Smart Labels Market by End Use – Healthcare, Automotive, Retail, FMCG, and Logistics for 2020 – 2030

The market for smart labels witnessed a massive slowdown in its progress as a result of the spread of Covid-19 pandemic across the globe. But in the post covid world, the boost in the healthcare industry is making use of smart labels to assist in inventory tracking and pharmaceutical waste disposal. As recovery commences in 2021, major players are recuperating their positions through production expansion, capacity utilizations and online selling in 2021 keeping in view the covid-19 norms.

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Leading companies such as CCL Industries, Inc., Checkpoint Systems, Inc., Avery Dennison Corporation, Sato Holdings Corporation, Smartrac N.V., and Zebra Technologies are actively indulged in the adoption of several market strategies like joint ventures, collaborations, partnership agreements, technological advancements, sales agreements, capacity utilizations, innovations, diversifications, geographical expansions etc to ensure improvements in their operations globally.

“Availability of wide range of printing technologies, improved communication network and higher preference for sustainable packaging solutions across the world, demand for smart labels has escalated in a dexterous manner. This has also helped the manufacturers get an insight about the kind of production this market demands,” says the FMI Analyst.

Smart Labels Market – Key Highlights

• Asia-Pacific region is dominating the market and is expected to register highest CAGR of 14% among others.
• According to research analysts at FMI, smart labels market is expected to expand by 3.36x with a CAGR of 13% through 2030.
• Logistics industry is likely to accent revenue and witness a four-fold growth through the forecast period.
• Flexographic printing technology will cover most of the market in digital label printing due to cost effectiveness and easy use.

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Smart Labels Market – Key Restraints

• Lack of awareness about advanced technology and growing cases of poverty is likely to restrict the market growth.
• Higher investment values and expensive nature of small and medium enterprises is acting as a major hindrance.

Expected Impact on Market by Coronavirus Outbreak

Smart Labels market might experience considerable pressure due to reduced production. In times like these, social distancing and proper hygiene is demanded. The packaging market has always been in demand therefore healthcare and FMCG industry might revive soon to the pre-pandemic position. Value added features like cost-efficiency and user-friendly technology is gaining traction. There will be a surging demand for COVID-19 testing kits, masks and gloves which will be up taken by packaging industries too, thereby, helping the market in witnessing steady growth.

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Competition Landscape

Key manufacturers are incorporating innovative techniques like organic printing and packaging to enhance market growth. Major players in the market Honeywell International Inc., Avery Denison Corporation, CCL Industries Inc., Zebra Technologies Corporation, SATO Holdings Corporation, Checkpoint Systems Inc.,Thin Film Electronics ASA, Muehlbauer Holding AG, Invengo Technology

For an instance, key companies are focussing on adopting better printing technologies and patterns without any signs of deterioration. Manufacturers are investing in expanding product portfolio to maintain a better mark.

For example, Avery Dennison Corporation has introduced eco-friendly and biodegradable tags. This feature helps in eliminating micro plastics and harmful substances.

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