Global bar code sticker labeling machine market was valued at USD 4.49 billion in 2021 and is expected to reach USD 6.61 billion by 2029, registering a CAGR of 4.96% during the forecast period of 2022-2029. "Food and Beverages" accounts for the material type segment in the bar code sticker labeling machine market owing to its huge adoption within the food and beverage sector. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, patent analysis and technological advancements.
The bar code sticker labeling machine is gaining traction across a range of end user verticals especially the food and beverages owing to the high need for the labeling solutions. Additionally, the automation in the bar code sticker labeling machines also allows to work at a rapid rate and requires minimal movement of parts. As a result, the market is estimated to have an accelerated growth over the forecast period.
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Bar Code Sticker Labeling Machine Market Dynamics
Drivers
Growth In Adoption across Food And Beverage Sector
The population is expanding at a huge rate across the globe. As a result, there is a sharp increase in consumer preference for and demand for food and beverage. The demand for the bar code sticker labeling is also increasing as it is largely used to label the food packaging, which further boosts the demand for the bar code sticker labeling machine.
The machine is largely used to label various products such as the ready-to-eat meals, snacks and other packed food products. Another factor driving the market's growth rate is the rising demand for convenience foods brought on by changing lifestyles and hectic schedules. Consequently, the increased consumption within the food sector further positively impacts the bar code sticker labeling machine market.
Opportunities
Increased Investments for Research and Developments
The surging number of strategic market collaborations has led to the rise in funds to be allocated for developing advanced and automated packaging equipment/machinery. Moreover, the increment in the level of investment for the various research and development (R&D) proficiencies will further extend profitable opportunities to the market players in the forecast period of 2022 to 2029.
Technological Advancements
Additionally, the advancements in manufacturing technology, expanding technological advancements in packaging equipment and technology to accommodate a diverse range of products will further expand the future growth of the bar code sticker labeling machine market.
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COVID-19 Impact on Bar Code Sticker Labeling Machine Market
The recent outbreak of coronavirus had a negative influence on the bar code sticker labeling machine market. Trade restrictions and supply disruptions impacted market demand and supply chain disruptions. The implementation of travel restrictions turned out to be a curse for the industry. The sharp drop further hampered the market growth rate in consumer demand for luxury and superfluous goods. The key end-user industries' subpar performance in the food and beverage, cosmetics, and chemicals sectors further slowed the market's growth rate.
Global Bar Code Sticker Labeling Machine Market Scope
Product Type
- Thermal Transfer Labels
- Direct Thermal Labels
- Laser Sheet Labels
- Inkjet Labels
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