Unveiling Opportunities and Challenges: Research and Development Drive and Raw Material Costs Shape the Future of Digital Printing Packaging Market

The Digital Printing Packaging Market is experiencing a robust surge, projected to be valued at US$ 18,666.50 million in 2023, with an anticipated Compound Annual Growth Rate (CAGR) of 5.1%. Forecasts indicate that by 2033, the market will reach an impressive valuation of US$ 30,696.45 million. This growth is primarily attributed to the escalating demand for flexible packaging solutions, where digital printing outperforms traditional methods by delivering higher-quality prints in a single pass. The flexibility of digital printing allows for last-minute changes and eliminates the need for water, chemicals, and pre-press processes, rendering it an environmentally sustainable option.

Industries such as cosmetics, pharmaceuticals, food & beverage, and electrical & electronics are driving the demand for digital printing packaging. While increased research and development funding in developed countries presents growth opportunities, fluctuations in raw material costs pose potential challenges to the market's expansion. Overall, the Digital Printing Packaging Market is poised to redefine packaging standards, balancing innovation, quality, and sustainability.

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Key Drivers

According to the report, the key factors fuelling demand for digital printing in packaging include a growing preference for conventional/analogue plates and their application in printing jobs of shorter run lengths.

The adoption of digital printing in packaging is also growing on account of its convenience over conventional presses. Digital printing allows packaging companies to reduce turnaround time, and this is a prime reason for fuelling demand for digital printing.

Shifting preference from conventional printing to variable data printing and personalised printing. Leading packaging companies are adopting variable data printing owing to its use in direct marketing. Future Market Insights projects these trends to positively influence digital printing in the packaging market.

While Future Market Insights maintains a positive outlook on the global digital printing in the packaging market, it is of the opinion that high variable costs and limited opportunities in indirect sales channels can impede widespread adoption.

Food Largest End-user

The food sector remains the largest end-user of digital printing in packaging. According to Future Market Insights, demand for digital printing in packaging was pegged at over US$ 4.5 Bn by 2016. This is expected to increase at a CAGR of 16.6% during the forecast period 2016-2026.

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APEJ to Outpace North America to Become the Largest Market

North America, APEJ, and Western Europe are the three largest markets for digital printing in packaging. Currently, North America leads globally in terms of revenues; however, owing to the robust adoption of digital printing in APEJ, it will be relegated to second position by the end of 2026. APEJ will outpace North America to become the largest market, increasing its revenue share from 28% by 2016 to 40.7% by 2026-end.

Competitive Landscape Profiling

Leading players profiled by Future Market Insights in its report include Quad/Graphics Inc., Tailored Label Products Inc., Creative Labels Inc., Reynders Label Printing, DS Smith Plc, THIMM Group GmbH + Co. KG, Traco Manufacturing Inc., WS Packaging Group Inc., Elanders AB, and Colordruck Baiersbronn W. Mack GmbH & Co. KG.

Key Segment

By Print Technology Type:

Liquid Toner Electrophotography Printing
Nano-graphic Printing
Inkjet Technology
Others (Dye tonner)
By Product Type:

Labels
Flexible Packaging
Films & Wrap
Bags & Sacks
Pouches & Sachets
Corrugated Packaging
Folding Cartons
Bottles & Jars
Metal Cans
Others

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By End Use:

Food
Beverage
Alcoholic
Non-Alcoholic
Pharmaceutical
Personal care & cosmetics
Electronic comp.
Chemicals
Other (Automotive, etc)

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About Future Market Insights, Inc.
Future Market Insights, Inc. (ESOMAR certified, Stevie Award - recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10 years.

This release was published on openPR.