The research study covers the present scenario and growth prospects of the global packaging tape printing market for 2016-2020. The report also presents the vendor landscape and a corresponding detailed analysis of the major vendors operating in the market. It includes vendors across all geographical regions.
From the production point of view, quality and technology play an important role in the global packaging tapes market. The quality standards have been implemented by most of the key vendors, and also the adoption rate of most recent technologies is high. These two factors have high importance in the market. However, small and medium-sized enterprises (SMEs) have not been able to scale up on these factors leading to a high-risk range.
Technavio transportation and logistics analysts highlight the following four factors that are contributing to the growth of the global packaging tape printing market:
- Growth in packaging and labeling industry
- Growth of colored labeling
- Increased demand for premium packaging
- Improved marketing activities
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Growth in packaging and labeling industry
The significance of packaging is increasing worldwide. Apart from providing information about the price and name of the product, packaging plays a big role in attracting customers in terms of design, color, and ingredients. Also, the convenience of carrying, using, and disposing of the package is essential.
Sharan Raj, a lead packaging analyst at Technavio, says, “Manufacturers are focusing on good packaging and labeling to create brand awareness and attract consumers; thereby, bringing growth to the packaging tape printing market with respect to labels and printed packages.”
Growth of colored labeling
The use of color printing in labeling has been proved to gain the attention of customers. In addition, customers’ rate of response to the marketing activities of companies has increased because of the use of color printing. It enables organizations to communicate effectively with their customers about their brands.
“The increase in the number of messages directed towards the customers has risen the demand for efficient and legible printed packaging. The consumers tend to get confused with the large number of similar offerings from different brands, ae well as with the repetitiveness of the products among the brands,” adds Sharan.
Increased demand for premium packaging
The increased demand for premium packaging for products like cosmetics and household items is mainly from developed and mature markets such as the US, Japan, and Western Europe. Premium packaging is the basic indication of the high-quality product. Thus, vendors use expensive technologies, colors, and packaging techniques to develop premium packages.
They do so by using metallic-looking parts and 100% recyclable materials without losing any of the original quality properties. For instance, under the Industrial Chemicals (Notification and Assessment) Act 1989, every cosmetic product manufacturer must mention all of the chemicals used in a cosmetic product. However, to make the packaging of these products premium, manufacturers include detailed labeling of all the compositions with respective ratios. An informative and innovative label enhances the brand appeal and enables companies to gain a competitive edge over their competitors.
Improved marketing activities
The fast-moving consumer goods industry accounts for the largest share of the global packaging tape printing market. Organizations are satisfying their major labeling requirements through the printing industry. With the increased competition and the need to attain customer satisfaction, organizations in the end-user segments have increased their spending on marketing activities, which has led to several vendors offering innovative labeling.
New vendors have also entered the market to meet the labeling needs of many industries and are offering multiple innovative imaging solutions. Therefore, the demand for promotional purposes, including colorful and appealing labels and packaging for vendors to improve their marketing activities, is increasing in the market.
- AB Graphic International
- RR Donnelley & Sons
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