A market on the move
This collaborative approach supports operations as they navigate the transformation being undertaken by the global label printing market. Trends such as shorter runs, variable data printing, and the demand for sustainable, on-demand packaging, are shaping business demands, customer expectations and operational needs. They were among the topics discussed in detail at the recent Labelexpo.
Developing the right response is vital. It is also set to be rewarding with analysts at Smithers Pira[1] predicting that the booming market will surge nearly 60% over the next decade, reaching $20 billion by 2032.
The industry's growth is being encouraged by:
- Consumer Goods Boom: The continuous growth in consumer goods production and consumption across Europe has led to an increased demand for packaging and labeling solutions.
- Regulatory Compliance: Stringent regulations, particularly in the food and pharmaceutical sectors, have necessitated more detailed and informative labeling, driving demand for advanced labeling solutions.
- Technological Advancements: Innovations in printing technologies and materials have opened new avenues for customization and efficiency in label production.
- Sustainability Initiatives: Growing environmental consciousness among consumers and businesses has spurred demand for eco-friendly labeling solutions.
Konica Minolta is determined to play a prominent role this growth.