Market Research Report
Global Packaging Printing Market 2019-2026
|Published by||DataM Intelligence||Product code||776974|
|Published||Content info||130-180 Pages
Delivery time: 1-2 business days
|Global Packaging Printing Market 2019-2026|
|Published: January 1, 2019||Content info: 130-180 Pages||
Global Packaging Printing Market Overview
Packaging is the technology which is used for protecting the products from distribution and storage purpose. Package printing is a type of label which is a graphical, written, and electronic representation on the package. Furthermore, packaging printing is used in different packaging processes such as paper & paperboard, flexible packaging, glass, rigid plastic, metal, and others.
The global packaging printing market was worth USD XX billion in 2017 and is forecasted to reach USD XX billion by 2025, growing at a CAGR of XX% during the forecast period (2018-2025).
Global Packaging Printing Market- Market Dynamics
Technological advancement has played a substantial role in package printing technology. Manufacturers are looking for packaging and printing solutions with high performance and also are focusing on reducing the manufacturing costs. Packaged food, beverage, and personal care product companies are demanding highly competitive, cost-efficient, and visually appealing packaging solutions. Such demands have compelled vendors to use new technologies to innovate their product offerings.
For instance, over the last few years, there has been a shift toward using multilayer packaging solutions rather than simple paper bags. These multilayer packaging solutions are being developed with new materials such as self-venting films, which are used to pack frozen food products, and the food can be steam-cooked within the pack itself. For instance, in February 2018, Mondi has developed an eco-friendly, fully-recyclable plastic laminate for pre-made pouches and FFS roll stock that is perfect for integration into existing recycling schemes.
The biggest challenge for packaging printing technology is mainly a lack of high-level technical education in the field; the limited experience of operators and users on or with the new technologies from the Western world. These factors are expected to hinder the swift flow of the global packaging printing market during the forecast period.
Global Packaging Printing Market- Segmentation Analysis
By printing technology, the global packaging printing market is segmented into flexography, gravure, digital, and others. Of these, digital printing technology dominates the market, owing to increasing demand for different consumer products with the requirement of effective and low-cost printing technology coupled with aesthetic visual graphics. In addition to enhancing the color accuracy and quality of final printed design, digital printing can be an affordable and environmentally-friendly solution.
Also, digital printing requires the use of chemicals and inks, the impact on the environment is significantly reduced because the need for pre-press procedures is eliminated.
The companies are focused on product launch and collaboration to maintain a competitive edge over other players. For instance, in November 2018, Nosco, Inc., a subsidiary of Holden Industries, Inc., announced that it would expand its brand protection portfolio with a new covert security solution utilizing HP Indigo Invisible Inks.
Global Packaging Printing Market - Geographical Analysis
Geographically, the global packaging printing market is segmented into North America, South America, Europe, Asia Pacific, and RoW. Of these, Asia Pacific dominates the market in terms of economic growth and an increase in populations in the Asian region.
Also, the demand for packaging will grow as well, especially in China and India. Though gravure printing is still the dominant technology in the Asia-Pacific packaging printing market, more and more flexo printing machines are slowly being introduced into China and India.
Further, The high number of packaging gravure printers in these countries shows the huge potential for the gravure industry. In India alone, there are approx 500 gravure package printing plants, a significantly higher number than the 350 plants, in total, operating in Europe. In fact, many of the packaging gravure printers in India are not equipped with the modern technology. However, they are now investing in modern technology in order to meet the increasing demands of the growing market. For instance, in September 2018, Turner Labels Inc. has launched digital printing services with an HP Indigo 6900 Digital Press, the newly released narrow-web press driving demanding data applications including 1:1 brand campaigns and security printing.
Global Packaging Printing Market- Competitive Analysis
The global packaging printing market is highly fragmented with presence of several local and international vendors. There is intense competition among market vendors in terms of printing technology. Also, companies are focusing on the product launch in order to expand their geographical presence. For instance, in February 2018, Hp Inc. launched a high-definition digital press for commercial printing.