Smart Labels Market is expected to reach US$ 9.5 Bn in 2022, likely to surge at a vigorous 11.2% CAGR 2022-2030

Press Release from Future Market Insights

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.

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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 Manufacturers55%

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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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.

Competitive Landscape

Market players are focusing on expanding their global outreach through diversification of product portfolios, collaborations, product launches and doling out customized labelling solutions for various industries.

For instance,

  • In September 2020, Avery Dennison Corporation introduced a completely biodegradable tag fastener for the apparel industry. The tag is highly eco-friendly, being able to decompose upon exposure to soil microbes and leaving behind no micro-plastics or other harmful substances.
  • In November 2020, CCL Industries Inc., a leading player in the smart labels market, announced the acquisition of Super Enterprises Printing (Malaysia) Sdn, a leading supplier of decorative panels, liquid crystal & touch screen display covers, and in-mould decorated components for the consumer electronics and automotive sectors across Asia.

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

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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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About Us

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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Companies Mentioned in this Press Release: