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A08308 | Pages: 240 | Charts: 59 | Tables: 146 |
The global digital printing packaging market size was valued at $20.6 billion in 2021, and is projected to reach $49.9 billion by 2031, growing at a CAGR of 9.1% from 2022 to 2031. In comparison to traditional printing, digital printing is a more advanced technique. Flexo and litho processes are examples of traditional printing technology. In contrast to traditional printing, digital printing does not require the replacement of printing plates. As a result, it has a greater printing efficiency and lower machine cost. Digital printing is done with the help of computer equipped with software and printing machine.
Digital printing produces higher-quality prints than traditional printing. To print all of the colors, only one pass is necessary. Changes may be made even at the last minute before printing thanks to digital printing technology. Because there is no need for water, photo chemicals, or pre-press processes, digital printing packaging is considered an environmentally sustainable printing procedure. There is high demand for digital printing packaging market from various industries such as cosmetics, pharmaceuticals, food & beverage, and electrical & electronics.
Printing on the packaging of the product is an important factor for any company as it attracts more customers to buy their products. The information on the packaging must be clearly visible to the customer so that he can get the correct information about the product. As digital printing technology offers good quality printing on packaging, it is widely used across industries. Many manufacturers use detailed labeling, various packaging technique, recyclable material, and different colors for advertisement of their product. If the quality of packaging is premium, then it indicates that the product must be of high standards, which is very important to create and maintain the brand image.
Factors such as variation in the prices of raw material have caused a negative impact on the profitability of the printing industry. And high maintenance cost and requirement of skilled operator are the restraining factors for digital printing packaging market growth.
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Furthermore, during the outbreak of the COVID-19 pandemic, construction, manufacturing, hotel, and tourism industries were majorly affected. Manufacturing activities were halted or restricted. Construction and transportation activities, along with their supply chains, were hampered on a global level. This led to decline in manufacturing of digital printing packaging as well as their demand in the market, thereby restraining the growth of the digital printing packaging industry. Conversely, industries are gradually resuming their regular manufacturing and services. This is lead to re-initiation of digital printing packaging companies at their full-scale capacities, which helped the digital printing packaging market to recover by end of 2021.
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Digital printers provide printing with more efficiency and also give better quality printing compared to the conventional printing method. Therefore, the demand for digital printing packaging is expected to rise during the forecast period. Further, the low operating cost of digital printing attracts many customers, which will drive the digital printing packaging market share.
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The digital printing packaging market is segmented into Packaging Type, Printing Technology and By End-User Industry. By printing inks, the market is divided into UV-based inks, solvent-based inks, and dye sublimation inks. By printing technology, the market is segmented into inkjet printing, electro photography, magnetography and thermal printing. By packaging type, the market is segmented as folding cartons, corrugated, labels, flexible packaging, and others. By end user, the market is divided into food & beverages, automotive, pharmaceutical, and others. Region wise, the global digital printing packaging market forecast analysis is conducted across North America (the U.S., Canada, and Mexico), Europe (the UK, France, Germany, Italy, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
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On the basis of packaging type, in 2021, the labels segment dominated the digital printing packaging market, in terms of revenue, whereas the flexible packaging segment is expected to witness growth at the highest CAGR during the forecast period. As per printing technology, in 2021, the inkjet printing segment led the market, and is expected to exhibit highest CAGR in the near future. By end-user industry, the food & beverage segment led the market in 2021, in terms of revenue; however, the others segment is anticipated to register highest CAGR during the forecast period. Region wise, Asia-Pacific garnered the highest revenue in 2021; however, LAMEA is anticipated to register highest CAGR during the forecast period.
The major players profiled in the market include DuPont, Eastman Kodak Company, HP Development Company, L.P., Mondi PLC, Multi-Color Corporation (WS Packaging Group Inc), Quad/Graphics Inc., Quantum Print and Packaging Ltd., Traco Manufacturing, Inc., Xeikon N.V. and Xerox Corporation.Major companies in the market have adopted product launch and acquisition as their key developmental strategies to offer better products and services to customers in the digital printing packaging market.
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the digital printing packaging market analysis from 2021 to 2031 to identify the prevailing digital printing packaging market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Key Market Segments
Key Market Players