Southeast Asian label market poised for growth

On the heals of the first ever Labelexpo Southeast Asia, here’s a look at some quick facts pertaining to the region and its label market:

• Label consumption is pitched at around 6-7 percent growth.
• Key growth drivers include high inward investment, a young demographic and a burgeoning middle class which is driving consumer consumption.
• The region has a collective population of around 640 million and comprises 10 very diverse and dynamic economies which are each in different stages of transition.
• The overall printing and packaging industry is likely to expand by 5 percent this year and continue to grow for the next three years. The industry is worth around 400 – 500 billion baht this year, particularly in Asia where label printing has expanded by 6 – 7 percent. (Source: Department of Industrial Promotion, Thailand.)