Monday, June 17, 2024

Digital label, packaging thrives in Asia-Pacific amid economic downturn

According to research firm IDC, a total of 52 units of digital label and packaging printer was shipped in the first quarter of 2023 for Asia-Pacific excluding Japan (APeJ), with a sequential growth of 15.6% and an annual growth of 23.8%.

The digital label and packaging market had witnessed steady growth in recent years especially post-pandemic, defying economic downturn during the first quarter of 2023.

Leading vendors in the industry such as Epson, Screen, and Konica Minolta, had consistently showcased their expertise and innovation in the label and packaging market in APeJ.

The primary application — label printing — experienced a significant growth, with a quarterly increase of 44.4% to 39 units.

However, the other applications like corrugated, flexible packaging and folding carton show a decline or remain stagnant.

This indicates the increasing adoption of digital label and packaging printing solutions among the businesses in the region.

“Fueled by the surge in personalized printing and customization, the digital label and packaging market is witnessing robust growth,” said Sharon Cheng, senior market analyst at IDC Asia-Pacific.

“In an era where consumers demand tailored experiences, brands are turning to digital solutions to meet these expectations,” said Cheng.

“Digital label and packaging printers are being utilized as automated packaging processes, catering to various smart manufacturing systems such as small-quantity batch production, flexible manufacturing, and on-demand production,” said Eunae Jo, senior market analyst for imaging printing and document solution at IDC Asia-Pacific.

“Digital label and packaging printing will be one of integral parts of the future smart production process, enhancing the efficiency, profitability, and environmental sustainability, while also driving consumer customized demands.”

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