The thermal labels market value is estimated at USD 935.24 million in 2023 and is projected to reach USD 1,494.64 million by 2033, at a CAGR of 4.8% from 2023 to 2033.
The global market revenue was worth USD 851.5 million for 2021, as per the FMI analysis. The global market is anticipated to reach USD 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) | USD 935.24 million |
| Market Valuation (2033) | USD 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 USD 350.1 million.
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As per FMI, the United States market is estimated to total around USD 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 USD 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 | USD 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 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Material 5.1. Paper 5.2. Plastic 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Label 6.1. Direct thermal labels 6.2. Thermal transfer labels 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application 7.1. Food & beverages 7.2. Healthcare 7.3. Semiconductor & Electronics 7.4. Others 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Europe 8.4. Asia Pacific 8.5. MEA 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Key Countries Market Analysis 15. Market Structure Analysis 16. Competition Analysis 16.1. 3M Company 16.2. Henkel AG & Co. KGaA 16.3. Honeywell International Inc. 16.4. CCL Industries Inc. 16.5. Lintec Corporation 16.6. Constantia Flexibles Group GmbH 16.7. Coveris Holdings S.A. 16.8. Inland Label & Marketing Services LLC 16.9. Multi Color Corporation 16.10. TSC Auto ID Technology Co. Ltd. 16.11. Armor Group 16.12. Western Shield Label 16.13. Zebra 16.14. JK Labels 17. Assumptions & Acronyms Used 18. Research Methodology
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Thermal Labels Market
