by Die-cut labels are widely used in industries like food and beverages, pharmaceuticals, electrical and electronics, retail labels and others. They are one of the cost effective ways of labeling products with attractive designs and graphics in order to have eye-catching product packaging. Die-cut labels offer an aesthetic look and allow showcasing important product information to attract consumers. With the growth of retail sector and e-commerce industries, die-cut labels have become essential for effective product branding and labeling. E-commerce industry is growing at a fast pace which demands proper labeling of products for safe delivery and identification purposes. Shipping and logistics companies are major consumers of die-cut labels to ensure goods reach the right destination without any damage or loss.
The global Die Cut Label Market is estimated to be valued at US$ 162.4 Mn in 2023 and is expected to exhibit a CAGR of 9.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends driving growth in the die cut label market is increasing demand for sustainable & eco-friendly labels. Consumers are becoming more aware about environmental protection which is compelling companies to switch to sustainable packaging materials and labeling techniques. Die cut labels made from recycled paper, wood or plant-based materials are gaining rising acceptance in the market. Market players are focusing on developing bio-degradable die cut label solutions using materials like corn starch or sugarcane to cater to the rising needs of environmentally conscious consumers and fulfill corporate sustainability goals. Shift towards sustainable labeling will remain a major trend in the forthcoming years.
Porter’s Analysis
Threat of new entrants: The threat of new entrants in the die cut label market is moderate. The market requires huge investments and established distribution channels making it difficult for new players to enter.
Bargaining power of buyers: The bargaining power of buyers in the die cut label market is high. Buyers have a variety of options to choose from due to presence of several manufacturers.
Bargaining power of suppliers: The bargaining power of suppliers is moderate. Raw material suppliers have dominance however changing suppliers is not difficult.
Threat of new substitutes: The threat of substitutes is low as die cut labels have various advantages over substitutes like flexibility in designs and cost effectiveness.
Competitive rivalry: The competitive rivalry in the market is high due to presence of numerous players struggling for larger market share.
Key Takeaways
The Global Die Cut Label Market Size is expected to witness high growth over the forecast period. The global Die Cut Label Market is estimated to be valued at US$ 162.4 Mn in 2023 and is expected to exhibit a CAGR of 9.5% over the forecast period 2023 to 2030.
North America is expected to dominate the global market over the forecast period. The market in the region is driven by high demand from the food and beverage industry. Asia Pacific is expected to be the fastest growing market during the forecast period driven by mounting demand from China, India and other developing economies of the region.
Key players operating in the die cut label market are Akzo Nobel N.V., PPG Industries, Inc., Sherwin-Williams Company, BASF SE, Hempel A/S. Akzo Nobel N.V. is one of the leading players in the global market. The company offers diversified product portfolio for die cut labels. Sherwin-Williams Company focuses on expanding its production facilities to cater to increasing demand.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
