The growth can be attributed to high demand from manufacturing, retail, packaging, transportation and logistics industries. The report cites that Asia Pacific (including India) could lead the global label printing machines market, followed by North America, during the forecast period of 2019 to 2027.

The report also mentioned one of the challenges faced by manufacturers these days – identity protection for products. "Manufacturers are constantly struggling to give their products unique identification to make it look different from the competition,” the report stated.

Unique identification is not only required for easy differentiation by consumers, but also used as anti-counterfeiting measure for products. The report says that labels have made it easier to detect fakes, as it is difficult to counterfeit a label with stringent security features. Fake labels can easily be identified by consumers, and they refrain from purchasing products with such labels.

“The label printing machines market is growing due to the rise in demand for such labels. Every manufacturer is trying to introduce a new printer that can print labels with more security and identification features,” it stated.

According to the TMR report, labels are the best option to depict the unique identification number or tracker on an item, which are used as a tracking agent. Labels are required to input a unique sequence and number to identify the product. Manufacturers or stockists can put an identification number in the form of a numeric, alpha-numeric, or pattern/code. Not only the printing machine, but also the storage area can be assigned with unique codes to divide it into sub-areas for better storage planning.

For better segregation, stock and inventory management can be broadly divided into two categories – location labelling and item labelling. Location labelling consists of labelling as per rows, sections, zones, and shelf numbers, whereas, item labelling is required to identify a particular item.

“Stock management and shipment tracking is easier now, which results in more industries opting for labelling. As the demand for labels are increasing, label printing machines also experience increased demand,” the report stated.

The report found an evolving regulatory landscape, which is propelling the label printing machines industry. It stated that governments of various countries are imposing regulations for stronger packaging and tracking management. As per new guidelines, industries such as pharmaceuticals and chemicals require diligent monitoring and tracking to avoid mishaps. Laws are intended to make the supply chain safer.

In terms of region, the global label printing machines market has been segmented into North America, Europe, Asia Pacific, Middle East and Africa, and South America. The report suggested that Asia Pacific is expected to lead the global label printing machines market, accounting for a substantial share in 2019, with Japan and China being the major markets in the region. The Asia Pacific label printing machines market is expected to rise at a high CAGR of ~6%, by volume, during the forecast period.

It also stated that the label printing machines market in the Middle East and Africa is expected to expand moderately during the forecast period.