Labelling plays a significant role in product packaging. Over the past few years labelling has been considered as one of the major tool for promoting a product. Labelling industry is experiencing a healthy growth in the developing and developed economies. To have a competitive edge, manufacturers are inclined to adopt a new and innovative products.
Cover up labels are one of the important labelling solution available to the brand owners. Print errors are not a rare incident in the business and due to which the cover up labels have gained popularity as it prevent the original labels and save considerable money that goes into producing a new label to fix a small mistake. In addition, Retail industry is expected to be one of the major end user of the cover up labels owing to the changing price scenario.
Cover up labels: Market Dynamics
The global cover up labels market is anticipated to be driven by the significant growth in organized retail sector. Price changes are done on regular basis in the organized retail industry, which requires a mechanism or a tool like a cover up label to overcome this challenge. Relabeling is a long process that can create a huge loss of the company. So, many organized retail companies are adopting cover up labels to prevent the original labels.
Apart from that, rising acceptance in pharmaceutical sector is expected to further propel the growth of cover up labels market during the forecast period. Moreover, ecommerce industry is experiencing double digit growth in developing economies that in turn is expected to escalate the sales of cover up labels market over the forecast period. In addition, discounts offered by the ecommerce retailers during the festive seasons also require them to use cover up label as the discounted prices are for a particular time and these labels cover up the original labels with the initial price.
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Pharmaceutical companies are also increasingly using cover up labels to showcase the composition of the drugs attractively. In addition, cover up labels are extensively used in the various distribution channel of a company because the product go through several use cycles that can damage the original labels.
In terms of geography, the global cover up labels market has been divided in to five key regions including North America, Latin America, Europe, Asia-Pacific and Middle East & Africa. Asia pacific region is expected to register highest CAGR during the forecast period. Mounting growth of ecommerce sector coupled with the changing lifestyles of the consumer is expected to fuel the sales of cover up labels market in the Asia pacific region. North America is expected to retain its dominance throughout the forecast period.
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Cover up labels Market: Key players
Some of the key players in the global cover up labels market are Imprint Enterprises Inc., Consolidated Label Co. Inc., Etiquette systems Inc., Presto Labels, Mindware Holdings Inc., Lewis Label Products Corporation, W.T. Nickell Label Company, Alpine Packaging, Inc., MPI Label Systems, Inc., QuickLabel Systems Inc., Chicago Tag & Label, Inc. etc.
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