Flexography is a type of printing process that uses a flexible relief plate which is adhered with a sticky tape and is wrapped around a printing cylinder. Flexographic labels are highly adaptable label solution that can be applied on different type of packages and can be printed on different type of materials, including plastics, metal films and papers. These labels are used for a variety of consumer packaged goods, as they are cost effective and economical, it can be printed on non-porous materials, and are suited for printing large areas of a solid color. All these features associated with flexographic labels make it versatile and a good option for flexible packaging, tags, shrink sleeves, folding cartons and pouches.
Flexographic labels Market Dynamics:
The versatility of flexographic labels is the main factor that drives the growth in the flexographic labels market. Other advantages associated with flexographic labels are high press speeds, low equipment and maintenance cost, low cost of consumables, suited for medium to long runs, low run waste level, ease of integration with other printing process etc. All the above mentioned advantages further fuels the growth in the flexographic labels market. In addition, government regulations to use vibrant colors to highlight potential hazards on labels also elevates the growth in the flexographic labels market. However, factors such as substantially high setup cost for different design, high cost of printing plates, lengthy set up times, significant press time etc. can restrain the growth in the flexographic labels market. In addition, growing popularity of digital printing for labels and other alternate technologies can act as a hindrance for the growth of flexographic labels market.
The recent trend in the flexographic labels market is increasing use of UV LED that increases productivity while reducing energy costs and downtime. Other than that, the seven-color printing is also gaining traction as it reduces waste and make-ready times. But it is the evolution of full HD flexo which can be seen as the major trend in the flexographic labels market.
Flexographic labels Market Segmentation:
On the basis of use, the global flexographic labels market is segmented into:
- Wine, Spirits, Hard Cider, and Craft Beer
- Health & Beauty and Cosmetics
- Personal Care Products
- Vitamins, Supplements, and Nutraceuticals
- Food & Beverage
- Hardware and Building Products
- Bottles & Jars
- Coffee and Tea
On the basis of product type, the global flexographic labels market is segmented into:
- UV flexographic
- Water-based flexographic
- Rotary screen
- Rotary letterpress
- Foil labels
Flexographic labels Market- Regional Outlook:
Geographically, the flexographic labels market can be segmented into North America, Latin America, Europe, Asia-Pacific (APAC) and Middle East & Africa (MEA). The global Flexographic labels market is projected to grow at a healthy CAGR during the forecast period (2016 -2024). Europe is expected to be the dominant region for the flexographic labels market as it accounts for more than 60% of global labels market, whereas, Asia Pacific is expected to witness the maximum growth in the flexographic labels market primarily due to the growth in the packaging industry in the developing economies like India and China. The growth in the developing economies of Asia Pacific region is majorly due to rising disposable incomes, growing middle class, changing lifestyle which has increased the use of packaged food in these countries, growth in the retail industry with rising hypermarkets and supermarket chains etc. North America is expected to experience an average growth rate in the flexographic labels market over the forecast period.
Flexographic labels Market- Key Players:
Some of the leading players identified across the globe in the flexographic labels market are: Advanced Labels NW, Finotex USA Corp., Valley Forge Tape & Label Co. Inc., Consolidated Label Co, Resource Label Group LLC, Paragon Label, Flexo Impressions Inc., Crown Label Inc., Richmark Company, Inc. etc.