According to a research survey conducted by ChemView Consulting, in 2022, the Global Smart Labels Market was worth US$ 175.3 Bn and is expected to grow at a CAGR of 5.8% over the forecast period. The market is expected to hit US$ 275.2 Bn by 2030 end.
It has been predicted that the smart label industry will grow significantly in the upcoming years. The obvious increase in industrial alliances is blamed for the market’s quick expansion. Additionally, it has been predicted that the increasing technical profusion of smart labels would increase the market’s prospects for revenue-generating during the projection period.
People’s rising disposable income in emerging nations has also influenced the market’s development drivers. Real-time tracking capabilities are included with these smart labels. Additionally, automated interpretation and high tolerance improve efficacy and reduce the likelihood of mistakes.
The market is also rising due to increasing technological advances and industry consolidation of the items with a smart label across several industries, such as logistics, food & beverage, manufacturing & retail, and healthcare & pharmaceuticals. These elements suggest that there will be more opportunities for sales in the market for smart labels.
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Segments Covered in Report
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 and Country:
- North America (U.S., Canada)
- Latin America (Brazil, Mexico, Rest of Latin America)
- Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
- Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
- Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
- Africa (South Africa, Nigeria, Egypt, Rest of Africa)
Key Takeaways
- Based on printing technology, flexographic printing was anticipated to have a 36.5% market share for smart labels. Due to its higher production speed, lower cost, and capacity to employ substrate rolls, which facilitates bulk printing, flexographic printing is predicted to be the leading smart label printing technique in the following decade.
- Based on end-use, All other end-use industries are predicted to pale compared to the retail sector. The main growth driver in emerging nations is a thriving organized retail sector.A major end-user of smart labels, the logistics, and transportation sector, is expanding due to the demand for perishable goods. The epidemic has increased demand for ready-to-eat meals and health supplements, which has improved growth prospects.
- Based on region, the market is expected to develop most quickly in the Asia Pacific region during the projected period. It is mostly because of the developing economies in China and India and expanding sectors, including manufacturing, retail, and healthcare. The important firms’ presence in the area is responsible for the growth opportunities in the local market.
Competition Summary
Key companies covered in the market study are 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, and MPI Label Systems.
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Report Key Highlights and Coverage
- Our comprehensive, data-backed, and facts-oriented report provides niche and cross-sectional analysis at global and country levels.
- Assessment of the historical (actual data) and current market size (2017-2021), market projections (2022-2030), and CAGR.
- The market assessment across North America, Europe, East Asia, South Asia & Pacific, Latin America, Middle East, and Africa.
- Competitive tactical intelligence, key strategies adopted by top players, production capacity and company shares analysis, product brand surveys, and export-import analysis
- Pricing analysis to set and benchmark your current or future offerings across each product type helps you understand whether your pricing strategy is aligned with market expectations and can be compared to market disruptions.
- Predictions on critical supply and demand trends and technological expertise needed to address operations scalability.
- Consumer behavior shifts and their implications for players, list of end-users, and their consumption analysis.
- Key drivers, restraints, opportunities, and emerging trends impacting the market growth.
- Value chain analysis (list of manufacturers, distributors, end-users, and average profitability margins).
- Strategic market analysis, recommendations, and future headways on crucial winning strategies.
About ChemView Consulting
ChemView Consulting is a leading information, market intelligence, and business consulting firm serving clients worldwide in Chemical & Materials, Food & Beverage, Oil & Gas, Clean Energy & Power, and Packaging domains. In their business transformation journey, we have been collaborating with global enterprises, including 70% of the largest Forbes 1000 enterprises, helping them deliver on their business ambitions. ChemView Consulting serves clients in approximately 100 countries, with its office in New York, U.S., and Pune, India.
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