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Smart Labels Market Expected to Expand More than Three Fold through 2030. CAGR to be registered at 13%. – Future Market Insights

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Smart Labels Market Expected to Expand More than Three Fold through 2030. CAGR to be registered at 13%. – Future Market Insights

October 29
22:00 2020
Smart Labels Market Expected to Expand More than Three Fold through 2030. CAGR to be registered at 13%. - Future Market Insights

Future Market Insights
Global smart labels market is slated to expand at a value CAGR worth 12.9% from 2020-2030. RFID labelling to witness prolific adoption, comprising almost 60% of the revenue share by 2030

The smart labels market is expected to unfold by 3.36x with US$ 18 billion through 2030. When talking about packaging market, adoption of smart labels is gaining maximum traction in Asian-Pacific region. Due to the increment in need for convenient packaging solutions in food and beverage or retail industries, demand is gaining popularity in the market.

“Availability of wide range of printing technologies, improved communication network and higher preference for sustainable packaging solutions across the world, demand for smart labels has escalated in a dexterous manner. This has also helped the manufacturers get an insight about the kind of production this market demands,” says the FMI Analyst.

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Smart Labels Market – Key Highlights

  • Asia-Pacific region is dominating the market and is expected to register highest CAGR of 14% among others.
  • According to research analysts at FMI, smart labels market is expected to expand by 3.36x with a CAGR of 13% through 2030.
  • Logistics industry is likely to accent revenue and witness a four-fold growth through the forecast period.
  • Flexographic printing technology will cover most of the market in digital label printing due to cost effectiveness and easy use.

Smart Labels Market – Driving Factors

  • Automotive, logistics, healthcare, aerospace and FMCG products require smart labels for packaging solutions.
  • Internet of things, better network technologies and increased access to smartphones is driving the market.
  • Rising disposable income, improving lifestyle and escalating demand for meat products and sea food is widening the demand/supply chain and bringing in new opportunities.
  • The alcoholic beverage industry demands immense use of smart labels to identify date of manufacturing and expiry dates.

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Smart Labels Market – Key Restraints

  • Lack of awareness about advanced technology and growing cases of poverty is likely to restrict the market growth.
  • Higher investment values and expensive nature of small and medium enterprises is acting as a major hindrance.

Expected Impact on Market by Coronavirus Outbreak

Smart Labels market might experience considerable pressure due to reduced production. In times like these, social distancing and proper hygiene is demanded. The packaging market has always been in demand therefore healthcare and FMCG industry might revive soon to the pre-pandemic position. Value added features like cost-efficiency and user-friendly technology is gaining traction. There will be a surging demand for COVID-19 testing kits, masks and gloves which will be up taken by packaging industries too, thereby, helping the market in witnessing steady growth.

Competition Landscape

Key manufacturers are incorporating innovative techniques like organicprinting and packaging to enhance market growth. Major players in the marketHoneywell International Inc., Avery Denison Corporation, CCL Industries Inc.,Zebra Technologies Corporation, SATO Holdings Corporation, Checkpoint SystemsInc.,Thin Film Electronics ASA, Muehlbauer Holding AG, Invengo Technology

For an instance, key companies are focusing on adopting better printing technologies and patterns without any signs of deterioration. Manufacturers are investing in expanding product portfolio to maintain a better mark.

For example, Avery Dennison Corporation has introduced eco-friendly and biodegradable tags. This feature helps in eliminating micro plastics and harmful substances.

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Table Of Content

1. Executive Summary

    1.1. Global Market Outlook

    1.2. Market Analysis

    1.3. Analysis and Recommendations

2. Market Overview

    2.1. Market Coverage

    2.2. Market Definition

3. Global Smart Labels Market Demand Analysis 2015–2019 and Forecast, 2020–2030

    3.1. Historical Market Volume (Units) Analysis, 2015–2019

    3.2. Current and Future Market Volume (Units) Projections, 2020–2030

    3.3. Y-o-Y Growth Trend Analysis

4. Global Smart Labels Market – Pricing Analysis

    4.1. Regional Pricing Analysis

    4.2. Pricing Break-up

    4.3. Global Average Pricing Analysis Benchmark

5. Global Smart Labels Market Demand (Value in US$ Mn) Analysis 2015–2019 and Forecast, 2020–2030

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Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centres in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and take critical decisions with confidence and clarity amidst breakneck competition.

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