Medical Power Supply Market Report by Type (Open Frame Power Supply, Enclosed Power Supply, Adapter Power Supply, Converters), Converter Type (AC-DC Power Supply, DC-DC Power Supply), Application (Diagnostic, Imaging and Monitoring Equipment, Surgical Equ

Medical Power Supply Market Report by Type (Open Frame Power Supply, Enclosed Power Supply, Adapter Power Supply, Converters), Converter Type (AC-DC Power Supply, DC-DC Power Supply), Application (Diagnostic, Imaging and Monitoring Equipment, Surgical Equipment, Home Medical Equipment, and Others), and Region 2024-2032

The global print label market size reached US$ 47.1 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 66.1 Billion by 2032, exhibiting a growth rate (CAGR) of 3.8% during 2024-2032. The growing reliance on packaged goods for convenience and hygiene, increasing adoption of barcodes and QR codes for inventory management, tracking, and marketing purposes, and the burgeoning e-commerce industry are some of the major factors propelling the market.

A print label is a piece of paper, polymer, cloth, metal, or other material affixed to a product or container, which provides information about a product. It is made from paper, various types of plastic, fabric, and foil. It is durable, resistant to environmental conditions, adheres well to the product and packaging, and carries clear and legible information. It helps enhance brand recognition and appeal through their design and branding elements. It provides added functionalities like anti-counterfeit measures, tracking, and interactive consumer engagement, especially when integrated with advanced technologies. As a result, print label is used in various industries worldwide.

The rising consumer awareness about product ingredients, manufacturing details, and expiry dates is driving the demand for comprehensive and clear labels. Additionally, the trend towards personalized and bespoke products is increasing the use of labels that can be customized to match individual customer preferences or for limited-edition product runs. Apart from this, the growing adoption of barcodes and QR codes for inventory management, tracking, and marketing purposes is offering a favorable market outlook. Moreover, the increasing consumer reliance on online shopping and rapid rise of e-commerce are increasing the need for more extensive and efficient labeling systems for product identification, logistics, and delivery.

Print Label Market Trends/Drivers:
Rising use in various industries

The escalating need for print labels in the food and beverage (F&B) industry represents one of the key factors favoring market growth. Additionally, rapid urbanization, hectic lifestyles, and reliance on packaged goods for convenience and hygiene is catalyzing the demand for print labels. Apart from this, the increasing adoption of print labels in the pharmaceutical industry is offering a favorable market outlook. Print labels provide necessary information to patients about the composition, side effects, storage instructions, and precautions to ensure proper usage and prevent mishaps. Furthermore, these labels aid in the tracking and authentication of pharmaceutical products. They help prevent counterfeiting and ensure the traceability of the product throughout the supply chain.

Increasing utilization of advanced technologies

Technological advancements in the field of label printing are significantly propelling the growth of the market. These advances have facilitated improved operational efficiency, enhanced quality, and increased versatility in the production of labels, catering to the evolving needs of various industries. Furthermore, the advent of digital printing facilitates the production of high-quality labels that are customizable according to specific needs. Moreover, digital printing typically has lower setup costs compared to traditional printing methods and allows for faster turnaround times, thus enabling businesses to respond quickly to market changes and demands.

The growing environmental consciousness

Consumers are increasingly seeking products that minimize environmental impact, and this preference extends to product labeling. They are more likely to choose products with labels made from renewable, recyclable, or compostable materials. Additionally, various leading companies are innovating to develop eco-friendly labels that appeal to this environmentally conscious consumer base. Apart from this, governments worldwide are enacting stricter environmental standards and regulations to combat pollution and climate change. This regulatory pressure is prompting businesses to adopt production processes that minimize waste, reduce energy consumption, and limit the use of non-renewable resources.

Print Label Industry Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the global print label market report, along with forecasts at the global, regional and country levels from 2024-2032. Our report has categorized the market based on raw material, print process, label format and end use industry.

Breakup by Raw Material:

Metal Labels
Plastic/Polymer Labels

Plastic/polymer labels account for the largest market share

The report has provided a detailed breakup and analysis of the market based on the raw material. This includes metal labels and plastic/polymer labels. According to the report, plastic/polymer labels dominate the market.

Plastic/polymer labels are highly durable and resistant to various environmental conditions such as heat, moisture, and abrasion. This makes them ideal for products that need to withstand rough handling or harsh conditions. For instance, they are used extensively in the food and beverage (F&B) industry wherein a product might be exposed to moisture and temperature variations. Additionally, plastic/polymer labels can be molded into various shapes and sizes, allowing them to fit a wide range of product packaging types. Their flexibility extends to printing methods as they can easily be printed using various techniques, such as flexography, screen printing, and digital printing, allowing for vibrant, high-quality graphics.

Breakup by Print Process:

Offset Lithography
Gravure
Flexography
Screen
Letterpress
Electrophotography
Inkjet

The report has provided a detailed breakup and analysis of the market based on the print process. This includes offset lithography, gravure, flexography, screen, letterpress, electrophotography, and inkjet.

The increasing utilization of flexography in the print process for labels, especially in the packaging industry, due to its versatility and ability to print on a wide range of substrate materials is driving its demand globally.

There is a rise in the adoption of offset lithography in high-quality commercial and publication printing. It is extensively used in book printing due to its capacity to produce sharp, clean, and high-quality images. The technique can accommodate high-volume production, making it cost-effective for mass-produced books.

The increasing use of gravure in high volume and high-quality prints such as magazines, catalogs, and packaging that require fine details and vibrant colors is favoring market growth. Besides this, screen printing allows for special effects such as creating raised images or using inks that glow in the dark or change color based on temperature.

Breakup by Label Format:

Wet-Glue Labels
Pressure-Sensitive Labels
Linerless Labels
Multi-Part Tracking Labels
In-Mold Labels
Sleeves

Pressure-sensitive labels dominate the market

The report has provided a detailed breakup and analysis of the market based on the label format. This includes wet-glue labels, pressure-sensitive labels, linerless labels, multi-part tracking labels, in-mold labels, and sleeves. According to the report, pressure-sensitive labels represented the largest segment.

Pressure-sensitive labels are highly durable and can withstand various environmental conditions, such as exposure to moisture, heat, or cold. This makes them suitable for various industries, including food and beverage, pharmaceuticals, and consumer goods. They can also be integrated with technologies such as radio frequency identification (RFID) and near field communication (NFC) to create smart labels. These labels can provide additional functionality, such as inventory management, theft prevention, and interactive consumer engagement. Furthermore, the increasing use of advanced printing methods like flexography, lithography, and digital printing on these labels, allows for high-quality graphics and the inclusion of detailed information or branding elements.

Breakup by End Use Industry:

Healthcare
Food and Beverages
Personal Care
Industrial
Household Care
Consumer Electronics
Others

Food and beverages hold the largest share of the market

A detailed breakup and analysis of the market based on the end use industry has also been provided in the report. This includes healthcare, food and beverages, personal care, industrial, household care, consumer electronics, and others. According to the report, food and beverages accounted for the largest market share.

The main factors that are driving the growth of this segment are the expansion of the food and beverage (F&B) industry worldwide. This is one of the largest and most essential industries worldwide, producing a vast array of different products. Each product requires labeling, leading to a high demand for print labels. Apart from this, there are continuous innovations in packaging to improve product appeal, extend shelf life, and enhance convenience. This constant innovation leads to the rising need for new labels that help distinguish products, making them stand out on shelves and communicating the brand's message to consumers. Furthermore, the implementation of stringent regulations for mandating clear labeling on food and beverage products to communicate vital information to consumers. This information includes ingredients, nutritional facts, allergen warnings, and best-before dates.

Breakup by Region:

North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Asia Pacific exhibits a clear dominance, accounting for the largest print label market share

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, Asia Pacific accounted for the largest market share.

Asia Pacific held the biggest market share since the region has a vast population, and rapid urbanization is leading to an increase in consumer spending. This growth translates to higher demand for packaged goods, consequently driving the need for more print labels.

Another contributing aspect is the adoption of advanced print technologies and automation in the region resulting in the improving label production capabilities. Apart from this, the Asia Pacific region comprises robust industrial sectors, such as F&B, pharmaceuticals, and others. These industries heavily rely on print labels for packaging, which is impelling the growth of the market.

Competitive Landscape:
Companies are focusing on the production of eco-friendly and sustainable labels in response to growing environmental concerns worldwide. They are utilizing renewable materials, minimizing waste, and implementing processes that reduce energy use. Additionally, many companies are investing in the latest printing technologies such as digital printing and flexography to enhance their productivity, efficiency, and the overall quality of labels. They are developing innovative solutions that are tailored to meet specific customer needs. Furthermore, they are forming strategic partnerships and alliances to share knowledge, expertise, and resources. They are also engaged in mergers and acquisitions (M&A) to increase their market share and expand product offerings.

The report has provided a comprehensive analysis of the competitive landscape in the market. Detailed profiles of all major companies have also been provided. Some of the key players in the market include:

3M Company
Ahlstrom-Munksjo Oyj (Ahlstrom-Munksjö Holding 3 Oy)
Avery Dennison Corporation
Fort Dearborn Company
Fuji Seal International Inc
Huhtamäki Oyj
Mondi plc
Multi-Color Corporation
Ravenwood Packaging
Sato Europe GmbH
Taghleef Industries
Taylor Corporation

Recent Developments:
In March 2021, Fort Dearborn Company acquired Hammer Package Corporation to use Hammer's technology to strengthen its position in the decorative label and packaging market by extending its geographic footprint, capacity, and capabilities.
In February 2021, Mondi Plc launched two new paper-based sustainable EverLiner products named EverLiner Labelite and EverLiner M R. They are made from recycled and lightweight materials and offer long-term solutions in various applications.
In 2022, Avery Dennison Corporation expanded its investment capacity to over €60 Million in manufacturing efficiency to meet the demand for label and packaging materials.

Key Questions Answered in This Report

1. What was the size of the global print label market in 2023?
2. What is the expected growth rate of the global print label market during 2024-2032?
3. What has been the impact of COVID-19 on the global print label market?
4. What are the key factors driving the global print label market?
5. What is the breakup of the global print label market based on the raw material?
6. What is the breakup of the global print label market based on the label format?
7. What is the breakup of the global print label market based on the end use industry?
8. What are the key regions in the global print label market?
9. Who are the key players/companies in the global print label market?