Global procurement intelligence advisory firm, SpendEdge, has announced the release of their 'Industrial Labels Market Procurement Research Report.' The insights and data in this report provide a strategic analysis of the supply markets, factors influencing purchasing decisions, procurement best practices, pricing models, supplier landscape, and an analysis of the supplier capability matrix for the packaging and labeling industry. This report breaks down the data and analysis behind the procurement of industrial labels and acts as an all-inclusive guide for making smart purchasing decisions.
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Global Industrial Labels Procurement Market Intelligence Report (Graphic: Business Wire)
"The growth of the global industrial labels market is being driven by the increasing requirements for security labels and the rising regulatory requirements which are mandating more detailed product information," says SpendEdge procurement analyst Bhuvaneshwari Udayakumar. "Also, the buyers prefer digital printing technology owing to its low costs, high customization capabilities, and faster printing speeds as compared with conventional printing technologies such as flexographic," added Bhuvaneshwari.
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Procurement analysts at SpendEdge highlight the following top three market trends that are contributing to the growth of the Global Industrial Labels Market:
- The increasing demand for smart labels
- Rise in demand for digitally printed labels
- The growing adoption of shrink sleeve labels
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The increasing demand for smart labels:
Smart labels are electronically responsive devices that are primarily used for product identification and enhancement. They are increasingly being used as an alternative to conventional bar codes owing to it's higher data storage capability. The demand for smart labels is mostly restricted to North America, Europe, and Asia, as these regions have a strong presence in the e-commerce sector. The most commonly used smart labels include QR codes, RFID tags, and EAS tags. Moreover, the use of such labels helps buyers to manage their inventory, increase the safety of product shipping, and provides new avenues for brand communication.
The rise in demand for digitally printed labels:
Digital printing techniques involve the use of dots of ink which are used for recreating an image from a digital file. The demand for digital printing can be attributed to various factors including low setup costs, better quality of labels, reduction in TAT, and also offers labels with better resolution. Also, digitally printed labels are highly customizable, which gives businesses the flexibility to redesign their labels, in alignment with the changing customer requirements.
The growing adoption of shrink sleeve labels:
Shrink sleeve labels are digitally printed labels, they are printed on shrink films, which reduces in size upon application of heat. The shrinkage of the film allows the label to better conform to the shape of the product, which leads to a sleek and aesthetically pleasing product labeling. Moreover, shrink sleeve labels are resistant to moisture and abrasion and require very little adhesives, thus reducing development costs.
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