Hybrid Printing to Boost the Global Packaging Tape Printing Market | Technavio
4 December 2017
The global packaging tape printing market is expected to grow at a CAGR of more than 6% during the period 2017-2021, according to a new market research study by Technavio.
The report categorizes the global packaging tape printing market by technology (flexography, rotogravure, and digital). The report also determines the geographic breakdown of the market in terms of detailed analysis and impact, which includes key geographies such as APAC, the Americas, and EMEA.
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Market driver: growing demand for premium packaging and aesthetic appeal
One of the major factors impacting the packaging tape printing market is aesthetic appeal. The way a product is packaged has a huge impact on customer perception regarding the product, in terms of quality and essential ingredients. The aesthetic appeal of a product influences the purchase of the product. The addition of a company's logo or other designs to the packaging tapes helps in better branding of the products.
According to Shakti Jakhar, a lead analyst at Technavio for packaging research, “The growth of the premium packaging segment has generated a significant demand for printed tapes in the cosmetics and household segment. As premium product packaging indicates high quality, vendors integrate better tape printing colors and fonts to indicate the superior quality of the product. The packaging tapes used on these products highlight the brand as well as originality of the product.”
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Market trend: hybrid printing techniques
Vendors have started offering hybrid printers that integrate features of both offset and digital printing. They provide high print quality of offset printing and personalization features of the digital press. The hybrid printers have various advantages such as advanced user interface with touchscreen, more color options, inbuilt UV drying systems, greater flexibility, and increased operational efficiency.
Market challenge: environmental concerns
One of the main environmental concerns regarding the printing industry is the toxicity of ink used in the printing process. Most of the printing inks use petroleum-based ingredients that contain high levels of volatile organic compounds (VOC). The presence of such chemicals in the inks can be harmful to the environment. The inks also contain heavy metals, such as cadmium, hexavalent chromium, lead, and mercury, which can pollute the soil and water, when they become a part of landfills.
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Key vendors in the market
A B Graphic International
R.R. Donnelley & Sons Company
The global packaging tape printing market consists of many established players that constantly compete through the innovations and technologies incorporated in their products. There are also many regional vendors, such as FRONTIER LABEL and Anglia Labels, which offer products and services on a small scale. The players enter mergers and acquisitions to expand their product portfolio and bear the initial investments on equipment and plants. Many prominent technology providers of digital printing are choosing the inorganic growth strategy as an effective tool for gathering advanced technology trending in the market.
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