Packaging Printing Market to Accelerate US$ 441.1 billion by 2030, to Expand at a CAGR of 4.7% | Exclusive Study by Transparency Market Research

Wilmington, Delaware, United States, July 05, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The packaging printing market was valued at US$ 293.2 Bn in 2021. It is projected to grow at a CAGR of 4.7% from 2022 to 2030 and reach US$ 441.1 Bn by 2030.

Printing companies consistently strive to meet customer needs, they are constantly looking for ways to reduce labor. Traditionally, package printing press operators have been required to use hands-on methods of operation. This has become increasingly difficult in this rapidly developing business environment.

With the operator tweaking the controls less, machines are able to optimize the automation and process control technologies as they should. A number of start-up businesses throughout the world have been launching new products, introducing new categories of foods and non-foods. A number of changes in the packaging industry have occurred in recent years as a result of the pandemic and the growing demand for foods and beverages.

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Market Snapshot:

Global Packaging Printing Market: Key Players

Large numbers of manufacturers control the majority of the share of the global market, which is fragmented. Key players are developing innovative products to gain revenue benefits.

Sealed Air Corporation, Amcor plc, Mondi Group, Sonoco Products Company, Smurfit Kappa Group plc, Global Printing & Packaging, Duncan Print Group, Toppan Printing Co., Ltd., Printpack, Halaman Printing and Packaging Corp, Printing and Packaging Inc., and BLUE LABEL PACKAGING COMPANY.

• In June 2023, Tamil Nadu-based Saravana Graphics bought two Ricoh digital presses this year - the RicohPro 8320S Monochrome Digital Production Press and the RicohPro 7200X 11-Color Digital Production Press.
• In June 2023, the Flexo Xperience Center (FXC) held six technology and printing application events from June through November to further enhance its reputation as a flexo printing education and collaboration facility. Collaboration, research, experimentation, training, and collaboration among printers, producers, converters, CPGs, brands, students, and educational institutions are among the ways to #MoveFlexoForward.

Global Packaging Printing: Regional Landscape

• Economies in the Asia Pacific are growing rapidly, resulting in rapid manufacturing growth.
• Homegrown brands and small businesses are expected to grow in India and China over the coming years.
• Players in the market have come up with new solutions to address the growing demand for pouches, diversified foods, customized packaging, decorative components, and sustainable printing in North American region.
• Packaging printing in the United States is being driven by the growing healthcare sector and the increasing use of convenient packaging.

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For instance, CII and the Tata Communication Centre for Digital Transformation in Print and Packaging are working towards digitization of the printing and packaging industry. An international conference on automation, the use of digital technology in security tracking and trace and active packaging, as well as sustainability, was held at the Indian Habitat Center in New Delhi on June 9, 2023. The conference was attended by many printers and packaging converters, suppliers, and experts.

Key Findings of the Market Report

• Packaging printing is expected to grow significantly due to the growing adoption of smart packaging and digital printing techniques.
• The demand for paper bags will continue to rise in the coming years due to ecommerce and other industries driving demand for paper bags.
• The food and beverage industry is highly competitive owing to the busy lifestyles of consumers.
• The increasing demand for flexography technologies in corrugated containers and folding cartons in the milk and beverage industries is expected to drive demand for them in the next few years.
• As sustainable packaging and recycling and renewable resources become more popular, packaging printing is expected to grow.
  

Global Packaging Printing Market: Growth Drivers

• Packaging printing market growth can be attributed to the increasing adoption of digital printing techniques. Online shopping trends and rising market competition have also led to the adoption of digital printing, particularly across retail and e-commerce applications, due to the need to pack large quantities of goods within a short period of time while ensuring high quality prints.
• A combination of technological advancements and growing demand for creative packaging combined with high brand awareness is expected to drive this market. Moreover, offerings have become much more personalized through advancements such as artificial intelligence, machine learning, and the Internet of Things (IoT).
• The development of packaging printing technologies is also one of the factors driving the market. Growing demand for pharmaceutical products and the growing popularity of packaging that is reusable are major factors driving the growth of this market. In addition, a softer growth rate for the printing industry may be contributed to by growing excitement over innovative printing. A rise in the packaging industry and a rise in supply chain management will also influence packaging printing market growth.
• Sustainable packaging solutions have become increasingly popular in recent years. Environmentally friendly packaging options are being pushed by consumers and regulatory bodies. As a result, sustainable materials and processes have become increasingly important for printing technologies. Printing has advanced considerably technologically in recent years, including digital printing techniques that offer faster turnaround times, greater customization options, and more cost-effective solutions. More businesses can access these technologies as a result of these advancements, increasing demand for packaging printing services.

Global Packaging Printing Market: Segmentation

Printing

• Flexography
• Offset
• Digital
• Others (Gravure, Screen Printing)

Substrate

• Paper
• Plastic
• Fabric
• Others (Wood, Glass, Metal, etc.)

Application

• Food & Beverage
• Healthcare
• Personal Care & Home Care
• Chemical & Fertilizer
• Others (Automotive, Electronics, etc.)
  

Region

• North America
• Latin America
• Europe
• Asia Pacific
• Middle East & Africa
  

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