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Packaging Printing Market
The packaging printing market is experiencing robust growth as industries seek innovative, cost-effective, and sustainable solutions.
AUSTIN, TX, UNITED STATES, December 13, 2024 /EINPresswire / -- The packaging printing market was valued at USD 399.84 billion in 2023 and is projected to reach USD 604.55 billion by 2032, expanding at a compound annual growth rate (CAGR) of 4.77% over the forecast period from 2024 to 2032.
The Role of Packaging Printing
technology in Protection, Promotion, and Brand Identity
Packaging printing technology is one of the most important part responsible for protection and promotion. The main role of packaging is to hold and protect products during distribution, storage and sale but it also acts as one of the most powerful marketing tools responsible for Brand Recognition and Customer Interaction. Packaging printing incorporates attractive designs that not only reflect a product but also helps businesses with their brand identity and builds a bond with customers.
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Various printing methods such as flexography, gravure, offset and digital marketing find their application in the packaging field to meet industry needs of quality, efficiency and innovation. Different printing types come with their own benefits; flexography for flexible packaging, gravure for large volumes, offset printing for accurate colours and digital printing is better for short print runs and personalized content at a lower cost. Different inks and printing technology lead to packaging which meets all functional needs along with the aesthetics that every industry wants like food & beverage or pharmaceutical, etc.
Segment Analysis
By Printing Technology
In 2023, the flexography segment dominated the packaging printing market, accounting for more than 30.5% of total market share. It is very versatile, as it can be printed on all types of substrates (plastic, paper and foil). Due to its high speed of operation, cost-effective printing costs and its capability of maintaining the desired colour range as well as quality through high volume runs, flexographic printing is a preferred choice for packaging, about the world. This segment is further fuelled by the need for large-scale printing runs in food and beverage, consumer products, and E-commerce.
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By Application
In 2023, the food and beverage segment dominated the packaging printing market. This growth is due to the rising need for functional, aesthetic and information-based packaging of food products. Packaging in this field becomes a key marketing tool besides protecting the product. It is one of the most regulated industries which require producing highly accurate and compliant labels. This, in turn, fuels demand for sophisticated packaging printing technologies. With increasing demand for sustainable packaging solutions in the food and beverages industry, brands are turning to innovative printing technologies such as digital printing, flexographic printing and offset printing to keep pace with changing consumer preferences towards eco-friendly products.
Key Regional Developments
In 2023, North America region dominated the global packaging printing market, driven by the presence of major manufacturers and high demand from food, beverage, and consumer goods sectors. The U.S. is a key adopter of digital printing technologies for on-demand, customized packaging solutions.
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Asia Pacific is fastest growing region due to rising demand in the pharmaceutical and consumer goods sectors, particularly for regulatory-compliant packaging. Several aspects contribute to this expansion, such as the increasing number of nuclear families, lack of time and convenience with new-age packaging materials. Moreover, regional developments in the advancing population of old age are creating a major change in preferences towards packaging. The other growth driver concern is the increasingly rising demand for packaged nature beverages. With increasing bottled water, alcoholic beverages, soft drinks and canned juices consumption followed by beverage industry-specific packaging needs. All the above factors indicate towards a positive outlook for packaging print market in Asia-Pacific region over the future years.
Recent Developments
Amcor Limited: In April 2023, Amcor launched a new packaging solution featuring 30% recycled content for Huggies Eco Protect diapers, marking a significant step towards sustainable packaging in the diaper sector. The move comes in response to a rising consumer packaged goods trend for environmentally friendly packaging alternatives.
AR Packaging Group AB: In 2023, AR Packaging launched its fully recyclable fibre tray to minimize plastic the plastic in food packaging for advanced protection applications. It is an inventive tray that provides a sustainable alternative to keeping products fresh and protected. The launch is in sync with the growing popularity of recyclable and sustainable packaging materials across various packaging printing market sectors.
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KEY MARKET SEGMENTATION
By Printing Ink
.Aqueous
.UV-Based
.Others
By Packaging Type
.Labels
.Flexible Packaging
.Others
By Printing Technology
.Flexography
.Digital
.Gravure
By Application
.Food & Beverages
.Pharmaceuticals
.Personal Care
.Others
Key Players
.Amcor Limited
.DS Smith Packaging Limited
.AR Packaging Group AB
.Eastman Kodak Co
.Dunmore
.Duncan Printing Group
.Sonoco Products Company
.Graphics Packaging Holding Company
.Mondi Plc
.Avery Dennison
.Graphics Solutions
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