Label printing will grow 2.8% per year until 2022
The provisional data of the report Smithers Pira on the “Future of the printing of labels to 2022” indicate that in 2017 this market has a global value of US $ 34,460 million and in the next five years will grow an average of 2.8% per year , until reaching US $ 39,500 million in 2022.
This figure contrasts with the annual growth rate of only 1.2% of the printing market in general: traditional printing applications see margins eroded by electronic media; However, labels and packaging are more resistant to this threat and still have significant potential, especially in countries where consumption is drifting towards more labeled products.
In this way, Asia accounts for 46% of the world market for labels by volume, but is expected to grow up to 48% by 2022. The only region that will advance at a higher rate is the emerging African market, but its participation will keep below 4% of the world total.
Even the most mature markets, such as the United States and the European Union, retain their potential, due, for example, to new labeling rules in sectors such as the pharmaceutical industry (the new drug counterfeiting directive is introduced in Europe in 2018).
The Smithers Pira report also details the current state of the digital label printing segment. The value share of digital printing is now 29.3%, compared to 20.8% in 2012, and is expected to reach 35.6% in 2022.
The research also points out that many print service providers are now adopting a hybrid work approach and progressively channeling work towards digital printing, as their productivity increases and order sizes decrease.