Growing demand from the end-user industries to drive the growth for the global digital printing packaging market in the forecast period, 2024-2028.
According to TechSci Research report, “Global Digital printing packaging Market – By Region, Competition Forecast and Opportunities, 2018-2028”, global digital printing packaging market is projected to grow at an impressive rate in the forecast period, 2024-2028. This can be ascribed to the option of printing on demand associated with digital packaging. This option helps in reducing the waste and ensures that changes in the new packaging and graphic designs would not result in unused stock. Besides, there are numerous advantages with digital printing packaging such as ability to produce short print runs economically and in a faster duration.
Furthermore, growing demand for sustainable packaging solutions is further driving the growth of global digital printing packaging market. Digital printing packaging does not use photo chemicals or film plates, thereby eliminates the stages between digital document file and final print. Also, the use of digital prevents the replacement of plates thereby not only saves cost but also saves a lot of time.
The requirement of a significant initial investment, installation & maintenance costs of digital printing packaging are significantly higher, and the price of ink for printing is very high. These are some of the factors that restrain the growth of global digital printing packaging market. Also, fluctuating costs of raw materials further slows down the market growth during the forecast period.
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Global digital printing packaging market is segmented based on printing ink, printing technology, format, packaging type, end user industry, region, and company.
Based on printing ink, the market is divided into solvent-based, UV-based, aqueous, and others. The solvent-based segment will hold the largest market share in 2022. Due to its fade-proof, waterproof, and scratch-resistant, it is used for printing products that are used to stored or published outside. Demand from various industries is growing to fulfill their needs. It is a comparatively economical kind of ink that works with digital printers. All these factors make the solvent-based segment dominate the market.
Based on printing technology, the market is categorized into thermal transfer printing, inkjet printing, electrophotography & electrostatic printing, and others. The inkjet printing segment will hold the largest market share in 2022. This technology allows for the creation of numerous pieces on a single print bed and prints clear and smoother details due to increased print head resolution. Due to its low cost of the machine, capability to produce virtuous quality output at a low maintenance cost, smaller size, and fast printing capabilities, it is more demanded by the manufacturer and dominates the segment.
Based on the end-user industry, the market is divided into food & beverage, pharmaceutical & healthcare, household & cosmetic products, and others. As per estimates, the food & beverage segment will experience the highest market share during the forecast period. The growing need for product differentiation and labeling to authenticate items supports the growth of the printing industry in the food and beverage packaging segment. Apart from these, it helps in increasing the shelf life, and creating prostatic visuals of products is propelling the digital printing packaging market growth.
Major companies operating in global digital printing packaging market are:
- CCL Industries, Inc.
- Quad/Graphics Inc.
- DS Smith plc
- Smurfit Kappa Group plc
- Printpack, Inc.
- Thimm The Highpack Group
- Krones AG
- EPAC Holdings, Inc.
- Nosco Inc.
- Quantum Print & Packaging Ltd.
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” Asia- Pacific region is expected to register the highest growth in the global digital printing packaging market in the coming years owing to its increasing manufacturing unit, growing economies, and growing healthcare and electronic sector in the region. The presence of massive consumer goods marketplaces in this region and rising people’s affluence towards the sustainable packaging options are some of the reasons driving the market growth in the region.
Furthermore, the shifting inclination of manufacturers toward digital printing over conventional printing methods for excluding various pre-press stages between files and final goods and inhibiting wastage are vital factors for propelling the market share and creating favorable conditions to drive the global digital printing packaging market growth till 2028.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Global Digital Printing Packaging Market- Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028, Segmented By Printing Ink (Solvent-Based, UV-based, Aqueous, Others), By Printing Technology (Thermal Transfer Printing, Inkjet Printing, Electrophotography & Electrostatic Printing, Others), By Format (Fill Color Printing, Variable Data Printing, Large Format Printing, Others), By Packaging Type (Corrugated, Folding Cartons, Flexible Packaging, Others), By End User Industry (Food & Beverage, Pharmaceutical & Healthcare, Household & Cosmetic Products, Others), By Company, By Region, and Competition, has evaluated the future growth potential of global digital printing packaging market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in global digital printing packaging market.”
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