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The digital label printing solutions market size is forecast to increase by USD 2.32 billion with a grow at a CAGR of 6.39% between 2023 and 2028. The growth rate of the market depends on several factors such as the increasing adoption of digital label printing solutions, the benefits associated with digital label printing, and the availability of digital label printing solutions with advanced features.
The report includes a comprehensive outlook on the Roofing Tiles Market, offering forecasts for the industry segmented by Application, which comprises FMCG, retail, chemicals, and healthcare and others. Additionally, it categorizes Product into short-run digital label printing solutions and large-format digital label printing solutions, and covers Regions, including North America, APAC, Europe, South America, and Middle East and Africa. The report provides market size, historical data spanning from 2018 to 2022, and future projections, all presented in terms of value in USD billion for each of the mentioned segments.
Digital Label Printing Solutions Market Forecast 2024-2028
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Many end-user and application sectors from different industries have been investing in high-quality and efficient digital label printing solutions. For instance, in June 2021, Domino Digital Printing Solutions and its longtime partner, Harn Engineering Solutions, opened their Digital Centre of Excellence in Bangkok, Thailand. With its use for pre-sales, samples, live and virtual product demonstrations, and post-sales customer training and development activities, the Centre offers an exciting chance to boost sales and growth throughout the APAC area.
Likewise, in May 2021, HP announced a new wave of innovations for HP Indigo digital printing, supporting momentum, growth, and digital transformation at Dscoop Edge Fusion 2021. Increasing adoption of digital label printing solutions by application segments will drive the growth of the global digital label printing solutions market during the forecast period.
Several market players are making significant research and development (R&D) investments to develop new products to increase their market share. For instance, Xeikon launched two new digital label printing presses in February 2021. The Xeikon CX30 and Xeikon CX50 are based on Cheetah 2.0 technology with new-generation interfaces and cloud connection.
Similarly, HP announced the launch of a new wave of innovations for HP Indigo digital printing, supporting momentum, growth, and digital transformation at Dscoop Edge Fusion 2021. Thus, such initiatives to launch new products are expected to drive the growth of the global digital label printing solutions market during the forecast period.
Products such as flexographic label printing solutions are substitutes for digital label printing solutions. The flexographic label printing process uses flexible plates to transfer the ink onto a substrate. It is an economical alternative to medium-to-long print runs, simple designs, and color combinations. Flexographic label printing solutions can achieve quick line speeds. The production speed of flexographic label printers is higher, and the inks are cheaper than digital label printers.
Moreover, the demand for flexographic labels is also increasing as they can be applied to nearly all types of packages. Flexographic labels can be printed on a variety of materials, including metal films, plastics, and paper. Flexographic label printing can be used to produce prime product labels, industrial labels, tamper-evident labels, warning labels, medical labels, and barcodes. Therefore, the availability of substitutes is a challenge that may impede market growth during the forecast period.
The FMCG segment will account for a major share of the market's growth during the forecast period.? In the FMCG sector, digital label printing solutions are used to produce labels for packaged food products, wine bottles, apparel, toiletries, and kitchenware. They are also used to produce health information labels and distribution labels. Awareness among customers about understanding the contents used to manufacture products is increasing. Hence, the demand for content labels is rising.
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The FMCG segment was valued at USD 1.64 billion in 2018. Moreover, the demand for digital label printing solutions from the FMCG industry will increase. Several application segments acquire products from the major vendors. Such factors will drive the demand for digital label printing solutions from the FMCG segment, which in turn will drive the growth of the global digital label printing solutions market during the forecast period.
Based on product, the market has been segmented into short-run digital label printing solutions and large-format digital label printing solutions. The short-run digital label printing solutions segment will account for the largest share of this segment.?Short-run digital label printing solutions typically create personalized labels and stickers in small batches. They offer short runs, enable quick delivery, and cost less. Short-run digital label printing solutions are commonly used to produce small labels for products such as wine bottles, packaged food products, and water bottles. Therefore, the growth of the global food and beverage market will drive the growth of the short-run digital label printing solutions segment. Several market players offer short-run digital label printing solutions that are compliant with industrial standards and regulations. Thus, such factors under the Short-run digital label printing solutions segment will drive the growth of the market during the forecast period.
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North America is estimated to contribute 43% to the growth by 2028. Technavio’s analysts have elaborately explained the regional trends, drivers, and challenges that are expected to shape the digital label printing solutions market growth analysis during the forecast period. The US and Canada hold a significant share of the digital label printing solutions market in North America due to the rapid growth of the labeling industry in the region. Some major market players that offer digital label printing solutions in the North Americas include Afinia Label, HP Development, ID Technology, Primera Technology, and Durst.
Besides, many application industries in North America are installing the digital label printing solutions offered by the major market players Furthermore, the growth of the pharmaceutical industry in Canada is expected to increase the requirements for digital printing. The growth of the e-commerce market in the US is expected to increase the demand for digital label printing solutions in the country during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
We also have detailed analyses of the market’s competitive landscape and offer information on 20 market companies, including:
Afinia Label, Durst Group AG, Electronics For Imaging Inc., Heidelberger Druckmaschinen AG, HP Inc., Intec Printing Solutions Ltd., iSys Label, Konica Minolta Inc., Mark Andy Inc., MPS Systems BV, NeuraLabel Printing Solutions, Primera Technology Inc., Pro Mach Inc., Roland DG Corp., SCREEN GP Americas LLC, Seiko Epson Corp., Star Label Products, Xeikon, and Xerox Holdings Corp.
Technavio digital label printing solutions market research report provides an in-depth analysis of the market and its players through combined qualitative and quantitative data. The analysis classifies companies into categories based on their business approaches, including pure-play, category-focused, industry-focused, and diversified. Companies are specially categorized into dominant, leading, strong, tentative, and weak, based on their quantitative data analysis.
The digital label printing solutions market analysis and report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
Digital Label Printing Solutions Market Scope |
|
Report Coverage |
Details |
Page number |
167 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.39% |
Market Growth 2024-2028 |
USD 2.32 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
5.51 |
Regional analysis |
North America, APAC, Europe, South America, and Middle East and Africa |
Performing market contribution |
North America at 43% |
Key countries |
US, Canada, China, Japan, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Afinia Label, Brother Industries Ltd., Durst Group AG, Electronics For Imaging Inc., Heidelberger Druckmaschinen AG, HP Inc., Intec Printing Solutions Ltd., iSys Label, Konica Minolta Inc., Mark Andy Inc., MPS Systems BV, NeuraLabel Printing Solutions, Primera Technology Inc., Pro Mach Inc., Roland DG Corp., SCREEN GP Americas LLC, Seiko Epson Corp., Star Label Products, Xeikon, and Xerox Holdings Corp. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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