1. Overview of output value
During the 13th Five-Year Plan period, the total value of the global label printing market grew steadily at a cagR of about 5%, reaching US $43.25 billion in 2020. It is estimated that during the 14th Five-Year Plan period, the global label market will continue to grow at a compound annual growth rate of about 4% ~ 6%, and the total output value is expected to reach usd 49.9 billion by 2024.
As the world’s largest producer and consumer of labels, China’s market has been growing rapidly in recent five years. The total output value of the label printing industry has increased from 39.27 billion Yuan at the beginning of the 13th Five-Year Plan to 54 billion Yuan in 2020 (as shown in Figure 1), with a compound annual growth rate of 8%-10%. Although the statistics for 2021 have not been released yet, it is predicted that it will grow to 60 billion yuan by the end of 2021, making it one of the fastest growing label markets in the world.
In the label printing market classification composition, as shown in Figure 2, flexo printing total output value of 13.3 billion DOLLARS, the market share of 32.4%, the 13th five-year period annual output growth rate of 4.4%, its growth rate is being surpassed by digital printing.
2. Regional overview
China is far and away the leader in the global label market, and India’s label demand has been growing in recent years. During the 13th Five-Year Plan period, India’s label market grew by 7%, significantly faster than other regions, and is expected to continue to do so until 2024. Demand for labels grew fastest in Africa, at 8 per cent, but from a small base it was easier to achieve. Figure 3 shows the market share of major labels in the world during the 13th Five-Year Plan period. 
The development opportunity of label printing
1. Increased demand for personalized label products
Label can reflect the core value of the product, the use of personalized brand cross-border, personalized marketing can not only meet the unique needs of consumers, and can greatly improve the brand influence.
2. The convergence trend of flexible packaging printing and traditional label printing is further strengthened
With the increase of demand for short order and personalized flexible packaging as well as the influence of national environmental protection policy, the phenomenon of flexible packaging and label blending is further strengthened.
3.RFID smart tags have a bright future
RFID smart tags have maintained an average annual growth rate of 20% during the 13th Five-Year Plan period. It is expected that the global sales of UHF RFID smart tags will increase to 41.2 billion pieces by 2024.
Problems and challenges faced by label printing
At present, most label printing enterprises generally have the problem of talent introduction, especially in developed manufacturing areas, the shortage of skilled workers is particularly serious; Secondly, in recent years, the state has vigorously advocated green environmental protection and zero pollution emissions. Many enterprises, while improving quality and reducing cost, have also continuously increased input in labor and energy saving and consumption reduction. All of the above points hinder the development of the label printing industry.
In the face of the future economic growth slowdown, as well as the impact of multiple factors such as rising labor costs and increasingly stringent environmental protection requirements, label printing enterprises need to carry out intelligent transformation of production technology and introduce advanced digital printing equipment, meet new challenges with technological innovation and strive to achieve new development.
Post time: Mar-28-2022
