According to a new market research report published by Credence Research “Global Label Applicator Market (Product Type (Integrated Automated, Semi-Automatic, Standalone Label) End-User (Chemicals, Personal Care & Cosmetics, Food & Beverages, Pharmaceuticals, Electrical & Electronics, Others); Process Type (Wipe – on, Air blow, Tamp blow)) – Growth, Future Prospects and Competitive Analysis,2019 – 2027”,the overall Label Applicator market worldwide was valued at US$ 2.50 Bn in 2018 and is set to grow with a CAGR of 5.8 % during the forecast period.
The global label applicator market is highly driven by the ability of the machines to place the label sticker on the exact location with precision and speed. Additionally, the increasing regulation of government in various countries to place the barcode labels, test labels, price and the labels on the market is some of the major factors which are driving the growth of the market. Moreover, various companies and manufacturing units such as agriculture, cosmetics, food and beverages, chemicals and others are adopting label applicators to reduce their manual work and increase their product quality. However, the initial cost for the label applicators is high that tends to hamper the growth of the market.
Based on product type, the label applicator market has been segmented as an integrated automated, semi-automatic, and standalone label. Currently, the semi-automatic segment holds the largest market share of more than 45% due to the early adoption of technology. Moreover, the cost for semi-automatic is less as compared to integrated automated. However, the automatic technology segment is accounted to grow at a higher rate during the forecast period due to the rapid adoption of automation by these industries is boosting the market growth.
Based on geography, the label applicator market was led by North America, where US held the largest market share of over 90% as large number of companies are investing greatly in developing new machines. However, Asia-Pacific is expected to be the fastest-growing market due to the presence of various large chemical, manufacturing, agriculture, construction, cement, food, and other industries in the region which are using a label applicator. Additionally, the government initiative for strict regulation in the region for labels on the product is also boosting the growth of the market in the region.
Some of the prominent players operating in the label applicator market include Herma GmbH, ProMach Inc., Quadrel Labeling Systems, In-Line Labeling Equipment, Inc., Universal Labeling Systems, JDA Progress Industries Ltd., Label-Aire, Inc., CTM Labeling Systems, ALTech UK labeling Technologies Ltd., Novexx Solutions GmbH, Weber Packaging Solutions, Inc., RJ Packaging Corporation, and Videojet Technologies, Inc.
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