FMI’ Analyst view: ‘MellowWrap: Smooth packaging sensation’
Dec 12, 2023
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The soft pack label market is anticipated to have reached a valuation of US$ 494.9 million in 2024. The market is predicted to witness a sluggish CAGR of 3.10% over the forecast period. However, the market is garnering notable attention, fuelled by the global surge in demand for personal care products.
By 2034, the market is expected to surpass US$ 671.6 million. Soft pack label manufacturers are actively engaged in the development of new materials and technologies that yield labels with biodegradable, compostable, and recyclable properties.
Opportunity Analysis of Soft Pack Label
The growing awareness of the environmental impact of plastic packaging has become a driving force behind the increasing demand for sustainable soft pack labels.
The adoption of IML in soft pack label manufacturing, which is particularly prevalent in the food and beverage packaging sector, is expected to open up considerable prospects in the industry.
Leading companies in this domain are consistently enhancing their portfolios through the integration of innovative technologies and upgrades aimed at delivering smoother experiences for their consumers.
Trends in the Soft Pack Label Market
- Digital Printing Advancements by Manufacturers
- The soft pack label market is witnessing a trend towards advanced digital printing technologies, enabling more intricate designs, customization, and shorter production cycles.
- Focus on Smart Packaging
- Integration of smart packaging technologies, such as RFID and NFC, is becoming a notable trend, providing consumers with interactive and informative experiences through their soft pack labels.
- Rise of Antimicrobial Solutions
- The market is experiencing a surge in the development and adoption of antimicrobial label solutions aimed at enhancing product shelf life and ensuring hygiene, particularly in the food and healthcare sectors.
- Increased Focus on Sustainable Materials
- Sustainability remains a dominant trend, with a growing preference for labels made from recyclable, biodegradable, and compostable materials, aligning with global environmental consciousness.
- Adoption of Intelligent Labels
- Intelligent labels incorporating technologies like QR codes, augmented reality, and sensors are gaining traction, providing additional functionalities such as product tracking, authentication, and real-time information access.
Country-Wise Analysis
Soft Pack Label Industry in the United States
The soft pack label industry in the United States witnesses a moderate 3.50% CAGR through 2034. However, the forecast predicts a slight boost in demand owing to:
- The fast-paced United States lifestyle drives demand for on-the-go packaging solutions.
- Increasing consumer preference for personalized nutrition boosts demand for custom soft pack labels.
- United States manufacturers focus on eco-friendly soft pack labels to meet environmental standards.
- Growing health consciousness among consumers fuels the demand for labels on health-related products.
- The rise in online shopping prompts the need for durable and visually appealing labels.
Soft Pack Label Industry in Germany
- The soft pack label industry in Germany showcases growth with a 4.20% CAGR through 2034.
- Germany's aging population fuels the demand for easy-to-open and resealable packaging solutions.
- Time-constrained consumers drive demand for convenient and portable soft pack labels.
- Growth in online grocery shopping prompts a need for suitable packaging solutions.
- German consumers prefer eco-friendly options, contributing to the demand for sustainable soft pack labels.
Soft Pack Label Industry in Japan
The soft pack label industry in Japan exhibits robust growth with a 5.00% CAGR through 2034.
- Soft pack labels gain traction in Japan's convenience stores due to their compact size and portability.
- Resealable zippers on soft pack labels cater to the needs of Japan's aging population.
- Japanese consumers seek customized packaging, leading to the popularity of soft pack labels.
- Soft pack labels offer convenient packaging for online grocery delivery in the tech-savvy Japanese market.
Soft Pack Label Industry in Australia
The soft pack label industry in Australia demonstrates an average CAGR of 3.50% during the forecast period.
- Increasing health awareness prompts demand for soft pack labels for packaging healthy snacks.
- The growth of online grocery shopping requires packaging suitable for shipping and storage.
- Soft pack labels find extensive usage in Australia's food service industry for condiments and single-serve items.
- Australians favor lightweight and compact packaging, driving the popularity of soft pack labels.
- Brands focus on creating visually appealing soft pack labels to attract consumers in the competitive Australian market.
Soft Pack Label Industry in India
- The soft pack label industry in India experiences rapid growth with a steady 6.50% CAGR during the forecast period.
- Increasing disposable incomes lead to a willingness to spend on premium packaging solutions.
- The growth of eCommerce in India drives demand for soft pack labels suitable for online shopping.
- Indian consumers increasingly prefer environmentally sustainable options, boosting the adoption of soft pack labels.
- Brands leverage soft pack labels as a premium packaging solution to cater to the evolving preferences of Indian consumers.
Soft Pack Label Industry in the United Kingdom
The soft pack label industry in the United Kingdom exhibits moderate growth with a 3.10% CAGR through 2034.
- The shift towards smaller households drives demand for single-serve packaging solutions.
- British consumers are increasingly willing to pay a premium for high-quality and aesthetically pleasing packaging.
- The United Kingdom government's initiatives to promote sustainable packaging practices create a favorable environment for the growth of soft pack labels.
- The emphasis on sustainability influences consumer choices, contributing to the adoption of soft pack labels as a more environmentally friendly option.
Competitive Landscape in the Soft Pack Label Market
The soft pack label industry is highly competitive, with several established and emerging players competing for market dominance. The key players in the market offer a wide range of soft pack label solutions, catering to the diverse needs of customers across different industries. They also invest heavily in research and development to develop innovative and sustainable label solutions.
In addition to the major players, there are several regional and local players operating in the soft pack label market. These players play a significant role in meeting the demand for customized and personalized label solutions.
The competition in the soft pack label market is expected to remain intense in the coming years. The key players are focusing on expanding their product portfolios, developing innovative label solutions, and expanding their geographic reach to maintain their competitive edge.
Recent Developments in the Soft Pack Label Market
- CCL Industries acquired Innovia Films, a leading producer of specialty films for packaging and other applications. The acquisition will expand CCL Industries' portfolio of soft packaging materials and solutions.
- Henkel launched its new Technomelt PUR 390 HS hot melt adhesive for soft pack label applications. The new adhesive is designed to provide high-performance bonding between soft packaging materials and labels, even in challenging conditions such as high humidity and low temperatures.
- Avery Dennison launched its new rPET (recycled polyethylene terephthalate) label material for soft packaging applications.
These insights are based on a report by Ismail Sutaria Soft Pack Label Market by Future Market Insights.
