The label market share in North America will post an incremental growth of USD 4.58 billion, progressing at a CAGR of almost 2% during the forecast period. The increase in demand from end-user industries will offer immense growth opportunities to market vendors. The label market in North America is fragmented, and the vendors are deploying growth strategies such as low-pricing strategies and strengthening the local customer base to compete in the market.
Technavio’s report on “Label Market in North America by Type and Geography - Forecast and Analysis 2021-2025” provides a detailed analysis of the prevalent market forces, trends, and challenges likely to impact the market in focus.
The label market in North America is segmented by type (pressure sensitive, glue applied, sleeve label, in mold, and others) and geography (US, Canada, and Mexico).
The growth of the label market size in North America by the pressure-sensitive segment will be significant during the forecast period. Pressure-sensitive labels are self-adhesive labels that do not require any fasteners, glue, heat, or water to form bands. These labels are gaining higher traction compared with other labels owing to their numerous advantageous properties.
The tremendous growth in the heat-shrink label market will facilitate the label market growth in North America. 82% of the market’s growth will originate from the US during the forecast period.
The increase in demand from end-user industries will directly influence the sales of labels in North America. In addition, the increase in demand for colored labeling is one of the major label market trends in North America that will positively impact the market growth. However, factors such as the (challenges) will hamper the label market growth in North America.
The market is fragmented due to the presence of several players. Some of the major label market vendors in North America are:
To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions.
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Precise market size estimation during the forecast period 2021-2025.
CAGR of the label market in North America forecast during 2021-2025.
Market-level data on units, average selling prices, and values of the label market share in North America.
Prediction of the upcoming trends, drivers, and factors that challenge the growth of the label market in North America.
Label industry growth across North America.
