Market Research Report
Global Print Label Market - Segmented by Technology (Offset, Flexography, Rotogravure), Type (Wet-glued Label, Pressure-sensitive or Self-adhesive Labels, Linerless Label), End-User, and Region - Growth, Trends and Forecast (2018 - 2023)
|Published by||Mordor Intelligence LLP||Product code||394116|
|Published||Content info||101 Pages
Delivery time: 1-2 business days
|Global Print Label Market - Segmented by Technology (Offset, Flexography, Rotogravure), Type (Wet-glued Label, Pressure-sensitive or Self-adhesive Labels, Linerless Label), End-User, and Region - Growth, Trends and Forecast (2018 - 2023)|
|Published: May 14, 2018||Content info: 101 Pages||
The print label market was valued at USD 38.972 billion in 2017 and is expected to reach a value of USD 53.782 billion by 2023 at a CAGR of 5.14% over the forecast period of 2018-2023. The regions considered in the scope of the report include North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa.
Print labels are the primary source of communication between a company and its customers. Labels contribute majorly to how a consumer perceives a particular product, while looking at a product label and how much of an impact it makes on the consumer's mind. The evolution of print technology and advancements in technology are leading to the reduction in cost and are the major factors driving the market. Factors, like the increasing demand for manufactured goods and an upsurge in the disposable income of people worldwide, will impel the prospects for market growth, until the end of the forecast period. Moreover, the integration of digital technology with the existing label printing technique is bound to bring a huge change to all the small-scale as well as large-scale sectors, improving the overall market. For instance, Heineken's "Design Your Own Heineken" campaign involved the use of this technology that enables the customers to design their beer bottle cover or sleeve. Furthermore, an aging population, growing income disparity, and busier lifestyles have generated interest in health & wellness and convenience-oriented food products. These developments have fostered the trends of product premiumization and value consciousness which subsequently results in the growth of print labels.
Evolution of Digital Print Technology will Drive the Market
The rapid ascension 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. This technology can print on any kind of material such as film, paper, and metal substances. The digital print technology made the process of printing package labels faster, as this method does not require the use of printing plates and press set-up material. The high-resolution display of digital labels makes the print labels easier to read.
A major trend observed in the print label industry is the proliferation of stock keeping units that fragment long print runs into several shorter runs. Digital printing is gaining prominence with its ability to print short runs with minimal downtime. With the evolution of new digital technologies such as UV inkjet and water-based inkjet, digital print technology is becoming advanced and is propelling the digital printing growth, which, in turn, is driving the print labels market.
FMCG will Witness a Rise in the Demand for Print Labels
Labeling is an indispensable part of marketing, which impact and profoundly influences consumer buying behavior. With the expanding pool brand choices in FMCG, brand managers and designers are searching for ways to catch customers. Increasing demand for personal care products and food & beverage is expected to drive consumption of FMCG products. Increasingly, consumers are curious about information about their health, safety, environmental and socioeconomic characteristic of food products. Manufacturers are using labeling to provide this kind of information. The beverage industry is witnessing a growing trend of print labeling owing to personalization. Moreover, wine brands spend less on advertising than other beverages, so labeling is acting as the crucial element at the point of purchase.
In addition, accelerating e-commerce with an expanding penetration of the internet and smartphone has augmented the growth of the print label market. Manufacturers are continually looking for new ways to present their products and create new identities for their brand. This demand forces new labeling technologies to develop and expand continuously.
Asia-Pacific Accounted for the Largest Share in the Market
Asia-Pacific is home to the largest population in the world. The Chinese economy has been growing rapidly from the turn of the century, 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 major applications for the print label in the Asia-Pacific region are in cosmetics, food, and medical care, which has a huge demand due to the large population in the region. Consumers prefer high-quality food & beverage, encouraging the growth of packaged food & beverage in the region. In 2016, the sales value of total packaged food in the Indian food market amounted to about USD 50.78 billion. Further, South Korea's packaged food market is ranked 15th largest in the world. The packaged food market is fairly concentrated, with major South Korean manufacturers controlling significant portions of their respective sub-sectors. Hypermarkets and supermarkets distribute the vast majority of packaged food and compete against brand names with their own private labels.
This enables retailers to expand their private labels to attract more customers thus, positively contributing to the growth of the print label market. Moreover, the retail market in Malaysia is anticipated to grow over the forecast period owing to increasing tourist influx, higher disposable incomes, and government initiatives to expand the retail sector.
Key Developments in the Market
November 2017: Mondi announced a partnership in printability and knowledge sharing with Litobal to further intensify their business-related partnership. It would focus on printability in order to achieve optimum brand appearance and meet market needs. Litobal is a partner of Mondi's exclusive Print Competence Centre.
October 2017: Fort Dearborn expanded its role in the growing shrink sleeve market. After the acquisition of SleeveCo. in 2016, the company gained an additional facility in Dawsonville Georgia, taking its number of operating division in the country to 15.
March 2017: Autajon invested in China, where the Group had purchased three factories specialized in adhesive labels. Moreover, Autajon Group is now looking to acquire new companies to purchase in Asia and also in other regions.
The major players include - FORT DEARBORN, MONDI GROUP, MUNKSJO GROUP, AUTAJON GROUP, AVERY DENNISON, AND CCL INDUSTRIES, amongst others.
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