Report : Asia Pacific Digital Printing Packaging Market Forecast to 2028 - COVID-19 Impact and Regional Analysis by Ink Type (Solvent-based, UV-based, Aqueous, and Others), Packaging Type (Corrugated, Folding Cartons, Flexible Packaging, Labels, and Others), and End-Use Industry (Food and Beverage, Pharmaceuticals, Personal Care and Cosmetics, and Others)
At 8.1% CAGR, the Asia Pacific Digital Printing Packaging Market is speculated to be worth US$ 12,974.20 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the Asia Pacific digital printing packaging market was valued at US$ 8,136.87 million in 2022 and is expected to reach US$ 12,974.20 million by 2028, registering a CAGR of 8.1% from 2022 to 2028. Rising demand for sustainable packaging and emergence of smart labelling are the critical factors attributed to the Asia Pacific digital printing packaging market expansion.
Sustainable printing is important for reducing the adverse impact of offset printing on the environment. Compared to analogue, or conventional printing, digital printing is a far more sustainable option since it uses less energy, produces less waste, and has a smaller carbon footprint overall. The materials involved in digital print – from the inks to the films – are also sustainable. Further, digital printing packaging uses recycled and renewable products. Process-free plates, including cold press plates, are used to eliminate volatile compounds, expanding the adoption of digital printing. Unlike conventional printing, digital printing does not employ photo chemicals or film plates, eliminating the pre-press phases between the digital document file and the final print. The usage of digital printers does not replace plate, which saves time and costs. In addition, digital presses do not create harmful toxic pollutants. Hence, they do not require the ventilation required for offset presses, which reduces their overall energy consumption. Also, as a sustainable printing method, digital presses use a wide range of recycled substrates for printing. The rising demand for sustainable printing and flexible packaging is expected to boost the growth of the Asia Pacific digital printing packaging market during the forecast period.
On the contrary, fluctuation of raw material prices hurdles the growth of Asia Pacific digital printing packaging market.
Based on ink type, the Asia Pacific digital printing packaging market is segmented into solvent-based, UV-based, aqueous, and others. The solvent-based segment held 40.6% share of Asia Pacific digital printing packaging market in 2022, amassing US$ 3,302.39 million. It is projected to garner US$ 5,111.14 million by 2028 to expand at 7.6% CAGR during 2022–2028.
Based on packaging type, the Asia Pacific digital printing packaging market is segmented into corrugated, folding cartons, flexible packaging, labels, and others. The corrugated segment held 33.3% share of Asia Pacific digital printing packaging market in 2022, amassing US$ 2,706.89 million. It is projected to garner US$ 4,084.42 million by 2028 to expand at 7.1% CAGR during 2022–2028.
Based on end-use industry, the Asia Pacific digital printing packaging market is segmented into food and beverage, pharmaceuticals, personal care and cosmetics, and others. The food and beverage segment held 35.5% share of Asia Pacific digital printing packaging market in 2022, amassing US$ 2,887.52 million. It is projected to garner US$ 4,585.48 million by 2028 to expand at 8.0% CAGR during 2022–2028.
Based on country, the Asia Pacific digital printing packaging market has been categorized into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. Our regional analysis states that China captured 30.3% share of Asia Pacific digital printing packaging market in 2022. It was assessed at US$ 2,467.35 million in 2022 and is likely to hit US$ 4,311.60 million by 2028, exhibiting a CAGR of 9.7% during the forecast period.
Key players profiles in the Asia Pacific digital printing packaging market report are DS Smith Plc; DuPont de Nemours Inc; HP Inc; Mondi Plc; Quad/Graphics Inc; Weber Packaging Solutions Inc; Xeikon BV; and Xerox Holdings Corp, among others.
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