Wrap-around Label Market to Hit US$ 13.8 Billion by 2033, Driven by Demand for Informative and Visually Appealing Packaging | Future Market Insights, Inc.
A recent publication on the Wrap-around Label Market highlights the burgeoning demand for informative and visually appealing packaging, a key factor propelling the market's growth trajectory. The report further emphasizes the consistent surge In demand for packaged and "on-the-go" food and beverages, significantly bolstering wrap-around label sales across major markets such as the United States, India, Germany, and China.
NEWARK, Del., Nov. 15, 2023 /PRNewswire/ -- Global sales of wrap-around labels are estimated to be valued at US$ 8.8 billion in 2023 and are anticipated to reach US$ 13.8 billion by 2033. Sales are projected to expand at a CAGR of 4.9% over the forecast period between 2023 and 2033.
The global market for wrap-around labels expanded at a CAGR of 2.6% during the historical period. It reached a market value of US$ 8.3 billion in 2022 from US$ 7.1 million in 2018.
Wrap-around labels can create an appealing look that can impact buyers' purchasing decisions when they apply thoughtfully. As consumers shop in person and online, colors and packaging shapes attract their texture and added elements such as metallic and custom finishes such as embossing and foil stamping.
The growing e-commerce sector has increased the demand for packaging that is both efficient and less harmful to the environment. Consumers are encouraged to look for more enticing and eco-friendly choices, such as clear film labels on recyclable adhesives, clear substrates, and liner-free labels.
The demand for labels is expected to rise due to the growing requirement from significant end-use sectors, including pharmaceutical and food and beverage. A key competitive advantage is granted to the label in the pharmaceutical industry by the growing trend for serialization by pharmaceutical enterprises.
Manufacturers are embracing authentication and brand protection technologies with the increasing prevalence of imitation on the rise. Higher authorities in the world are mandating QR codes on the product packaging for track and trace mechanism that helps in the detection of substandard and altered products.
Several countries are enforcing strict regulations restricting the import and export of goods and commodities that do not have genuine labels. Governance authorities are also taking initiatives to increase awareness among buyers about counterfeiting. The actions taken by government bodies to control the creation of counterfeit product has constructed substantial growth prospects for the wrap-around label market.
Key Takeaways from the Wrap-around Label Market Study-
- Shrink labels are leading the wrap-around label market, creating a financial potential of US$ 1,312.7 million by 2033.
- Plastic is set to dominate the wrap-around label market with a 90% share in 2033.
- Paper material segment is expected to record a CAGR of 4.8% during the forecast years and expand 1.6 times its current market value.
- Digital printing is expected to gain US$ 1,205.5 million market value in 2023 and expand further at a CAGR of 5.0% by 2033.
- Based on end-use, the food segment is projected to capture 29% of market share by 2033, recording a CAGR of 4.4%.
Understand global, regional, and country-level parameters with growth opportunities, historical data (2018-2022), and forecasts (2023-2033). Buy this report today!
"The ability to accommodate complex shapes and sizes along with providing seamless and eye-catching branding solutions are highly desirable factors for packaging contributing to the wrap-around label market."- says Ismail Sutaria (Lead Consultant, Packaging and Materials).
Elevated Focus on Branding and Promotion of Products
Wrap-around labels provide a wealth of unique opportunities for branding and promotion, making them a sought-after choice for marketers aiming to create impactful packaging solutions. Wrap-around labels offer 360-degree branding opportunities and unique possibilities for attention-grabbing design.
Manufacturers design and implement effective product labeling using wrap-around labels to meet consumers' needs for branding, promotion, or identification. Continuous warp labels are fit for a variable array of uses and offer an interesting aesthetic for consumer products.
Through digital printing capabilities, brands can easily create variations of wrap-around labels tailored to diverse regions, demographics, or seasonal campaigns. This level of customization allows brands to resonate with specific target markets, adapt to cultural preferences, and respond to local trends, further strengthening their market presence and relevance.
Competitive Landscape
Amcor plc, Huhtamaki Oyj, Fuji Seal International Inc., Avery Dennison Corp, and Klockner Pentaplast Group are a handful of the noticeable players in the market. The Tier 1 players hold 10 to 15% of the overall wrap-around label market.
Leading companies operating in the wrap-around label market are providing customized labeling solutions for meeting the specific needs of end-use industries. Companies are enhancing their product offering and expanding their geographical reach to gain the maximum market share. They are offering high-quality labels with advanced printing solutions to fulfill branding needs.
For instance,
- In June 2023, Klockner Pentaplast Group announced the launch of its specially formulated fully recyclable vacuum film by collaborating with Dow Co. to maximize food protection.
- In June 2022, Fuji Seal International Inc. announced the launch of resource recycling shrink sleeve labels for plastic bottles.
- In November 2022, Multi-Color Corporation collaborated with Extrupet and Coca-Cola to bring recyclable shrink sleeve labels to the South African market.
Purchase this report now to get key companies with their Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis.
Get More Valuable Insights into Wrap-around Label Market Study
Future Market Insights (FMI), in its new report, offers an unbiased analysis of the global market for wrap-around labels, analyzing historical demand from 2018 to 2022 and forecast statistics for 2023 to 2033.
The study reveals market growth projections on the global wrap-around label market based on material (paper, plastic), product (stretch label, shrink label, cut and stack label, roll feed label, pressure sensitive label), printing technology (rotogravure printing, flexographic printing, offset printing, digital printing, letterpress printing, thermal printing), and end-use (food, beverages, pharmaceutical, cosmetics and personal care, chemicals, home care and pet care, other consumer goods).
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The packaging division at Future Market Insights (FMI) provides an in-depth historical analysis and projections for the next ten years and covers the competitive landscape through a unique dashboard view. Ranging from packaging materials and packaging machinery to packaging designs & formats, Future Market Insights (FMI) has an exhaustive database for these industry verticals, serving clients with unique research offerings and strategic recommendations.
With a repository of 1,000+ reports, the team has analyzed the packaging industry comprehensively in 50+ countries. The team evaluates every node of the value chain and provides end-to-end research and consulting services; reach out to explore how we can help.
About the Author:
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail's strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor's Degree in Mathematics.
Ismail is a regular at industry conferences and expos and has been widely covered in electronic and print media. He is a Speaker at our upcoming Talk show - Rise of the Intelligent Packaging. Ismail has been quoted in leading publications, including the European Pharmaceutical Review and the European Adhesive Tape Association.
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