(MENAFN- GetNews) Global Digital Printing Packaging Market by Packaging Type (Labels, Flexible Packaging, & Other), by Technology (Inkjet, Electrophotography & Others), by Application (Boxes, Cans, Bottles, and Others), by End-User (Food & Beverages, Personal care, Pharmaceuticals, Electronics Goods and Others) and by Region - Forecast to 2023
Digital Printing Packaging Market Scope
The global market for digital printing packaging 2020 was estimated at USD 11.10 billion in 2015, says Market Research Future (MRFR). The projected growth rate of the market is expected to be 10.5% during the forecast period (2017 to 2023).
Primary Drivers and Main Restraints
The digital printing for packaging is continuously gaining unabated popularity since more and more end-users are striving to benefit from the dynamic on-package printing technology to explore a wide range of designs in the same category. Over the years, various opportunities have come to the fore, as digital printing continues to ease the design handling complexities, bring down the operational time, and elevate the flexibility in product customization as well as order placement. In the next couple of years, the packaging industry can observe a revolution on account of the rising applications of digital printing. Digital printing is touted to be one of the most significant printing technologies for packaging and labels. The technology has been recognized by the brand owners who are trying to achieve quick-turnaround capability, which in turn boosts the market demand across the globe.
Digitally printed packaging helps enhance the workflow, allows innovative marketing, and facilitates quicker marketing. Recent developments in digital printing approaches for carton cutting, digital carton creasing, and other finishing technologies has increased the application in flexible packaging, folding cartons as well as corrugated packaging.
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Digital printing has successfully transformed packaging by offering custom variations that provide the products with on-shelf distinctions. Packaging substrates like labels, corrugated boxes, and cartons have given way to eye-catching commercialization that can draw more attention from consumers like never before. MRFR analysts recognize custom caps as the top trend in the digital printing packaging market at present, which most of the brand owners are leveraging in order to leave a positive impact on the consumers and improve their retention rate.
Some of the highly distinguished vendors in the worldwide digital printing packaging market include Quad Graphics, Inc. (U.S.), Xeikon N.V. (Netherlands), Hewlett-Packard Inc. (U.S.), Mondi Group (South Africa), Weber Packaging Solutions Inc. (U.S.), Reel Appeal Limited (U.K.), E.I. du Pont de Nemours and Company (U.S.), W S Packaging Group, Inc. (U.S.), Labels in Motion (U.S.), Xerox Corporation (U.S.), to name a few.
The digital printing packaging market has been carefully analyzed in the MRFR report, and the primary segments considered include type, technology, application, and end-user.
The types of digital printing packaging systems include labels, flexible packaging, and others. Between these, the labels segment can gain the highest prominence, thanks to their various applications such as display numbering and sequential barcodes, variable text, titles, or graphics, and also add value to the product.
The technology-based market segmentation includes inkjet, electrophotography, and others.
The application-dependent segments are boxes, bottles, cans, and others.
Food & beverages, personal care, electronics goods, pharmaceuticals, and others are the primary end-users in the digital printing packaging market. Out of these, the food & beverage segment can gain the highest traction in the upcoming years. Accelerated demand for labeling as well as product differentiation for authentication drives the segmental growth.
The latest trends and growth opportunities in the digital printing packaging market have been exhaustively covered in the report, considering the regions of Asia Pacific (APAC), Europe, North America, and the Middle East & Africa (MEA).
APAC has the highest chance of achieving the top spot in the global market for digital printing packaging, thanks to the increasing disposable income among individuals and their evolving lifestyle. The market growth is quite apparent in the emerging countries of India and China, with the latter occupying the larger share, on account of the flourishing food and beverage (F & B) and healthcare sectors. The expansive consumer base, rising number of manufacturing activities, and the rapid economic growth in the region also push the market on an upward trajectory.
Although being a matured market, Europe offers a considerable incremental opportunity for digital printing for the packaging market. The ramped-up demand for aesthetic printing solutions is identified as one of the prime growth inducing factors in the regional market. Additionally, digitally printed folding cartons are finding more applications in end-use industries like beverages, personal care & cosmetics, food, and others, leading to market growth in the region.
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