The global label color printing market is expected to grow from USD 3.41 billion in 2021 to USD 5.34 billion by 2030, at a CAGR of 5.12% during the forecast period 2022-2030, as per the report published by The Brainy Insights.
The FMCG sector uses label color printing to provide consumers with information on the items' manufacturing information, expiration date, caloric value, nutritional value, brand name, and price, among other things. Similarly, it is employed in the pharmaceutical sector to show consumers sensitive drugs/information, their components, and other crucial data. Label color printing is also used in the packaging, retail, cosmetics, and personal care markets. Label color printing is a distinctive marketing tactic that aids in making a company stand out from rivals to boost sales. Market participants across industries are required by government legislation to label their products with the appropriate information to protect the interests of consumers. Therefore, the expansion of the label color printing market will be driven by an increase in demand for label color printing from market players in the FMCG, retail, packaging, personal care, and pharmaceutical industries. There has been a growth in demand for packaged food and beverages in developing economies. The increasing demand can be attributed to the advent of urbanization and the increase in disposable income. Additionally, the e-commerce boom and rising internet usage have generated a demand for packaging materials that ultimately fuel the expansion of the packaging business. Additionally, the personal care products and cosmetics market is expanding, which is good news for the label color printing industry. The market for label color printing will expand as retail chains spread more widely throughout developing countries. The high cost of installation of label color printing will hamper the market's growth. The increasing adoption of alternative labeling options such as RFID will challenge the development of the label color printing market.
To enhance their market position in the global label color printing market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
Market Growth & Trends
Skincare is an essential part of personal care. Consumer spending on these products has been rising over the years due to the increased emphasis on having an aesthetic physical appearance. The growing millennial population is inclined towards ingredient-based products that are natural and chemical-free, plant-based, and against animal cruelty. The rising interest and consciousness about the product's ingredients have pushed the market players to produce more natural skincare products & cut down on chemical-based products. Also, the players have invested heavily in labeling their products correctly to attract more customers and retain existing ones. The demand for label color printing in the personal care market will propel the growth of the label color printing industry.
The type segment is divided into laser printers, inkjet printers, and others. In 2021, the laser printers segment dominated the market with the largest market share of 67% and market revenue of 2.28 billion.
The application segment is divided into beverage labels, cosmetics, food labels, retail products, pharmaceuticals, and others. In 2021, the food labels segment accounted for the largest share of the market, with 44% and a market revenue of 1.50 billion.
Regional Segment Analysis of the Label Color Printing Market
Among all regions, the Asia Pacific region emerged as the largest market for the global label color printing market, with a market share of around 41% and 1.39 billion of the market revenue in 2021. The label color printing market in the Asia Pacific has been expanding rapidly. China dominates label color printing in the Asia Pacific. The massive population of China and India is driving the consumer demand in the market for various goods ranging from food & beverages to consumer goods and pharmaceuticals. Label color printings are primarily used in these industries. The growing food & beverages, consumer goods, and pharmaceuticals market will translate into an equal rise in demand for label color printing as these industries extensively use the label color printing services regularly. The packaged food market reached USD 65 billion in 2020 in India and is ranked as the third-largest market for packaged food, according to the India Brand Equity Foundation (IBEF). Additionally, the Associated Chambers of Commerce and Industry of India recently released data indicating that India's organized packaged food market has grown from INR 530 million in 2016 to INR 780 million in 2020. Therefore, the growth of packaged food industry will propel the development of the label color printing market.
Key players operating in the global label color printing market are:
This study forecasts global, regional, and country revenue from 2019 to 2030. The Brainy Insights has segmented the global label color printing market based on the below-mentioned segments:
Global Label Color Printing Market by Type:
Global Label Color Printing Market by Application:
About the report:
The global label color printing market is analyzed based on value (USD Billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, raw material analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.