Paper Label Market

The global paper label market is projected to see growth in both consumption and production over the next eight years. Despite fluctuations over the past decade, some countries like Ireland have shown significant growth in both consumption and production. The market is also seeing consistent growth in global imports and exports, with China and Germany leading in exports and Mexico dominating imports. Price trends vary by country, with Hong Kong SAR having the highest export price per ton in 2022. Overall, the paper label market is expected to continue growing in the near future.

Market Forecast

Driven by increasing demand for labels of paper or paperboard worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +3.0% for the period from 2022 to 2030, which is projected to bring the market volume to 27M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +4.8% for the period from 2022 to 2030, which is projected to bring the market value to $178.9B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Labels Of Paper Or Paperboard

After six years of growth, consumption of labels of paper or paperboard decreased by -17.3% to 21M tons in 2022. Over the period under review, the total consumption indicated a strong expansion from 2012 to 2022: its volume increased at an average annual rate of +6.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +47.5% against 2014 indices. As a result, consumption attained the peak volume of 25M tons, and then plummeted in the following year.

The global paper label market value contracted to $122.8B in 2022, waning by -10.8% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, the total consumption indicated noticeable growth from 2012 to 2022: its value increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +54.2% against 2012 indices. As a result, consumption attained the peak level of $137.7B, and then shrank in the following year.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were Ireland (3.9M tons), Denmark (3M tons) and China (1.7M tons), with a combined 41% share of global consumption.

From 2012 to 2022, the biggest increases were recorded for Ireland (with a CAGR of +66.6%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, the largest paper label markets worldwide were Ireland ($16.7B), the United States ($12.7B) and Japan ($12B), together comprising 34% of the global market.

In terms of the main consuming countries, Ireland, with a CAGR of +66.5%, saw the highest rates of growth with regard to market size over the period under review, while market for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of paper label per capita consumption in 2022 were Ireland (765 kg per person), Denmark (510 kg per person) and Spain (15 kg per person).

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the leading consuming countries, was attained by Ireland (with a CAGR of +65.3%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Labels Of Paper Or Paperboard

In 2022, after six years of growth, there was significant decline in production of labels of paper or paperboard, when its volume decreased by -18.9% to 20M tons. In general, the total production indicated a remarkable increase from 2012 to 2022: its volume increased at an average annual rate of +5.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +52.1% against 2015 indices. The pace of growth was the most pronounced in 2021 with an increase of 51% against the previous year. As a result, production attained the peak volume of 24M tons, and then contracted sharply in the following year.

In value terms, paper label production stood at $98.1B in 2022 estimated in export price. The total output value increased at an average annual rate of +2.8% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2018 with an increase of 18% against the previous year. As a result, production attained the peak level of $103.2B. From 2019 to 2022, global production growth remained at a somewhat lower figure.

Production By Country

The countries with the highest volumes of production in 2022 were Ireland (3.9M tons), Denmark (3M tons) and China (1.9M tons), with a combined 44% share of global production.

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the key producing countries, was attained by Ireland (with a CAGR of +68.5%), while production for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Labels Of Paper Or Paperboard

For the sixth consecutive year, the global market recorded growth in supplies from abroad of labels of paper or paperboard, which increased by 14% to 2M tons in 2022. Over the period under review, imports posted a resilient expansion. The pace of growth was the most pronounced in 2021 with an increase of 21%. Global imports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, paper label imports expanded to $6.1B in 2022. The total import value increased at an average annual rate of +2.0% from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by 16%. Global imports peaked in 2022 and are expected to retain growth in the near future.

Imports By Country

Mexico dominates imports structure, amounting to 1M tons, which was approx. 52% of total imports in 2022. It was distantly followed by Belgium (91K tons), committing a 4.7% share of total imports. France (74K tons), the United States (56K tons), Spain (51K tons), Canada (50K tons), Germany (45K tons), the Netherlands (44K tons), Poland (35K tons) and the UK (33K tons) held a little share of total imports.

Mexico was also the fastest-growing in terms of the labels of paper or paperboard imports, with a CAGR of +23.7% from 2012 to 2022. At the same time, Belgium (+13.2%), France (+10.7%), Poland (+10.3%), Germany (+5.3%), Canada (+3.8%), the Netherlands (+3.7%), Spain (+3.2%) and the United States (+2.8%) displayed positive paces of growth. The UK experienced a relatively flat trend pattern. From 2012 to 2022, the share of Mexico increased by +36 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($434M), Germany ($330M) and France ($321M) constituted the countries with the highest levels of imports in 2022, with a combined 18% share of global imports. Mexico, the Netherlands, Canada, the UK, Belgium, Poland and Spain lagged somewhat behind, together accounting for a further 23%.

Poland, with a CAGR of +5.8%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

The average paper label import price stood at $3,136 per ton in 2022, which is down by -8.8% against the previous year. In general, the import price saw a abrupt setback. The most prominent rate of growth was recorded in 2016 when the average import price increased by 0.4% against the previous year. Global import price peaked at $6,703 per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the United States ($7,695 per ton), while Mexico ($287 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+0.7%), while the other global leaders experienced mixed trends in the import price figures.

Exports

World Exports of Labels Of Paper Or Paperboard

In 2022, shipments abroad of labels of paper or paperboard increased by 6.8% to 701K tons, rising for the second year in a row after two years of decline. The total export volume increased at an average annual rate of +2.5% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 with an increase of 19%. The global exports peaked in 2022 and are expected to retain growth in the near future.

In value terms, paper label exports rose significantly to $6B in 2022. The total export value increased at an average annual rate of +2.5% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The most prominent rate of growth was recorded in 2021 when exports increased by 19% against the previous year. Over the period under review, the global exports reached the peak figure in 2022 and are expected to retain growth in the near future.

Exports By Country

China represented the largest exporter of labels of paper or paperboard in the world, with the volume of exports resulting at 195K tons, which was approx. 28% of total exports in 2022. Germany (59K tons) ranks second in terms of the total exports with an 8.4% share, followed by the United States (7.5%) and Belgium (6.6%). The Netherlands (29K tons), Hong Kong SAR (27K tons), Poland (25K tons), Italy (24K tons), France (17K tons), Canada (14K tons), Spain (14K tons), the UK (12K tons) and Russia (11K tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to paper label exports from China stood at +5.1%. At the same time, Russia (+26.4%), Belgium (+14.5%), Poland (+9.7%), Canada (+4.1%), Italy (+3.3%), France (+1.5%) and the Netherlands (+1.1%) displayed positive paces of growth. Moreover, Russia emerged as the fastest-growing exporter exported in the world, with a CAGR of +26.4% from 2012-2022. Germany and the United States experienced a relatively flat trend pattern. By contrast, the UK (-1.1%), Spain (-2.3%) and Hong Kong SAR (-4.5%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China, Belgium and Poland increased by +6.2, +4.4 and +1.7 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($1.4B) remains the largest paper label supplier worldwide, comprising 22% of global exports. The second position in the ranking was held by the United States ($611M), with a 10% share of global exports. It was followed by Germany, with an 8.6% share.

In China, paper label exports increased at an average annual rate of +9.2% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the United States (+0.8% per year) and Germany (+0.3% per year).

Export Prices By Country

In 2022, the average paper label export price amounted to $8,580 per ton, falling by -1.6% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the average export price increased by 4.7% against the previous year. Over the period under review, the average export prices attained the peak figure at $9,039 per ton in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Hong Kong SAR ($15,540 per ton), while Russia ($2,352 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+3.8%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform