Digital printing technology allows users to make last minute changes before printing and provides superior print quality compared to traditional printing techniques which are driving the digital printing packaging market..
PORTLAND, Oregon. , June 16, 2022 /PRNewswire/ — Allied Market Research released a report titled “Digital Printing Packaging Market By Packaging Type (Corrugated Packaging, Folding Cartons, Flexible Packaging, Labels), By Printing Technology (Inkjet Printing, Electrophotographic Printing), By Industry End User (Food & Beverages, Pharmaceuticals, Electronics, Personal Care & Cosmetics, Others): Global Opportunities Analysis and Industry Forecast, 2021-2031“. According to the report, the global digital printing packaging industry generated $20.6 billion in 2021, and should generate $49.9 billion by 2031, with a CAGR of 9.1% from 2022 to 2031.
Main determinants of growth
Digital printing technology is an environmentally friendly printing process, allows users to make last minute changes before printing, and provides superior print quality compared to traditional printing techniques. These factors are driving the digital printing packaging market. However, fluctuating raw material prices, high maintenance costs, and lack of skilled operators are limiting the market growth.
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- The outbreak of the Covid-19 pandemic has negatively impacted the global digital printing packaging market, owing to the temporary shutdown of manufacturing activities. This has led to a decline in the production of digitally printed packaging as well as their demand in the market.
- Disruptions in the supply chain have led to difficulties in delivering raw materials on time, thus restraining the growth of the digital printing packaging industry.
- The industries have gradually resumed their regular manufacturing and services at their full-scale capacities, which has helped the digital printing packaging market to recover by the end of 2021.
The Label Segment to Maintain its Leading Status Throughout the Forecast Period
Based on packaging type, the label segment held the highest market share in 2021, accounting for more than two-thirds of the global digital printing packaging market, and is expected to maintain its leading status throughout. the forecast period, due to the heavy use of digital. printing for label printing in the packaging industry. However, the flexible packaging segment is expected to show the highest CAGR of 13.9% from 2022 to 2031, owing to its increasing adaptability across all types of industries for packaging purposes.
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The Food & Beverages segment will maintain its leading position during the forecast period
Based on end-user industry, the food and beverage segment accounted for the largest share in 2021, contributing nearly three-fifths of the global digital printing packaging market, and is expected to maintain its leading position during of the forecast period. This is attributed to the extensive use of digital printing on product packages in the packaging industry.
Asia Pacific maintain dominance by 2031
Based on the region, Asia Pacific held the highest market share by 2021 revenue, accounting for more than a third of the global digital printing packaging market. This is due to the large-scale packaging of consumables, electronics and other manufactured goods. However, the LAMEA region is expected to experience the fastest CAGR of 10.8% from 2022 to 2031. This is attributed to the increase in industrialization and urbanization in the region.
Major Market Players:-
- Xeikon AG
- WS Packing Group Inc.
- Xerox Company
- Mondi PLC
- Eastman Kodak Co.
- Traco Manufacturing, Inc.
- Quad/Graphics Inc.
- Quantum Print and Packaging Ltd.
- HP Inc.
- WS Packing Group, Inc.
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