The North America Print Label Market is expected to register a CAGR of 4.56% over the forecast period from 2022 to 2031. The growth of the print label market is augmented by the rapid rise of digital print technology in the region, which has made the print labels market more sophisticated and has increased the adoption of print labels globally. Their flexibility and versatility, combined with the high graphics standards, are the key growth features. Digital technology has met various end-user industries’ varied requirements in making attractive label designs to encourage potential consumers to make purchases. The combination of digital technology with the existing label printing technique will bring a massive change to all the small-scale and large-scale sectors, improving the overall market.
– Flexography printing is expected to account for significant Growth In The Print Label Market. According to luminate, an expanding economy, more manufacturing activity, and rising retail sales will help the United States flexo market reach around USD 20 billion. With the increase in automation, customers want their products as close to the order time as possible. Faster turnaround times are becoming more critical than ever to meet demand. Flexographic printer with continuous print solutions, more software integrations into the presses and technologies, and durability will meet customer demand in shorter lead times. Furthermore, Alphasonics USA, based in Virginia, and Eaglewood Technologies in Minnesota, have announced a strategic partnership designed to bring the one of the most advanced anilox cleaning technologies to the flexographic printing market.
– The expansion of retail, growth of e-commerce, recent regulations, and the rising transition of existing players to digital packaging is expected to facilitate the development of the Print Labels Market in Canada. It is likely that an additional 5.21 million users would be shopping online by 2021, according to data released by export.gov. According to StatCan, with the outbreak of COVID-19, the e-commerce retail trade sales accounted for CAD 3.4 billion in April 2022, which is an increase of 56% compared in March 2022. This is expected to create a considerable demand for labels. Additionally, Amazon launched its transparency program to serialize products sold on its platform with a T-shaped QR-style tag to identify counterfeit items.
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– Another trend that re-inforces the move towards digital in Canada is the growing interest shown by label converters and Canadian offset printers in entry-level prime label solutions to diversify into the narrow web roll label market. For instance, Mark Andy, a US-based company, confirmed sales of its Digital One and Digital Series HD hybrid press to local players. Maritime Labels and Packaging of Nova Scotia, Canada, in March 2019, installed the HP Indigo 6900 Digital Press to digitally print shrink sleeves for its clientele in the craft beer, wine, spirits, cider, spices, juices, and nutraceutical segments. The installation also underscores the growing need for printing premium label substrates, while simultaneously adding embellishments like foiling, embossing, and screen printing.
– Web sales are up significantly year over year as the widespread coronavirus still keeps many shoppers at home and away from physical stores. However, online spending is tapering, according to new research from Adobe Analytics. Adobe Analytics reported that while total United States online sales reached USD 73.2 billion in June 2022, up 76.2% compared with USD 41.5 billion in 2019, online spending is down 11.3% from May’s USD 82.5 million. Daily online grocery sales fell 18% in June 2022 compared with May 2022 as consumers returned to brick-and-mortar stores in reopened states. However, the significant increase in online sales in 2022 compared to 2019 is expected to impact the print labels in the region positively.
Key Market Trends
Food & allied products is Expected to Hold Significant Share
– The packaging industry is the primary user of the print label for providing the customers with the necessary information about the product and promoting the brand of the product. For instance, according to The Food and Drug Administration (FDA), packaged and processed food items must have nutritional labeling that makes labeling important. The Digital printing technology demand has been experiencing real demand across the end-user industry sectors, such as in food, beverages, consumer goods, pharmaceuticals, etc. Increasing penetration of organized retail formats, such as supermarkets and hypermarkets and e-commerce, the processed and packaged food market is currently exhibiting strong growth. This is aiding to the growth of the print label market.
– In March 2022, The U.S. Food and Drug Administration (FDA) announced a new policy to provide flexibility for food manufacturers and restaurants that have products on hand that is not labeled for retail sale (i.e., labeled for foodservice). To facilitate food distribution during the COVID-19 pandemic, the FDA released a guidance document, which allows restaurants and food manufacturers to sell food products without nutrition labeling under certain circumstances. Food labeling is required for most prepared foods, such as bread, cereals, canned and frozen foods, snacks, desserts, drinks, etc. Nutrition labeling for raw produce, including fruits, vegetables, and fish, is voluntary. Food Safety and Inspection Service (FSIS) provided similar flexibility for FSIS regulated products last week.
– To maintain the highest levels of product safety and ensure a low environmental footprint of inks, several players have been introducing better quality inks. Siegwerk, a leading provider of printing inks in the region, launched its new, low migration U.V. offset ink range Sicura Litho NutriEco. This ink is well-suited for the Food and Beverage Industry and has a shallow carbon footprint. Apart from enhancing the performance of printing, U.V. cured inks are migration-compliant and hence are ideal for U.V. flexo food packaging and label applications. Sun Chemical, a US-based company, launched SolarVerse, a range of highly pigmented, low viscosity, multipurpose U.V. flexo base concentrates that are ideal for labeling food materials.
– According to Associated Chambers of Commerce and Industry of India, the revenue in the food market in the U.S. is estimated to be USD 702,061 million in 2022. Processed and perishable foods hold a significant share in the current Food market scenario and are expected to drive the market in the foreseen period. As most processed food manufacturers use printed labels for their products, it is expected to give a considerable surge in its demand in the food industry. Furthermore, the COVID-19 impact on the food industry has been favorable. According to the monthly sales data from the U.S. Census Bureau, unadjusted retail sales at food and beverage stores witnessed a 30% increase from February to March of 2022 and a 26% increase over comparable sales in March 2019.
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United States is Expected to Hold Major Share
– The United States Print Labels Market has been experiencing consolidation due to the reduced profit margins, shorter lead times, and converters having trouble finding skilled workers to operate their respective presses. The market is also experiencing a renewed focus from the European players who want to leverage the growth potential that the labels market of the country offers. The label manufacturers in the US experience most of the demand from the food and beverage segments. For instance, Ritrama has developed a new matt effect polyethylene film codenamed PE Smart Matt, explicitly designed to create high-impact labels for the food, beverage, and personal care sectors. The considerable growth of private label beverage sales is expected to impact the market positively.
– Most of this growth is experienced due to the growing demand for smart labels that facilitates the disbursement of information for both consumers and manufacturers. Raley’s shelf guide program initiated in California helps shoppers identify what ingredients, food processing methods, and nutrition offered are indicative of this trend. The Food Safety Modernization Act mandates Consumer packaged goods (CPG) to be able to, at minimum, identify the immediate supplier and recipient (other than retailers to consumers) of a product to monitor the path of their products. The increasing use of NFC and RFID technology by retailers to track customers’ experiences to customize their offerings is also expected to expand the need for smart labels further.
– The manufacturers of the print label in the region are also focusing on sustainability. US-based film manufacturer, Virtual Graphics, in December 2019, has announced a chemical-free direct thermal label technology RevealPrint that is environmentally friendly and compatible with any barcode software and thermal printers. Due to a lot of innovation by a prominent player in the region, the market is getting volatile. For instance, Digimarc, a company based in Beaverton, Oregon, launched the Digimarc Platform featuring the Digimarc Barcode, which is a method to enhance objects and media of all kinds, including printed products, with a digital watermark that’s invisible to the human eye, but can be detected by smartphones, computers and barcode scanners.
– In January 2022, Epson America, Inc. introduced the new TM-L90II LFC thermal label printer at the NRF 2022 Retail’s Big Show. The TM-L90II LFC is a flexible label printer that supports 40-, 58- and 80mm full media for flexible printing options. Replacing the TM-L90 Plus LFC models, this flexible and adaptable thermal label printer supports liner-free printing and receipt printing and features a back-feed functionality and label-taken sensor. It enables merchants in the QSR and fast-casual segments to fastly print order details and add appropriate labels to orders. So, foodservice operators can ensure that the correct order is delivered to the right consumer. It benefits retailers and hospitality merchants alike in improving order accuracy and efficiencies.
The North America print label market is highly competitive and moderately fragmented with the presence of significant players such as Fort Dearborn Company, Mondi Group, Avery Dennison Corporation, CCL Industries, Inc., etc. The companies are increasing their presence in the market by introducing new offerings or entering into strategic partnerships or acquisitions.
– July 2022 – CCL Industries Inc. has acquired InTouch Label and Packaging Co., Inc., a specialized short-run digital label converter based near Boston, Massachusetts. The net value of the transaction, net of cash and debt, is approximately USD 10.9 million.
– September 2019 – Fort Dearborn Company made a multi-million dollar purchase of five high-performance HP Indigo labels and packaging presses. The expanded digital capacity containing both HP Indigo 20000 and 6900 digital presses will enable the company to expand production and speed delivery of digitally printed wrap-around labels, cut and stack labels, pressure-sensitive, security labels, and shrink sleeves.
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