Chicago, Jan. 14, 2024 (GLOBE NEWSWIRE) -- The Global Packaging Printing Market size is projected to grow from USD 352.1 billion in 2020 to USD 433.4 billion by 2025, at a CAGR of 4.2% during the forecast period, as per the recent study by MarketsandMarkets™. The growth of this market is attributed to the cost-effectiveness of packaging printing technique and growing demand for food & beverage product packaging with high aesthetic appeal & correct branding. Packaging printing is a means of reproducing graphics or texts on packaging substrates by utilizing various printing methods, such as flexography, rotogravure, screen printing, offset, and digital printing. Printing can be incorporated on different packaging media, such as corrugated boxes, cartons, bags, metal, cans, tags, and labels. Printing on packaging mediums provides a variety of benefits such as photo-realistic illustrations, aesthetic appeal, better communicability, and plays a role in the marketing, promotional, and distributional activities of end-products.
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Browse in-depth TOC on "Packaging Printing Market”.
165 - Market Data Tables
46 - Figures
206 - Pages
List of Key Players in Packaging Printing Market:
- Mondi PLC (UK)
- Sonoco Products Company (US)
- Graphics Packaging Holding Company (US)
Drivers, Opportunities and Challenges in Packaging Printing Market:
- Drivers: Growing demand for innovative printing.
- Restraint: Initial capital investment required
- Opportunity: Increasing demand for sustainable printing
- Challenge: Packaging and printing regulations
Key Findings of the Study:
- The flexible segment is likely to hold the 2nd largest share of the packaging printing market during the forecast period.
- Gravure segment likely to account for the 2nd largest share of packaging printing market during the forecast period.
- The Solvent-based segment is likely to grow at the highest CAGR during the forecast period.
- Rapid economic growth in China, and India is expected to propel the APAC packaging printing market in the coming years.
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The food & beverage segment is estimated to be the fastest growing as well as the largest application segment in the packaging printing market. This trend is projected to continue during the forecast period, due to the increase in demand for product differentiation and labelling to authenticate the products, which drives the market growth for printing in the food & beverage packaging segment.
Based on printing technology, the digital printing segment is estimated to be the fastest-growing segment as digital printing technology can produce labels that can withstand various climatic conditions and have properties such as excellent scan ability, scratch resistance, and a long shelf-life.
The label & tags segment is estimated to be the fastest-growing segment in the packaging printing market based on packaging type, and this trend is projected to continue during the forecast period, due to factors such as availability of vibrant colors, reduced packaging costs, and reduced turnaround time. The labels & tags segment has extensive wide areas of application, which include the food & beverage industry, wines & spirits, personal care & cosmetic, bottles, and unsupported film packaging. It also provides product-related specifications, brand identification, invoices, inventory tracking, counterfeit deterrence, evidence tracking for law enforcement, and prevention of document duplication and tampering, driving the market growth of the labels segment in packaging printing market.
The packaging industry printing provides the quality, efficiency, and innovation that the packaging industry demands. It offers wide range of benefits that includes enhanced aesthetic appeal, better communicability, and enables protection from counterfeit. The market for packaging printing is strongly driven by the growth in the packaging industry, along with the growing demand for aesthetic appeal and innovative printing. High disposable income has enabled the end users to spend more on such types of packaging, which facilitates ease of use. Most importantly, changing consumer preference has triggered the use of printed packaging in day-to-day life.
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High growth potential in the emerging Asia Pacific markets is expected to provide new growth opportunities to players in the packaging printing market. In 2019, Asia Pacific accounted for the fastest-growing region in the global packaging printing market, with China being the largest market in this region. Developing countries such as China and India are projected to be the emerging markets, making Asia Pacific the fastest-growing region in the packaging printing market. These emerging economies focus on adopting the latest technologies and manufacturing processes in various industrial segments. The growth of the packaging printing market in this region is driven by factors such as growth in demand for sustainable printing, an increase in demand for flexible packaging, cost-effectiveness, and reduced packaging waste.
The growth of the packaging printing market is attributed to the increase in demand from various end-use applications. Consumers are resorting to panic-buying and bulk stocking due to the fear of lockdowns during the COVID-19 pandemic. Increasing number of people are ordering daily staples and fresh food through online channels, which leads to an increase in the demand for authenticated and informative packaging offered by printed packaging solutions.
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