Major players in the label color printing market are Afinia Label, Epson Corporation, VIPColor Technologies Pte Ltd., Primera Technology, Canon Inc., Addmaster Corporation, Avery Dennison Corporation, HP Development Company L P, Toshiba TEC Corporation, Zebra Technology Corp, Cd&R, Brother Industries Ltd., Lexmark International Inc., Cab Produkttechnik GmbH & Co KG, and Dell Inc.
The global label color printing market is expected to grow from $2.77 billion in 2022 to $2.95 billion in 2023 at a compound annual growth rate (CAGR) of 6.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The label color printing market is expected to reach $3.77 billion in 2027 at a CAGR of 6.3%.
The label color printing market includes revenues earned by entities by printing color labels such as logos, images, and text in a variety of colors and fonts.The market value includes the value of related goods sold by the service provider or included within the service offering.
The label color printing market also consist of sales of thermal transfer label printers and direct thermal label printers.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Label color printing refers to the process of printing labels with a full range of colors, usually using a color printer or a printing press for various purposes such as branding, product packaging, identification, and more.
Asia-Pacific was the largest region in the label color printing market in 2022. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main label color printing types are laser printers, inkjet printers, and others.A laser printer refers to a type of printer that uses a laser beam to produce high-quality text and images on paper.
The various techniques used are flexographic label printing, gravure label printing, screen printing, and digital label printing applied to food labels, beverages labels, cosmetics, pharmaceutical labels and retail products. The various end users are fast-moving consumer goods (FMCG), retail, packaging, personal care, pharmaceutical, and other end-users.
The rise in product customization is expected to propel the growth of the label color printing market going forward.Product customization refers to creating products or services that are tailored to meet the specific needs or preferences of individual customers.
This shift has resulted from a rise in the need for personalized experiences for customers.Label color printing allows companies to create custom product labels that are tailored to the unique needs and preferences of individual customers.
For instance, in January 2022, according to QPMarketNetwork, an online store selling custom print-on-demand products, more than 30% of customers demanded for customized products and are willing to pay 20% more price for these customizations.The businesses are experiencing a rise in conversion rates by 200% due to product customizations.
Therefore, the rise in product customization is driving the growth of the label color printing market.
Technological advancements are a key trend gaining popularity in the label color printing market.Companies operating in the label color printing market are adopting new technologies to sustain their position in the market.
For instance, In August 2022, Gallus Holding AG a Switzerland-based label printing manufacturer launched the Gallus One press for digital label printing which is a hybrid inline printing machine.This press is 340 mm wide and a roll-to-roll UV inkjet digital inline label press which is capable of running at a maximum speed of 70-meters per minute or 1,200 dpi in four colors plus white.
This press also provides complimentary service within a traditional analog operation and automation features for efficiency in digital printing.
In December 2022, Multi-Color Corporation a US-based print label manufacturer for branded products, acquired LUX Global Label.This acquisition broadens, diversifies, and enriches the product portfolio of Multi-Color Corporation by adding state-of-the-art pressure-sensitive labels, flexible packaging and shrink sleeves primarily for personal care and pharmaceutical products.
LUX Global Label is a US-based label solution company.
The countries covered in the label color printing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The label color printing market research report is one of a series of new reports that provides label color printing market statistics, including label color printing industry global market size, regional shares, competitors with a label color printing market share, detailed label color printing market segments, market trends and opportunities, and any further data you may need to thrive in the label color printing industry. This label color printing market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.