Selbyville, Delaware, June 07, 2023 (GLOBE NEWSWIRE) --
Digital Printing Packaging Market is projected to cross USD 30 billion by 2032, as per a recent research report by Global Market Insights Inc.
The rapid expansion of the E-commerce sector worldwide will contribute to the market growth. The surge in online sales has spurred the growing need for on-demand, quality, as well as personalized solutions. Digital printing helps in setting up the customer's online business as it allows brands to print part numbers, unique symbols, and different information on packaging materials. This makes the chain easy to view, prove and improve, favouring the industry growth. However, the increasing need for initial investment and technology for incorporating digital printing into the existing packaging processes and workflows may pose as a barrier for the industry growth.
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Rising preference for solvent-based packaging
With respect to ink type, the digital printing packaging market share from the solvent-based segment is set to witness over 6% CAGR from 2023-2032. In recent years, the growing focus of the packaging industry on environmental sustainability has resulted in the development of solvent-based and UV-curable inks. The rising preference for solvent-based solvents for reducing health and safety issues along with environmental impacts will play a prominent role in the industry expansion.
Robust application in pharmaceutical & healthcare
Based on end-use, the digital printing packaging market size from the pharmaceutical & healthcare segment is estimated to record over 5% CAGR from 2023-2032. The growth can be mainly attributed to the increasing prominence of new technologies in packaging printing. The surging consumer spending capabilities along with the scaling demand for sustainable products have made way for significant advancements in the packaging industry. The rapidly expanding pharmaceutical sector and the growing prominence of convenient packaging will contribute to the segment growth.
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APAC to emerge as a major revenue pocket
Asia Pacific digital printing packaging market will surpass USD 9 billion by the end of 2032 due to the surging government support and investments. In order to promote the deployment of digital printing technologies, several governments in the region are taking initiatives for boosting local manufacturing capabilities and sustainability practices across the packaging industry. The rising technological advancements will also drive the market proliferation.
Digital Printing Packaging Market Competitive Landscape
Agfa-Gevaert Grou, Bobst, Durst Group, Domino Printing Sciences, Landa Corporation, Quad/Graphics Inc., Printpack, DS Smith Plc, Konica Minolta, Creative Labels Inc., Thimm Group, Xeikon, Traco Manufacturing, Mondi PLC, WS Packaging Group, Inc., and Colordruck Baiersbronn are some of the major digital printing packaging industry players. These firms are implementing partnerships and acquisitions to expand their global presence.
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About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
