The global GHS Labels Market is expected to grow at a steady pace, reaching US$ 2.3 billion by 2030, with a CAGR of 4.8 percent between 2022 and 2030. The GHS labels market has been driven by the increased need for safe packaging formats among various end-use industries. Flexible packaging innovations have created openings for a variety of enterprises in the market.
In its recently published study, Future Market Insights provides important insights into the GHS labels market, including global industry analysis, size, share, growth, trends, and forecast for 2022–2030. The global GHS labels market is expected to increase by 1.6x in terms of revenue over the forecast period, owing to factors such as rising demand from chemicals and other sectors.
Around the world, strict laws are in place that requires dangerous compounds to be classified on labels. The GHS label industry will grow significantly in the next years, as the focus on safer packaging grows.
Manufacturers are projected to account for a larger share of GHS label demand among end-users. Manufacturers are predicted to account for more than half of the market demand, according to the survey.
GHS Labels Market Study Key Takeaways
• After a period of negative growth, GHS label sales are expected to rise modestly in 2022, with a 0.2 percent y-o-y increase in value.
• Chemicals sector expansion will support growth in the United States, allowing it to hold an 87 percent share of the North American market by 2022.
• The United Kingdom will have negative year-on-year growth in 2021, but sales are expected to rebound from 2022 onwards.
• Sales in Germany will increase in 2021, but sales in France will recover from 2022 onwards.
As brand owners seek to prevent counterfeit products, demand for GHS labels is increasing.
All forms of transportation, including rail, road, and sea, carry the risk of commodity loss owing to mishandling hazardous substances while in transit. However, the use of globally harmonized system labels can assist hazardous chemical shippers, buyers, and sellers in ensuring safe and easy handling of hazardous chemicals.
The chemical industry’s expansion has fueled growth in a variety of areas, including the GHS labeling business. With the growing demand for labeling, manufacturers are now offering advanced labeling solutions to brand owners that allow for chemical product tracking and tracing. However, a key difficulty for logistics companies is chemical counterfeiting, which can be mitigated by using GHS labeling.