- Rising concern due to the availability of counterfeit goods is driving growth of global digital label printing market.
- The key factor restraining the market of digital label printing market is the high cost of the labeling.
- North America accounts for a significant share of global digital label printing market.
Digital label printing is used in product packaging for almost all the industries such as cosmetics, food & beverages, pharmaceuticals, FMCG, etc. The digital label printing market is expected to have significantly high growth rate as global packaging and labeling industry growing at a rapid CAGR. The volume of the packaging printed with digital printing is expected to be more than double as compared to its actual volume over the forecast period.
The growth of global digital label printing market is driven by the rising concern among the consumers about the legitimacy of products they buy due to the availability of counterfeit cosmetics, food and beverages, FMCG, and pharmaceutical products in the market. To counter the same, manufacturers are also opting for new packaging and labeling technologies for their products that not only confirms the authenticity of their products; it also helps in endorsing their products. The key factor restraining the market of digital label printing market is the high cost of the labeling, which will result in the increase in final packaging of the product. The company providing the digital label printing have significantly high opportunity in regions such as Asia-Pacific, Latin America, and Middle East Africa as in these regions the packaging industry is experiencing significantly strong growth rate which will lead to the growth of digital label printing market.
Based on the geographies, global digital label printing market is segmented into five regions — North America, Latin America, Europe, Asia-Pacific, and the Middle East & Africa. Among the regions mentioned above, North America accounts for a significant share of global digital label printing market, owing to the rapid rise in labeling industry in the region as compared to other regions. Europe is followed by North America market in global digital label printing market.
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The Asia-Pacific market for the digital label printing accounts for a comparatively high-value share in global digital label printing market, owing to the substantial growth of labeling and packaging industry in the region. Overall, the outlook for digital label printing market will have a positive growth over the forecast period, owing to the demand for innovation in the labeling industry as an anti-counterfeiting measure. The developing economy such as Middle East Africa and Latin America have a moderate opportunity in digital label printing market as the labeling industry in these regions is growing at a significantly high growth rate.
Few players in the digital label printing market are Bharat Traders, Samsun Label Printing Co., Ltd, Tangshan Wanjie Machinery Equipment Co.,Ltd, Dongguan grandrise Co., Ltd., Kingprint, Dongguan Yuchang Garment Accessories Co., Ltd., Shijin Plastic Packaging Co.,Ltd, Abundant Grace International Company Ltd., LY Fashion Limited, LabelTraxx, FORMTEC KOREA LTD, etc.
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