The global label market is estimated at $32.7 billion in 2014, and is forecast to grow to $41.6 billion by 2019, according to a new market study by Smithers Pira.
Labels are an attractive growth market, valued at $32.7 billion globally in 2014, the equivalent of some 909 billion A4 prints. Real growth is forecast over the next five years at an average annual growth rate of 4.9% to 2019. The market development is primarily driven by the changing needs of packaging buyers, trying to serve more consumers. The most widely used labels are pressure sensitive grades, mostly web fed, which account for 64.6% of the market value in 2014, and 56.6% of the print volume.
A new study from Smithers Pira – The Future of Printed Labels Market to 2019 – shows Asia is the largest regional producer of labels and its share will grow between 2009 and 2016 to more than 41% of the world’s value by 2019. Flexography is the most common print process in label production, although digital methods are growing rapidly and taking an increasing share. Labels can help secure and trace items throughout the supply chains, providing tamper evidence, and smart labels can chart the storage conditions of many items. In terms of the end use market, food is by far the biggest category of labels, accounting for 47% of the total in 2014; if beverages are included this rises to 63.9%.
Source: Smithers Pira
This report also highlights potential barriers to label demand, including the use of printed flexible and rigid packaging which eliminates the need for the label. Market needs centre around a push for lower costs, more decoration, variable data, greater durability, better quality and faster turnaround. Label technology is developing, with materials, adhesives and manufacturing application methods to meet the market demands. Label printing is carried out on a wide range of equipment depending on the application and run length. Labels can be supplied in cut sheet stacks or rolls, with web fed increasing for high-speed automatic applicators. All the major printing processes are employed, with digital growing strongly as the technology has improved in productivity and reliability.
'Devise your business strategy'
Based on extensive primary research - The Future of Label Printing Markets to 2019 - examines the key drivers for label demand and looks at how changing print technology is opening up new sectors where digital is rapidly gaining ground. This report will provide you with market sizing information and forecasts broken down by label type, label equipment markets and regional label printing markets and will help you to devise your business strategy to 2019.
The Future of Label Printing Markets to 2019 is available now for £3,950. For more information, please contact Stephen Hill at +44 (0) 1372 802025, or visit www.smitherspira.com
Smithers Pira is the worldwide authority on packaging, paper and print industry supply chains. Established in 1930, Smithers Pira provides strategic and technical consulting, testing, intelligence and events to help clients gain market insights, identify opportunities, evaluate product performance and manage compliance