The digital printing packaging market is driven by growing demand from the food and beverage and personal care industries. Digital printing is faster and more economical and it has increased the popularity of digitally printed packaging. According to Trends Market Research (TMR), the market is expected to grow at a rate of 14.73% CAGR by 2026.
According to the TMR report, based on packaging type, labels accounted for the largest market share and are expected to grow at a significant rate in the forecast year. This development is due to its application in several types of variable packaging.
In terms of end users, the food and beverage industry is expected to grow at a higher rate owing to the strong demand for food packaging and the growing trend of variable data printing on food packaging to communicate the composition, shelf life and nutritional values. product value. The high degree of personalization required in the food and beverage industry is appropriately supported by the functionality offered by digital printing techniques, enabling a unique synchronization between two large market segments.
Printing technology accounts for the largest market share and is expected to grow at a moderate CAGR during the forecast period. This development can be attributed to its ability to print superior quality images and withstand various climatic conditions. In 2015, the variable data printing segment of the format segment constituted a larger share of the digital packaging printing market. This is expected to grow at a higher rate over the forecast period due to its ability to produce custom printing without slowing down the process, which will significantly reduce printing and labor costs.
The Asia-Pacific region accounted for a higher share of the total digital printing packaging market, in terms of value, owing to manufacturers’ focus on new low-cost packaging printing options. But as the digital printing packaging market in established countries matures, the Indian and Chinese markets are expected to grow at higher rates from 2016 to 2021. The region is also expected to register the highest development during the estimated period due to the growth of the region. online retail sales and the growth of convenience packaging in the food industry.
This report includes profiles of companies that dominate the digital printing packaging market, such as HP, Xerox, Kodak, Quad/Graphics, Mondi, among others.
For more details, visit the Trends Market Research site.
Digital Printing Packaging Market Expected to Grow at a CAGR of 14.73% by 2026