Complexity and functionality drive label development, reports FINAT RADAR
Prime labels are becoming increasingly complex and non-prime labels are becoming increasingly functional. They are among the key trends dominating the label industry according to the latest FINAT RADAR.
Published twice a year to its members by the international label association FINAT, RADAR is a unique, in-depth profile of the complex and diversified European label industry. The report brings together focused research and analysis, conducted by market research company LPC Inc.
The eighth edition of FINAT RADAR provides a unique perspective on the European labelling sector, and on the trends and forces that are driving brands to adopt and implement specific labelling technologies and decoration formats. Current marketplace factors considered include the impact on the label supply chain, from raw material suppliers to label converters, and industry customers.
It also reports that the Eurozone economy continues to perform robustly and a recovering labour market and healthy external demand continue to support ongoing label sector growth. This is encouraging brands to seek more ways to connect with their customers – among them is via the types of package decoration they conceptualize and push through the supply chain.
FINAT President Chris Ellison comments: “FINAT’s RADAR gives us a unique perspective on the European labelling sector, and on the trends and forces that are driving brands to adopt and implement specific labelling technologies and decoration formats. More and more, we are seeing labels become a way for brands to achieve a market-specific approach late in the supply chain. This means shorter runs as SKUs proliferate, and the ability for a label converter to turn around a job quickly given late-stage new design and/or label functionality requirements.”
He explains that this remains one of the forces driving digital press adoption and influences the ways marketing and R&D departments create campaigns and strategise ways to speak to, and captivate, consumers.
He continues: “When asked which printed packaging sector delivers the most innovation, again and again brands claim their label suppliers offer more innovation and agility over their flexible packaging, carton and corrugated suppliers.”
Concludes Ellison: “Ours is an industry of change but the future remains bright for labels.”
The FINAT RADAR is an in-depth, reliable portrait of current status in the label industry. It is now recognised by members as a valuable complement to the association’s extensive portfolio of industry-standard technical publications and its programme of annual events. The latter include the top-level FINAT European Label Forum (June 6-8 2018, Dublin) for which the programme will be announced and the registration will open mid-February 2018.