Digital Printing Packaging Market

Market Synopsis:

The Global Digital Printing Packaging Market was valued at USD 20.65 Billion in the year 2022 and is expected to reach a value of USD 40.25 Billion by the year 2030. The Global Market is anticipated to grow to exhibit a Compound Annual Growth Rate (CAGR) of 8.70% over the forecast period.

Digital Printing Packaging is a printing technology that uses mainly electronic control laser and inkjet printers to print packaging materials. Digital Printing is essential in packaging because it reduces turnaround time and requires minimal press setup. It is best suited for small and medium print runs in various formats. Digital Printing Packaging technology allows for the printing of multiple designs in a variety of colors. In addition, the Digital Printing Packaging technology can print product descriptions directly onto the packaging. The demand for sustainable printing is expected to drive the growth of the digital printing for packaging market during the forecast period. Furthermore, the rising demand for flexible packaging is expected to fuel the expansion of digital printing in the packaging market.

Furthermore, cost efficiency is expected to cushion the growth of digital printing for the packaging market. Moreover, developing countries and funds for research and development will provide additional growth chances for the development of digital printing for the packaging market in the coming years. However, compliance with the strict guidelines may pose different challenges to developing digital printing for the packaging market shortly. In addition, advancements in raw material costs, on the other hand, are expected to stymie the expansion of the Digital Printing Packaging market over the forecast period.

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Market Segmentation:

The Digital Printing Packaging Market is broadly segmented into Printing Inks, Printing Technology, Format, Packaging Type, End-Use Industry, and Region. Based on the Printing Inks, the market is sub-segmented as Solvent-Based, UV-Based, Aqueous, and Others (Latex & Dye Sublimation Inks). Based on Printing Technology, the market is further sub-segmented as Inkjet Printing, Electrophotography & Electrostatic Printing, and Other Technologies (Direct Thermal Printing, Toner-Based printing systems iconography, and Magnetograph). Furthermore, based on the Format segment, the market is sub-segmented as Variable Data Printing, Large Format Printing, and Other Formats (print on demand and dimensional printing). Based on the Packaging Type segment, the market is sub-segmented as Corrugated, Folding Cartons, Flexible Packaging, Labels, and Other Types (Rigid Packaging and Metal Packaging). Finally based on End-Use Industry, the market is sub-segmented as Food & Beverage, Pharmaceuticals & Healthcare, Household & Cosmetic Products, and Other End Uses (Automotive and Electronic industry)

Based on End-Use Industry:

The Food & Beverage sub-category accounted for the most significant share of the category End-Use Industry in 2021, making up about three-fifths of the Global Digital Printing Packaging Market. Moreover, it is anticipated that this sub-category will continue to hold the top spot throughout the forecast period. This is related to the Packaging Industry's widespread usage of Digital Printing on product packets.

Based on Packaging Type:

Based on the segment Packaging Type, the Labels sub-segment had the highest market share in 2021 due to the widespread use of Digital Printing for Label Printing, which accounts for more than two-thirds of the Global Digital Printing Packaging Market. Therefore, it is predicted that this segment will continue to hold the top spot throughout the forecast period.

Asia Pacific is Projected to Grow at the Fastest CAGR during the Forecast Period

Asia Pacific is accounted to grow at the fastest Compound Annual Growth Rate (CAGR) during the forecast period. As a result, the Asia Pacific held the largest share of the global Digital Printing Packaging market. Due to increased Food & Beverage industry demand, China, India, and Japan are the primary consumers. This is owing to the increasing use of Food Packaging items and the growing emphasis on packaged foods to share information about the product's composition, storage life, and nutritional content leading to market’s growth.

Competitive Landscape:

The key players in the Global Digital Printing Packaging Market include- Xeikon N.V., WS Packaging Group Inc, Xerox Corporation, Mondi PLC, Eastman Kodak Co., Traco Manufacturing Inc., Dupont, Quad/Graphics Inc., Quantum Print & Packaging Ltd., HP Inc, and others.

Segmentation of the Global Digital Printing Packaging Market: