Future Market Insights
Global Specialty Labels Packaging market: Introduction
The global consumer goods packaging market has transformed in the past few decades, creating an absolute need for packaging manufacturers and brand owners to customize their products to be able to better suit the evolving consumer trends. Specialty labels are an innovative approach to display business or product related information to consumers. The global specialty labels market is expected to witness growth over the forecast period, due to increased adoption of new consumer engagement strategies by brand owners across the globe. Specialty labels are used in a wide range of applications such as industrial use, display of information regarding upcoming promotional events, and security purposes, among others. Specialty labels are also used for asset tracking. Attributed to their efficiency, many manufacturers are looking to integrate modern technology into their specialty labels. Specialty labels can also be integrated with barcode technology for real time tracking of a product. Asset specialty label are also used to identify, maintain and repair fixed assets, such as, a road sign, building, tunnels, or any system attached to a building. Specialty labels are customizable and printable, supporting a wide range of modern printing technologies, such as, digital printing, thermal printing, and flexographic printing, among others. Thus, it is anticipated that the global specialty labels packaging market will continue to grow, over the forecast period, bolstered by increasing preference for specialty labels as an efficient and easy means of tracking a product and as a brand image enhancing tool.
Global Specialty Labels Packaging market: Dynamics
Due to the dynamic nature of the modern market, manufacturers have to innovate and come up with new consumer engagement strategies aimed at enhancing consumer experience. Specialty labels brand owners and packaging manufacturers to inform the customers about upcoming events and product related information, which facilitates in enhancement of consumer experience, and also goes a long way in ensuring a loyal consumer-base for that particular brand. The need to retain consumer-base is expected to be one of the key contributors to growth of the global specialty labels market. In addition, specialty labels are customizable, and therefore can be used for a wide range of applications, which increases the scope of growth of the global specialty labels market. The global specialty labels market growth is expected to be fuelled by increasing need for real-time asset tracking. An increase in E-retail platforms and globalization ensures convenience in purchasing goods from difference places, creating a need to track the movement of the product through the distribution channel. Asset specialty labels therefore, are expected to be preferred by most retail stores and manufacturers. The global specialty labels market is also driven by innovation, with specialty labels being manufactured with features such as, specialty labels for safety and warning, weather resistant specialty labels, and specialty labels for traceability, among others. Despite the largely positive outlook, the global specialty labels market growth might be hampered by certain factors, such as the use of plastic in manufacturing specialty labels.
Global Specialty Labels Packaging market: Segmentation
The global specialty labels market has been segmented as follows –
On the basis of material, the global specialty labels market is segmented as –
On the basis of product type, the global specialty labels packaging market is segmented as –
On the basis of purpose, the global specialty labels packaging market is segmented as –
On the basis of end use industry, the global specialty labels packaging market is segmented as –
Global Specialty Labels Packaging market: Regional Outlook
The global specialty labels market is segmented on the basis of region as: -
The Asia Pacific region is expected to lead the global specialty labels market, over the forecast period, owing to the sheer size of its retail industry. However, in terms of specialty labels integrated with barcodes for asset tracking, the North America region is expected to lead, during the forecast period. The Latin America retail industry is expected to witness slow growth due to the ongoing slow recovery from the effects of the 2015 recession. Japan is expected to have maximum penetration of specialty labels packaging in its local market.
Global Specialty Labels Packaging market: Key Players
Some of the key players operating in the global specialty labels market are – Custom Labels, Resource Label Group, LLC, Label Technology, Inc., and Consolidated Label Co., among others.
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