The global pre-printed tape market is estimated to be valued at USD 41.2 billion in 2023, with a projected increase at a CAGR of 3% during the forecast period from 2023 to 2033. By the end of the forecast period, the market share is expected to reach USD 55.4 billion, driven by factors such as attractive packaging, product differentiation, and technological advancements in the printing industry.
Key Insights:
- Growing Demand for Attractive Packaging: The demand for pre-printed tape is witnessing notable growth in the printing industry, driven by the need for attractive packaging and product differentiation. Pre-printed tapes, also known as custom-printed tapes, contain product-related information and help in decreasing pilferage by preventing unnoticed tampering.
- Cost-Effectiveness and High Quality: Pre-printed tapes offer cost-effectiveness and high quality, making them an attractive option for businesses. They help in reducing carton costs by eliminating the need for printed cartons, and facilitate easy tracing of lost shipments.
- Challenges and Restraints: Despite the significant growth opportunities, challenges such as the high cost of high-quality printing and fluctuations in raw material prices may act as restraints for the sales of pre-printed tapes. Building a printing plant requires substantial capital investment, posing a challenge for market players.
Regional Performance:
- North America: The demand for pre-printed tape in North America is expected to expand at an average rate of 28%, driven by the transition of the printing industry from conventional to digital printing machines. Pre-printed tapes are increasingly used in the region for communicating handling instructions, boosting market growth.
- Europe: Similarly, Europe is witnessing steady growth in the demand for pre-printed tape, with an estimated expansion rate of 24%. The region is experiencing a shift towards digital printing technology, driving the adoption of pre-printed tapes for various packaging applications.
Global Pre-Printed Tape Market: Dynamics
Rapid growth in the printing industry, coupled with demand for attractive packaging, product differentiation, and technological advancements are the key drivers for the growth in the pre-printed tape market. In addition, there are several advantages associated with pre-printed tapes that further accelerates the growth in the pre-printed tape market. Some of the advantages and benefits are: it reduces pilferage as printed tape cannot be broken and resealed without detection, it helps in reducing carton costs as it nullifies the need of carrying inventories of printed cartons, it helps in tracing lost shipments etc.
Digital printing in the pre-printed tape market is anticipated to be the fastest growing technology, owing to its attractive and cost effective solution for manufacturing high quality pre-printed tapes. However, higher cost of high quality printing and evaporation of ink may act as restraining factors for the growth in the pre-printed tape market.
Key Players
Some of the major players of the global pre-printed tape market are Castle Tapes Holdings, ADH Tape, Ameripak, Preferred Tape, Inc., Nadco Tapes & Labels, Inc., Intertape Polymer Group, ProtoPak Engineering Corporation, and many more.
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.
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Market Segmentation:
Based on printing technology:
- Lithography
- Flexography
- Digital printing
- Screen printing
- Others
Based on material:
- Polypropylene (PP)
- Polyethylene (PE)
- Polyvinyl Chloride (PVC)
- Aluminum and copper foils
- Others
Based on adhesive type:
- Hot-Melt
- Acrylic
- Solvent-based
- Water-based
- Others
Based on application:
- Bundling
- Carton Sealing
- Tamper Evident Seals
- Product and Company Identification
- Other
Based on end-use industries:
- Food & Beverage
- Pharmaceuticals
- Cosmetics & toiletries
- Others
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