Packaging Printing Market by Packaging Type (Labels, Paper and Paperboard, Flexible Packaging, Corrugated Boxes, Cartons, Others), Printing Type (Flexography Printing, Rotogravure Printing, Offset Printing, Digital Printing, Screen Printing), Application (Food and Beverage, Household and Cosmetic Products, Pharmaceuticals, Others): Global Market Size Estimates and Forecast (2022-2030)
The market crossed US$ 382 billion mark in 2022 and is expected to hit US$ 519 billion by 2030, recording a CAGR of 3.9% during the forecast period.
Growth in the packaging industry
The packaging industry is influenced by an increase in population, urbanization, the development of an economy, demand for packed food, and consumer awareness of counterfeiting products. The packaging industry is increasingly becoming technology-oriented, with innovations driving the market. This is expected to lead to the use of flexible packaging, which increases the shelf life of products, reduces cost, and is light in weight. The flexible packaging industry is growing at a higher rate as compared to that of rigid packaging. Due to advancements in the manufacturing process, there is a shift from rigid packaging to flexible packaging. Thus, the growth in the packaging industry is further expected to drive market growth.
Within the report, the market is segmented into packaging type, printing type, application, and geography. By packaging type, the market is further segmented into labels, paper and paperboard, flexible packaging, corrugated boxes, cartons, others. On the basis of printing type, the market is segmented into flexography printing, rotogravure printing, offset printing, digital printing, screen printing. By application, the market is categorized into food and beverages, household and cosmetics, pharmaceuticals, and others. Geographically, the market is sub-segmented into North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa.
Increasing demand of digital printing
The major difference between digital printing and other forms of printing is that in the case of digital printing, there is no need for changing the printing plate. This eventually results in quicker turnaround time and reduced cost. The use of digital printing helps produce images of higher quality at cheaper costs. The image produced as a result of digital printing is consistent in quality. The use of digital printing in packaging is in the growth phase; however, the need to reduce the cost of printing without compromising the quality of the image will drive the demand for digital printing technology.
Growth of the household and cosmetics industry is accelerating the market growth.
The household and cosmetic industry across the globe is growing due to the rise in the number of working women, increased spending of masses on cosmetic products, and an increase in the young population. This industry is expected to contribute significantly to the growth of the digital printing packaging market. Increasing population, improving standards of living, increasing self-care awareness, and rising e-commerce activities have led to increased demand for household and cosmetic products. Thus, increasing demand for household and cosmetic products is further expected to propel the market growth in the forecast period.
Recent strategic developments in packaging printing market
The packaging printing market has undergone several significant developments, and a few of these have been mentioned below:
- In July 2021 Mondi announced the expansion of its Color Copy original flagship range with extra-long digital formats to meet the growing demand for digitally printed applications. Color Copy original ELDFs are compatible with all major printing machine manufacturers, e.g., Konica Minolta, Ricoh, Xerox, Canon, and others. The range is both FSC and EU Ecolabel certified as well as part of the Green Range.
- In June 2019, Graphics Packaging acquired Artistic Carton Mill and converted facilities that have divisions in Auburn, Indiana, and Elgin, Illinois, and is leading producer of folding cartons and coated recycled paperboard.
The packaging printing market is driven by several players by implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships Mondi, Sonoco Products Company, Graphic Packaging International, LLC, Quad/Graphics, Inc, Quantum Print & Packaging Ltd are among the prominent players operating in the market.
Target audience for the report:
- Raw material providers
- Packaging related associations, organizations, forums, and alliances
- Government bodies, such as regulating authorities and policy makers
- Venture capitalists, private equity firms, and start-up companies
- Application industry of packaging printing industry
- Research institutes, organizations, and consulting companies
Scope of the report:
In this report, the market has been segmented on the basis of:
- Packaging Type:
- Labels
- Paper and Paperboard
- Flexible Packaging
- Corrugated Boxes
- Cartons
- Others
- Printing Type
- Flexography Printing
- Rotogravure Printing
- Offset Printing
- Digital Printing
- Screen Printing
- Application:
- Food and Beverages
- Household and Cosmetic products
- Pharmaceuticals
- Others
- Region
- North America
- Europe
- Asia Pacific (APAC)
- South & Central America
- Middle East & Africa
- Companies profiled
- Mondi
- Sonoco Products Company
- Graphic Packaging International, LLC
- Quad/Graphics, Inc
- Quantum Print & Packaging Ltd
Companies profiled
- Mondi
- Sonoco Products Company
- Graphic Packaging International, LLC
- Quad/Graphics, Inc
- Quantum Print & Packaging Ltd