Market Research Future (MRFR) has published on the “Global Lithographic Printing for Packaging Market”.
The lithographic printing for packaging market is estimated to register a CAGR of 4.4% during the forecast period of 2023 to 2032.
MRFR recognizes the following companies as the key players in the global lithographic printing for packaging market - H.P Inc., Toppan Printing Co. Itd., Quad Graphics Inc., Mondi Plc, Kodak Co., Du Pont De Nemours.
The global lithographic printing for packaging market is accounted to register a CAGR of 4.4% during the forecast period and is estimated to reach USD 134.0 Billion by 2032.
Over the forecast period, the demand for lithographic printing for packaging is anticipated to increase due to the rising demand for premium packaging. Moreover, during the projection period, there is likely to be a significant increase in demand for lithographic printing for packaging due to changing customer preferences toward easily accessible product specifications on product labels. Other factors that are anticipated to influence the need for lithographic printing for the packaging market over the projected period include technical advancement, new application areas, and enhanced supply chains.
The global lithographic printing for packaging market has been segmented based material, printing ink and application.
On the basis of material, the market is segmented into Paper & Paperboard and Plastic. The paper & paperboard segment was attributed to holding the largest market share in 2022. The market for lithographic printing is seeing an increase in demand for environmentally friendly packaging materials. Paper and paperboard are materials that can be recycled and are renewable, making them a popular choice for businesses and customers that are concerned about the environment.
On the basis of printing ink, the market is segmented into U.V based, Aqueous and Strikethrough. The aqueous segment was attributed to holding the largest market share in 2022. Over the course of the predicted period, it is estimated that this market segment will grow as a result of the growing demand for aqueous lithographic printing for packaging. Aqueous inks have replaced solvent-based inks as the superior option because they reduce VOC emissions, support improved health and safety standards throughout manufacturing, and encourage long-term sustainability.
Based on application, the global lithographic printing for packaging market has been segmented into Food & Beverages, Cosmetics & Toiletries, Healthcare and Others. The food & beverages segment was expected to hold the largest market share in 2022. Food packaging printing is in greater demand as a result of expanding customer demand for lithographic printing for packaging as a result of changing eating habits and lifestyles. Food packaging materials with lithographic printing are used to inform consumers and advertise items.
The global lithographic printing for packaging market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe lithographic printing for packaging market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The lithographic printing for packaging market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World lithographic printing for packaging market comprises of Middle East, Africa, and Latin America.
The largest market share for lithographic printing for packaging was maintained by the North American regional sector. It has had sustained growth as a result of the demand for high-quality packaging across different industries. The market provides services to several businesses, including those in the food and beverage, pharmaceutical, cosmetic, and consumer products sectors. For their packaging needs, these businesses all rely on lithographic printing.
Moreover, the Europe market has been persistently growing over the forecast period. In several industries, such as pharmaceuticals and food packaging, Europe has tight standards limiting the safety and caliber of packaging. The ability of lithographic printing to meet these regulatory requirements makes it a popular choice.
Additionally, Asia Pacific is anticipated to experience the quickest growth over the forecast period. Because of the region's lithographic printing for packaging sector, and because Asia Pacific nations are producing more packaging and labels with offset technology, the industry will grow faster than expected throughout the anticipated period.
Furthermore, the rest of the world's lithographic printing for packaging market is divided into the Middle East, Africa, and Latin America. Rest of the World is the lithographic printing for packaging market's fastest-growing area and is now undergoing tremendous growth. The demand for creative and appealing lithographic printing for packaging solutions has increased as a result of rising disposable incomes and higher levels of living.
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