Post Covid:19 Update: Growing Demand From Packaging Sector Is Driving The Smart Label Market Growth

Global Smart Label Market: Key Highlights

• According to the new market research report “Smart Label Market by Technology (Radio Frequency Identification (RFID), Near-field Communication (NFC), Electronic Article Surveillance (EAS) and Others), by Printing (Thermal Printing, Inkjet Printing, Flexographic Printing, Digital Printing and Others), by Application (Food & Beverage, Healthcare, Automotive, Logistics and Transport and Others) by Region (Asia Pacific, Europe, Middle East & Africa, South America, North America) — Global Forecast (2020 to 2027)”, the global smart label market is estimated to reach USD 19.50 Billion by 2027 at a CAGR of around 13.1% within the study period
• Shifting consumer preference towards convenient and more efficient packaging with higher awareness regarding labelling among the end-users is estimated to drive the market growth
• Increasing adoption of smart labels in the healthcare sector to communicate and record the data regarding the drug dose, is fueling the market growth
• The growth of this market is expected to hinder owing to high cost associated with smart label

Global Smart Label Market: Key Market Dynamics

• Changing consumer behavior towards processed, packaged food products, higher demand for strong yet convenient packaging with higher awareness regarding product label to ensure safety is the key factor driving the market growth
• Ongoing adoption of smart labelling in the healthcare sector for efficient communication regarding the drug dosage, and recording the data regarding the same is further fueling the demand for smart labels
• High cost associated with installation of smart label is likely to hinder the market growth
• With increasing penetration of IoT in the transportation sector for efficient product transport, asset management, higher security is expected to push the market growth uphill
• Higher popularity and penetration of conventional labels across application areas is acting as a major road block for the market growth

Global Smart Label Market: Regional Overview

• North America

In North America, the market is expected to grow at a substantial pace owing increasing adoption across the transportation and packaging application. Increasing adoption of advanced technology for enhancing packaging and to preserve the quality of the product is driving its demand in the region. Growing health conscious population followed by increasing awareness regarding the products safety is driving attention towards the labelling.

• Europe

The market is projected to gain higher growth in the region owing to increasing awareness regarding the food labelling among the population. Increasing investment by the European food regulating authorities for simplification of the food labels to promote consumption of safe food, is expected to fuel the demand for smart labels.

Global Smart Label Market: Key Players Overview

• UPM:

With headquarters in Finland, UPM manufacturers and markets products & solutions used in food & beverage, logistics, personal care, and many more operation. The company operates through its six business segments: Biorefining, energy, Raflatac, specialty papers, communication paper, and plywood. The UPM Raflatac includes paper labels, film labels, adhesive liners and graphic sheets, which finds application in home and personal care products, logistics and ecommerce, food and beverages and pharmaceuticals. In 2019, UPM Raflatac, Xeikon and Magic Add teams up for digital printing of smart labels

• Sato Holding Corporation:

Sato holding corporation engages in manufacturing and sales of technology products. The company offers software and services and labelling system used across retail, food safety, supply chain, healthcare, manufacturing. In 2018, Sato introduced LR4NX-FA automatic labelling system in the China and rest of Asia Pacific market to streamline the operations in the region. LR4NX-FA automatic labelling system is integrated with the SATO’s cloud-based IoT preventative maintenance solution SOS to promote stable operations.

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