ALBANY, N.Y., Oct. 4, 2021 /PRNewswire/ — Digital Label Printers Market: Broad Contours
Providers of digital label printer solutions constantly lean on boosting the advantages of their offering over flexographic printing solutions. The demand for on-demand label printers in various industries notably the pharmaceutical industry has allowed them to grow their footprints, thus expanding their revenue potential in the digital label printers market.
Solutions in the digital label printers market have allowed packaging companies the flexibility in printing variable data on pre-printed labels and the functionality of high-speed printing on a range of substrates. Advancements in vision inspection system, such as the increasing trend of intergrading line scan cameras with high-speed ink jet head are likely to offer incremental opportunities for players in the digital label printers market.
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Various benefits such as high resolution, permanence of the ink, and compact designs of the printers are attracting businesses in food & beverages industry, pharmaceutical, and medical device manufacturing industries to meet a wide spectrum of packaging and labelling needs. The possibilities are vast for players in the digital label printers market. A study by TMR has projected the global market valuation to move past US$ 8.71 Bn by 2031.
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Key Findings of Digital Label Printers Market Study
- Integrated Full-label Inspection Systems to Witness Vast Uptake in Pharmaceutical Packaging Industry: The demand for anti-counterfeit labels has grown steadily across the pharmaceutical and life sciences industries over the years. The trend has offered substantial opportunities for players to offer digital label printing solutions that meet the traceability requirements of product and packaging labels. This has fueled the demand for advanced printer-integrated label inspection systems. In particular, the growing adoption of integrated full-label inspection systems is generating substantial revenue streams, notes the study on the digital label printers market.
The pharmaceutical packaging industry is viewed as highly lucrative, and the valuation of the segment is projected to grow by 1.9 times from its current market value by 2029, notes a TMR study on the digital label printers market. The growth is fueled by rise in on-demand digital label printing solutions.
- Printer Manufacturers Focus on Cost-effective Labels for F&B and Home care Products: Solution providers and manufacturers in the digital label printers market are increasingly tapping into revenues by meeting the requirements of low-footprint printers in the food & beverages industry. End users are benefitting from real-time label quality monitoring through printer-integrated label inspection, which allows them to monitor the print quality as well as comply with international standards, notably GS1 Global Traceability Standard.
Moreover, market players are likely to witness incremental avenues by meeting the demand for low-footprint printers among home care products manufacturers, notes the TMR study on the digital label printers market. Both these applications will rise on back of sales of compact printers. A case in point is growing adoption of these in e-liquid labelling application.
Digital Label Printers Market: Key Drivers
- Various fast-moving consumer goods (FMCG) manufacturers globally seek new branding avenues through packaging labels. Continuous strides made by the FMCG industry around the world over the past few decades have thus extended the canvas for various digital label printing solutions providers. This is a key driver for the digital label printers market. In order to cater to the current and emerging customer needs, they are offering food packaging label printers with increased throughput, better process efficiency, and ensure quality assurance of the final products.
- Advancements made in ink curing technologies and growing demand for high-speed printer and inspection systems in various industries have propelled the market prospects of digital label printers
Digital Label Printers Market: Regional Growth Dynamics
- Asia Pacific has emerged as a market with hotbed of opportunities over the years. The regional digital label printers market is anticipated to hold nearly 35.5% share of the global market during the forecast period (2021-2029).
- Rise in domestic drug production in Asia Pacific has spurred the demand for digital label printers in the pharmaceutical industry, which will bolster the revenue generation in the near future. Another vast avenue comes from the growing uptake of digital label printing solutions in the consumer-packaged goods (CPG) industry.
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Digital Label Printers Market: Key Players
Some of the prominent companies in the digital label printers market are Konica Minolta Inc., Mimaki Engineering Co. Ltd., HP Inc., Seiko Epson Corporation, Colordyne Technologies LLC, VIPColor Technologies Pte Ltd., Arrow Digital Private Limited, Domino Printing Sciences plc., AstroNova, Inc., and Canon Inc.
Global Digital Label Printers Market Segmentation
Digital Label Printers Market by Technology Type
- Inkjet Printers
- Laser Printers
- Others (Electrophotographic, etc.)
Digital Label Printers Market by Ink Type
- Solvent Based
- Water Based
- UV Based
- Others (Latex Based, etc.)
Digital Label Printers Market by Speed
- Less than 30 meters/min
- 30 – 50 meters/min
- More than 50 meters/min
Digital Label Printers Market by End Use
- Food & Beverages
- Personal Care & Cosmetics
- Home Care
- Consumer Durables & Electronics Goods (CDEG) Industry
- Other Industries (Chemicals, Automotive, etc.)
Digital Label Printers Market by Region
- North America
- Latin America
- Asia Pacific
- Middle East & Africa
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