Knowledge Sourcing Intelligence announces the publication of a new report on “Print labels Market - Forecasts from 2020 to 2025” to their offering.
Increasing health awareness among people in various parts of the world due to the rise in adulterated goods is considered as one of the prime reasons driving the demand for print labels.
As per the report, the market pertaining to the Print labels Market is expected to grow at a steady pace.
Rapid industrialization coupled with the growing disposable incomes in various parts of the world, are the major demand drivers for the print label market. Growing awareness of health and healthcare services and expanding scope of packaging and labelling guidelines by regulatory authorities are escalating the demand for print labels. Increasing aging population, particularly in Japan, Italy and France is fueling the demand for pharmaceuticals and in turn impacting the demand for print labels.
Demand for print labels rises in tandem with the demand for products. Labeling the products is not just a marketing tool to distinguish the brand from that of the competitors but also a compliance rule by regulatory authorities to disclose relevant information about the product, its expiry, used ingredients and any other safety precautions to be taken while handling the product. Print Industry goes a lot of transformation with changing technology but can never be replaced as long as people buy products. The demand for packaging for manufactured products is the biggest demand factor for this industry. The population of Asia Pacific and African has been on a constant rise fueling the demand for manufactured products which all use print labels. Products under food industry, healthcare, electronics, etc. all add to the demand for print label. Hence the market for Print Labels will be a growing sector.
By type, shrink sleeves is holding significant share as they are comparatively a new type of label which is quickly gaining popularity for product packaging in the variety of end-user industries. In the consumer goods industry, multiple brands are turning towards sleeve labels aiming to enhance the vibrancy of their product also these types of print labels are considered more cost-effective than the other forms which lead to its higher adoption across different industry verticals. Increasing the production of consumer durables goods is expected to be one of the prime drivers for the market during the forecast period. Also, rising investment by market players in the expansion of product lines coupled with the growing step taken towards new advance materials shows the sign of positive growth for the market in the coming future. For instance, recently, Indian film manufacturer Garware Polyester launched medium and low shrink PET shrink films used as sleeve labels. In addition, the growth of end-user industries like food and beverage and personal care in developing countries like India and China also propels the growth opportunities for sleeve print labels manufacturers in the coming years. Also, the Asia Pacific region is experiencing exponential growth in the field of e-commerce industry and with the growing household spending, the manufacturers are focusing on new and advanced sleeve labels to make their product more attractive is propelling the growth opportunities in the region.
Geographically, Asia Pacific region is expected to be the fastest growing region in the world owing to demographic or economic changes occurring there. Digitalization and improved capabilities of printers and presses have proven to be the biggest contributor to print label industry. Sectors such as FMCG, Healthcare and Personal care, which are heavily reliant on print labels, are driving force of economic activity in Asia-Pacific countries. In developing countries, industrialization is a change from agricultural to industrial economy. As more industries set up and slew of products are produced, demand for manufactured products rises due to rise in the per capita income. For instance, in the late 20th century, East Asian countries such as Singapore, Hong Kong, South Korea, among others, experienced high rates of industrialization due to large scale investments and cheap labor force. China and India too followed the bandwagon of industrialization with minor tweaks according to their histories. Consequently, employment generation got a stimulus and incomes of the people rose such that demand for manufactured products increased.
As a part of the report, the major players operating in the print labels market, which have been covered are Amcor PLC, Mondi Group, Constantia, Avery Dennison Corporation, CCL Industries, RR Donnelley & Sons Company, 3M, Cenveo Corporation, Innovia Films, and WestRock Company.
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This report segmented the print labels market on the basis following terms