Asia-Pacific On-Demand Color Labels Market - Growth, Trends, Forecast (2020 - 2025)
The Asia-Pacific on-demand color labels market was valued at USD 3003.564 million in 2019 and is anticipated to register a CAGR of 4.07% over the forecast period (2020-2025). The utilization of color labeling technology is likely to reduce the total color labeling cost by 50%, which is expected to fuel the market growth in Asia-Pacific. Furthermore, the incorporation and usage of this technology eliminate the cost of inventory of pre-printed waste and stock.
Pre-printed labels have a chance of ascended risk of errors, owing to printing over the improper stock, which is, in turn, projected to fuel the market growth in the region over the forecast period.
Color labels are becoming an integral part of an organization’s success, owing to the rising importance of branding, which offers a competitive edge to the product.
In Asia-Pacific, the growth in grocery retailers is at the most prominent phase, which is likely to drive the on-demand color label market growth.
Scope of the Report
On-demand color labels have diverse benefits over pre-demand. However, the cost per label is much higher than the conventional forms of labeling. The total cost of the color label is characteristically lower than 2-step label, owing to mitigation in transportation and storage expenditure.
Key Market Trends
Secondary to Hold Major Share
Secondary labeling is placed outside the primary packaging and is placed in a less prominent position, such as at the bottom, back, or side of a product.
A secondary label provides information about the product, such as health and safety warnings, its ingredients and nutritional values, manufacturer or supplier details, instructions for use, contact information, or detailed tracking and product information in a barcode format.
With the upsurge in the e-commerce industry in Asia-Pacific, the market for secondary packaging is on the rise, which subsequently generates demand for secondary labeling.
With the Asian countries acquiring leading positions, with the highest online shopping penetration, the region experiences significant demand for secondary packaging.
The Asia-Pacific On-Demand Color Labels market is highly competitive and consists of several major players. In terms of market share, few of the major players currently dominate the market. These major players with a prominent share in the market are focusing on expanding their customer base across foreign countries. These companies are leveraging on strategic collaborative initiatives to increase their market share and increase their profitability. In Mar 2018, Lexmark International Inc. announced Lexmark Pharmacy Order Assistant, a solution that fills the paper-based gaps in pharmacy order workflows, allowing users to process complex, paper-based pharmacy orders from their existing Lexmark smart multi-function printer (MFP) for increased accuracy, speed, and safety.
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