In terms of revenue, the Global Digital Printing Packaging Market is expected to reach USD 32.6 Billion by 2028, growing at a Compound Annual Growth Rate (CAGR) of 8.8% from 2022 to 2028.
The increasing demand from numerous industries such as pharmaceuticals, cosmetics, food & beverage, and electrical & electronics is anticipated to augment the market's growth over the forecast period.
Key Highlights from Report:
- The Labels sub-segment of the segment Packaging Type held a significant share in 2021. This growth is because it is used in practically all packaging variables. Labels are the most common packaging since they include information about the goods, brand identification signs, and shipping information.The Electrophotography & Electrostatic Printing sub-segment of the segment Technology is projected to grow at a Significant Compound Annual Growth Rate (CAGR) during the forecast period. This is due to its ability to print high-quality photos and survive various weather conditions.
- In addition, the Food & Beverage sub-segment of the End-Use segment is projected to grow at a Significant Compound Annual Growth Rate (CAGR) during the forecast period. This surge is due to the growing trend of variable data printing on food packages to communicate the product's shelf life, composition, & nutritional value and the increased demand for food packaging.
- Asia Pacific is expected to grow at the fastest Compound Annual Growth Rate (CAGR) during the forecast period. Packaging sectors like Corrugated Paper, Folded Cartons, and Flexible Packaging have experienced significant growth in the region. Developments in metal printing have also spurred regional growth. Leading companies in the UK and Germany are growing their networks with businesses in the market.
Due to the many advantages, it provides, Digital Printing is quickly becoming the new standard technology. Due to increased production flexibility, quick marketing turnaround, and increased personalization, it is becoming quite profitable. The possibility of integrating digital presses has been a positive advance from an operational standpoint. Social segregation practices are becoming more rigid throughout many nations as the COVID-19 virus spreads its tentacles. This drives demand for a wide range of consumer goods in the e-commerce industry.
As a result of merchants looking for reliable packaging solutions, packaging companies enjoy increased business opportunities. Packaging businesses mainly rely on digital printing technologies to speed up packaging the o guarantee prompt delivery of goods. Virtual and innovative labeling techniques are becoming increasingly common in the global digital printing and packaging industry.
Asia Pacific held the largest share of the market due to increased demand from multiple application areas. China, India, and Japan are the primary consumer due to the growing need in the food & beverage industry. This is attributable to the increasing emphasis on packaged foods to share information about the product's storage life, composition, & nutritional content and the high demand for food packaging.