New York, Aug. 10, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Print And Apply Labeling And Labeling Equipment Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)" - https://www.reportlinker.com/p06484227/?utm_source=GNW
The role of labels and packaging solutions in product management has changed significantly over the years, as the modern consumer’s ability to comprehend better what is inside the product, he/she chooses to purchase, has grown tremendously. While the demand for automatic labeling equipment is growing at a significant pace, leading manufacturers are further trying to innovate their product features with the adoption of next-generation technology trends.
Key Highlights
For instance, in November 2019, NOVEXX Solutions introduced it’s print & apply system’ designed for the application in a wide range of applications due to its compact design and intuitive operation. This system is also equipped with IoT connectivity, a multitude of digital interfaces, and real-time data acquisition capability and featured with a multi-stage, configurable I/O concept. The incorporation of the connected system in the automatic labeling machine is expected to be one of the sustaining trends over the forecast period.
According to Packaging World News, the preference among end-users for RFID (radio frequency identification) labeling solutions is increasing at a healthy pace, accounting for nearly one-fourth revenue share of the global market for labeling equipment. The high cost of automatic labeling machines has been a significant factor that has hampered the growth of the market. The overall cost plays an important factor when labeling is done for smaller batches, due to which it is not economically feasible in such cases.
FDA, in particular, has relaxed the nutrition labeling of products, which is expected to aid in increasing the distribution of packaged foods by restaurant operators leading to the optimum supply chain of products to consumers. Furthermore, food safety testing and processing industries are expected to function at full capacity owing to consumers stock-piling goods during the COVID-19 lockdown.
Print And Apply Labeling And Labeling Equipment Market Trends
Food and Beverages Sector to Hold Major Market Share
The increased consumer and brand interest in food and beverage labels and strict food and beverage labeling regulations boost the market growth for print-and-apply labeling and labeling equipment. The increased interest in product labels poses issues for government officials, who must guarantee that the information on food and beverage packages is helpful, credible, and presented clearly so that the consumer is not misled.
With the expansion of the global food trade, there is a greater need to standardize food labeling so that product information is easily understood and helpful to consumers in diverse countries. Also, with the surge in consumption of packaged food and ready-to-drink beverages, the need for accurate product and brand information has been propelled, which fuels the demand for print-and-apply labeling and labeling equipment.
Considering global regulatory demands, labeling is a highly intricate process that is even more vital to products than ever before. Regulatory authorities such as the US Department of Agriculture (USDA), the Food and Drug Administration (FDA), and the European Food Standards Agency (EFSA) have imposed strict regulations on food safety and packaging.
The FDA’s food safety authority has strengthened the Food Safety Modernization Act (FSMA) mandates in order to safeguard the public’s health and consumers. These regulatory bodies continually aim to improve food safety processes in manufacturing and distribution and enhance product traceability in the supply chain. This drives the sales of print-and-apply labeling and labeling equipment globally.
Furthermore, the demand for automation in the food and beverage industry is driving the market study. As consumers today are more conscious of product details, labels play a crucial role in providing information about the product and boosting sales. Manufacturers are now shifting to automated labeling systems to meet the growing demand in the food and beverage industry.
Asia Pacific is Expected to Register Fastest Growth
The growing urban population primarily drives the Asia-Pacific region due to increased packaged food demand, simple access to polymer films, and a relatively inexpensive labor pool. Shrink and stretch sleeves, economical options for adorning containers with complicated designs, are projected to see significant expansion in Southeast Asia, a price-sensitive market. Also, the consumption of FMCG products is anticipated to rise along with the demand for food and beverage products and personal care items, the necessity for high-speed and high-quality labeling solutions, and the need for packaging in the food business.
Due to the stringent regulations of the Chinese government on product import and export. According to the Food Labeling Standards of China (GB7718-2011), imported foods shall have clear markings that indicate the country of origin and the name and address of the general distributor registered in the country. One of the primary drivers boosting labeling machine demand in China is the rising desire for productivity gains across industries, including food and beverage, pharmaceutical, chemical, and technical developments. Chinese regulations demand that before goods can be imported or exported, labels for imported and exported (but not domestic) food items, including sweets, wine, nuts, canned food, and cheese, must be validated, and the products must be checked for quality.
Moreover, China’s pharmaceutical industry has experienced rapid progress since the country entered the World Trade Organization. As of 2021, China and Japan held 11.9% and 6% of the global pharmaceutical market, following the United States, which is responsible for 40% of the total revenue worldwide. Also, according to Xinhua, the Chinese pharmaceutical market generated 708.75 billion yuan (USD 102.54 Billion) in 2021, while Chinese domestic pharmaceutical companies amassed 502 billion USD (3.37 trillion RMB) in revenue.
Growing expansion, spending, and product innovation in the packaging area across multiple industries in the country have boosted the demand for labeling machines. For instance, in August 2022, Gujarat-based flexo press manufacturer AKO Flexo set up its production unit in Mundra Seaport for sales in India and overseas. The company already had a manufacturing plant in China that is expected to continue to operate to meet local demand. The new India plant will likely be operational by March 2023. AKO Flexo is a flexo press and label finishing equipment manufacturer. Three partners in India, China, and Canada jointly own the business.
The labeling machine market in India is import-driven, as it imports its product from Europe. The rising disposable income and growing population are key factors driving the labeling machine market revenue; owing to the increased spending on packaged food, personal care spending among the populace has also increased. Additionally, in June 2022, Printgraph Converting Machinery, a Mumbai-based company, along with Macrt and Perfect Printgraph Engineers, launched a digital label printer at the 15th Printpack India. The machine known as TruWo will meet the demands of the printing and packaging industries, which are looking for complementary technology to add to their existing print capabilities.
Print And Apply Labeling And Labeling Equipment Industry Overview
The print and apply labeling and labeling equipment market is fragmented with the presence of major players like SIDEL (Tetra Laval Group), Sacmi Imola SC, Krones AG, Kunshan Bojin Trading Co. Ltd., and others. Players in the market are adopting strategies such as partnerships, mergers, and acquisitions to enhance their product offerings and gain a sustainable competitive advantage.
In October 2022, Axon introduced new tamper-evident banding and shrink-sleeve labeling solutions. The new HydroTechTB tamper-evident band applicator from Axon has several benefits over similar products currently on the market. It has a patented film-delivery system that significantly reduces the amount of rework due to missed bands. Because of its ergonomic design, workers can splice film while it is running and access the film reel on their side, allowing for quick and effective changeovers with little downtime.
In July 2022, in order to offer traceability for drums carrying chemicals, German tight-head drum specialist Duttenhofer invested in an integrated solution from Herma comprising the labels for QR codes and a print-and-apply system. They have been utilizing Herma’s labeling solution for a period of time and are pleased with both the technology and the label material, which was created in accordance with VPA 9 regulations.
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
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