According to Stratistics MRC, the global printed label market
is accounted for $38.02 billion in 2017 and is expected to reach $67.02 billion by 2026 growing at a CAGR of 6.5% during the forecast period.
Increasing demand for manufactured goods and an upsurge in the disposable income of people worldwide are the key driving factors for the market growth.
However, a rise in raw material costs such as plastics in various forms increases the overall cost of the labels is some of the factors hindering the market growth.
Asia Pacific region is going to have a lucrative growth during the forecast period in emerging economies such as China, India, and Indonesia due to the incorporation of digital technology with the existing label printing technique.