The most recent study conducted by Report Ocean, titled “Global Freezer Label Market Size, Share, Pricing, Trends, Growth, Report and Forecast 2023-2030,” presents a comprehensive analysis of the worldwide market. This research delves into the factors driving the market, emerging trends, opportunities for development, as well as potential limitations that may affect the Freezer Label. The report provides an estimation of the global market size and examines recent strategic actions taken by prominent international competitors.
Global Freezer Label Market is valued at approximately USD 1.90 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 5.50% over the forecast period 2022-2029. Freezer Label is a white polypropylene film with an all-temperature adhesive formulated specifically for use in frigid environments. The Freezer Label market is expanding because of factors such as rising attention measures for crucial information on product packaging. However, the indication purpose in the field of medical to eliminate counterfeit conditions was promising for the freezer label market.
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According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3%. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.
According to the US Department of packaging board, retail sales of consumer-packaged goods sold under private labels in the United States reached 199 billion U.S. dollars. Since the global market value of pharmaceutical packaging was about 68.75 billion U.S. dollars and is forecasted to reach 104.88 billion U.S. dollars by 2022. Another important component driving space increase is Counterfeit medication HERMA InNo-Liner labeling system enables more eco-friendly packaging through shipping labels without any liner material. Meanwhile, direct thermal labels are a cost-effective solution which are frequently used by grocers for food information in products like meat or frozen food. However, Change in Atmospheric conditions stifles market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Freezer Label Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. Asia Pacific dominated the market in terms of revenue, owing to the dominance of expansion of the pharmaceutical industry with the rising development of various medicines is anticipated to boost sales of freezer labels specially in India were estimated to grow at a rate of 4.7% CAGR. Moreover North American region is the fastest growing region and estimated to create an incremental growth opportunity of US$ 273 Million during the period of 2022-2029. Since consumers in the United States were more inclined towards the latest technology.
Major market players included in this report are:
Herma gmbh
Avery Products Corporation
Ga international inc
Labelnet Ltd
CCL Industries Inc.
Consolidated label and co.
Essentra plc
Lintec corporation
Multi-Color Corporation
Pro Mach, Inc.
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Recent Developments in the Market:
In Oct 2022, BOXLAB Services and HERMA together made the procurement and use of dangerous goods labels more dependable, simpler, less costly, faster, and kinder to the environment.
In May 2021, CCL Industries Inc. acquired privately held Lux Global Label Asia Pte. Ltd. based in Singapore. LUX produces decorative labels for global customers in the ASEAN region.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Substrate:
Paper
Films
Foil
By Adhesive:
Hot melt
Water-Based
Acrylic
By Application:
Food & Beverage
Cosmetics
Pharmaceutical
Others
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By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Russia-Ukraine War on Market
The market is anticipated to suffer because of the Russia-Ukraine War. The demand for the market has decreased as a result of the political unrest and economic unrest in the area. The war had a detrimental impact on global economic activity, adding to inflationary pressures globally and hindering the post-pandemic recovery, even if it was not the primary cause of the slower-than-anticipated economic growth in 2022 and revised estimates for 2023.
The Five Forces analysis examines the following factors:
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
The PESTLE analysis takes into account the following dimensions:
- Political factors: This includes political policies, stability, and factors related to trade, fiscal policies, and taxation policies.
- Economic factors: This involves analyzing interest rates, employment or unemployment rates, raw material costs, and foreign exchange rates.
- Social factors: These encompass changing family demographics, education levels, cultural trends, shifts in attitudes, and changes in lifestyles.
- Technological factors: This examines changes in digital or mobile technology, automation, and research and development in the relevant industry.
- Legal factors: This entails analyzing employment legislation, consumer law, health and safety regulations, as well as international trade regulations and restrictions.
- Environmental factors: This dimension considers aspects such as climate change, recycling procedures, carbon footprint, waste disposal, and sustainability practices.
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