Digital Printing Packaging Market worth 42.11 Billion USD by 2026
Added: (Fri Sep 07 2018)
Pressbox (Press Release) -
The "Digital Printing Packaging Market" is expected to witness high growth as a result of the growing demand for suitable printing & increasing demand for digital printing packaging.The digital printing packaging market size will grow from USD 10.14 Billion in 2015 to USD 42.11 Billion by 2026, at an estimated CAGR of 13.9%.
In terms of value, the labels segment of packaging type is accounted for the largest market share and is projected to grow at a higher CAGR during the forecast period. This growth is due to its application in almost all types of packaging variables. Labels are the mostly used packaging type as they display product information, brand identification symbols, and transportation details during shipping.
In 2015, the variable data printing sector of the format segment constituted a larger share in the digital printing packaging market; this is projected to grow at a higher rate during the forecast period due to its ability to produce customized printing without slowing down the process, thus saving printing and labour costs significantly.
Food & beverages is projected to be the fastest-growing segment in the digital printing packaging market during the forecast period, as it requires packaging for storage, handling, and transportation of products.
• Growing Demand for Sustainable Printing
• Increasing Demand for Flexible Packaging
• Cost Effectiveness
• Emerging Economies Offer Significant Growth Opportunities
• Investment in R&D Activities
Market Based on Printing Technology:
• Thermal transfer printing
• Inkjet printing
• Electrophotography & electrostatic printing
• Others (direct thermal printing)
Market Based on Format:
• Full color printing
• Variable data printing
• Large format printing
• Others (print on demand and dimensional printing)
On the basis of end use, the food & beverage sector is projected to grow at a higher rate due to the high demand for food packaging and the growing trend of variable data printing on food packages to communicate the shelf-life, composition, and nutritional value of the product.
Factors such as fluctuations in the prices of raw material have caused an unfavorable impact on the profitability of the printing industry. The global digital printing packaging market is dominated by players such as HP Inc. (U.S.), Xerox Corporation (U.S.), Quad/Graphics Inc., Mondi plc (South Africa), i.e. Du Pont De Nemours and Company (U.S.), and Kodak Co. (U.S.).
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