In recent times, packaging has become synonymous to communicating brand identity to consumers, and stakeholders in the industry are making a profitable deal out of this. The suit is also followed by manufacturers in the label printing machines industry, which is advancing at a steady pace, as found by the latest Transparency Market Research (TMR) study.
Packaging and transportation industries seek cost-reduction through product weight reduction, which has put pressure on manufacturers of label printing machines to accommodate longer rolls on the thinner base material, with better turnaround time. Manufacturers invest in automated and specialized colour performance technology to achieve shorter print runs, customization, and greater flexibility, thereby navigating the label printing machines market yet further. However, manufacturers need to offset the ‘pain point’ of the high cost that deters the adoption rate of label printing machines.
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Premiumization Meets Versatility with Thermal Label Printing Mechanism
Since visual appeal can turn into a one-shot deal to close sales, end-use industries are prioritizing investments toward offering an ‘expensive’ appearance to their products. As color is directly associated with appeal, manufacturers are diligently focusing on the development of monochrome and multicolor printers, out of which, monochrome printers are deemed suitable to enhance the appeal of products. According to TMR’s estimate, the sales of monochrome label printing machines will arrive at a value tantamount to ~US$ 4.4 Bn by 2027, while the popularity of multicolor label printing machines is projected to record a CAGR of ~5% during 2019-2027.
Beside the premiumization of labels, market players address grave concerns regarding the rising instances of product counterfeits through the introduction of sophisticated security features directly onto product labels by leveraging QR codes and barcodes, which allows consumers to validate the authenticity of the purchased goods. In order to accommodate security features, end-use industries are gradually moving toward thermal printers that offset challenges such as smudging of ink and stained labels that are associated with non-thermal label printing machines. The trend also points toward the versatility and durability of thermal label printers that complete the quest for quality over the cost attributes of end-use industries.
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Asia Pacific to Upkeep its Consolidated Market Position
A significant spurt in the demand for label printing machines is attributable to surging industrialization activities. The ‘Grab n’ Go’ food trend has compelled the food and beverage industry to roll out more packaged products. The curative over preventive healthcare approach has instigated the use of label printers in the pharmaceutical industry. Enhanced focus on skin and personal care is giving label printing machines the desired traction in the cosmetic industry. All these trends are allowing the manufacturing industry to make headway towards upholding the demand for label printing machines. This has presented improved market opportunities to market players in Asia Pacific, given the enormous potential of the manufacturing sector in the region. Japan is projected to remain home to market majors in the industry that seek measureable growth opportunities through market penetration and product innovation.
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