VALLEY COTTAGE, N.Y. – With labeling and packaging being the most integral part of the sale of any product, many stringent rules and regulations are imposed on manufacturers to ensure appropriate transfer of information through labels. Regulatory bodies continue to amend labeling requirements based on applications in various industrial areas, and this is expected to make labeling equipment an indispensable part of the packaging processes followed in the manufacturing of most products, today.
The global market for labeling equipment values at more than US$ 3 billion in 2019, and it is likely to witness 2x growth through 2029, opines a recent study published by Future Market Insights (FMI). Taking into consideration the importance of complying with labeling and packaging regulations prevalent across the world, the adoption of labeling equipment is expected to increase significantly in the coming years, projects the FMI study.
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The FMI study also finds that the market for labeling equipment in the European Union accounted for nearly one-third revenue share of the global market, in 2018. Strict regulatory framework and consumer awareness about packaging and labeling requirements for various products are among the top factors instrumental in the growth of the labeling equipment market in Europe, opines the study. Leading players are constantly updating their manufacturing strategies to ensure complete adherence to these regulations by introducing state-of-the-art labeling equipment for end users from a wide range of industries.
Convergence with Technology Emerging as a Strong Market Trend
As the global market for labeling equipment is growing in terms of intensified competition, leading stakeholders are adopting innovative and tech-driven business strategies to diversify their products. Adoption of next-generation technology (RFID), robotics, and Artificial Intelligence, in manufacturing of labeling equipment is expected to emerge as a popular trend in the market in the coming years, opines the FMI study.
Preview Of 2019 Analysis and Review of Labeling Equipment Market by Product – Top Labeling Equipment, Bottom Labeling machine, Top & Bottom Labelling Equipment, Wrap Labeling Equipment, Front & Back Labeling Equipment, and Full Body Sleeve Labeling Equipment for 2019 – 2029:https://www.futuremarketinsights.com/reports/labeling-equipment-market
The study also finds that the sales of top & bottom labeling equipment are likely to supersede those of other types of equipment such as full body sleeve labeling, wrap labeling, and front & back labeling equipment. Nevertheless, owing to its lower average cost, the sales of wrap labeling equipment are expected to increase significantly, surpassing nearly 125 million unit sales worldwide, by the end of 2019. Leading players are constantly leveraging recent advancements in technologies to diversify their product features and bolster product innovation in various types of labeling equipment in the coming years, opines the FMI study.
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Lucrative Opportunities in Food Industry Underpinned by the Rise of Packaged Foods Industry
Health-conscious and label-conscious consumers have pushed the ‘clean label’ movement, primarily in the food industry, with growing concerns about the impact of various food ingredients on health. Leading players in the labeling equipment market are noticing a significant rise in number of end users voicing the need for high-tech features of labeling equipment to suit the specific requirements in food & beverage applications. While the global sales of labeling equipment remain highest in the healthcare & pharmaceutical industrial applications, the constantly evolving clean label movement is expected to create new avenues of growth for market players in the food & beverage and packaged foods industries, projects the FMI study.
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Future Market Insights (FMI) is a leading market intelligence and consulting firm. We deliver syndicated research reports, custom research reports and consulting services which are personalized in nature. FMI delivers a complete packaged solution, which combines current market intelligence, statistical anecdotes, technology inputs, valuable growth insights and an aerial view of the competitive framework and future market trends.
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