How large is the label market?
The labeling market in the USA is quite large and diverse, as it encompasses a wide range of products and services. It's difficult to estimate the exact size of the labeling market in the USA as there are no official figures available. However, some reports suggest that the market size is around $5-6 billion annually, with growth projections for the next few years. This includes labeling equipment, software, and services for various industries, including food and beverage, pharmaceuticals, chemicals, and logistics.
Additionally, the demand for labeling services is likely to increase due to the growing emphasis on product safety, traceability, and regulatory compliance.
The global market for label printing is projected to grow from $39.2 billion in 2018 to $49.5 billion by 2023, at a compound annual growth rate (CAGR) of 4.8% during the forecast period.
The US is one of the major markets for label printing, and the growth of the label printing market in the country is driven by factors such as increasing demand for packaged food and beverages, growing e-commerce industry, and increasing demand for pharmaceutical and medical products.