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2024 Digital Printing Packaging Market Report : Market Size, Growth Drivers, And Key Trends
Digital Printing Packaging Global Market Report 2024
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According to The Business Research Company's, The digital printing packaging market size has grown strongly in recent years. It will grow from $24.44 billion in 2023 to $26.77 billion in 2024 at a compound annual growth rate (CAGR) of 9.6%. The growth in the historic period can be attributed to customization and personalization trends, short-run printing requirements, rise of e-commerce and d2c brands, brand differentiation and visual appeal, quick time-to-market..
The digital printing packaging market size is expected to see strong growth in the next few years. It will grow to $38.77 billion in 2028 at a compound annual growth rate (CAGR) of 9.7%. The growth in the forecast period can be attributed to expanding sustainable packaging practices, increased adoption in food and beverage industry, rising demand for variable data printing, global shift towards circular economy.. Major trends in the forecast period include advancements in ink and printing technologies, smart packaging with track-and-trace features, digital labels for product authentication, application of 3d printing in packaging, expansion of digital printing in flexible packaging..
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Market Drivers and Trends:
Increasing demand for cosmetics and personal care is expected to boost the growth of the digital printing packaging market going forward. Cosmetics and personal care refer to products used on the human body to clean, enhance, make it more appealing, or otherwise alter its look. Digital printing helps personal care and cosmetics manufacturers market both the company's brand and the product, allowing them to do more lucrative design printing on the product to reach the maximum targeted audience and deliver a more rapid turnaround than conventional solutions. For instance, in 2021, according to an annual report published by L'Oréal S.A., a France-based cosmetic company, the worldwide cosmetic market stood at 8.2%, up from 5.5 % in 2019 Moreover, in January 2021, according to an article shared by Automat.ai, a Canada-based business service, software, and computer software company, in the US, sales of skincare products increased by 13% last year, while sales of makeup items increased by 1%. Therefore, increasing demand for cosmetics and personal care is driving the growth of the digital printing packaging market.
Technological advancements have emerged as the key trend gaining popularity in the digital printing packaging markets. Major companies operating in the digital printing and packaging markets are developing innovative technologies to strengthen their position in the market. For instance, in October 2022, Comexi Group, a Spain-based manufacturer and distributor of machinery solutions for the flexible packaging market, launched Digiflex, a digital printing technology machine. This is designed for flexible packaging and label converters to print variable data on products for marking applications that provide fast printing speeds, excellent quality outcomes, and high performance and production. The machine has a shorter set-up time, a maximum speed of 220 m/min, less material waste, and a shorter lead time. Each printed code is potentially unique and contains unique information, offering traceable material information and personalizing items based on the user's needs.
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• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
Major Key Players of the Market:
Canon Inc., Hewlett-Packard Development Company L.P., Fujifilm Holdings Corporation, Amcor Limited, DuPont de Nemours Inc., DS Smith plc., Dover Corporation, Huhtamaki Oyj, CCL Industries Inc., Barry-Wehmiller Companies Inc., Flint Group, Heidelberger Druckmaschinen AG, Mondi plc., Agfa-Gevaert N.V., Constantia Flexibles Group GmbH, Bobst Group SA, Electronics For Imaging Inc., Konica Minolta Inc., Koenig & Bauer AG, Eastman Kodak Company, Coveris Holdings S.A., Komori Corporation, INX International Ink Co., Mimaki Engineering Co. Ltd., Esko-Graphics BVBA, Mutoh Holdings Co. Ltd., Durst Group, Edwards Label, Landa Corporation, EC Labels Ltd
Digital Printing Packaging Market 2024 Key Insights:
• The digital printing packaging market size is expected to see strong growth in the next few years. It will grow to $38.77 billion in 2028 at a compound annual growth rate (CAGR) of 9.7%.
• Digital Printing Packaging Market Set To Flourish With Rising Demand In Cosmetics And Personal Care Sector
• Technological Advancements Drive Innovation In Digital Printing Packaging Market
• Asia-Pacific was the largest region in the digital printing packaging market in 2023, and is expected to be the fastest-growing region in the forecast period
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