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Packaging Printing Market Growth and Restrain Factors Analysis Report
The global packaging printing market is estimated to reach over USD 502.36 billion by 2031, exhibiting a CAGR of 4.71% during the forecast period.
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Printing with digital printing packaging is a form of printing technology that uses electronically controlled laser and inkjet printers. It is ideal for tiny to medium file sizes in a number of formats. New designs in a variety of colors can be created using laser printer packaging technology. Promotional offers can be efficiently printed on packaging using digital printing packaging technology. Digital printing is gaining popularity among consumers due to its numerous benefits.
Soaring demand for flexible packaging and a sharp increase in demand for environmentally friendly printing have fuelled the digital printing packaging market. The most recent advancements in digital printing technology have expanded the breadth of flexible packaging, corrugated wrappings, and folding cartons. Because of the strong demand, many manufacturers have increased their production lines, supporting market growth.
List of Prominent Players in the Packaging Printing Market:
• Amcor Limited
• Canon, Inc.
• Constantia Flexibles GMBH
• Duncan Printing Group
• Dunmore
• Eastman Kodak Company
• Graphics Inc.
• Graphics Packaging Holding Company
• HP Inc.
• Kido Packaging Corporation
• Mondi Group
• Quad/Graphics, Inc.
• Quantum Print and Packaging Ltd.
• Sonoco Products Company
• Toppan Printing Co. Ltd.
• WS Packaging Group, Inc.
• Xeikon N.V.
• Xerox Corporation
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Market Dynamics:
Drivers-
Technological developments and increased demand for creative packaging due to fierce rivalry and brand recognition are likely to fuel market expansion. The increasing need for innovative packaging from end-user categories such as food, beverage, and cosmetics, among others, is expected to drive market growth. Growth in the packaging printing industry, desire for aesthetics, product differentiation, and technological improvements are some digitally printed packaging market drivers. Installing production and printing equipment necessitates a significant initial investment, and more investments are required when establishing manufacturing or purchasing a printing press. There is a growing demand for printing technologies that are cost-effective, environmentally friendly, and innovative.
Challenges:
Due to the rubber plate fixation in printing plates and their inapplicability for heavy goods, high initial capital expenditure is expected to stymie the expansion of the packaging printing industry. Installing production and printing equipment necessitates a considerable initial expenditure, and more investments are required when establishing manufacturing or purchasing a printing press.
Regional Trends:
Asia Pacific packaging printing market is expected to register a major market share in terms of revenue and is projected to develop at a high CAGR in the near future. The package printing industry in the Asia-Pacific region is primarily driven by rising consumer expenditure and rising demand for environmentally friendly products. The market is expanding due to an increase in processed food consumption. Developing packaging printing technologies can also be viewed as a driving force in market development.
This market is expected to increase significantly due to the expanding pharmaceutical sector and the rising need for easy packaging. Packaging sectors such as corrugated paper, folded cartons, and flexible packaging have seen fast growth throughout Europe. Additionally, advances in metal printing have encouraged regional expansion. Prominent participants in the digital printing for packaging industry in the UK and Germany are expanding their operations by increasing their network.
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Recent Developments:
• In September 2022, AutajonGroup recently announced the addition of ZappPackaging from California to its Packaging Division. The acquisition will help the company's activities in the United States, particularly in California.
Segmentation of Packaging Printing Market-
By Type-
• Corrugated
• Flexible
• Folding Cartons
• Label & Tags
• Others
By Printing Technology-
• Flexography
• Gravure
• Offset
• Screen Printing
• Digital
By Printing Ink-
• Solvent-based
• UV-based
• Aqueous
• Others
By Application-
• Food & Beverages
• Household & cosmetics
• Pharmaceuticals
• Others
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• Southeast Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of the Middle East and Africa
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