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The Digital Printing Market for Packaging size is estimated to grow at a CAGR of 8.92% between 2022 and 2027. The market size is forecast to increase by USD 12.02 billion. The growth of the market depends on several factors such as the growing consumption of packaged beverages globally, the environmental benefits of digital printing, and the benefits of variable data printing.
This Digital Printing Market for Packaging report extensively covers market segmentation by technology (inkjet printing and electrophotography printing), type (labels, flexible packaging, corrugated and folding cartons, and other packaging types), and geography (APAC, North America, Europe, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
One of the key factors driving the digital printing market for packaging growth is the growing consumption of packaged beverages globally. There is a growing consumption of packaged milk and dairy-based beverages across the world. As a result of this increasing consumption, it is fuelling the demand for digital printing for packaging. There is an increasing adoption of digital printing when compared to analog printing as digital printing can deliver unlimited product information on beverage packaging.
Moreover, the main purpose of digital or smart labels on beverages and other products is to enable end-users to access information about beverage products using the web and mobile applications. There is rising adoption of digital printing in packaging applications by several manufacturers to communicate details about their products more effectively to consumers. Hence, such factors are positively impacting the market which in turn will drive the market growth during the forecast period.
A key factor shaping the digital printing market for packaging growth is the rising demand from consumer goods manufacturers. There is an increasing demand for products in varying weights/types of packaging (100 grams, 250 grams, and 500 grams) by end-users in the consumer goods industry. Therefore, it has led to an increase in the types of packaging, and manufacturers of consumer goods are recording proliferation in SKUs. Thus, the increasing SKU proliferation will result in an increasing need for customization in printing, with a short lead time.
Moreover, it is essential to have a shorter lead time for these products to hit the market due to the risk of inventory shortages at both the consumer goods manufacturer and retailer ends. Therefore, it is expected to increase the demand for digital printing for packaging as it can offer individual custom printing in a short duration with high efficiency. Hence, such factors are positively impacting the market which in turn will drive the market growth during the forecast period.
The high price of printing ink materials is one of the key challenges hindering the digital printing market for packaging growth. There is an increasing adoption of low-priced ink digital printers across small-scale industries. One of the main reasons for this increasing adoption is that these end-users need to invest in ink regularly, which may increase their operational costs. In addition, several market players in the global Digital Printing for Packaging Market are manufacturing their own printing inks.
Moreover, the high cost of chemicals used in the manufacturing of printing inks forces these market players to increase the maximum retail price (MRP) of printing inks to minimize their manufacturing costs. For instance, in March 2021, Clariant, a specialty chemical company, announced global price increases across its product portfolio. Hence, such factors are negatively impacting the market which in turn will hinder the market growth during the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Digital Printing Market for Packaging Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
colordruck Baiersbronn: The company offers digital print for packaging such as digital pre-press, printing, punching and gluing, as well as individual logistics.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The inkjet printing segment is estimated to witness significant growth during the forecast period. In this segment, the printed /image takes the form of small ink droplets that are driven from the nozzles contained in one or more print heads. One of the main end-users of the inkjet printing segment is the food and beverage industry. There is an increasing focus by prominent market players in the food and beverage industry on packaging as it is a key tool for boosting sales.
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The inkjet printing segment was the largest segment and was valued at USD 9.62 billion in 2017. As a result, it is expected to fuel the requirements for digital printing technologies such as inkjet printing for packaging. The main advantage of this segment is that it enables custom-design printing of packaging for sales displays. Additionally, there is a significant growth in the inkjet segment as the inkjet technique acts as an efficient solution for small-run sizes. Some of the main industries where there is an increasing adoption of this segment include raft beverages, consumer durables, and the cottage food industry. Furthermore, the main advantage of the inkjet printing technique is that it offers numerous advantages such as short delivery time, high print quality, and less packaging obsolescence. In addition, this segment can print on almost any surface, including glossy photo paper, textured stationery, and even some fabrics. Hence, such advantages are expected to drive the growth of this segment which in turn will drive the market growth during the forecast period.
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APAC is estimated to contribute 33% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. One of the main factors that is significantly contributing to the growth of the Digital Printing for Packaging Market in APAC is the rapid growth in the e-commerce and retail industries in the region. The leading revenue generator for the digital printing market in APAC is the e-commerce industry in China.
Additionally, several market players in the global Digital Printing Market for Packaging are partnering with the e-commerce industry due to its significant growth. As a result, it is significantly fuelling the popularity of the use of digital printing in the country. For example, in October 2021, Youngshin P and L acquired the first flexo press from Nilpeter FA-17. Some of the key advantages of FA-Line stability, tight register tolerances, and excellent printing results on multiple substrates, such as flexible packaging films, polymer films, metallic films, and paper. Hence, such factors are expected to drive the market growth in APAC during the forecast period.
In 2020, during the COVID-19 pandemic, the growth of the global Digital Printing Market for Packaging witnessed a significant slowdown due to the temporary closure of manufacturing units in APAC. However, in 2021, the initiation of large-scale vaccination drives lifted the lockdown and travel restrictions, which led to the restoration of operations in manufacturing units. Such factors are expected to drive the market during the forecast period.
The Digital Printing Market for Packaging report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
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Digital Printing Market for Packaging Scope |
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Report Coverage |
Details |
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Page number |
157 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 8.92% |
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Market growth 2023-2027 |
USD 12.02 billion |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
8.46 |
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Regional analysis |
APAC, North America, Europe, South America, and the Middle East and Africa |
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Performing market contribution |
APAC at 33% |
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Key countries |
US, China, Japan, UK, and Germany |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
CCL Industries Inc., colordruck Baiersbronn, DS Smith Plc, DuPont de Nemours Inc., Eastman Kodak Co., Elanders AB, Flint Group, HP Inc., Landa Corp. Ltd., Mondi Plc, Multi Color Corp., Packman Packaging Pvt. Ltd., Printpack Inc., Quad Graphics Inc., Quantum Print and Packaging Ltd., Smurfit Kappa Group, Tetra Laval SA, THIMM Group GmbH plus Co. KG, Traco Manufacturing, and Xerox Holdings Corp. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Technology
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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