Report : South & Central 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 9.5% CAGR, the South & Central America Digital Printing Packaging Market is speculated to be worth US$ 1,182.58 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the South & Central America digital printing packaging market was valued at US$ 684.51 million in 2022 and is expected to reach US$ 1,182.58 million by 2028, registering a CAGR of 9.5% from 2022 to 2028. Technological advancements in digital printing and rising demand for sustainable packaging are the critical factors attributed to the South & Central America digital printing packaging market expansion.
In the field of packaging, printing, and labeling, technological developments are rising rapidly. Digital printing offers packaging personalization, production flexibility, and saves packaging time to market. Due to various equipment improvements and technological developments, brand owners and packaging converters are preferring digital printing. Innovation in digital printing offers solutions for companies to reduce production duration from months to days. Technological advancements in digital printing packaging also help in branding and marketing. Direct prints on packaging provide a unique look to the products. Digital printing packaging is prominently used in various industries, including food & beverages, pharmaceuticals, and personal care & cosmetics. Owing to significant technological developments in inkjet and electrophotography technologies, digital printing is emerging as one of the cost-effective and easily accessible methods for printing. Digital printing packaging is majorly used to pack food and beverage products. For food and beverages and other consumer goods companies, the digital printing technology provides high-quality packaging with the benefits of personalization, fast turnaround, reduced waste, and on-the-fly modification to pack designs. In the pharmaceuticals & cannabis sector, manufacturers are increasingly turning to digital printing to accommodate demands for localized packaging, legally required variable data, and quick & frequent changeover. Equipment advancements have made it possible to digitally print various packaging materials and formats, including food wrappers, aluminum beverage cans, and metalized-film pouches. Thus, increasing technological advancements in the digital printing packaging sector are driving the market growth.
On the contrary, fluctuation of raw material prices hurdles the growth of South & Central America digital printing packaging market.
Based on ink type, the South & Central America digital printing packaging market is segmented into solvent-based, UV-based, aqueous, and others. The solvent-based segment held 38.7% share of South & Central America digital printing packaging market in 2022, amassing US$ 265.23 million. It is projected to garner US$ 451.98 million by 2028 to expand at 9.3% CAGR during 2022–2028.
Based on packaging type, the South & Central America digital printing packaging market is segmented into corrugated, folding cartons, flexible packaging, labels, and others. The corrugated segment held 33.0% share of South & Central America digital printing packaging market in 2022, amassing US$ 225.60 million. It is projected to garner US$ 366.66 million by 2028 to expand at 8.4% CAGR during 2022–2028.
Based on end-use industry, the South & Central America digital printing packaging market is segmented into food and beverage, pharmaceuticals, personal care and cosmetics, and others. The food and beverage segment held 36.5% share of South & Central America digital printing packaging market in 2022, amassing US$ 249.61 million. It is projected to garner US$ 415.66 million by 2028 to expand at 8.9% CAGR during 2022–2028.
Based on country, the South & Central America digital printing packaging market has been categorized into Brazil, Argentina, and the Rest of South & Central America. Our regional analysis states that Brazil captured 45.2% share of South & Central America digital printing packaging market in 2022. It was assessed at US$ 309.61 million in 2022 and is likely to hit US$ 550.17 million by 2028, exhibiting a CAGR of 10.1% during the forecast period.
Key players profiles in the South & Central America digital printing packaging market report are DS Smith Plc; DuPont de Nemours Inc; HP Inc; Mondi Plc; Quad/Graphics Inc; Xeikon BV; and Xerox Holdings Corp, among others.
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