Packaging Printing Market is projected to be worth USD 473.81 billion by 2027, registering a CAGR of 4.70% during the forecast period (2021 - 2027), the market was valued at USD 357.3 billion in 2020.
Packaging printing technology is utilized for enclosing, protecting the products for distribution, storage, sales, and usage. Though the primary reason for the packaging s to store the products, the packaging printing technology acts as product and brand promotion and aids in creating a strong relationship with the consumers. With the increasing innovations in the field and novel methods in presenting the product to the consumer, Packaging Printing Market has been witnessing tremendous growth in the past few decades.
The Packaging Printing Market has utilized different technologies to attract the end-use industries and consumers by meeting their needs. Digital printing is becoming the primary focus in several Packaging Printing industries because of its production rate with lesser time and energy consumption. Technologies are also utilized for factors like waste reduction, source reduction, reuse packaging, recycling, energy recovery, disposal, and sustainability. Owing to the increasing market value, several players are showing interest in the growth of the Packaging Printing Market.
COVID 19 Analysis:
The global Packaging Printing Market is expected to witness a slight decrease as the government of several countries have imposed stringent regulations due to pandemics. Packaging of the Chemical industry, Automotive, luxury goods has been affected due to the pandemic. This has significantly affected the market in these segments. However, the essential services are allowed to operate to support during the crisis. Hence the packaging of food and beverage, medical aids are permitted to support during the crisis.
The lockdown has created panic among consumers across the globe. People have started to stock their pantries due to the fear of lockdown. People have also started to increase ordering online which has increased the demand for Packaging Printing Market.
Due to increased awareness regarding health and preventive health care, consumers look for authenticity in the products they consume. Due to this attitude of consumers, Packaging Printing solutions that determine the authenticity of the products have grown in demand.
The advent of technologies in the industries has increased production with minimal energy and time. A Company has launched its new plant to serve its diversified clients ranging from FMCA, lubricants, paints, and others. With the help of extrusion blow molding technology, the company was able to drive the production in varied applications including plastic containers, shampoo bottles, toilets, and surface cleaners. Such techniques have increased the market value.
Key players in the Packaging Printing Market have utilized strategies like providing different variants along with their regular production. Specialized packaging, custom designs for the festive season, graphical images, artistic labels have helped in promoting the growth rate of the Packaging Printing Market.
Increasing per capita income and increasing demand for innovative packaging and the comfort that it offers have created a huge impact among consumers. In addition to that, the economical development in some countries has also aided the growth of the Packaging Printing Market.
The emergence of smart packaging and smart labels has provoked consumers in purchasing the products. The smart labels and packaging offer the consumers key information regarding the product, which can be viewed with the help of computers or smartphones. This has increased the product value. Such innovations have been considered as opportunities by the manufacturers.
The advent of digital printing has increased the overall sales of the Packaging Printing Market. Unlike other printing techniques, digital printing doesn’t require additional plates for each print run. All the colors can be printed in a single pass, this amazing g feature enables the printers to increase production with minimal cost and time. Experts in the industry consider the Packaging Printing Market would increase in demand with the help of digital printing technology. They have also estimated the digital printing market growth to reach USD 28 billion by 2024.
Some regulations followed by the packaging printing industries with the right intention of counterfeit prevention, child resistance, tamper resistance might end up the packaging non-functional. Consumers might find it difficult to open the packaging. Such factors might change the attitude of the consumer and might decrease the value of the product.
Packaging printing is not suitable for heavier items and it remained a challenge for the Packaging Printing industry. In addition to that, higher capital investment is required to establish a manufacturing and printing industry.
Printing technologies like offset printing, flexographic press, rotogravure press require a higher amount of investment. Raw materials, energy spent, printing inks also pose a sizeable amount of capital on the Packaging Printing industry.
Some products, especially the food industry include detailed regulatory requirements to pass through. The package materials utilized in such cases are expected to be approved by toxicologists, food scientists. Also, food engineers verify the materials utilized for the packaging in terms of their capabilities in retaining the shelf life of the food and impact. The regulations imposed on the Packaging Printing Market are considered a challenge.
Brand theft is considered the most prominent challenge for several organizations. As the technologies have brought numerous ways in duplicating the product in packaging, labeling, consumers and product manufacturers are seriously affected.
Cumulative growth analysis:
The packaging Printing Market is highly influenced by the packaging and labeling industries. The packaging industry is experiencing strong growth in recent years due to the significant rise in demand for packaged foods and beverages in, FMCG sector. Though the packaging sector had to go through several considerations like sustainability, environmental consideration, recycling regulations, the growth in the technologies has stimulated the growth in the packaging industry. This factor has helped the growth of the Packaging Printing Market.
Packaging Printing Market is projected to be worth USD 473.81 billion by 2027, registering a CAGR of 4.70% during the forecast period (2021 - 2027), the market was valued at USD 357.3 billion in 2020. The packaging industry has adopted numerous technological advancements in recent times which has reduced production costs significantly. Customers are more likely to purchase a product for its convenient and aesthetically pleasing packaging. The brand owners also follow aggressive strategies in increasing sales with the help of brand promotion through packaging and labels. Based on the packaging material, the plastics segment has been dominating in recent years with USD 16477.23 million in the year 2020. Such factors have enhanced the Packaging Printing Market value.
Value chain analysis:
The market value of the Packaging Printing industry revolves around other industries like the varied packaging industry, food and beverage industry, pharmaceutical industry, FMCG sector, and so on. As the countries have adopted packing techniques like flexible packaging, rigid packaging, consumers have shown an increased growth rate in the various segments.
The rigid packaging that offers higher impact strength and barrier properties has increased the value of the food products and thus increased the Packaging Printing Market value. The rigid packaging is expected to grow with a CAGR of 3.56% in the forecast period. The increased consumption of packaged foods and beverages has increased the growth rate in the food and beverage industry. The food and beverage industry holds the dominant market share of USD 22526.62 million in 2020. Such factors have stimulated the Packaging Printing Market value.
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Northern America holds the largest share in the market, the demand for the pouches, shrinks sleeves, quality packaging materials, brand protection, sustainability, and several other factors have driven the market in recent times. Gravure printing is widely being used in Asia-pacific. However slow emergence of flex printing machines is also noticed in the countries like China and India. India consists of over 500 gravure packaging plants which are higher than that of Europe.
Indian market players are expected to invest in modern technology in the upcoming years to promote the Packaging Printing Market growth. On other hand, In China, the food and beverage industries and health care industries are witnessing rapid growth in recent years, this has also affected the Packaging Printing Market growth positively.
Companies across the globe have adopted aggressive strategies like new product launches and acquisitions to cope with the increasing demand in emerging markets.
The packaging Printing Market aims to attract consumers with the help of technologies and designs, the primary reason for the Packaging Printing industry is to retain their consumers. Light-emitting packaging has been introduced in recent years to draw customers' attention. The special inks, printed over on another have brought the light-emitting effect to the packaging.
The digital pre-print technology enables the package designer to modify as simple as modifying a computer file. The technology does not require additional expensive plates in the process. The feature is extremely helpful in cutting off the production costs to execute a seasonal strategy.
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|Market Size||2027: USD 473.81 billion|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Printing Technology, Application|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||AR Packaging Group AB, Amcor Limited, Belmont Packaging, Canon, Inc., DS Smith Packaging Limited, Duncan Printing Group, Dunmore, E.I. Du Pont Nemours and Company, Eastman Kodak Co., Edelmann Packaging México S.A. De C.V., Xeikon N.V., and Xerox Corporation|
|Key Market Opportunities||Rise in manufacturing activities|
|Key Market Drivers||Growing demand from the packaged and branded products|
Frequently Asked Questions (FAQ) :
Packaging Printing market is predicted to grow at 4.70% through forecast period of 2020-2027.
The forecast period for Packaging Printing market research report is 2020-2027.
Global Packaging Printing Market is dominated by Northern America region.
With the increasing innovations in the field and novel methods in presenting the product to the consumer, Packaging Printing Market has been witnessing tremendous growth in the past few decades.