Moreover, the rapid rise of digital print technology has made the print labels market more sophisticated and increased the adoption of print labels globally. Their versatility and flexibility, combined with the high graphics standards, are the key growth features.
New York, May 19, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Print Label Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" - https://www.reportlinker.com/p06074756/?utm_source=GNW
- Factors such as the increasing demand for manufactured goods and an upsurge in the disposable income of people worldwide may impel the prospects for market growth until the end of the forecast period. Additionally, digital printing enhanced the label possibilities of various end-user industries in label designs, which encouraged many companies to shift to digital printing.
- Many organizations believe that a print label is a perfect approach to attract a customer and gain massive traction toward the brand. Digital technology has now started aiding the industry in making attractive label designs to encourage potential consumers to make purchases. The integration of digital technology with the existing label printing technique is bound to bring a massive change to all the small-scale, as well as large-scale sectors, improving the overall market.
- Label printing, however, in harsh environments, is a challenge for companies due to the lack of necessary labeling technology and associated costs. Nevertheless, as the market is evolving, with the advent of new printing technology, it is expected that this challenge may have a minor effect on the overall growth of the market during the forecast period.
- The players in the market are also focusing on strengthening their sales and distribution channel, For instance, Xeikon opened an innovation center in Shanghai, designed to support the expanding Chinese needs The facility will enable visitors and customers to test a variety of applications and options for new revenue streams and business growth
- However, the ongoing COVID 19 pandemic has led to lockdown all over the world. Hence the closing down of bars, restaurants, and pubs across the globe owing to the lockdown, people are stocking up on spirits, wine, and beer. As per Eurocare, sales of alcohol in Belgium supermarkets have increased by 10 to 15 %. In Britain, alcohol sales outpaced the rise in sales of groceries, by a 22% jump. To keep the continuous supply, businesses are also developing delivery services to meet consumer demand
Key Market Trends
Food industry is Expected to Hold a Significant Share
- Labeling is an indispensable part of marketing, which impact and profoundly influences consumer buying behavior. With the expanding pool of brand choices in the Food industry, brand managers and designers are searching for ways to attract customers.
- Moreover, the growing demand for packaged food is also influencing the growth of this market as it ensures food quality, safety, and long shelf life. According to the Federation of Indian Chambers of Commerce & Industry (FICCI), the expenditure on packaged foods is increasing (at inflection point), due to an increase in per capita income, urbanization, and an increase in the number of working women.
- As the global economies advance, there is greater penetration of modern retail trade outlets, such as supermarkets and convenience stores, which can carry a wider range of frozen food products. In several emerging markets. According to the Organisation for Economic Co-operation and Development (OECD), sales of frozen and packaged foods in particular increased dramatically and the sales of personalized packed food were 56% higher year-on-year in Germany.
- Additionally the emerging markets such as India the food delivery and services market is fostering further growth in the country, with players, like Bigbasket, Grofers, Zomato, Swiggy, Scootsy, registering a rapid increase in sales. Hence this increasing sales of retail chains in emerging markets will drive the growth of this market.
Asia-Pacific is Expected to Hold a Major Share
- Asia-Pacific is home to the largest population in the world. The Chinese economy has been growing rapidly from the turn of the century, the government regulations allowing foreign firms to invest heavily, and the need for brand recognition among the large consumer-base has led advertising to reach a new high in the country.
- The significant applications of print labels in the country include the cosmetics, food, and medical care sectors, which have substantial demand, owing to the large population in the region.
- China is a fast-developing market. The adoption of efficient and better-performing technologies to produce high-quality products has resulted in the expansion of the print label market. With infrastructure development, the country is slowly shifting toward more sustainable methods, such as practices that support recycling. It is leading to a rise in the demand for products, such as liner-less labels, biodegradable face-stocks, and recyclable liners.
- Additionally, the growing cosmetics industry in this region is also supporting the growth of this market. Skincare and decorative cosmetics are growing soundly, with facial care and medical skincare witnessing a robust demand. Moreover, growth potential is also provided by anti-aging products and those intended to protect against environmental pollution. Hence this increasing trend of personalized packaging in the cosmetics industry is also fuelling the demand of this m, market.
The print label market is highly competitive and consists of several major players. Many companies are increasing their market presence by introducing new products or by entering into strategic partnerships or acquisitions.
- August 2020 -- ePac Holdings LLC expanded its production facility to France to meet the rising demand of its customers. This new production facility will not only extend its production capacity but also expands its customer base in the European region.
- Sept 2019 -- Fort Dearborn made a multi-million dollar purchase of five new high-performance HP Indigo labels and packaging presses. This will enable the company to expand production and speed delivery of digitally printed wrap-around labels, cut and stack labels, security labels, pressure-sensitive, and shrink sleeves.
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