Global Packaging Tape Printing Market 2017-2021
About Packaging Tape Printing
Tapes are used for packaging applications ranging from bundling, sealing, splicing, reinforcing, and hanging merchandise and are crucial component of the marketing product. The global packaging tape printing market consists of latest technologies and techniques used for printing tapes that have applications in the packaging industry.
Technavio’s analysts forecast the global packaging tape printing market to grow at a CAGR of 6.34% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global packaging tape printing market for 2017-2021. To calculate the market size, the report considers the revenue generated by different vendors through the sales of various packaging tape printing solutions.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Packaging Tape Printing Market 2017-2021
Technavio recognizes the following companies as the key players in the global packaging tape printing market: A B Graphic International, HP, Quad Graphics, and R.R. Donnelley & Sons Company
Other Prominent Vendors in the market are: Anglia Labels, Canon, FLEXcon, FRONTIER LABEL, Landa Corporation, and Xeikon.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Increasing adoption of colored packaging tapes. The use of colored tape printing has resulted in more customer attention toward products. Customer response toward the marketing activities of various companies launching their products has turned out to be effective because of better and innovative color printing strategies. The packaging tapes designed for packaging of products convey the brand message to customers in an effective way.”
According to the report, one of the major drivers for this market is Growing demand for premium packaging and aesthetic appeal. One of the major factors impacting product packaging is the aesthetic appeal. The way a product is packaged has a huge impact on customer perception regarding the product, in terms of quality and essential ingredients. The aesthetic appeal of a product influences the purchase of the product. Therefore, a good aesthetic appeal is a key factor that has the potential to affect product sales. The addition of a company's logo or other designs to the packaging tapes helps in better branding of the products. The premium packaging market was around $14 billion-$18 billion in 2016, wherein the cosmetic products segment held the major share of more than 35%.
Further, the report states that one of the major factors hindering the growth of this market is High initial investment for printing equipment. The cost associated with the equipment required for tape printing is high, especially for digital printing equipment. Therefore, the initial investment to be made is high, which makes it difficult for small vendors to enter the market. End-users expect high quality printed tapes, integrated with their design using the latest technology. Thus, the new vendors, as well as existing vendors starting new plants, have to invest immensely in the equipment required for tape printing.
A B Graphic International, HP, Quad Graphics, R.R. Donnelley & Sons Company, Anglia Labels, Canon, FLEXcon, FRONTIER LABEL, Landa Corporation, and Xeikon.