COVID-19 Impact Analysis on Global Digital Label Print Market
The outbreak of Coronavirus disease (COVID-19) acted as a massive restraint on the industry markets in 2020 as supply chains were disrupted due to trade restrictions and consumption declined due to lockdowns imposed by governments globally. In the COVID-19 outbreak, there has been a significant disturbance in most industries across the globe. While a few industries experienced a contraction in their production and businesses, others faced severe outcomes such as the shutdown of businesses and movement restrictions. But, with a nation-wide lockdown due to the COVID-19 pandemic, digital label printing manufacturers have observed huge demand for labels for hand sanitizers, face masks and others. The pandemic pushed end-users to adopt automation and digital label printing.
Market Overview - Global Digital Label Print Market
Market Driver
Digital printing solutions for the manufacturing of packaging materials is creating a major growth market for packaging companies. The growth of the digital label print market due to cost-effectiveness, less labour requirement and reduced waste production are major factors in increased adoption of digital label printing. Digital label printing is used in various industries, such as food and beverages, cosmetics and pharmaceuticals. Digital label printing offers high resolution of the image so that small images can be seen clearly. Further, increasing demand for manufactured goods and an upsurge in the disposable income of people also drive the print label print market growth. Moreover, increasing demand for manufactured goods and increasing demand for more attractive labels from customers fuel the digital label print market growth.
Market Restraint
The initial cost associated with installation of particular equipment for production is a major factor restraining the digital label print market. Furthermore, small and medium sized enterprises are adopting less digital label printing as companies have to invest in up-skilling their workforce to deal with the complexities associated with the digital label printing process, which is why small and medium
Market Opportunities
Increasing research and development to develop integrated full-label inspection systems in digital printers has created an opportunity in the digital label printers' market. The growing industries such as food and beverages, cosmetics, pharmaceuticals and others boost the great opportunity for the digital label printer market.
Market Growth Challenges
High cost of the labelling associated with the digital label printing is major growth challenge faced by the digital label print market.
Cumulative Growth Analysis
The report provides in-depth analysis of global digital label print market, market size, and compound annual growth rate (CAGR) for the forecast period of 2022-2028, considering 2021 as the base year. Increased use of the digital label printing in the packaging industry to lead the end-use expected to witness the growth at a specific CAGR from 2022-2028.
Market Segment Overview
The global digital label print market is segmented into system type, end-user and geography.
Digital Label Print Market by System Type
The system types studied in the global digital label print market are: Toner system, Inkjet System and others. The toner system segment accounts for the largest share in the digital label print market. The rising demand for commercial printing and the growing requirement for high-quality printing in the packaging amongst several end-use industries, like textiles, food and beverages and pharmaceuticals, is driving the growth of the printing toner system. Additionally, the rapid advancement of chemically prepared toner technology, including the growing preference for colour printing toners, is boosting the demand for toner systems in the digital label print market. Further, the need for high-quality output is produced by using toners, which systems increased demand for toner systems. Also, the rising consumer preference for printer toners due to their cost-effectiveness and reduced waste are expected to drive the segment growth.
Digital Label Print Market by End-User
The end-user of the digital label print market is converting companies, consumers, packaging companies. The packaging companies accounted for the largest share in the digital label print market. The increasing use of digital label printing in the packaging industry is a major factor boosting the digital label print market in the packaging industry. Further, growing retail and food & beverage sales and the rising importance of packaging boost the segment growth. Besides that, printing toners are also required to print labels for various containers used for packaging products such as food and beverage products, medicines, textiles and tablets.
Digital Label Print Market by Geography
On the basis of Geography, the digital label print market is segmented into North America, Asia-pacific, Europe, and the rest of the world. The North-America region segment commanded the largest share in the digital label print market. The increased use of digital printing toners in the region owing to rapid industrialization and increased consumer spending on a variety of end-use products in North-America. Further, rapid growth in the labelling sector and this region is home to pioneers of digital technologies. Adding to that, the growing economic structure in the increased adoption of the digital ecosystem which fuels the digital label print market.
Competitive Landscape Analysis
The competitive landscape analysis of the global digital label print market is certainly based range of market players operating in the agriculture market. The label print market is highly competitive due to the presence of a large number of players in the market. The demand for the digital label print market has increased and the key players are working hard to increase their market value to raise their company presence globally. The key player offers a wide range of digital label print based on types, and end-user. The market has major competitive analysis based on the new product, eco-friendly products, quality, and price. The players operating in the global digital label print market are adopting different strategies to cater to consumer demand.
The key players studied in the market are , Samsung Label Printing Co., Ltd, Bharat Traders, Bharat Traders, Shijin Plastic Packaging Co., Ltd, LY Fashion Limited, Tangshan Wanjie Machinery Equipment Co., Ltd, Kingprint, Dongguan grandrise Co., Ltd., Dongguan Yuchang Garment Accessories Co., Ltd., Tangshan Wanjie Machinery Equipment Co., Ltd, Kingprint, Dongguan grandrise Co., Ltd., Dongguan Yuchang Garment Accessories Co., Ltd., Abundant Grace International Company Ltd, FORMTEC Korea LTD, Label Traxx among others.
