What Fueled The Previous Growth In The Smart Label Market?
The smart label market has seen considerable growth due to a variety of factors.
•In recent times, the smart label market has seen significant growth. The market, having a size of $10.82 billion in 2024, is estimated to expand to $12.5 billion in 2025, indicating a compound annual growth rate (CAGR) of 15.6%.
The historic period's growth is linked to retailer demands for greater efficiency, better supply chain optimization, strategies for reducing costs, heightened worries about counterfeits, and the integration of data analytics.
What Is The Expected Growth In The Smart Label Market Size?
The smart label market is expected to maintain its strong growth trajectory in upcoming years.
• Anticipations show brisk expansion in the smart label market size in the ensuing years, projected to reach a substantial amount of "$21.82 billion by 2029, with a compound annual growth rate (CAGR) of 14.9%.
Various factors contributing to this projected growth within the forecast period include brand authentication, the increasing demand from consumers for sustainability, the rise in e-commerce, customized consumer experiences, emphasis on health and safety, and a connected packaging ecosystem. Key trends for the forecast period encompass IoT integration, a surge in QR code usage, the implementation of anti-counterfeiting steps, product innovations, and the integration of mobile apps.
What Are The Leading Drivers Of Growth In The Smart Label Market?
Advancing demand from sectors like the food and beverage industry is likely to propel the expansion of the smart label market. The term food and beverage industry encompasses all businesses dealing with the processing, packaging, and distribution of raw food items. Smart labels offer traceability to the products which is crucial for identifying the food source, helping in eliminating counterfeit goods, consequently escalating the demand from sectors such as the food and beverage industry, elevating the smart label market demand. For instance, as per the Food & Drink Federation, a UK-based organization that provides representation and guidance to UK food and drink manufacturers, there was a 31% increase in the exports of food and drink in 2022 compared to 2021 in February 2023. Furthermore, the turnover of the food and beverages industry reached US$3.52billion (£10.3 billion) in 2022, which formed 33% of the total manufacturing in Scotland. Hence, the escalating demand from sectors such as the food and beverage industry is fuelling the growth of the smart labels market.
How Are The Segments Defined Within The Global Smart Label Market?
The smart label market covered in this report is segmented –
1) By Component: Batteries, Transceivers, Microprocessors, Memories, Other Components
2) By Labeling Technology: Radio Frequency Identification (RFID), NFC Tags, Electronic Article Surveillance (EAS), Sensing Labels, Electronics Shelf Labels
3) By Printing Technology: Flexographic Smart Labels, Digital Smart Labels, Gravure Smart Labels, Screen Smart Labels
4) By Application: Retail Inventory, Perishable Goods
5) By End-User: Retail, Healthcare And Pharmaceuticals, Food And Beverages, Consumer Electronics, Supply Chain and Logistics, Transportation, Other End Users
Subsegments:
1) By Batteries: Lithium-Ion Batteries, Lithium Polymer Batteries, Alkaline Batteries, Other Battery Types
2) By Transceivers: RFID Transceivers, NFC Transceivers, Bluetooth Transceivers, Other Transceiver Types
3) By Microprocessors: 8-bit Microprocessors, 16-Bit Microprocessors, 32-Bit Microprocessors, 64-Bit Microprocessors
4) By Memories: EEPROM (Electrically Erasable Programmable Read-Only Memory), Flash Memory, SRAM (Static Random-Access Memory), DRAM (Dynamic Random-Access Memory)
5) By Other Components: Antennas, Sensors, Integrated Circuits, Other Electronic Components
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How Are New Trends Expected To Influence The Growth Of The Smart Label Market?
The adoption of innovative technologies is an emerging trend gaining traction in the smart label industry. Key players in the market are embracing these advancements to maintain their competitiveness. For instance, in January 2023, Pod Group, a UK-based connectivity solutions provider, in cooperation with Sodaq, an experienced Netherlands-based firm specializing in Internet of Things, along with Lufthansa Industry Solutions, a German software company, introduced a commercially viable smart label tracking gadget. Utilized within the logistics sector, this gadget is suited for tracking small, lightweight items. The smart label employs low-power 5G cellular connectivity standards to relay critical data like location and temperature to a central dashboard. This functionality ensures the label's battery remains compact while maintaining an optimized battery lifespan of up to six months.
Who Are the Key Players in the Smart Label Market?
Major companies operating in the smart label market include:
• Avery Denison Corporation
• CCL Industries Inc.
• Checkpoint Systems Inc.
• Thin Film Electronics ASA
• Alien Technology Inc.
• Zebra Technologies Corporation
• SATO Holdings Corporation
• Invengo Technology Pte. Ltd.
• Advantech Pvt. Ltd.
• Muehlbauer Holding AG & Co. KGaA
• Smartrac N.V.
• Multi-Color Corporation
• SML Group Limited
• Centre for Process Innovation
• PRAGMATIC SEMICONDUCTOR LIMITED
• Smart Planet Technologies Inc.
• Adrich
• Uwitechnology Ltd.
• Cypak AB
• General Mills Inc.
• William Frick & Company
• Honeywell International Inc.
• Scanbuy Inc.
What Is The Most Dominant Region In The Smart Label Market?
North America was the largest region in the smart labels market in 2024. Asia-Pacific is expected to be the fastest-growing region in the global smart label market during the forecast period. The regions covered in the smart label market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
