Commercial Printing Market 2020 - Global Industry Analysis, Growth Forecast & Emerging Trends To 2025
Technological advancements and innovations in packaging techniques are the major factors that are propelling the commercial printing market growth. With the introduction of new packaging solutions, such as flexible and sustainable packaging, printing technologies are improving considerably. Manufacturers in the market are continuously engaged in developing eco-friendly solutions that can reduce the environmental impact of business operations. For instance, Kornit Digital is offering water-based NeoPigment inks specifically developed for the textile industry that are free from hazardous and toxic chemicals, making them eco-friendly printing solutions. Similarly, in March 2018, ColorJet showcased its innovative green UV digital printing technologies Verve Hybrid and Vulcan developed for signage business.
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The commercial printing market is witnessing high growth due to the increased application of solutions for advertising. The increasing competition among businesses has resulted in high investment in promotional events to attract a large customer base. The companies are catering their solutions & services to untapped markets with the help of sales promotions and advertisements, propelling the market growth. For instance, in April 2019, Unilever PLC, an FMCG company based in the UK, introduced a creative print advertisement for its food product Marmite. This advertising strategy has gained a positive response from customers and improved the brand identity for Marmite.
Commercial Printing Market, By Type
• Offset lithography
• LED UV
Commercial Printing Market, By Application
• Wide format graphics
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The growing usage of digital printing techniques in a wide range of industrial sectors, such as food & beverage, entertainment & media, and personal care, is expected to augment the commercial printing market. Digital printing is highly cost-effective for large-scale printing applications, encouraging businesses to shift toward this modern technique. It allows companies to provide digital and high-quality content to be printed on industrial products. Printing companies are focused on innovating in the digital segment to provide efficient printing solutions.
The Europe commercial printing market is anticipated to grow over the forecast timespan owing to the increase in partnerships & collaborations among the printing companies for improving printing techniques across several industries such as food & beverage and fast-moving consumer goods (FMCG). For instance, in 2016, a Switzerland-based food packaging and processing company, Tetra Laval S.A, announced its collaboration with a German printing technology company, Koenig & Bauer AG, to manufacture full-colored digital printing beverage package. These digitally printed packages are expected to be released in early 2020 across North America.
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