Market Trends of North America Print Label Industry
Pressure-Sensitive Labels Segment Dominating the Market
Pressure-sensitive labels continue to lead the North American print label market, with a 35.95% share in 2021. This segment is set to grow at a CAGR of 4.24%, reaching a market value of USD 4,072.77 million by 2027.
- Versatility driving demand: The flexibility of pressure-sensitive labels across industries like food and beverages is a major factor in their market dominance. The food and beverage sector accounted for 53.53% of the market share in 2021.
- Beverage industry growth: The beverage sector is poised for a CAGR of 4.25% from 2022 to 2027, further driving demand for pressure-sensitive labels.
- Impact of e-commerce: E-commerce growth has significantly increased the demand for pressure-sensitive labels, with digital sales rising by 9.3% in Q2 2021.
- Sustainability innovations: Technological advancements, like Avery Dennison’s linerless label technology, are reducing waste and enhancing production efficiency.
Inkjet Printing Spearheading Market Growth
Inkjet printing is emerging as the fastest-growing segment, with a CAGR of 5.57%, and is expected to reach a market value of USD 698.17 million by 2027.
- Cost-effectiveness driving adoption: UV inkjet and water-based inkjet technologies are becoming more prevalent due to their cost efficiency and ability to produce high-quality prints.
- End-user industry demand: Inkjet printing is seeing increased adoption across sectors like food, beverages, and pharmaceuticals due to its lower inventory requirements and faster turnaround times.
- Technological advancements: Companies like Beau Label are enhancing inkjet printing capabilities, as seen with the PicoJet UV digital inkjet press, capable of producing superior quality prints with a 1200 x 1200 dpi resolution.
- Partnership-driven innovation: Strategic collaborations, such as between Cyngient, MPS, and Imageworx, are helping to innovate and expand inkjet printing technologies.