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.
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.
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Digital Label Printing Market – Developments and Trends
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 Market – Region-wise Analysis
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.
Digital Label Printing Market – Growth Restraints
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.
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COVID-19 Impact Analysis on Market Growth
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.
Digital Label Printing Market – Competitive Analysis
Market players are boosting their market presence by offering new products forming mergers & acquisitions (M&A).
- Western Shield Label Company has acquired Label Print Technologies (LPT). The acquisition is offering a scope for complementary digital label and flexographic printing techniques and is help the company boost its presence in the Midwest and Ohio.
- Argraf, a prominent manufacturer of high-end wine and food labels, is broadening its product portfolio by acquiring a Xeikon CX3 digital press, planned particularly for the manufacturing of labels.
- Label Traxx has collaborated with HP PrintOS Print Beat Jobs API that is enabling users of HP Indigo digital press to link Label Traxx with HPs PrintOS in order to gather information received by the press such as production time, media, and ink usage obtained by the HP Indigo press.
Digital Label Printing Market – Segment Analysis
The global market is segmented as the following:
By System Type
- Toner system
- Inkjet System
- Others
By End Use
- Converting Companies
- Consumers
- Packaging Companies
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