Variable Data Printing Market in Label Worth 22.27 Billion USD by 2021
PUNE, India, June 20, 2016 /PRNewswire/ --
The report "Variable Data Printing Market in Labels by Label Type (Release Liner, Linerless), Composition (Facestock, Topcoat), Printing Technology (Thermal Transfer, Direct Thermal, Electrophotography, Inkjet), End-use Sector, Region - Forecast to 2021" published by MarketsandMarkets, The market in labels is projected to grow from USD 10.79 Billion in 2016 to USD 22.27 Billion by 2021, at a CAGR of 15.61% from 2016 to 2021.
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Browse 223 market data Tables with 42 Figures spread through 222 Pages and in-depth TOC on "Variable Data Printing Market"
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This market possesses high growth potential due to its ability to provide customized product information, serialized number printing, and better quality printing that require lower cost and lesser time. Growth in the end-use sector and packaging printing industry, demand for inventory tracking and tracing solutions, product differentiation, and technological advancements in the printing industry are some of the drivers for the growth of the Variable Data Printing Market in labels. The advent of global brands, rising consumerism, and growth of the packaging industry have witnessed significant increase in the scope for the variable printing market in labels.
"Variable data printing on facestock is projected to increase at the highest rate during the forecast period."
Facestock can withstand adverse conditions such as high temperature, moisture, and abrasion. The growth of this segment can be attributed to its ability to offer excellent clarity, gloss, durability, and dimensional stability. Being the basic composite of a label comprising features such as appropriate roughness, stiffness, and absorption degree complementing excellent printability, this segment is projected to grow at the highest CAGR and acquire the largest market share during the forecast period.
"The adoption of inkjet printing technology for the printing of variable data on labels is to grow significantly from 2016 to 2021."
The growth of inkjet printing technology in the Variable Data Printing Market in labels is attributed to the introduction of high-speed, commercial color printing inkjet technology. Other factors for the increasing adoption of inkjet printers are low cost of the machine, ability to produce good quality printing at low maintenance costs, small size, and fast printing.
"Asia-Pacific is projected to grow at the highest rate in the global Variable Data Printing Market in labels market"
The Asia-Pacific region is projected to grow at a highest rate from 2016 to 2021 due to factors such as emerging economies China and India, increasing health & safety concerns, and increasing demand for consumer goods and lifestyle products from the urban population in this region. China, being a leading manufacturer and supplier of printing materials and equipment, exhibits high growth opportunities in the Variable Data Printing Market in labels.
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The key players in the Variable Data Printing Market in labels are HP Inc. (U.S.), Canon Inc. (Japan), 3M Company (U.S.), Xerox Corporation (U.S.), R.R. Donnelley & Sons Company (U.S.), Mondi Plc (South Africa), Avery Dennison Corporation (U.S.), Quad/Graphics Inc. (U.S.), Cenveo, Inc. (U.S.), and WS Packaging Group, Inc. (U.S.).
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