Market focus: Asia-Pacific | 107APAC set for significant growthThe Asia-Pacifc print labels market is set to grow nearly twice as fast as other markets in the world, with digital printing quoted as the most prevalent trend in the region. Piotr Wnuk reportsccording to the report published by Knowledge Sourcing “We are seeing post-pandemic Intelligence, the Asia Pacifc print labels market was valued at 15.778 billion USD in 2020 and is expected to grow at a Athat the print label market in APAC CAGR of 7.34 percent to reach a market size of 25.092 billion USD by 2027. is set for exponential growth”Compared with the CAGR of 3.02 percent and 3.47 percent growth prognosis for North America and EMEA, the APAC region is The Knowledge Sourcing Intelligence report confrms that expected to grow twice as fast, with food and beverage projected digital printing is anticipated to grow signifcantly in the region to hold a notable market share and outpace any other printing technology. Technology advancements are helping to create creative and According to HP, as print continues to grow and evolve, so are high-quality labels in the cosmetics, food and medical care sectors. customer expectations and demands changing. Successful PSPs The print label market is expanding due to the requirement are now increasing their focus on growth drivers and progressing in for effcient and better-performing technologies to produce their digital acceleration. high-quality products. ‘The global economic outlook during the pandemic saw a High economic growth in emerging economies, rising disposable decrease in gross domestic product and supply chain challenges,’ income, and growing health awareness are some of the key factors says Arnon Goldman, general manager for HP in Asia Pacifc. ‘As augmenting the demand for packaged food and beverage products, a result, the print industry was impacted by lower demand and which boosts the demand for print labels in the region. volume slowdown. We immediately set out focused plans to Despite being heavily affected by the pandemic, the shutdown of support our customers and partners aimed at business continuity various factories disturbing regional supply chains and negatively and the needs of customers. Since then, we have seen many of our impacting manufacturing, delivery schedules and raw material print service providers (PSPs) demonstrate business agility and a sales, the APAC is still anticipated to grow at a high rate. quick reaction to ever-changing market demands by shifting more volume to digital print and leveraging the versatility of our presses Innovation drives sustainability to offer new types of products and services.’Avery Dennison accelerated the labeling and packaging ecosystem ‘The digital sector is proving popular for smaller runs and niche in Asia Pacifc, establishing the AD Stretch accelerator program to applications, offering cost benefts and fexibility over fexo. drive innovation in partnership with industry start-ups across the However, we don’t expect digital printing to make big inroads into region and solve critical challenges around sustainability, customer the core fexo print sector at this time as fexo is still proven to experience and value chains. have its cost advantage for mid- to long-run jobs,’ says Benjamart ‘From our frst day in business nearly 90 years ago, Avery Fagg (Jane Tan), managing director of Press Systems Group (PSG), a Dennison has a long and proud heritage as an innovator,’ says Anil Thailand-based supplier of UV LED systems.Sharma, vice president and general manager, labels and graphic ‘In the label industry, inkjet not only complements conventional materials for Asia-Pacifc at Avery Dennison. ‘AD Stretch will help printing, but it has also grown to a point where it is more us stay on the cutting edge of innovation by reaching out to the competitive in many aspects. We see print buyers demand such brightest talent and startups, working together to realize shared quality and fast turnaround time that our customers can do it goals and value and solve the key challenges of the next decade.’ on the digital,’ confrms EP Digital regional manager Sean Yap. The company has also announced the launch of Sustainable ‘Business owners are also happier to manage fewer production Advantage, a rebrand of its sustainability portfolio, in regional lines, yet still able to increase productivity. Our customers achieve markets. The portfolio has been combined and expanded to include between 70 and 90 jobs daily with just one machine. This also their latest sustainable labeling solutions. greatly assists them with the lack of labor that countries in the ‘Sustainable Advantage solutions give converters and brands in region face now.’the Asia Pacifc a huge range of go-to options for increasing the Domino, which has been in the APAC market for over three recyclability of packaging, using materials with recycled content, decades, opened a Digital Centre of Excellence in Bangkok, and reducing their materials consumption,’ notes Pankaj Bhardwaj, Thailand, with its long-standing partner Harn Engineering vice president of marketing at Avery Dennison Asia Pacifc. Solutions.Epson is also focused on embracing growth opportunities Roy Schoettle, vice president of the Asia-Pacifc region at XSYS, through its wide range of offerings such as SurePress, ColorWorks, sees these technologies are still complementary to fexography.and LabelWorks series, each serving different verticals including ‘Digital does play a role, however, particularly in the tag and healthcare, logistics, food and beverage, from large-scale industry label market where we are seeing many printing companies prints to on-demand home and offce use. investing in multiple technologies, but in other markets, such as ‘We are seeing post-pandemic that the print label market in fexible packaging where high-speed printing and long job runs are APAC is set for exponential growth, and we are primed to support required, it is still not economically viable,’ he says.this through our SurePress series of industrial label presses,’ APAC is undoubtedly a rising market with great potential. comments Morikawa Tomohito, regional director for commercial Although the pandemic has negatively infuenced its economy, the and industrial products at Epson Southeast Asia. ‘Incorporating region is showing strong economic growth again.eco-friendly features such as a digital print process and water-based ink, which does not emit harmful volatile organic compounds, Read the ‘Opportunities in Asia Pacifc’ article in Issue 4, our SurePress series ensures a safer and more sustainable working 2022 of Labels & Labeling to learn more about the challenges environment for our partners and customers in the region.’and outlook of the labeling market in the regionJan - Mar 2023