FINAT – Complexity and functionality drive label development
THE NETHERLANDS • 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 an in-depth profile of the complex and diversified European label industry, according to the association. The report brings together research and analysis, conducted by market research company LPC Inc.
The eighth edition of FINAT Radar provides a comprehensive 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 – including via the types of package decoration they conceptualize and push through the supply chain.
FINAT president Chris Ellison comments: “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.”
Ellison 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.
The FINAT Radar is a portrait of the current status in the label industry. It is now recognised by members as a valuable complement to the association’s portfolio of technical publications and its programme of annual events. A forthcoming event which will also be covered by NarrowWebTech includes the FINAT European Label Forum, which takes place 6 to 8 June 2018 in Dublin, Ireland.