Packaging printing involves printing of functional and graphic content on packaging materials such as paper and paperboard, plastics, and metal. Packaging printing offers product protection, identification, and communication of essential information to consumers. The growth of the e-commerce industry has significantly increased the demand for customized and vibrant packaging printing. Growing consumer demands for aesthetically appealing packaging to enhance product visibility on shelves and online platforms is another factor boosting the growth of the packaging printing market.
The global packaging printing market is estimated to be valued at US$ 375.05 Mn in 2023 and is expected to exhibit a CAGR of 8.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The expansion of the e-commerce industry has emerged as one of the key trends driving the growth of the global packaging printing market. According to the United Nations Conference on Trade and Development, global e-commerce sales surpassed USD 26.7 trillion in 2019 and are expected to reach USD 40 trillion in 2025. Online retail platforms have become highly competitive with changing consumer preferences and demand for unique and visually appealing packaging. Variable data printing and flexible printing technologies allow brands to offer customized and personalized packaging printing solutions to their customers. These technologies also enable real-time printing of variable content such as expiration dates, sizes, weights, and others, thereby facilitating demand fulfillment. Their ability to provide shorter production runs at lower costs compared to traditional printing methods has further increased their adoption among end-use industries.
Segment Analysis
The global packaging printing market is dominated by the flexible packaging sub-segment, which accounts for over 35% share of the market. Flexible packaging finds wide applications in food and beverages, homecare and personal care industries. It offers advantages such as lightweight, portability and reusability. The growing demand for flexible packaging from e-commerce sector is further driving the growth of this sub-segment.
Key Takeaways
The Global Packaging Printing Market Demand is expected to witness high growth over the forecast period of 2023 to 2030. With the growing demand for convenient and sustainable packaging, the market is expected to grow at a CAGR of over 8%.
Regional analysis: Asia Pacific accounts for the largest share of over 35% of the global packaging printing market in 2023. Growing economies such as India and China witness high demand for packaged goods such as food and beverages, cosmetics and pharmaceuticals. This high demand is fueling the growth of the packaging printing market in the region. The rising disposable incomes and changing lifestyles and preferences are also contributing to the dominance of Asia Pacific.
Key players: Mondi PLC, Ahlstrom-Munksjö Oyj, Autajon CS, Huhtamaki Flexible Packaging (Huhtamaki Oyj) and Avery Dennison Corporation are the major companies operating in the Packaging Printing Market. These companies are focusing on sustainable packaging solutions and innovative printing technologies to cater to the dynamic customer needs. They are also expanding their production capacities and geographical reach to strengthen their market position.
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