With the global automatic labeling machine market currently valued at $2.5 billion, the industry is expected to undergo a compound annual growth rate of 3.6% between 2019 and 2024, according to a Research and Markets economic forecast published in May 2019.
Of all labeling-related products available, the sale of self-adhesive and pressure-sensitive labelers are estimated to comprise the largest share of the market within the same four years, the forecast predicts.
The Research and Markets forecast cites "key factors" for its prediction, including an increased demand for "high speed and high quality labeling solutions" and stricter requirements for food and drug packaging.
Keeping food labeling up-to-date in the U.S. and Canada
For example, the forecast came out amid a recent push by the Food and Drug Administration to "modernize" food standards and labeling as a means of helping reduce preventable illnesses and fatalities resulting from poor nutrition.
Over the past several months, the FDA has published monthly industry guidance documents related to the voluntary and involuntary labeling of certain ingredients and chemicals, as well as their methods of production.
In Canada, the Canadian Food Inspection Agency revealed in August 2019 its intention to change and update the country's feed regulations in response to recent technological and scientific advances in the industry.
Among other changes, the CFIA announced that the regulatory revamp would allow for "more flexibility" with regards to labeling requirements for feed products.
Changes to warning labels in the pharmaceutical industry
Within the automatic labeling machine market, the pharmaceutical industry, in particular, is expected to see the greatest amount of growth as a result of recent regulatory shifts intended to improve product safety and raise labeling awareness, the forecast also predicts.
Last month, the FDA published two draft guidances related to the labeling of prescription drugs – particularly those with the potential for abuse and physical harm – and among other suggestions, advised pharmaceutical companies to avoid "redundancy" in printing relevant information on packaging.
Opioid products, among other addictive drugs, are advised to include warnings related to misuse and potential addiction in several sections on their packaging, including on the "Boxed Warning" and "Warnings and Precautions".
Companies seeking to produce their own self-adhesive labels using pressure-sensitive machines to satisfy the most recent FDA regulations and meet increased customer demand for their products can purchase high-quality label printers of their own by viewing the selection available on Optimedia Labs' U.S. website, or by visiting our Canadian site.