Market Synopsis
The Digital Printing Packaging Market Size was valued at USD 22.09 billion in 2021. The Digital Printing Packaging Market industry is projected to grow from USD 24.19 Billion in 2022 to USD 50 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 9.5% during the forecast period (2022–2030). Increasing demand from the food beverages and personal care industries is driving the market growth.
The digital printing packaging market is a rapidly growing sector with numerous advantages. Due to the general versatility in production and the faster marketing timing, the Digital Printing Packaging Market Trends are also increasing in importance and development. While organizations’ primary goal in the digital printing packaging industry is to guarantee that items are delivered on time, packaging companies also rely on digital printing solutions.
Market Competitive Landscape:
The central contenders in the digital printing packaging market are:
- Dainippon Screen Graphics
- Landa Digital Printing
- EC Labels
- Graphix Labels and Packaging
- Hymmen
- Edwards Label
- Krones
- INX International
- Barberan
- Heidelberg USA
- Hinterkopf
- CCL Healthcare
- Cyan Tec
- WS Packaging Group
- HP
- Mondi
- E. I. Du Pont de Nemours Co
- Xerox
- Quad/Graphics
- Sun Automation
- Cenveo
- Mark Andy
- Quantum Print and Packaging
- Minolta
- Traco Manufacturing
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Market Drivers:
Several factors have fueled the development of the digital printing packaging market. To begin with, the rapid growth of product presentability across various brands has stimulated the growth of digital printing in the packaging sector. While the appearance of a product has a significant influence on purchasers, the digital printing for packaging business has found a new path to success. Furthermore, the increased need for flexible packaging is expected to boost the forward digital printing for the packaging market. The cost-efficiency of digital printing for packaging is also anticipated to buffer the market’s expansion. Variations in raw material costs, on the other hand, are expected to thwart the development of digital printing for the packaging market over the forecast period.
Digital printing is increasingly becoming the next go-to innovation due to its multiple benefits. As a result of enhanced production flexibility, shorter marketing timeframes, and increased personalization, it is becoming increasingly profitable. To ensure timely delivery of goods, packing companies rely heavily on digital printing technology to save packaging time. In digitally printed packaging, virtual and smart labeling solutions are becoming increasingly popular.
Market Restraints:
Fluctuating raw material prices hamper the packaging industry’s digital printing. This considerably reduces demand growth. These price variations, mainly attributable to altering oil prices, which are the cornerstone of the industry’s raw materials, have stifled the market’s growth.
COVID 19 Analysis
COVID-19 has wreaked havoc on people’s lives and businesses alike. While there is no need to worry about the loss or the company’s future activities, it is vital to take the steps necessary to restore work efficiency. However, companies such as Geostick Group, a prominent label printer in Europe and a digital label printing pioneer, have agreed to buy a Bobst Digital Master 340 label press, a wholly digitalized and automated manufacturer that includes everything from printing to decoration and die-cutting. The partnership is part of Geostick’s larger effort to improve its digital printing capabilities, spearheaded by its new Digital Printing Center in Uithoorn, the Netherlands. Bobst’s All-in-One, All-Inline portfolio now includes the new Digital Master 340. The seamless native integration between the UV inkjet digital engine, the flexo, and the converting modules allows printing, decoration, and cutting in a single pass.
Market Segmentation
By Technology
The inkjet segment is appraised to hold a significant market chunk in the forecast period.
By Packaging Type
The labels segment is estimated to gain traction in the forthcoming period.
By Application
The Boxes segment is set to capture a majority share in the forthcoming period.
By End-User
The food and beverage segment will have a significant competitive edge in the worldwide market. The food industry will be the first to use digitally printed packaging. Revenues from adoption in the beverage, pharmaceutical, personal care, and cosmetics industries, on the other hand, will grow at a quicker rate.
Regional Insights
Due to rising demand from different application areas, Asia-Pacific held the highest share of the worldwide digital printing packaging Growth Projections. Owing to increasing demand from the food and beverage industry, China, India, and Japan are the top three consumers. This is due to the strong demand for food packaging and the growing emphasis on packaged items sharing information about their storage period, makeup, and nutritional content. Packaging products such as foldable cartons, corrugated paper, and flexible packaging have seen fast growth throughout Europe. In addition, advances in metal printing have driven regional expansion. Packaging sectors such as corrugated paper, foldable cartons, and flexible packaging have seen fast growth throughout Europe. In addition, advances in metal printing have driven regional expansion. Leading firms in the digital printing for packaging sector in the United Kingdom and Germany grow their networks. Due to the high popularity of electrophotography and electrostatic printing and their capacity to produce photographs of flawless quality with remarkable durability to varied environmental conditions, the Middle East and Latin America are expected to see continuous expansion in the market.
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