Packaging printing involves decorative and protective printing on packaging materials like paper, plastic films, corrugated cardboard, aluminum foil, etc. It is used for branding and labeling of products across various end use industries like food and beverages, personal care, pharmaceuticals, and others. Packaging printing helps communicate product information, attract consumers, differentiate products, and protect contents. Advances in printing technologies have enabled enhanced graphics, customizable designs, and multi-layered printing. Digitally printed packaging allows limitless design possibilities and on-demand short runs. It is increasingly being adopted for food packaging, labels, and other applications.
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 Dynamics:
Constant innovation in packaging design and technology is expected to drive growth of the packaging printing market over the forecast period. Advances in printing technologies like flexography, gravure, digital printing allow creation of visually appealing designs and provide branding opportunities for consumer products companies. Digitally printed packaging especially enables on trend designs, versioning of products, and timely branding campaigns without high setup costs. This fuels demand from various end use industries. Furthermore, increasing focus of brand owners and packaging converters on sustainability is also augmenting adoption of digitally printed packaging made from recyclable materials like paper or plastic films.
Segment Analysis
The Packaging Printing Market is segmented into flexo printing, offset printing, gravure printing and digital printing. The flexo printing segment dominates the market and accounts for around 35% of the total market share. This is because flexo printing process is economical for medium to high volume printing runs. It offers excellent printing on a variety of packaging substrates like paper, plastic, metal, foil and more.
PEST Analysis
Political: There are various regulations regarding packaging and printing. Regulations around material usage, recycling standards and labeling affect the market.
Economic: Growth in the e-commerce sector and demand for attractive and sustainable packaging drives market growth. Issues like inflation and economic slowdowns impact consumption and affect the market.
Social: Rising health awareness increases demand for packaging with nutrition information. Demand for eco-friendly and minimal packaging increases due to rising environmental concerns.
Technological: Digital printing and gravure printing segments are growing fast due to advances in printing technologies. Internet of Things (IoT) enables smart and interactive packaging.
Key Takeaways
The Global Packaging Printing Market Growth is expected to witness high over the forecast period of 2023 to 2030. The Asia Pacific region dominates the market and accounts for around 40% of the total share due to large consumer packaging market and presence of key players in the region.
Regional analysis
The Asia Pacific region has emerged as the largest packaging printing market with China and India being the major contributors. This is attributed to the immense population base creating high consumption levels as well as presence of key packaging manufacturers. Low labor costs and growth in sectors like food and beverages further propel market growth in the region.
Key players
Key players operating in the Packaging Printing Market are Mondi PLC, Ahlstrom-Munksjö Oyj, Autajon CS, Huhtamaki Flexible Packaging (Huhtamaki Oyj) and Avery Dennison Corporation. Mondi PLC is one of the leading global packaging and paper manufacturers focusing on sustainable and fiber-based packaging solutions. Avery Dennison Corporation is a prominent global supplier of labeling and packaging materials.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it