COVID-19 outbreak and lockdown restrictions across the globe have affected manufacturing activities across the world and has created a supply pressure for a short term on packaging manufacturers, as raw material suppliers across the globe have been functioning at lowered efficiencies.

- However, on a positive note, the healthcare industry, which has been deemed essential during the COVID-19 pandemic by governments across the globe, has been driving demand for market growth. The increasing usage of pharmaceuticals and medicals devices amidst the pandemic, has provided significant opportunities for the print label manufacturers in the country. Over the coming months, the industry is expected to observe significant boost in the consumption rates.

- Further, factors like the increasing demand for manufactured goods and an upsurge in the disposable income of people in Mexico are expected to propel the prospects for market growth during the forecast period.

- Mexico is one of the largest and most competitive labels market in Latin America. According to research conducted by the Mexican magazine, Label Pack and Canagraf, the national chamber for the graphic arts industry, stated that there was a rise in the number of label printers in the last decade, from around 300 companies to some 450-550 companies.

- Exports to the United States alone contributed to more than USD 289.5 billion in 2019. A higher demand for manufacturing exports, such as vehicles, electrical machinery, industrial machinery, optical and medical instruments, and agricultural produce, is expected to influence the print label market positively.

- The food processing and agriculture-based industries have registered a growing interest for sustainable and greener packaging solutions. They also demand flexible packaging, with longer shelf life and attractive graphics. Changing needs of buyers, greater acceptance of color digital printing, and demand for more personalized offerings are shaping the print label industry.

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Key Market Trends

Offset Printing Expected to Have Significant Growth Rate

- Offset printing is a dominant industrial printing technology used to print a wide range of products, such as packaging for boxes or cartons. Offset printing, also called lithography, is a process wherein the oily ink printing works only on lipophilic areas of the flat surface, where image and non-image areas coexist. The inked image is transferred or offset from the printing surface to a rubber blanket.

- High quality printing techniques, cost effectiveness, and changing preferences of packaging buyers are some of the factors fueling growth of the market in order to tap larger consumer base. Most of the applications of offset printing are difficult to replace with other substitutes, due to the unique printing technology and advanced features

- In the current scenario, offset remains the most cost-effective, versatile, reliable, and flexible printing technology across Mexico. In the coming years, the advanced technological integration with offset printer will likely lead to huge competition from rotogravure printers in the packaging arena.

- The markets that are highly receptive to offset printing are the wine, liquor, and cosmetics market. Offset printing is effective for multiple-color labelling (up to 6 colors) and printing halftone artwork. Offset printing is idealized on round containers, such as plastic cosmetic tubes and bottles for creams.

Beverages to Dominate the Market Share

- Labelling has been an indispensable part of marketing, which has a profound influence on consumer purchasing patterns. In the beverage industry, brand owners are looking for new approaches to develop labels, in order to attract consumers’ interest.

- With the growth of digital printing, label manufacturers are offering to customize packaging and personalization of products for customers. Moreover, increasing safety norms and regulations by respective regulatory bodies of the countries are making print label manufacturers adhere to several guidelines.

- The beverage industry is witnessing an increasing trend of print labeling, owing to personalization. Manufacturers are continually looking for new ways to present their products and create new identities for their brands. This demand forces new labeling technologies to develop and expand continuously. Hence, the advent of customized labelling is attracting consumers toward purchasing products with a differentiating factor and helping brands take advantage of the potentially untapped part of the labelling market.

- With the growing wine market, the need for labeling is becoming crucial. According to the Mexican Wine Council (CMV), the average per capita consumption of wine increased from almost 450 milliliters in 2012 to 960 milliliters in 2019. The council also estimated that Mexicans consume an average of 9 million boxes. There is a high scope of demand as the value chain in the country has been producing only about 2.4 million boxes of wine (enough to meet just 30% of domestic demand). Such lurking demand could drive the market for labeling in the country.

Competitive Landscape

The Mexican Print Label Market is moderately fragmented with the presence of several market players, such as CCL Industrues, Mondi Group, Avery Dennison, Esko-Graphics BV among others, who enjoy a small market share with a large number of other firms in the industry. The companies keep on innovating and entering into strategic partnerships in order to maintain their market share.

- August 2020 - UPM Raflatac announced that the company has joined the U.S. Plastics Pact. This collaborative, solutions-driven initiative is rooted in four ambitious goals intended to drive significant systems change by unifying diverse cross-sector approaches, setting a national strategy, and creating scalable solutions to create a path forward toward a circular economy for plastics in the United States by 2025.

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