment, and it operates autonomously to read a wide range of data, which is essential in the retail sector. These labels aid in maintaining the brand value and its authenticity and help enterprises in sync with the inventory control process and their maintenance.
Warning/security Labels Segment to Continue its Dominance
Based on the type of industrial label, the warning/security labels accounted to hold largest market share due to the safety standards and regulations set by authorities like ANSI, ISO and various industries should strictly adhere these regulations further increases the importance of authenticity of products and eventually propels the industrial labels market on a wider scale.
Environmental Concerns Create Hurdle for the Market’s Growth
The major setback an industrial label market is experiencing is the increasing concern about disposal of labels made from materials that are not bio-degradable like polyester and plastic. Such materials can pose challenges for environmental safety and create possible hazards to the biodiversity in nature including a variety of plants, marine bio-species and animals from different regions. There is an enormous floating mass of plastic in the Pacific Ocean, twice the size of Texas, that continues to grow.
Since plastic is considered as a most hazardous material on the earth, many environmentalists firmly oppose use of plastics in any form and demand to banned it from the market which creates a ripples world widely in the form of stringent regulations imposed by governments in major regions.
Increasing Focus on Customization/Branding to Open Lucrative Opportunities for the Industrial Labels Market.
The industrial labels market offers several innovative methods to promote branding and customization for specific enterprises which helps create a lucrative opportunity in the market. As branding plays pivotal role in the market to engage audience and gain trustworthiness among people. This can be achieved by integrating the technologies like QR code, RFID with the smart labels paving the ways to create new possibilities for efficient labelling which in turn helps in improved tracking of products, maintaining records, authenticity and supply chain management.
- For instance, in January 2023, labelTac, a provider of industrial label printing solutions is acquired by brady corp. This acquisition helps brady corp. To expand its portfolio in the market by its product offerings and to connect with new consumers.
Moreover, increased growth of industries such as healthcare, food and beverages, automotive, electronics-commerce holds untapped potential to create number of opportunities for label manufacturers to serve best possible services for different needs of various sectors which further propels the industrial labels markets growth exponentially.
Industrial Labels Market News
- In February 2023, 3M launched industrial labels made to be more resistant to harsh environments. These labels are made from a new material that is said to be twice as strong as traditional industrial labels.
- In November 2022, Avery Dennison launched a new line of smart industrial labels. These labels are equipped with sensors that can track the location and condition of assets.
Asia Pacific Dominates the Market Due to Developing Economies
Asia pacific dominates the industrial labels market with highest revenue shares registered due to frequent usage of various labelling solutions across several industries in the region. Emerging economies like India, China, Japan in the Asia pacific play pivotal roles in the markets expansion owing to the increased turnover in the various industries like automotive, healthcare and e-commerce in the Asia pacific.
North America is anticipated to grow significantly during the foreseeable period. This growth is attributed to the imposed stringent regulations by government in the north America to ensure safety and transparency for variety of products across major industries and adoption to the emerging technologies like RFID, IOT in the development for smart industrial labels.
Uncover More Perspectives Regarding Towards Packaging:
- The global FMCG packaging market size prognosticated to elevate from USD 712.30 billion in 2022 to attain a calculated USD 1,234.07 billion by 2032, stretching at 5.6% CAGR between 2023 and 2032.
- The global connected packaging market size is predicted to climb from USD 42.89 billion in 2022 to hit a presumed USD 74.30 billion by 2032, escalating at a 5.7% CAGR between 2023 and 2032.
- The global bulk container packaging market size is estimated to grow from USD 3.70 billion in 2022 to reach an estimated USD 9.31 billion by 2032, growing at a 9.7% CAGR between 2023 and 2032.
- The global contract packaging market size is speculated to escalate from USD 76.84 billion in 2022 to reach a conjectured USD 168.22 billion by 2032, broadening at a 8.2% CAGR between 2023 and 2032.
- The global returnable glass bottle market size is calculated to go up from USD 5.24 billion in 2022 to accomplish a supposed USD 9.35 billion by 2032, enlarging at a 6% CAGR between 2023 and 2032.
- The global pharmaceutical contract packaging market size is forecasted to expand from USD 14.21 billion in 2022 to achieve an approximation USD 36.11 billion by 2032, escalating at a 9.8% CAGR between 2023 and 2032.
- The global polyethylene films market size is forecasted to expand from USD 90.19 billion in 2022 to accomplish a supposed USD 139.98 billion by 2032, increasing at 4.5% CAGR between 2023 and 2032.
- The global coffee bags market size is speculated to escalate from USD 591.70 million in 2022 to realize an expected USD 1,015.47 million by 2032, multiplying at 5.6% CAGR between 2023 and 2032.
- The global pharmaceutical glass packaging market size is envisaged to surge from USD 18.12 billion in 2022 to acquire an anticipated USD 41.92 billion by 2032, advancing at 8.8% CAGR between 2023 and 2032.
- The global confectionery packaging market size is envisioned to advance from USD 10.34 billion in 2022 to secure a forecasted USD 14.65 billion by 2032, flourishing at a 3.6% CAGR between 2023 and 2032.
Top Companies in the Industrial Labels Market
- Avery Dennison Corporation (US)
- 3M Company (US)
- CCL Industries Inc. (Canada)
- Brady Corporation (US)
- UPM-Kymmene Corporation (Finland)
- Herma GmbH (Germany)
- Sato Holdings Corporation (Japan)
- Tesa SE (Germany)
- Multi-Color Corporation (US)
- LINTEC Corporation (Japan)
- Cenveo Corporation (US)
- Schreiner Group GmbH & Co. KG (Germany)
- H.B. Fuller Company (US)
- Fuji Seal International, Inc. (Japan)
- DUNMORE Corporation (US)
- Mactac Americas (US)
- Resource Label Group LLC (US)
- Ritrama S.p.A. (Italy)
- Sika AG (Switzerland)
- ITW
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