Predominantly pushed by brisk expansion in the packaged food sector, labeling equipment sales will thrive at a healthy CAGR over the course of next decade, according to a report from Future Market Insights. The approximately $3 billion market for labeling equipment will continue to receive a strong impetus from regulatory bodies’ guidelines on the Consumer Protection Act (United Nations, 1985) that has drafted global standards to be followed by companies across the globe. International manufacturers in the labeling equipment market are looking to collaborate with regional manufacturers, especially in developing and emerging economies of the world, as regulatory bodies in these regions have made it mandatory to label all packaging items to combat counterfeiting at the global level.
Automatic labeling equipment is garnering significant traction over semi-automatic and manual systems. Growing investments in sophisticated management information systems (MIS) and rapid automation in warehouse management and shipping have compelled manufacturers to leverage new technologies.
Additional report highlights include:
- The healthcare and pharmaceutical industry is expected to create significant demand for labeling equipment in the global market.
- RFID labeling solutions will hold approximately one-fourth of the market share from 2019-2029.
- The labeling equipment market is expected to remain prominent in the Asia-Pacific region, as companies are intensifying business operations and focusing on increasing market share.
- The adhesive-based labeling segment is anticipated to hold three-fourths of the market share during the forecast period.
Leading manufacturers of labeling equipment continue to focus on diversified product portfolios with a wide range of automatic, semi-automatic, and manual machines that cater to all industries and segments. Customization will remain the key to gaining a distinct competitive edge in the labeling equipment market. As demand varies from industry to industry, the one-size-fits-all approach will no longer suffice for maintaining a strong position in the market. Manufacturers are thus focusing on delivering customized products for specific sectors while merging with industry operators to keep pace with the competitive marketplace.
Additional details are available at www.futuremarketinsights.com.