Rising Demand in FMCG Drives Artwork Management Software Market Growth at 9.4% CAGR by 2030

According to the new research report on "Artwork Management Software Market Size and Forecasts (2022 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis," published by The Insight Partners, the market is expected to reach US$ 1,128.58 million by 2030 and register a CAGR of 9.4% from 2022 to 2030.

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The Europe artwork management software market is segmented into France, Germany, Russia, Italy, the UK, and the Rest of Europe. Western European countries are more advanced than the Nordic and Eastern European countries, which is a major factor contributing to the high adoption of technological solutions across all industries in Western Europe. Germany, Italy, the UK, Spain, and other economically strong countries have been significantly implementing advanced solutions. Pharmaceutical, e-commerce, food & beverages, FMCG, and manufacturing industries are a few of the largest consumers of artwork management solutions in Europe. Automation in these industries helps reduce cost and time, especially in manufacturing processes.

The region witnessed a significant surplus in the food and beverage trade. According to European Commission, in the past decade, EU's food and beverage exports have doubled, accounting for more than EUR 90 billion. Further, the EU food legislation is extremely harmonized, and it benefits significantly from the opportunities provided by the EU single market. In 2021, agricultural, fisheries, and food & beverage (F&B) products accounted for 8.8% of all exported goods in the EU and 7.0% of all goods imported into the region. EU exported agricultural, fisheries, and food and beverage (F&B) products to non-member countries with a trade surplus of US$ 216.28 billion (EUR 191 billion).

The growth in food exports in Europe increases the production activity in the manufacturing units. These units require artwork management software for efficient packaging and labeling of food & beverage products, which increases its adoption among manufacturers. Major food and beverage companies in Europe-such as Danone (London) and Diageo (Belgium)-are making significant investments in their artwork management software to automate their labeling and packing solutions for manufactured products, which is fueling the artwork management software market growth.

The retail market of Europe is not homogenous; therefore, several countries in the region are at different phases of retail development. The retail sector in Europe is the largest industrial ecosystem with 99% of SMEs. Retail encompasses most industrial ecosystems and has the strongest linkages with the agri-food, textiles, tourist, and social economy ecosystems. The retail industry has been completely revolutionized by digital technologies. The adoption of artwork management software among users in retail industry positively impacted merchants' activities by providing cost-effective product packaging and labeling. This helps retailers expand their business by increasing their consumer base. Hence, the growing retail industry in the region is boosting the artwork management software market growth.

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Germany, France, and the UK are established retail markets, while Turkey and Russia are still considered new. The UK, Germany, and France control more than half of Western European retail. Further, the emerging retail sectors in Russia, the Czech Republic, and Poland are witnessing the entry of new retailers, which is expected to boost the growth of the artwork management software market in these countries in the coming years.

The global artwork management software market size is bifurcated on the basis of deployment, application, and geography. Based on deployment, the artwork management software market is bifurcated into cloud and on-premises. Based on application, the artwork management software market is categorized into manufacturing, life sciences, retail, and others. Geographically, the artwork management software market is segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM).

Key Findings of Study:
In Europe, the Germany holds the largest share in the artwork management software market. Germany is the fourth-largest pharmaceutical market worldwide. Germany belongs to the world's leading clinical trial locations based on R&D investment and patent application levels. The country is the second-largest exporter of medicinal products. The country also developed to become one of the major producers of new biotherapeutics due to the rising demand for personalized medicine globally. According to the European Federation of Pharmaceutical Industries and Associations (EFPIA), in 2021, Germany invested US$ 10.5 billion in pharmaceutical R&D activities to develop new medicines for its customers across the globe. Thus, due to growing investment in pharmaceutical and R&D activities the artwork management software market in Germany is projected to expand during the forecast period.

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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

This release was published on openPR.