Labels Market size is to grow by 14.58 billion m2 from 2021 to 2026

The labels market size is estimated to grow by 14.58 billion m2 from 2021 to 2026 at a CAGR of 4.27% according to Technavio.

The growing competition in the market is compelling vendors to adopt various growth strategies such as promotional activities and spending on advertisements to improve the visibility of their services.

The market growth is driven by the increasing demand for sleeve labels. Sleeve labels offer innovative advertising prospects and eliminate the need for colored containers. Vendors utilize the space provided by full-body shrink-sleeve labels to incorporate eye-catching logos, pictures, and designs. With enhanced container coverage, sleeve labels provide vendors with ample area to engage prospective consumers and provide additional product information, including details about ingredients, in compliance with regulations. This creates a positive perception of the product in the consumer's mind and enhances the vendor's market position. These advantages will propel market growth during the forecast period.

Key Market Trend- The increased implementation of barcode technology is a key market trend driving growth. Barcodes serve as a prominent method of product identification and are widely used for track-and-trace purposes. They play a crucial role in supply chain management by documenting and securing various information such as manufacturing date, location, batch number, and expiry date. The food and beverage industry, in particular, has witnessed a growing demand for barcode labels, specifically pressure-sensitive labels with 2D and 3D barcode technology. With the ability to be read by mobile phones through QR codes, 2D barcode labels are gradually reducing the need for specialized readers in the logistics industry. The increasing adoption of 2D barcode labels is expected to fuel market growth during the forecast period.