Digital Printing Packaging Market Expected to Reach $49.9 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Digital Printing Packaging Market," The digital printing packaging market size was valued at $20.6 billion in 2021, and is estimated to reach $49.9 billion by 2031, growing at a CAGR of 9.1% from 2022 to 2031. Digital printing is an improved technique compared to traditional printing techniques. Traditional printing techniques include flexo and litho process techniques. Unlike traditional printing techniques, digital printing techniques do not require replacement of printing plates. Therefore, printing efficiency is high and machine cost is reduced.

The prints on the product packaging is an important factor for any business as it attracts more customers to buy its products. The information on the packaging must be clearly visible to the customer so that they get the correct product information. Since digital printing technology gives good printing quality on packaging, it is widely used in all industries. Many manufacturers use detailed labels, different packaging techniques, recyclable materials and different colors to advertise their products. If the quality of the packaging is premium, it indicates that the product must be of high quality, which is very important in creating and maintaining a brand image.

Digital printing offers superior print quality compared to traditional printing techniques. Only one pass is required to print all colors. Digital printing technology allows users to make last-minute changes before printing. Digitally printed packages are considered an environmentally friendly printing process as they do not require water, photographic chemicals, or prepress. Demand for digital packaging for packaging is increasing in various industries such as cosmetics, pharmaceuticals, food / beverage, electrical / electronic, etc. These factors are driving the digital printing packagingmarket.

Variations in raw material costs have had a negative influence on the printing industry's profitability. High maintenance costs and the need for a competent operator are some limiting factors in the growth of the digital printing packaging industry.

In addition, the outbreak of COVID-19 has led to halt in logistic and manufacturing activities across the globe, which, in turn, has led to interruption of supply chain, thereby hindering the digital printing packaging market growth. However, this situation is expected to improve as government is relaxing norms around the world for resuming business activities.

When compared to traditional printing methods, digital printers are more efficient and deliver superior printing quality. As a result, throughout the projected period, demand for digital printing packaging is predicted to grow. Furthermore, the cheap operational cost of digital printing attracts a large number of clients, driving the digital printing packaging market.

The digital printing packaging market is segmented on the basis of packaging type, printing technology, end-use industry, and region. By packaging type, the market is divided into corrugated packaging, folding cartons, flexible packaging and labels. By printing technology, the market is segmented into inkjet printing and electrophotography printing. By end-use industry, the market is segmented into food & beverage, pharmaceuticals, electronics, personal care & cosmetics and others. By region, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, Italy, Spain, and rest of Europe), Asia-Pacific (China, Japan, South Korea, India, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).

COMPETITION ANALYSIS

The major players profiled in the digital printing packaging 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. 

 KEY FINDINGS OF THE STUDY

•        The report provides an extensive analysis of the current and emerging global digital printing packaging market trends and dynamics. 

•        Depending on packaging type, the earthmoving equipment segment was the largest revenue generator in 2021.

•        By printing technology, the printing technology segment generated the highest revenue in 2021.

•        By end-use industry, the excavation & demolition segment dominated the market in 2021.

•        Region wise, North America is anticipated to dominate the global digital printing packaging market share throughout the forecast period.

•        The report provides an extensive analysis of the global digital printing packaging market analysis and emerging opportunities of the market. 

•        The global digital printing packaging market forecast analysis from 2022 to 2031 is included in the report.