Smart Label Market Size, Share, Growth Analysis, By Technology(Electronic Article Surveillance (EAS), RFID, Near Field Communication (NFC), QR Code), By End User(Retail, Food, Beverages, Healthcare & Pharmaceuticals), By Component(Batteries, Transceivers, Microprocessors, Others), By Region - Industry Forecast 2024-2031

Global Smart Label Market size was valued at USD 11.69 billion in 2019 and is poised to grow from USD 15.57 billion in 2023 to USD 35 billion by 2031, growing at a CAGR of 16.2% in the forecast period (2024-2031).

The global smart label market is relatively fragmented, with a high level of competition. The prominent players operating in the market are constantly adopting various growth strategies to stay afloat in the market. Product launches, innovations, mergers, and acquisitions, collaborations and partnerships, and intensive R&D are some of the growth strategies that are adopted by these key players to thrive in the competitive market. For example, the purchase of UNITER is announced by Checkpoint Systems. Together with Checkpoint's top-notch worldwide manufacturing footprint and extensive RFID expertise, Uniter's strong commercial presence in the significant Iberian clothes retail industry makes for an unbeatable combination. The key market players are also constantly focused on R&D to supply industries with the most efficient and cost-effective solutions. 'Avery Dennison Corporation', 'CCL Industries Inc.', 'Zebra Technologies Corporation', 'SATO Holdings Corporation', 'Alien Technology LLC', 'Thin Film Electronics ASA', 'Invengo Technology Pte Ltd.', 'Muhlbauer Holding AG & Co. KGaA', 'Smartrac N.V.', 'Graphic Label Inc.', 'Checkpoint Systems, Inc.', 'Intermec Technologies Corporation', 'Tageos SAS', 'Shenzhen Toppan Forms Card Technologies Co. Ltd.', 'Brady Corporation', 'Applied DNA Sciences, Inc.', 'Bizerba SE & Co. KG', 'Tyco Retail Solutions', 'Thinfilm Electronics, Inc.', 'PragmatIC Printing Ltd.'

The federal disclosure rule for genetically modified organisms (GMOs), which was established by the U.S. government, may be complied with using a smart label. The brands are required by this federal regulation to provide the product information in one of three different methods, including writing on the packaging, a symbol, or via a digital connection like a smart label. Through digital disclosures, buyers can learn more about the product than they might from a word or symbol.

Food packaging with smart labelling is increasingly being used by manufacturers. A developing market trend is consumers' increased interest in the moral standing and health advantages of foods and beverages. More information regarding the safety and morality of food and drink may be supplied because of smart labels' increased informational capacity. For instance, product provenance can be included on smart labels. Customers gain significantly from every stage of the food production process, from farm to fork, including recipes and monitoring food freshness.

In 2021, the North American segment held the largest share for the global smart label market. The basic goal of smart labels is to speed up digital access to information. The percentage of the population in the Americas that can access a mobile cellular signal, or mobile cellular coverage, is assessed by the ITU to be 95.5%. 95.5 percent of the population can get a 3G signal, and 88.7 percent can access a long-term evolution (LTE) mobile broadband signal, according to statistics on 3G and 4G coverage. At the end of 2019, there was a large use disparity, with the percentage of people using the Internet rising from 72.2% in 2017 to 76.7%. By the end of 2019, 69.8% of households had access to the Internet at home, up from 66.7% in 2017.