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Flexographic Printing Global Market Report 2024 Analysis, Trends, Growth, Research And Forecast 2033
Flexographic Printing Global Market
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According to The Business Research Company's, The flexographic printing market size has grown strongly in recent years. It will grow from $5.87 billion in 2023 to $6.34 billion in 2024 at a compound annual growth rate (CAGR) of 8.0%. The growth in the historic period can be attributed to growing cost-effectiveness, high-speed printing, versatility in substrates, quality and consistency, rise in packaging industry.
The flexographic printing market size is expected to see strong growth in the next few years. It will grow to $8.38 billion in 2028 at a compound annual growth rate (CAGR) of 7.2%. The growth in the forecast period can be attributed to increased demand for sustainable packaging, rapid growth in e-commerce, globalization of brands, evolving advertising and labeling needs, increasing focus on short-run printing. Major trends in the forecast period include innovation in anilox roll and ink delivery systems, rise in demand for printed labels and flexible packaging films, customization and short-run printing in packaging, implementation of process automation and workflow efficiency, expansion of flexographic printing in corrugated packaging.
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Market Drivers and Trends:
The increasing demand for packaged food products is expected to propel the growth of the flexographic printing market going forward. The packaged food products are foodstuff pre-packaged in the packaging to offer shelf life and sterility to food unless the packaging is damaged or opened. The growing demand for packaged food goods necessitates the use of flexographic printing to provide packaging that is convenient, attractive, cost-effective, and lightweight. On the label packaging, flexographic printing aids in the effective marketing of food goods and information about them. For instance, in 2021, the Food Industry Association (FMI) estimated that packaged food and beverages online sales could reach $109 billion. Therefore, the increasing demand for packaged food products is driving the growth of the flexographic printing market.
Technological advancement is a key trend gaining popularity in the flexographic printing market. Major companies operating in the flexographic printing sector are focused on developing new technological solutions to meet consumer demand and strengthen their position. For instance, MPS, a US-based company that manufactures flexo, offset, and hybrid printing presses for label converting and flexible packaging sector, launched E-Sleeve technology to improve print efficiency and quality. The technology includes pressure settings, precise concentric runout properties, increased dimensional accuracy for the optimum register, and constant parallelism for the ideal register across the entire print length. The technology enables better speeds to generate results with assured quality tolerances and reliable production cost calculations.
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Major Key Players of the Market:
Westrock Company, Amcor Limited, Barry-Wehmiller Group Inc., Rotatek Printing Machinery Co. Ltd., BOBST Group SA, Koenig & Bauer AG, Windmöller & Hölscher Corp., Komori Corporation, Flint Group Holding S.A., SOMA Engineering S.p.A., Mark Andy Inc., MPS Systems B.V., Gallus Holding AG, Star Flex International Limited, Nilpeter A/S, Edale Holdings Limited, Comexi Group S.A., Nuova Gidue S.p.A., Tresu Group A/S, R.K. Label Printing Machinery Private Limited, Aim Machintechnik Pvt. Ltd., Wolverine Flexographic LLC, OMET S.p.A., Allstein GmbH, Shanghai Printyoung International Industry Co. Ltd., Polygraph Limited, Shanghai Liu Xiang General Equipments Co. Ltd., Orient Sogyo Co. Ltd., Uteco S.p.A., Codimag S.p.A., Anderson & Vreeland Inc., Heidelberger Druckmaschinen AG
Flexographic Printing Market 2024 Key Insights:
• The flexographic printing market size is expected to see strong growth in the next few years. It will grow to $8.38 billion in 2028 at a compound annual growth rate (CAGR) of 7.2%.
• Flexographic Printing Market Thrives On Surging Demand For Packaged Food Products
• Technological Advancements Propel Innovation In Flexographic Printing Market
• Asia-Pacific was the largest region in the flexographic printing market in 2023
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