The increasing popularity of private labels in the retail sector is fueling growth in the global label and package printing market. This growth, in turn, leads to a demand for attractive package printing that attracts customers, according to Tridib Bora, a procurement research analyst for SpendEdge.
The global market intelligence advisory firm has published a report that breaks down the data and analysis behind the procurement of label and package services, and acts as an all-inclusive guide for making smart purchasing decisions. According to the report, product proliferation in segments such as beverages, snacks, hair care and soaps — particularly private labels — will fuel growth in the global label and package printing market.
The report stresses the role suppliers play, in particular those who are able to assist in choosing the substrate for printing and can help buyers determine the most effective printing technique — such as flexographic, offset or digital based — for their budgets and requirements. A major procurement pain point for buyers, the report added, is estimating print costs. SpendEdge, therefore, recommends that buyers work with suppliers that use proprietary or third-party MIS software to streamline and estimate production costs and workflow. Doing so can help counter this specific procurement pain point.
For more information about the report, click here.