A label is usually printed on biaxially-oriented polypropylene, a non-toxic, acid and solvent-resistant material. These properties make it an excellent choice for labels for food and beverage items. Color matching involves blending appropriate elements to produce the desired results. The RGB color of a monitor is combined with cyan, yellow, and black ink to produce an image that is close to the color of the printed image.
Market Statistics:
The global print label market is estimated to account for US$ 45.1 Billion in terms of value by the end of 2021.
Global Print Label Market: Drivers
Rapid growth in manufacturing sector across developing regions is driving growth of the print label market. According to a recent CII-EY report, “FDI in India - Now, Next and Beyond, Reforms and Opportunities”, India can expect to attract anywhere between USD 120 billion to USD 160 billion in foreign direct investment (FDI) annually by 2025 if it manages to increase the FDI to GDP ratio between 3% to 4%. Approximately 50% of respondents surveyed for the report saw India among the top three economies or leading manufacturing destinations of the world by 2025.
Global Print Label Market: Opportunities
Increasing use of machine learning (AI) and automation across various sector is expected to enter the packaging and labelling market. This is likely to bring significant growth opportunities for the market players. AI will not replace skilled human input; rather, it will lend ‘cyber assistance,’ multiplying the efficiency and effectiveness of the human operator and manager.
Global Print Label Market: Restraints
High cost of devices in label printing is expected to restrict the market growth over the forecast period.
Global Print Label Market - Impact of Coronavirus (Covid-19) Pandemic
Packaging and label segments are considerably stable in the COVID-19 period, owing to the increasing demand for food and pharmaceutical packaging. However, the COVID-19 outbreak disrupted the supply chain across various end- user industries like food and beverage, healthcare, and industrial, among others. The pandemic created unprecedented challenges for supply chain and logistics management in the last few months. Products like canned food, toilet paper, sanitizers, and cleaning supplies have witnessed a significant rise in demand, while other end-use sectors have slowed dramatically.
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https://www.coherentmarketinsights.com/market-insight/print-label-market-5127
Key Takeaways:
The global print label market was valued at US$ 45.1 Billion in 2021 and is forecast to reach a value of US$ 62.22 Billion by 2030 at a CAGR of 4.26% between 2022 and 2030.
Flexography print processing segment held dominant position in the global Print Label market in 2021, accounting for 39% share in terms of value, increasing approval and launch of new products is expected to propel growth of the segment during the forecast period.
Global Print Label Market: Trends
Emerging e-commerce due to growing digitalization worldwide is fuelling growth of packaging industry. This in turn creating demand for print label. An outbreak of coronavirus has aggravated online sales, and consequently, there has been a requirement of smart labels to prevent the surge in counterfeit goods. Retailer chains are currently using Radio-frequency identification (RFID) labels added to products; through them, the person can automatically track them through the supply chain using the presence of electromagnetic fields.
There is a growing trend of personalized labels across developed countries. This is also projected to expand the print label market size.
Global Print Label Market: Competitive Landscape
Fort Dearborn, Multi Color Corporation, Mondi Group, Ahlstrom-munksjö Oyj, Autajon Group, Avery Dennison Corporation, CCL Industries Inc., Multi Packaging Solutions (Westrock Company), Clondalkin Group Holdings BV, Cenveo Corporation, Brady Corporation, Fuji Seal International Inc., Constantia Flexibles Group GmbH, R.R. Donnelley & Sons Company, 3M Company, Taylor Corporation, Huhtamaki OYJ, Taghleef Industries Inc., Ravenwood Packaging, Sato America, Coveris, Fedrigoni Self-Adhesives (Fedrigoni Group), Epac Holdings LLC, and Neenah Inc.
Global Print Label Market: Recent Developments
- In January 2021, The company announced the acquisition of ACPO ltd based in Ohio who is one of the leaders in pressure sensitive overlaminate products for the label and flexible packaging market. The company believes that this acquisition expands their product portfolio in the North American business of Label and Graphic Materials (“LGM”) reportable segment.
- In July 2020, CCL Industries Inc. announced that it has acquired Boston based firm InTouch Label and Packaging Co., Inc. This acquisition will help CCL to expand their services of digital label printing.
