Attractive Market Opportunities in the Multi-Part Labels Market by 2026
Multi-part labels are additional labels with part-specific content, aside from the base label on the packed products. These additional label systems are designed in a way that can be removed step-by-step or as a system, ensuring the right information at the right locations. Multi-part labels ensure complete traceability for the product documentation. The multipart base label is preprinted below the partial labels in order to have the product brand name permanently attached to that particular part. Among product type, multi-part bar code labels are useful for asset tracking and inventory management. Multi-part bar code labels add an advanced security to tracking inventory and equipment.The multi-part labels are designed to prevent theft, increase the chance of asset recovery, and improve tracking. It duplicates information in various parts of the labels to prevent vandals from removing them and reduce errors. Multi-part label sets can include any text or logo, image, variable batch numbers, dates or barcodes and can be personalized to suit companies branding requirements and individual needs.
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Multi-part Labels Market: Market Dynamics
The major factors which are responsible for the growth of the multi-part labels market are the growth of food & beverage industry, and rising security issues of any equipment asproducts can get stolen, accidentally inventoried by subcontractors or moved to another department. To make the equipment and product secure and keeping tracked of inventory in the store or warehouse, multi-part label is growing at faster pace in packaging industry. In terms of end-user industries, food & beverages account for high market share for multi-part labels accounting for 47% of the market. As for food & beverage packaging, multi-part labels can help trace and secure items throughout the supply chains, providing interfere indication. All end user industries prefer multi-part barcode labels, as bar code tags can be sited in multiple parts of the equipment. Moreover, the multi-part labels packaging offer same duplicate bar code numbers on every essential part the equipment and product. By doing this, if a thief counterfeits, removes, or damage one label, then other labels will still be usable to detect the product ownership.
Multi-part Labels Market: Regional Outlook
By region, multi-part labels market has been categorized into five key regions including Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa. The multi-part labels market is expected to grow at significant CAGR during the forecast period. North America accounts high market share in multi-part labels market, followed by Europe, and Asia-Pacific. North multi-part labels market is experiencing the rapid increase due rising security concerns such as tracking and theft issues and growth of packaging industry. The Europe multi-part labels market is projected to register healthy growth as consumer demand for secured packaging is rising rapidly. Multi-part labels market for Asia Pacific is also expected to witness high growth during the forecast period primarily attributed to the growth of equipment labeling market, especially in China and India.
Multi-part Labels Market: Key players
Some of the player’s multi-part labels market are Insignia Label Solutions Ltd., LabelsPlus Ltd, Insignia Label Solutions Ltd., CCL Design Stuttgart AG, and many others. Multi-part labels manufacturer are focusing on the convenience of consumers and offering them advanced secured multi-part label packaging with easy tracking and documentation of any equipment or product.
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