Report : North America 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 9.8% CAGR, the North America Digital Printing Packaging Market is speculated to be worth US$ 10,651.80 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the North America digital printing packaging market was valued at US$ 6,089.84 million in 2022 and is expected to reach US$ 10,651.80 million by 2028, registering a CAGR of 9.8% from 2022 to 2028. Increasing demand from e-commerce sector and technological advancements in digital printing are the critical factors attributed to the North America digital printing packaging market expansion.
The e-commerce industry in the region has grown exponentially in the last few years. Many e-commerce companies such as Tesco and Amazon ensure that their customers can conveniently shop required commodities online using e-commerce applications on their smartphones. In the e-commerce value chain, attractive packaging is an important strategy for brand owners to differentiate their products. Brand owners are shifting from traditional corrugated boxes to varied packaging options to stand out. The popularity of online shopping is also increasing the use of personalized packaging. Hence, the high preference for online shopping and e-commerce propels the demand for packaging material. Therefore, the North America digital printing packaging market growth is attributed to the rising demand from the e-commerce sector.
On the contrary, fluctuation of raw material prices hurdles the growth of North America digital printing packaging market.
Based on ink type, the North America digital printing packaging market is segmented into solvent-based, UV-based, aqueous, and others. The solvent-based segment held 38.2% share of North America digital printing packaging market in 2022, amassing US$ 2,326.03 million. It is projected to garner US$ 4,003.73 million by 2028 to expand at 9.5% CAGR during 2022–2028.
Based on packaging type, the North America digital printing packaging market is segmented into corrugated, folding cartons, flexible packaging, labels, and others. The corrugated segment held 28.2% share of North America digital printing packaging market in 2022, amassing US$ 1,716.13 million. It is projected to garner US$ 2,753.82 million by 2028 to expand at 8.2% CAGR during 2022–2028.
Based on end-use industry, the North America digital printing packaging market is segmented into food and beverage, pharmaceuticals, personal care and cosmetics, and others. The pharmaceuticals segment held 31.1% share of North America digital printing packaging market in 2022, amassing US$ 1,894.25 million. It is projected to garner US$ 3,104.57 million by 2028 to expand at 8.6% CAGR during 2022–2028.
Based on country, the North America digital printing packaging market has been categorized into the US, Canada, and Mexico. Our regional analysis states that the US captured 83.3% share of North America digital printing packaging market in 2022. It was assessed at US$ 5,072.84 million in 2022 and is likely to hit US$ 8,791.15 million by 2028, exhibiting a CAGR of 9.6% during the forecast period.
Key players profiles in the North America 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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