Labels industry now bouncing back to normalcy
18 January 2021: According to a recent Research & Markets report, the print label market is expected to reach USD 49. 86 billion in 2025 at a CAGR of 4.11% over the forecast period (2020-2025). The Print Label Market is segmented by Print Process (Offset lithography, Gravure, Flexography, Screen, Letterpress, Inkjet), Label Format (Wet-glue labels, Pressure-sensitive labels, Linerless labels, Multi-part tracking labels, In-mold labels, Sleeves). Labels are widely used in food, beverage, healthcare, cosmetics, household, industrial, logistics, industries.
“The pressure sensitive adhesive labels industry is growing at a steady and rapid pace in India. It is now time that the contribution of those who have achieved success is chronicled so that those who wish to move ahead have a platform to look for information and news. This blog intends to provide inspiration and reference,” says Harveer Singh Sahni, Chairman Weldon Celloplast Ltd.
In his recent blog, Sahni says: “Over the last few years, we have witnessed a gradual and steady move by the printing fraternity into packaging. According to the Indian Institute of Packaging, consumption of packaging in India increased 200% in the past decade, from 4.3 kgs per person per annum to 8.6 kgs. The industry is expected to reach US$ 204.81 billion by 2025 from US$ 50.5 billion in 2019 growing at 26.7% annually.”
He adds “The onslaught of Covid-19 and its rapid spread crossing all global borders to become a pandemic lead to lockdowns that brought the world to an almost standstill. Like most industries label industry also was left dumbfounded and wondering about the future. With no work, no revenues and cashflows coming to a halt, jobs were being lost, worker migration started adding to the woes of the industry. The essential needs of a suffering population had to be taken care of, after the initial couple of weeks government allowed those catering to food, pharma and essential supplies to start production. There seemed to be rush of new business coming out of the emergent need for sanitizers and therefore labels and packaging for them. Since these industries needed labels and packaging, a substantial part of printers were back to work.”
Sahni concludes “By end of the difficult year 2020 the label industry started showing the resilience that it has, by getting back to normalcy. The author travelled to many printers in the North and Mumbai in the West of India to assess the situation; the industry seems to have bounced back to normal working though with and underlying financial stress.”
www.harveersahni.blogspot.com
