The thermal labels market value is estimated at US$ 935.24 million in 2023 and is projected to reach US$ 1,494.64 million by 2033, at a CAGR of 4.8% from 2023 to 2033.
The global market revenue was worth US$ 851.5 million for 2021, as per the FMI analysis. The global market is anticipated to reach US$ 1,420.5 million by the end of 2032. The demand for thermal labels accelerates, with the top 3 countries holding 45 to 50% of the global market in 2023.
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The preference for printing the required information on the product or product package is increasing among various industries and consumers. Also, many rules and regulations are imposed by the government on providing important information about the product on the package. These rules are estimated to fuel the demand for various labels, including thermal labels.
The thermal label offers heat and moisture resistance, helping them gain traction among various industries. Increasing e-commerce and retail activities are flourishing the demand for thermal labels for reliable and efficient labeling processes. Moreover, these labels are used for tracking, bar-code, and identifying product information driving the global market.
The food & beverages sector is significantly growing the demand for these labels to ensure proper labeling of perishable food items. The rising population and increasing demand for convenience food drive global market revenue. On the other hand, the healthcare and pharmaceutical industry increases the adoption of thermal labels to manage inventory and medical devices and enhance patients' safety.
The logistics and warehousing sector are widely increasing the adoption of thermal labels for packaging, warehousing, international trade, and supply chain networks. The growing e-commerce and online services are expanding the global market.
Advanced printing technologies in thermal labels enhance durability and improve print quality, in turn driving the global market. End users prefer these printing technologies to promote their products and attract consumers.
The end-user industries focus on developing sustainable and eco-friendly labels to reduce environmental impacts. They are developing recyclable thermal labels, which have gained huge popularity among consumers to reduce waste.
| Attributes | Details |
|---|---|
| Market CAGR (2023 to 2033) | 4.8% |
| Market Valuation (2023) | US$ 935.24 million |
| Market Valuation (2033) | US$ 1,494.64 million |
Principal Consultant
The global market registered a CAGR of 4.8% from 2023 to 2033. The period marked the entry of various market players, many of whom focused on product innovations driven by the global market.
Thermal labels are flexible, attractive, durable, printable, affordable, lightweight, safe, convenient, and sustainable packaging solutions. The thermal labels market is booming due to the increasing focus on functional use and recyclability of packaging solutions.
Direct thermal labels are in high demand at present. Thermal labels are used in various industries like food & beverages, healthcare, semiconductors & electronics, and others (industrial). Single-use packaging also is the talk of the town.
The biodegradable and fully recyclable paper thermal label packaging market is growing as an alternative to the traditional thermal label market.
The market has minimal barriers from a macroeconomic point of view. However, there are concerns related to rising costs. Besides this, market players aim to keep up with technological changes to make packaging attractive and functional.
With advanced machine learning in a run-through and the introduction of robotics, notable industrial growth is on the card globally. It is anticipated to fuel the market of thermal labels.
The direct thermal labels segment held a share of almost 63% in the global market in 2021 in terms of labels. Demand for direct thermal labels is estimated to expand by 1.5x the current market value by the end of 2033. The same is because these labels make the packaging look attractive and functionally sound.
Direct thermal labels are cost-efficient and are mostly used in shipping, warehousing, and cartons or places with a high level of moisture or rough handling.
Based on application, the food & beverages sector is expected to account for a significant share and is poised to maintain its dominance during the forecast period. The food & beverage segment is anticipated to accelerate at a CAGR of 4.2% in the global market.
The food & beverages sector is notably surging market revenue due to the growing number of online food deliveries. Consumers prefer to buy online food delivery, which makes it easy to enjoy their meals at home without hassle. The food industries prepare food and attach thermal labels on the packaging to promote their businesses.
Food industries expand their business through distribution networks to transport their food to consumers' residents or offices quickly. Overall, the food & beverage sector is a prior segment that collects huge revenue in the global market by 2033.
The plastic segment is estimated to dominate the global market by material with a 61% market share in 2023, increasing to 63% by 2033 with an increment of US$ 350.1 million.
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As per FMI, the United States market is estimated to total around US$ 267.0 million by the end of 2033, around 19% of the global market. It has been forecasted to witness a CAGR of 3.7% during the forecast period.
The United States accounts for the large global thermal label industry share. Due to the growing need for convenience owing to busy lifestyles and cultural factors, the sales of thermal labels are considerably high in the United States.
A general trend of health consciousness and changing lifestyles lead to increasing demand for food & beverages, thus increasing the demand for thermal labels. Moreover, increased competition leads to cutting prices, thus creating pressure on the cost aspect and a great preference for thermal labels.
India’s thermal labels market is estimated to secure a CAGR of 5.4% from 2023 to 2033. It is anticipated to create an incremental opportunity of US$ 51.7 million from 2023 to 2033.
Thermal label applications in the country's growing food and beverages sector remain a chief growth driver. Besides this, the easy availability of raw materials required for thermal label production and access to labor drive India's thermal label market growth.
Manufacturers can expand the global market in several ways, as follows:
These are a few ways manufacturers can expand the global market by focusing on sustainability and customized product services.
Market players have focused on making their products functional, attractive, sustainable, hygienic, and recyclable. Besides this, they are focusing on strategic collaborations to stay ahead of the game. These players focus on consumer needs and develop products to satisfy their desires.
The key players innovate unique and improved products by investing huge amounts in research and development activities. These players adopt several marketing methodologies to carry out unique ideas to upsurge the global market. These marketing methodologies are mergers, acquisitions, collaborations, product launches, and agreements.
Other Players Operating in the Global Market
Recent Developments in the Global Market
| Attribute | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | US$ billion for Value |
| Key Countries Covered | The United States, The United Kingdom, Japan, India, China, Australia, Germany |
| Key Segments Covered | Material, Label, Application, Region |
| Key Companies Profiled | 3M Company; Henkel AG & Co. KGaA; Honeywell International Inc.; CCL Industries Inc.; Lintec Corporation; Constantia Flexibles Group GmbH; Coveris Holdings S.A.; Inland Label & Marketing Services LLC; Multi Color Corporation; TSC Auto ID Technology Co. Ltd.; Armor Group; Western Shield Label; Zebra; JK Labels |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The United States generated higher demand with a CAGR of 3.7% in 2022.
North America market to grow at a maximum revenue through 2033.
Direct thermal labels segment contributes a share of 63% of total production.
Food & beverages hold 4.2% of the global market share.
From 2018 to 2022, the global market exhibited a 4.8% CAGR.
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Product Life Cycle Analysis
3.5. Supply Chain Analysis
3.5.1. Supply Side Participants and their Roles
3.5.1.1. Producers
3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers)
3.5.1.3. Wholesalers and Distributors
3.5.2. Value Added and Value Created at Node in the Supply Chain
3.5.3. List of Raw Material Suppliers
3.5.4. List of Existing and Potential Buyer’s
3.6. Investment Feasibility Matrix
3.7. Value Chain Analysis
3.7.1. Profit Margin Analysis
3.7.2. Wholesalers and Distributors
3.7.3. Retailers
3.8. PESTLE and Porter’s Analysis
3.9. Regulatory Landscape
3.9.1. By Key Regions
3.9.2. By Key Countries
3.10. Regional Parent Market Outlook
3.11. Production and Consumption Statistics
3.12. Import and Export Statistics
4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033
4.1. Historical Market Size Value (US$ Million) & Volume (Square Meters) Analysis, 2018 to 2022
4.2. Current and Future Market Size Value (US$ Million) & Volume (Square Meters) Projections, 2023 to 2033
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Material
5.1. Introduction / Key Findings
5.2. Historical Market Size Value (US$ Million) & Volume (Square Meters) Analysis By Material, 2018 to 2022
5.3. Current and Future Market Size Value (US$ Million) & Volume (Square Meters) Analysis and Forecast By Material, 2023 to 2033
5.3.1. Paper
5.3.2. Plastic
5.4. Y-o-Y Growth Trend Analysis By Material, 2018 to 2022
5.5. Absolute $ Opportunity Analysis By Material, 2023 to 2033
6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Label
6.1. Introduction / Key Findings
6.2. Historical Market Size Value (US$ Million) & Volume (Square Meters) Analysis By Label, 2018 to 2022
6.3. Current and Future Market Size Value (US$ Million) & Volume (Square Meters) Analysis and Forecast By Label, 2023 to 2033
6.3.1. Direct thermal labels
6.3.2. Thermal transfer labels
6.4. Y-o-Y Growth Trend Analysis By Label, 2018 to 2022
6.5. Absolute $ Opportunity Analysis By Label, 2023 to 2033
7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application
7.1. Introduction / Key Findings
7.2. Historical Market Size Value (US$ Million) & Volume (Square Meters) Analysis By Application, 2018 to 2022
7.3. Current and Future Market Size Value (US$ Million) & Volume (Square Meters) Analysis and Forecast By Application, 2023 to 2033
7.3.1. Food & beverages
7.3.2. Healthcare
7.3.3. Semiconductor & Electronics
7.3.4. Others
7.4. Y-o-Y Growth Trend Analysis By Application, 2018 to 2022
7.5. Absolute $ Opportunity Analysis By Application, 2023 to 2033
8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region
8.1. Introduction
8.2. Historical Market Size Value (US$ Million) & Volume (Square Meters) Analysis By Region, 2018 to 2022
8.3. Current Market Size Value (US$ Million) & Volume (Square Meters) Analysis and Forecast By Region, 2023 to 2033
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. MEA
8.4. Market Attractiveness Analysis By Region
9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
9.1. Historical Market Size Value (US$ Million) & Volume (Square Meters) Trend Analysis By Market Taxonomy, 2018 to 2022
9.2. Market Size Value (US$ Million) & Volume (Square Meters) Forecast By Market Taxonomy, 2023 to 2033
9.2.1. By Country
9.2.1.1. U.S.
9.2.1.2. Canada
9.2.2. By Material
9.2.3. By Label
9.2.4. By Application
9.3. Market Attractiveness Analysis
9.3.1. By Country
9.3.2. By Material
9.3.3. By Label
9.3.4. By Application
9.4. Key Takeaways
10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
10.1. Historical Market Size Value (US$ Million) & Volume (Square Meters) Trend Analysis By Market Taxonomy, 2018 to 2022
10.2. Market Size Value (US$ Million) & Volume (Square Meters) Forecast By Market Taxonomy, 2023 to 2033
10.2.1. By Country
10.2.1.1. Brazil
10.2.1.2. Mexico
10.2.1.3. Rest of Latin America
10.2.2. By Material
10.2.3. By Label
10.2.4. By Application
10.3. Market Attractiveness Analysis
10.3.1. By Country
10.3.2. By Material
10.3.3. By Label
10.3.4. By Application
10.4. Key Takeaways
11. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
11.1. Historical Market Size Value (US$ Million) & Volume (Square Meters) Trend Analysis By Market Taxonomy, 2018 to 2022
11.2. Market Size Value (US$ Million) & Volume (Square Meters) Forecast By Market Taxonomy, 2023 to 2033
11.2.1. By Country
11.2.1.1. Germany
11.2.1.2. U.K.
11.2.1.3. France
11.2.1.4. Spain
11.2.1.5. Italy
11.2.1.6. Rest of Europe
11.2.2. By Material
11.2.3. By Label
11.2.4. By Application
11.3. Market Attractiveness Analysis
11.3.1. By Country
11.3.2. By Material
11.3.3. By Label
11.3.4. By Application
11.4. Key Takeaways
12. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
12.1. Historical Market Size Value (US$ Million) & Volume (Square Meters) Trend Analysis By Market Taxonomy, 2018 to 2022
12.2. Market Size Value (US$ Million) & Volume (Square Meters) Forecast By Market Taxonomy, 2023 to 2033
12.2.1. By Country
12.2.1.1. China
12.2.1.2. Japan
12.2.1.3. South Korea
12.2.1.4. Singapore
12.2.1.5. Thailand
12.2.1.6. Indonesia
12.2.1.7. Australia
12.2.1.8. New Zealand
12.2.1.9. Rest of Asia Pacific
12.2.2. By Material
12.2.3. By Label
12.2.4. By Application
12.3. Market Attractiveness Analysis
12.3.1. By Country
12.3.2. By Material
12.3.3. By Label
12.3.4. By Application
12.4. Key Takeaways
13. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
13.1. Historical Market Size Value (US$ Million) & Volume (Square Meters) Trend Analysis By Market Taxonomy, 2018 to 2022
13.2. Market Size Value (US$ Million) & Volume (Square Meters) Forecast By Market Taxonomy, 2023 to 2033
13.2.1. By Country
13.2.1.1. GCC Countries
13.2.1.2. South Africa
13.2.1.3. Israel
13.2.1.4. Rest of MEA
13.2.2. By Material
13.2.3. By Label
13.2.4. By Application
13.3. Market Attractiveness Analysis
13.3.1. By Country
13.3.2. By Material
13.3.3. By Label
13.3.4. By Application
13.4. Key Takeaways
14. Key Countries Market Analysis
14.1. U.S.
14.1.1. Pricing Analysis
14.1.2. Market Share Analysis, 2022
14.1.2.1. By Material
14.1.2.2. By Label
14.1.2.3. By Application
14.2. Canada
14.2.1. Pricing Analysis
14.2.2. Market Share Analysis, 2022
14.2.2.1. By Material
14.2.2.2. By Label
14.2.2.3. By Application
14.3. Brazil
14.3.1. Pricing Analysis
14.3.2. Market Share Analysis, 2022
14.3.2.1. By Material
14.3.2.2. By Label
14.3.2.3. By Application
14.4. Mexico
14.4.1. Pricing Analysis
14.4.2. Market Share Analysis, 2022
14.4.2.1. By Material
14.4.2.2. By Label
14.4.2.3. By Application
14.5. Germany
14.5.1. Pricing Analysis
14.5.2. Market Share Analysis, 2022
14.5.2.1. By Material
14.5.2.2. By Label
14.5.2.3. By Application
14.6. U.K.
14.6.1. Pricing Analysis
14.6.2. Market Share Analysis, 2022
14.6.2.1. By Material
14.6.2.2. By Label
14.6.2.3. By Application
14.7. France
14.7.1. Pricing Analysis
14.7.2. Market Share Analysis, 2022
14.7.2.1. By Material
14.7.2.2. By Label
14.7.2.3. By Application
14.8. Spain
14.8.1. Pricing Analysis
14.8.2. Market Share Analysis, 2022
14.8.2.1. By Material
14.8.2.2. By Label
14.8.2.3. By Application
14.9. Italy
14.9.1. Pricing Analysis
14.9.2. Market Share Analysis, 2022
14.9.2.1. By Material
14.9.2.2. By Label
14.9.2.3. By Application
14.10. China
14.10.1. Pricing Analysis
14.10.2. Market Share Analysis, 2022
14.10.2.1. By Material
14.10.2.2. By Label
14.10.2.3. By Application
14.11. Japan
14.11.1. Pricing Analysis
14.11.2. Market Share Analysis, 2022
14.11.2.1. By Material
14.11.2.2. By Label
14.11.2.3. By Application
14.12. South Korea
14.12.1. Pricing Analysis
14.12.2. Market Share Analysis, 2022
14.12.2.1. By Material
14.12.2.2. By Label
14.12.2.3. By Application
14.13. Singapore
14.13.1. Pricing Analysis
14.13.2. Market Share Analysis, 2022
14.13.2.1. By Material
14.13.2.2. By Label
14.13.2.3. By Application
14.14. Thailand
14.14.1. Pricing Analysis
14.14.2. Market Share Analysis, 2022
14.14.2.1. By Material
14.14.2.2. By Label
14.14.2.3. By Application
14.15. Indonesia
14.15.1. Pricing Analysis
14.15.2. Market Share Analysis, 2022
14.15.2.1. By Material
14.15.2.2. By Label
14.15.2.3. By Application
14.16. Australia
14.16.1. Pricing Analysis
14.16.2. Market Share Analysis, 2022
14.16.2.1. By Material
14.16.2.2. By Label
14.16.2.3. By Application
14.17. New Zealand
14.17.1. Pricing Analysis
14.17.2. Market Share Analysis, 2022
14.17.2.1. By Material
14.17.2.2. By Label
14.17.2.3. By Application
14.18. GCC Countries
14.18.1. Pricing Analysis
14.18.2. Market Share Analysis, 2022
14.18.2.1. By Material
14.18.2.2. By Label
14.18.2.3. By Application
14.19. South Africa
14.19.1. Pricing Analysis
14.19.2. Market Share Analysis, 2022
14.19.2.1. By Material
14.19.2.2. By Label
14.19.2.3. By Application
14.20. Israel
14.20.1. Pricing Analysis
14.20.2. Market Share Analysis, 2022
14.20.2.1. By Material
14.20.2.2. By Label
14.20.2.3. By Application
15. Market Structure Analysis
15.1. Competition Dashboard
15.2. Competition Benchmarking
15.3. Market Share Analysis of Top Players
15.3.1. By Regional
15.3.2. By Material
15.3.3. By Label
15.3.4. By Application
16. Competition Analysis
16.1. Competition Deep Dive
16.1.1. 3M Company
16.1.1.1. Overview
16.1.1.2. Product Portfolio
16.1.1.3. Profitability by Market Segments
16.1.1.4. Sales Footprint
16.1.1.5. Strategy Overview
16.1.1.5.1. Marketing Strategy
16.1.1.5.2. Product Strategy
16.1.1.5.3. Channel Strategy
16.1.2. Henkel AG & Co. KGaA
16.1.2.1. Overview
16.1.2.2. Product Portfolio
16.1.2.3. Profitability by Market Segments
16.1.2.4. Sales Footprint
16.1.2.5. Strategy Overview
16.1.2.5.1. Marketing Strategy
16.1.2.5.2. Product Strategy
16.1.2.5.3. Channel Strategy
16.1.3. Honeywell International Inc.
16.1.3.1. Overview
16.1.3.2. Product Portfolio
16.1.3.3. Profitability by Market Segments
16.1.3.4. Sales Footprint
16.1.3.5. Strategy Overview
16.1.3.5.1. Marketing Strategy
16.1.3.5.2. Product Strategy
16.1.3.5.3. Channel Strategy
16.1.4. CCL Industries Inc.
16.1.4.1. Overview
16.1.4.2. Product Portfolio
16.1.4.3. Profitability by Market Segments
16.1.4.4. Sales Footprint
16.1.4.5. Strategy Overview
16.1.4.5.1. Marketing Strategy
16.1.4.5.2. Product Strategy
16.1.4.5.3. Channel Strategy
16.1.5. Lintec Corporation
16.1.5.1. Overview
16.1.5.2. Product Portfolio
16.1.5.3. Profitability by Market Segments
16.1.5.4. Sales Footprint
16.1.5.5. Strategy Overview
16.1.5.5.1. Marketing Strategy
16.1.5.5.2. Product Strategy
16.1.5.5.3. Channel Strategy
16.1.6. Constantia Flexibles Group GmbH
16.1.6.1. Overview
16.1.6.2. Product Portfolio
16.1.6.3. Profitability by Market Segments
16.1.6.4. Sales Footprint
16.1.6.5. Strategy Overview
16.1.6.5.1. Marketing Strategy
16.1.6.5.2. Product Strategy
16.1.6.5.3. Channel Strategy
16.1.7. Coveris Holdings S.A.
16.1.7.1. Overview
16.1.7.2. Product Portfolio
16.1.7.3. Profitability by Market Segments
16.1.7.4. Sales Footprint
16.1.7.5. Strategy Overview
16.1.7.5.1. Marketing Strategy
16.1.7.5.2. Product Strategy
16.1.7.5.3. Channel Strategy
16.1.8. Inland Label & Marketing Services LLC
16.1.8.1. Overview
16.1.8.2. Product Portfolio
16.1.8.3. Profitability by Market Segments
16.1.8.4. Sales Footprint
16.1.8.5. Strategy Overview
16.1.8.5.1. Marketing Strategy
16.1.8.5.2. Product Strategy
16.1.8.5.3. Channel Strategy
16.1.9. Multi Color Corporation
16.1.9.1. Overview
16.1.9.2. Product Portfolio
16.1.9.3. Profitability by Market Segments
16.1.9.4. Sales Footprint
16.1.9.5. Strategy Overview
16.1.9.5.1. Marketing Strategy
16.1.9.5.2. Product Strategy
16.1.9.5.3. Channel Strategy
16.1.10. TSC Auto ID Technology Co. Ltd.
16.1.10.1. Overview
16.1.10.2. Product Portfolio
16.1.10.3. Profitability by Market Segments
16.1.10.4. Sales Footprint
16.1.10.5. Strategy Overview
16.1.10.5.1. Marketing Strategy
16.1.10.5.2. Product Strategy
16.1.10.5.3. Channel Strategy
16.1.11. Armor Group
16.1.11.1. Overview
16.1.11.2. Product Portfolio
16.1.11.3. Profitability by Market Segments
16.1.11.4. Sales Footprint
16.1.11.5. Strategy Overview
16.1.11.5.1. Marketing Strategy
16.1.11.5.2. Product Strategy
16.1.11.5.3. Channel Strategy
16.1.12. Western Shield Label
16.1.12.1. Overview
16.1.12.2. Product Portfolio
16.1.12.3. Profitability by Market Segments
16.1.12.4. Sales Footprint
16.1.12.5. Strategy Overview
16.1.12.5.1. Marketing Strategy
16.1.12.5.2. Product Strategy
16.1.12.5.3. Channel Strategy
16.1.13. Zebra
16.1.13.1. Overview
16.1.13.2. Product Portfolio
16.1.13.3. Profitability by Market Segments
16.1.13.4. Sales Footprint
16.1.13.5. Strategy Overview
16.1.13.5.1. Marketing Strategy
16.1.13.5.2. Product Strategy
16.1.13.5.3. Channel Strategy
16.1.14. JK Labels
16.1.14.1. Overview
16.1.14.2. Product Portfolio
16.1.14.3. Profitability by Market Segments
16.1.14.4. Sales Footprint
16.1.14.5. Strategy Overview
16.1.14.5.1. Marketing Strategy
16.1.14.5.2. Product Strategy
16.1.14.5.3. Channel Strategy
17. Assumptions & Acronyms Used
18. Research Methodology
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Thermal Labels Market
