Global Label Printing Market To Reach $49.9B In 2024 The global market for label printing has been grow- ing steadily from 2014 to 2019, at rates of 4.8 percent in value, according to a new report from Smithers Pira. The report, entitled The Future of Label Print- ing to 2024 , values the market to be worth $41.02 billion.This is a 4 percent increase on the 2018 value of $39.46 billion.The market will continue to increase up to 2024, at an annual average rate of 4.0 percent in value to $49.90 billion. According to the report, key trends for different la- bels include: Pressure-sensitive labels will further increase their market share as government regulations on tracking and barcoding requirements for medical and pharma- ceutical products are implemented. Wet-glue labels, despite losing market share,will see high growth in certain product niches in segments, such as the beer industry in Asia. Multi-part tracking labels market position is be- ing eroded by newer electronic tracking solutions increasingly favored by the logistics industry, such as RFID technology. In-mold labels have a small share of the label print- ing market, but demand is holding steady owing to a growing perception of their eco-friendliness. Shrink labels make up the largest share of the global sleeve market at 90 percent of global volume and are expanding into new areas, including the labelling of beverage cans. The most commonly used print process for labels in 2019 is flexography with a value of $13.3 billion. Flexography has an annual growth of 3.1 percent in value and 4.4 percent. TLMI Opens 2019 Supplier Of The Year Nominations TLMI is actively accepting nominations for its 2019 Supplier To The Year Award, which honors an individ- ual TLMI Supplier Member for their volunteer services and dedication to both TLMI and the tag and label in- dustry.This award is presented to a qualified candidate on an annual basis. Criteria for winning the award includes service to TLMI on the association’s board and committees, in addition to continuous commitment to the industry as a whole by helping to promote and foster its growth. The nominated supplier must be a member to TLMI for a minimum of five years. The nomination deadline for the Supplier of theYear award is August 1st.
4 May 27, 2019 Flexo Market News
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