Digital Printing Packaging Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Ink Type (Solvent-based, UV-based, Aqueous, and Others), Packaging Type (Corrugated, Folding Cartons, Flexible Packaging, Labels, and Others), and End-Use Industry

The scope of our recent study titled ""Digital Printing Packaging Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Ink Type (Solvent-based, UV-based, Aqueous, and Others), Packaging Type (Corrugated, Folding Cartons, Flexible Packaging, Labels, and Others), and End-Use Industry (Food and Beverage, Pharmaceuticals, Personal Care and Cosmetics, and Others)"" includes the description of factors fueling the market growth, estimation and forecast of revenue, and identification of significant market players and their key developments. The report also provides a market share analysis.

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The digital printing packaging market is projected to reach US$ 32,255.60 million by 2028 from US$ 19,131.13 million in 2022. It is expected to grow at a CAGR of 9.1% from 2022 to 2028.

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Digital printing is superior to traditional printing methods. Flexo and litho processes are examples of traditional printing methods. Digital printing, unlike traditional printing, does not require the replacement of printing plates. Digital printing is done with the help of a computer equipped with software and a printing machine. As a result, printing efficiency is high while equipment costs are low.

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Based on ink type, the digital printing packaging market is segmented into solvent-based, UV-based, aqueous, and others. The solvent-based segment held the largest share in the digital printing packaging market in 2020 and the aqueous segment is projected to register the fastest CAGR during the forecast period. The growth of the food and beverage sector is a major driving factor for the solvent-based segment digital printing packaging is considered an environmentally sustainable printing procedure.

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Moreover, in comparison to traditional printing, digital printing generates high prints. With just one pass, prints of all shades can be generated. Digital printing technology allows users to make modifications until the moment of printing. As there is no need for water, photo chemicals, or pre-press processes, digital printing packaging is considered an environmentally sustainable printing procedure. Cosmetics, pharmaceuticals, food and beverage, electrical & electronics, and other industries strongly need digital printing for packaging.

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The digital printing packaging market is segmented into five main regions: North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South & Central America (SAM). Asia Pacific held the largest share in the digital printing packaging market in 2020, and Europe is expected to register the fastest CAGR during the forecast period. Australia, China, India, Japan, and South Korea are the key contributors to this region's digital printing packaging market. China, Japan, and India are the major consumers in the digital printing packaging market due to the high demand for food and beverage products in these countries.

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The soaring demand for food packaging and high emphasis on packaged foods labels that share information about the product's storage life, composition, and nutritional content of products are the major reasons boosting the digital printing market in Asia Pacific. In 2021, the Prepared Foodstuffs Product Working Group (PFPWG) of the Association of Southeast Asian Nations (ASEAN) issued guidelines for the control systems for food contact materials (FCM), including materials for active and intelligent packaging within the ASEAN member countries. Such regulations are expected to boost the demand for digital printing packaging in Asia Pacific countries. Furthermore, according to the International Finance Corporation (IFC), a member of the World Bank Group, e-commerce in Southeast Asia tripled in size between 2015 and 2020, growing to a value of US$ 105 billion. Similar trends could lead to another triple value, i.e., US$ 309 billion, by 2025. Therefore, the growth of the e-commerce industry is expected to boost the digital printing packaging market expansion.

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Impact of COVID-19 Pandemic on Digital Printing Packaging Market

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North America is one of the worst-affected regions due to the COVID-19 pandemic. The US recorded the highest number of COVID-19 confirmed cases than Mexico and Canada. The unprecedented rise in the number of COVID-19 cases across the region and the subsequent lockdown of numerous manufacturing facilities negatively influenced the growth of the digital printing packaging market. Due to COVID-19 pandemic, there will In addition, the overall disruptions in manufacturing processes, research, and development activities restrained the growth of the digital printing packaging market.

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Although the pandemic severely impacted food & beverage and personal care industry, a significant demand for pharmaceutical products was witnessed, which subsequently bolstered the demand for digital printing packaging in the region.

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1.1.1 Digital Printing Packaging Market Breakdown - by Region

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The report segments the digital printing packaging market as follows:

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Based on ink type, the digital printing packaging market is segmented into solvent-based, UV-based, aqueous, and others. Based on packaging type, the market is segmented into corrugated, folding cartons, flexible packaging, labels, and others. Based on end-use industry, the digital printing packaging market is segmented into food and beverages, pharmaceuticals, personal care and cosmetics, and others. Based on geography, the digital printing packaging market is segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America (SAM).

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Thinking Caps Market Reports
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