New York (US), June 09, 2023 (GLOBE NEWSWIRE) -- Packaging Printing Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Packaging Printing Market Information by Technology, Application, and Region - Forecast till 2030”, The packaging printing market will expand from USD 410 billion in 2023 to USD 600 billion in 2030, at 8.00% rate over the appraisal period (2023 - 2030).
Market Synopsis
The technology utilized for product protection during distribution and storage is called packaging. A label including a pictorial, textual, and electronic representation of the item is called a package printing label.
Additionally, printing for packaging is utilized in a variety of packaging procedures, including those for paper & paperboard, flexible packaging, glass, rigid plastic, metal, and others.
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Market Competitive Landscape:
The important vendors active in the market for packaging printing include
- AR Packaging Group AB
- Amcor Limited
- Belmont Packaging
- Avery Dennison Graphics Solutions
- DS Smith Packaging Limited
- Duncan Printing Group
- Dunmore
- I. Du Pont Nemours and Company
- Eastman Kodak Co.
- Edelmann Packaging México S.A. De C.V.
- Xeikon N.V.
- Xerox Corporation
- Among others.
Report Scope:
| Report Attribute | Details |
| Market Size 2030 | USD 600 Billion |
| Compound Annual Growth Rate (CAGR) | 8.00% (2023-2030) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2030 |
| Historical Data | 2018 & 2020 |
| Forecast Units | Value (USD billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Type, Application, and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Increasing need for the housing and lodging sector with the rapid industrialization |
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In part because of the presence of well-known firms as Mondi PLC, Ahlstrom-Munksjö Oyj, and Autajon CS among others, and on top of the rising number of entrants, there is intense competition in the packaging printing sector. They have a competitive advantage over rivals thanks to their capacity to continuously innovate their product offerings. Strategic alliances, R&D, and mergers and acquisitions have all helped the players expand their market share.
Market USP Covered:
Market Drivers:
The increasing inclination of package producers towards 3D printing is one of the important trends in the global packaging printing industry. It creates an unimaginable physical product of any shape or geometry from an electronic data source or digital 3D model, enhancing the aesthetic value of packaging illustrations. In contrast to conventional methods, 3D printing enables more affordable model and prototype development as well as speedier manufacturing.
It makes it possible to build a business with a customized package based on its requirements. In the upcoming years, it is anticipated that a considerable portion of the demand for printing packaging would be influenced by the rising desire for personalized plans, particularly in the food and beverage and personal care industries.
Given its capacity to offer solutions that are both affordable and quick, digital printing has become a more and more common practice in the production of packaging. Digital printing has many advantages, including the ability to reduce time because, unlike traditional printing techniques, changing plates is not required constantly. The technology is moreover an environmentally sustainable choice due to its plateless design.
For instance, compared to conventional printing techniques, flatbed printing leaves behind less waste cartridges and creates less air pollution. As a result, using digital printing to produce packaging offers a green option that is advantageous to both businesses and the environment.
Opportunity
Rising interest in eco-friendly printing
By using fewer non-renewable resources and producing less trash, environmentally friendly printing can have a positive effect on the environment. Making use of process-free plates, such as cold press plates, can help to get rid of volatile substances that are bad for the environment. Digital printing saves time and money by doing away with the requirement for plate replacement.
Additionally, the emissions of volatile organic compounds can be greatly decreased by printing with water-based and UV-curable inks. The packaging printing market is experiencing new growth opportunities as a result of the rising demand for ecologically friendly printing techniques. This is a substantial potential for the industry to address this need.
Market Restraints:
Several companies that depend on petrochemical raw materials for their products are at a disadvantage by the global spike in raw material costs. Numerous derivatives, including UV resins, polyurethane resins, solvent glycols, and acrylic resins, have been impacted by the price increase. Additionally, the difficulties experienced by producers globally have been exacerbated by the soaring costs of pigment raw materials, notably titanium dioxide (TiO2).
COVID 19 Analysis
The packaging business had fewer lockdowns than other sectors during COVID-19 because it was regarded as crucial to the food, beverage, and medical sectors. Furthermore, purchases motivated by panic contributed to the enormous demand for basic goods and medications. Multiple supply chain issues led to a mixed COVID-19 impact on the expansion of the packaging printing sector.
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Market Segmentation
By Printing Technology
Flexography, Gravure, and Digital are the technology-based market segments for packaging printing. In terms of revenue, the Flexography segment dominated the Packaging Printing market in 2022. A common printing method used in the packaging sector is flexography. It is a quick, inexpensive printing method that works well for printing a lot of packing materials. Flexography is frequently used in the food and beverage sector as well as in the pharmaceutical and personal care industries to print on flexible materials like paper, plastics, and foil.
By Application
Food & Beverage, Personal Care, Pharmaceutical, and Others are some of the market segments for packaging printing that are based on application. In 2022, the market was dominated by the food and beverage category, and during the appraisal period, it is anticipated to surge at a quicker rate. Numerous factors, including growing customer desire for convenience, on-the-go, and ecological packaging, are driving the demand for creative and appealing packaging in the food and beverage sector. The market growth is positively impacted by all of these packaging printing aspects.
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Regional Insights
With a variety of printing methods and applications serving numerous sectors, Asia Pacific dominated the global market for printed packaging. The packaging sector is expanding in nations like Japan, China, India, and South Korea, and there is a growing need for packaging printing, which has improved the market's prospects in the area. Some of the causes influencing the expansion of the packaging sector include an ageing population, an increase in nuclear families, evolving packaging materials, and increased client demands. Packaging printing is predicted to become more popular as consumer demand for packaged beverages such as bottled water, alcoholic beverages, and carbonated soft drinks increases.
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