Digital Printing Packaging Market 2020 Trends, Size, Segment and Industry Growth by Forecast to 2027
Research Reports
Mar 16, 2022
Inkjet & Electrophotography Printing Have Secured New Markets in Labels & Packaging
The Digital Printing Packaging Market is growing at a rapid pace. Rising preference for sustainable, environment-friendly packaging and printing solutions is a major driving force allowing the market to witness an upward trajectory. With the demand for digital printing in packaging expected to remain high during the upcoming period, the market is too projected to witness a substantial rise.
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According to Market Research Future (MRFR), the global digital printing packaging market is projected to register exponential gains by 2027, registering a colossal CAGR during the review period (2020-2027). Environmentally safe, durable, and sustainable digital printing packaging solutions are trending. Other trends boosting the market rise include changing consumer lifestyles, rapid urbanization, and economic growth worldwide.
Additionally, rising investments in product development and stronger government support are anticipated to accelerate market revenues. Increased government initiatives to foster the adoption of environmentally sustainable products would present substantial opportunities for the market players. On the other hand, volatility in raw material prices and supply are major factors expected to restrict market growth.
COVID-19 Impact
The impact of the COVID-19 pandemic on the digital printing packaging industry was swift & positive. The pandemic impacted the market positively, which is projected to remain with changes to both supply and demand. On the one hand, where the pandemic boosted the demand for various healthcare products, social distancing mandates, on the other hand, promoted online shopping.
Resultantly, the digital printing packaging market revenues remained robust throughout 2020. Industry players supported the ecommerce sector’s business needs by offering cost-effective solutions that make their operations more sustainable, productive, and convenient. The market is likely to demonstrate robust growth opportunities in 2021 and beyond, witnessing a steadily increasing demand.
Spurring rise in the packaging of pharmaceutical products and medical supplies would favor the market revenues. Besides, augmenting demand for glass vials to produce, store, and distribute COVID-19 vaccines would substantiate the size of the digital printing packaging. Additionally, government initiatives to scale the production, packaging, distribution, and administration of the vaccine are expected to foster market value.
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Segmentation
The market is segmented into packaging types, technologies, applications, end-users, and regions. The packaging type segment is sub-segmented into labels, flexible packaging, and others. The technology segment is sub-segmented into inkjet, electro-photography, and others. The application segment is sub-segmented into boxes, cans, bottles, and others.
The end-user segment is sub-segmented into food & beverages, household & cosmetic products, pharmaceuticals & healthcare, and others (automotive and electronic industry, among others). The regional segment is sub-segmented into Europe, Americas, Asia Pacific, and rest-of-the-world.
Regional Analysis
The Asia Pacific region accounts for the most significant digital printing packaging market share. The increase in the food & beverage and cosmetic industry boost the region’s digital printing packaging market size. Besides, the spurring rise in retail sectors across the region substantiates the digital printing packaging market growth. The region is witnessing increased investments in research, development, and innovations.
Other factors that bolster the digital printing packaging market value are increased employment in the region, flexible development policies by the governments, and substantial investments. Also, rising disposable incomes and changing lifestyles and consumer preferences are some of the trends encouraging market revenues. Additionally, rising consumption and growth in the pharmaceutical sector in this region foster market growth.
Competitive Analysis
The digital printing packaging market is witnessing several strategic approaches, such as collaborations, mergers & acquisitions, expansions, and product/technology launches. Technology providers make significant investments to drive research & development activities and expansion plans. With the rising consumer demand for printing packaging, manufacturers look for new ways to bring innovative solutions to customers.
For instance, recently, on Sep.03, 2021, DuPont Artistri business, a leading developer &provider of digital printing solutions, launched a digital ink for flexible packaging. DuPont’s Artistri inkjet inks can be used in the home and office printers range, extending to industry segments and applications ranging from textile printing, commercial, and packaging printing to packaging films.
Key players involved in the market are Weber Packaging Solutions Inc. (US), W S Packaging Group, Inc. (US), Xerox Corporation (US), Hewlett-Packard Inc. (US), Xeikon N.V. (Netherlands), Mondi Group (South Africa), Quad Graphics, Inc. (US), EI du Pont de Nemours and Company (US), Labels in Motion (US), and Reel Appeal Limited (UK), among others.
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