Being informed regarding product origin, supply chain, disposal etc. is a crucial aspect for product manufacturers. Industrial labels have emerged as a highly efficient means to deliver such product-related information. Besides, industrial labels also enhance the visible and aesthetic features of products. Through the use of industrial labels, producers can gain an edge over competitors who offer similar products. The advantages offered by industrial labels is resulting in wider adoption by manufacturers worldwide. A major factor attributed to growth of the industrial labels market is that these products can easily be customized in terms of size and shape for a range of end-use applications across industries, with supplementary features as per specific requirement.
Product manufacturers’ concern regarding the practice of counterfeiting of their products can also be resolved to a great extent by using industrial labels enabled with bar codes and RFID technologies. Counterfeiting has become a worldwide phenomenon, which has been impacting industrial manufacturers severely, by affecting their sales revenue and also respective brand image. This has prompted manufacturers to use effective anti-counterfeiting technologies based on unique codes on labels. Various industrial labels are available in the market that are enabled with both track & trace and anti-counterfeit technologies. Track & trace technology helps manufacturers to maintain proper tracking of products, while anti-counterfeit technology helps to protect products from being counterfeited.
Industrial labels help manufacturers to keep a proper track of products along the entire supply chain. Industrial labels are increasingly finding application in various industries that lets customers know about product specifications, identification of brand, and also give the products an aesthetic look. Demand for durable industrial labels is further pushing market players to produce such labels on a larger scale.
Various advancements in labeling technology and socio-economic changes among consumers have encouraged label manufacturers to design, produce, and introduce specific and customized labels that meet specific requirements of product manufacturers. Development of new techniques such as digitalized printing, RFID labeling etc. is helping this industry grow at a faster rate. Due to these factors, the industrial labels market is expected to account for significantly high revenue over forecast period 2016–2024.
High capital expenditure is required for setting up a labeling system. This aspect often makes manufacturers a little hesitant to invest in this technology.
The industrial labels market is segmented on the basis of mechanism, end-use industry, identification technology, and regions.
By mechanism, the market is categorized into pressure sensitive, in-mold, glue-applied, heat-shrink, and others. By end-use industry, the industrial labels market is categorized into food, beverage, automotive, pharmaceuticals, construction, chemicals, transportation & logistics, consumer durables, and others. By identification technology, the industrial labels market is categorized into radio frequency identification (RFID), bar codes, and others.
On the basis of regions, the global industrial labels market is segmented into seven key regions namely North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan, Middle East & Africa, and Japan. Due to higher consumer awareness, North America is expected to hold the largest market share, followed by Europe by the end of 2016. However, Asia Pacific region is expected to show maximum growth in the global industrial labels market due to rising awareness and huge consumer base.
Some key players operating in the global industrial labels market are Avery Dennison Corporation, Brady Corporation, 3M, CCL Industries, Inc., Fuji Seal International Inc., Cenveo Inc., and others.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.