The onset of digital printing solutions for manufacturing of packaging materials is creating a highly lucrative market for packaging companies, printing service providers, and commercial printers. Eventually, success at the point of sale (PoS) is a multimillion-dollar business for brand owners and producers.
The global digital label printing market will grow at a significant CAGR throughout 2020-2030. Factors such as cost-effectiveness, less labor requirement, and reduced waste production are enabling broader adoption of digital label printing. Such benefits of digital label printing are making them commonplace in various sectors such as food & beverages, cosmetics, and pharmaceuticals. Further, FMI finds that the quantity of the packaging printed with digital printing will be threefold in contrast to its actual volume throughout the projected period.
Digitalization is paving way for innovative customer-centric business framework. Creativity is essential to gather customers’ attention at PoS. Digital label printing is offering market players a substantially broad field of value-capture opportunities. Studies find that the digital printing packaging market is slated to reach around US$ 30 Bn in the coming years.
Personalization is leading the pack in packaging trend in 2020. Manufacturers are developing customized digital labels to cater to increasingly targeted group of purchasers. Recent data reveal that about 7 out of 10 marketers believe personalization has a significant impact on their consumers. For instance, Frito-Lay prints faces on its potato chip packages, and Coca-Cola prints consumers’ names on their soft drink containers.
Digital label printing requires additional expenses to install particular equipment for production. Moreover, companies that have been immune to the digital trend are required to invest in up-skilling their workforce to deal with the complexities associated with digital label printing processes. As such, small- and medium-scale enterprises are keeping away from going digital.
With nation-wide lockdowns amid the COVID-19 pandemic, digital label printing manufacturers are witnessing huge demand for labels for hand sanitizers, face masks, as well as boxes for curbside delivery. Digital label printing is playing a crucial role, especially in the food & beverage industry. The pandemic is compelling end users to rapidly move towards automation, and digital label printing is poised to get a boost in the bucket list of these end users. As there is acute labor shortage due to travel restrictions, digital label printing will complement the existing label printing technology well amid the tough times.
North America and Europe continue to remain the epicenter of development prospects in the global digital label printing market, mainly owing to rapid growth in the labeling sector. Both the regions are home to pioneers of digital technologies. Moreover, the pace of broader economic structure in these regions acutely relies on their digital ecosystem.
Asia Pacific (APAC) is anticipated to account for high-value share in the global digital label printing market. Recent studies reveal that Asia will continue to maintain its supremacy in the labeling market, and is expected to capture around 45% of the worldwide revenue in the coming years. As such, market players are rapidly shifting their manufacturing units to APAC to remain well-placed for better returns.
Market players are boosting their market presence by offering new products forming mergers & acquisitions (M&A).
Players in the global market include:
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies
The global market is segmented as the following:
By System Type
By End Use
by - Sudip Saha, Managing Director and Co-Founder of Future Market Insights
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