According to Future Market Insights research, during the projected period, the global specialty labels packaging market is set to enjoy a valuation of US$ 5.6 Billion in 2022, and further expand at a CAGR of 5.0% to reach US$ 9.1 Billion by the year 2032. The specialty label packaging is anticipated to bolster with the top 5 providers holding 15% to 20% of the global specialty label packaging market in 2021.
Based on the material, the paper segment is projected to remain the leading among the other materials used for manufacturing specialty label packaging. The paper segment is estimated to hold around 46% by the end of 2022.
| Attributes | Details |
|---|---|
| Market Size 2022 | US$ 5.6 Billion |
| Market Size 2032 | US$ 9.1 Billion |
| Value CAGR (2022 to 2032) | 5.0% |
| Collective Value Share: Top 3 Countries (2022E) | 25% to 30% |
According to the FMI analysis, the specialty labels packaging market revenue totaled US$ 5.4 Billion in 2021. With the propelling demand from the various end-use industries, the global specialty labels packaging market is projected to reach US$ 9.1 Billion by 2032, accelerating at a CAGR of 5.0% during the forecast period.
The specialty labels packaging market is estimated to experience a positive growth outlook during the forecast period. A new forecast by FMI anticipates that specialty labels packaging sales will rise from 2022 to 2032 and is projected to create an absolute incremental growth opportunity of US$ 3.8 Billion.
The significantly changing food & beverages industry amid the pandemic has increased the demand for specialty labels packaging. The specialty labels packaging market is anticipated to expand 1.7 times the current market value during the forecast period.
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The global specialty labels packaging market witnessed a CAGR of 4.4% during the historic period with a market value of US$ 5.4 Billion in 2021.
Specialty labels packaging is a type of packaging that is designed for a specific type of product. This type of packaging is often used for delicate products or requiring special care. They can be made from a variety of materials, including paper, plastic, or foil, and can be printed using a variety of printing methods, such as digital, flexographic, or offset. Specialty labels can be used for a variety of purposes, including product identification, branding, and marketing.
The constantly growing food & beverage, as well as the food service industry, is predicted to drive the demand for specialty labels packaging. The increased usage of packed food creates a growth opportunity for the specialty labels packaging market. Overall, the global specialty labels packaging market is projected to boost at a faster pace during the forecast period.
Labels are generally used to inform consumers about credentials, directions for use, warnings, etc. The increased demand for packed food is driving the market for specialty label packaging as labels play a significant role in every industry for packaging and the shelf life of labels has become a perilous concern for the manufacturer as well as consumers.
The specialty labels market is growing due to the increasing demand for high-quality and durable labels. Specialty labels are used for a variety of applications, including products such as boxes, pouches, pallets, and many others. They are also used for safety and security purposes. The above-mentioned factors are propelling the demand for specialty labels packaging and driving the market, thus specialty labels packaging market is expected to grow over the upcoming decade.
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Based on the material segment, the paper segment holds the major portion of the global specialty labels packaging market. The targeted segment is predicted to grow 1.6x the current market value from 2022 to 2032. Paper is widely used in specialty labels packaging due to its low cost and easy availability.
Paper labels are used in various applications such as food & beverage, healthcare, and consumer goods. This is due to the massive benefits attained from paper material such as easy recyclable properties, ease of use and good tear stability are prompting segments such as pressure-sensitive labels.
As per FMI analysis, the end-use industry that offers lucrative growth opportunities for the specialty labels packaging market is food and beverage. The food and beverage industry is the largest consumer of specialty labels packaging. Being an essential industry, there has been a massive spike in demand for packaged food products and beverages from consumers. The industry is growing at a rapid pace due to changing consumer preferences and the need for convenient packaging. Thus, the food & beverage segment is projected to register a CAGR of 5.3% from 2022 to 2032 across the specialty labels packaging market.
The growing Indian paper industry is projected to drive the demand for specialty label packaging and is predicted to boost the market at the rate of 5.7% CAGR during the forecasted period. There has been substantial growth in the packaging industry in India. The reason for it is the abundant availability of raw materials like paper, along with favorable regulations and the business environment required by an industry to prosper.
The data provided by the Indian Paper Manufacturers Association (IPMA), approximately 71% of paper is made from recycled fiber, and the Indian paper industry is growing at a faster pace due to technology and innovation. Paper is used in the packaging industry as the paper is most used material in the specialty labels packaging market, the growing paper industry is expected to increase the production of specialty labels packaging and is projected to drive the specialty labels packaging market across India.
FMI analysis states that the USA is anticipated to account for around 83% of the North American specialty labels packaging market by the end of 2022. Factors such as growing environmental concerns and consumer preference for packaged products are driving sustainable label sales.
The high recycling rate of paper in the USA is driving the market for specialty labels packaging. The USA Environmental Protection Agency (EPA) reports that the recycling rate for paper and paperboard products was 68.2% in 2018. This increase in the recycling rate is due to the growing demand for recycled paper and paperboard products.
The high recycling rate of paper in the USA is driving the market for specialty labels packaging because recycled paper and paperboard products are used to make these labels. Many companies are using recycled paper to make their labels because it is a sustainable and environmentally friendly option.
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The key players operating in the specialty labels packaging market are trying to focus on increasing their sales and revenues by expanding their capabilities to meet the growing demand. The key players are trying to adopt a merger & acquisition strategy to expand their resources and are developing new products to meet customer needs. Also, the players are focusing on upgrading their facilities to cater to the demand. Some of the recent key developments by the leading players are as follows-
| Attribute | Details |
|---|---|
| Growth Rate | CAGR of 5.0% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2015 to 2021 |
| Forecast Period | 2022 to 2032 |
| Quantitative Million Sq. M. | Revenue in USD Billion, Volume in Million Sq. M., and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Material Type, Printing Technique, Ink Type, End Use, Region |
| Regions Covered | North America; Latin America; Europe; East Asia; South Asia; Middle East and Africa; Oceania |
| Key Countries Covered | USA, Canada, Mexico, Brazil, Germany, United Kingdom, France, Italy, Spain, Russia, China, Japan, India, GCC countries, Australia |
| Key Companies Profiled | WestRock Company; CCL Industries; LUX Global Label; S. Anand Packaging Pvt. Ltd.; Sai Impression; All4Labels Global Packaging Group; LABEL TECH INC.; Consolidated Label Co.; Label Tech, Inc.; Specialty Inc.; AWT Labels & Packaging; Vistaprint; HERMA GmbH; Sticker Mule;Inkmonk; SheetLabels.com; StickerYou; Packhelp; Resource Label Group, LLC; Paramount Labels |
In 2021, the value of the global specialty labels packaging market was US$ 5.4 Billion.
During the forecast period, the global specialty label packaging market is anticipated to expand at a CAGR of 5.0%.
The global specialty labels packaging market is expected to reach US$ 9.1 Billion by the end of 2032.
During the forecast period, paper material is likely to be the fastest-growing material segment in the global specialty label packaging market.
The specialty label packaging market is growing due to the increasing demand for high-quality and durable labels.
HERMA GmbH, CCL Industries, WestRock Company, LUX Global Label, and All4Labels Global Packaging Group are the top players supplementing the sales of specialty label packaging.
As per the FMI analysis, the Indian specialty label packaging market is projected to expand at a CAGR of 5.7% from 2022 to 2032.
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