Digital printing technology has transformed the packaging industry by enabling customization, short print runs, and faster turnaround times, all of which are important for brand owners and packaging converters. The demand for digital printing in packaging has been steadily increasing in recent years due to the growth of e-commerce, increasing consumer demand for personalized packaging, and the need for shorter lead times and reduced waste.
According to a report by MarketsandMarkets, The global digital printing packaging market size is projected to grow from USD 29.4 billion in 2022 to USD 45.1 billion by 2027, at a CAGR of 8.9% from 2022 to 2027. The Asia-Pacific region is expected to witness the highest growth during this period, due to the increasing adoption of digital printing technology in emerging economies such as China and India.
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In terms of scope, the digital printing packaging industry is expected to continue to evolve and expand in the coming years. Advancements in technology are expected to improve the quality and efficiency of digital printing, while new materials and designs will offer more options for customization and sustainability. Additionally, the growing trend towards e-commerce and online shopping is expected to drive demand for more customized and personalized packaging options, further fueling the growth of the industry.
Digital Printing Packaging Market Key Players
The digital printing packaging market comprises major solution providers, Huhtamaki (Finland), Constantia Flexibles (Austria), Quad/Graphics, Inc. (US), THIMM The Highpack Group (Germany), Printpack (US), DS Smith (UK), Smurfit Kappa (Ireland), Krones AG (Germany), CCL Industries Inc. (Canada) and ePac Holdings, LLC. (US) among others. The study includes an in-depth competitive analysis of these key players in the digital printing packaging market, with their company profiles, and key market strategies.
"UV-based printing ink is the fastest growing market"
UV-based printing ink is indeed a rapidly growing segment of the digital printing packaging industry. UV-based inks are cured or dried using ultraviolet light, which allows for fast printing speeds and high-quality output. The use of UV-based inks also offers several advantages over traditional solvent-based inks, including improved durability and resistance to fading and smudging.
According to a report by MarketsandMarkets, the UV-cured printing inks market is expected to grow at a CAGR of 10.3% from 2020 to 2025. The report notes that the increasing demand for eco-friendly inks and the growing demand for digital printing in packaging applications are driving the growth of the UV-cured printing inks market.
Furthermore, the use of UV-based inks is also becoming increasingly popular in food packaging, as they offer superior resistance to moisture and other environmental factors that can compromise the integrity of the packaging. This has led to the development of food-grade UV inks that meet strict regulatory requirements for use in food packaging applications.
"Labels segment to be the largest packaging type in digital printing packaging market"
Th Labels segment is expected to be the largest packaging type in the digital printing packaging market. Labels are an essential part of product packaging, providing information about the product, its contents, and its usage. Digital printing technology allows for high-quality, customized labels with variable data such as barcodes, QR codes, and serial numbers to be produced quickly and cost-effectively, making it an attractive option for many businesses.
The growth of the labels segment can be attributed to several factors, including the increasing demand for customized and personalized labels, the growing use of barcodes and QR codes in product packaging, and the need for high-quality, durable labels that can withstand harsh environments .
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" Food & beverage to account for the largest market share"
food and beverage industry is expected to account for the largest market share in the digital printing packaging market. The food and beverage industry is a major consumer of packaging materials, and the demand for digital printing technology in this industry has been growing rapidly due to several factors such as the need for product differentiation, increasing regulatory requirements, and the growing trend towards sustainable packaging . The demand for high-quality packaging materials and the growing use of digital printing technology in the food and beverage industry are driving the growth of the market.
Digital printing technology allows for the production of high-quality, customized packaging materials that can help food and beverage companies differentiate their products from competitors. Additionally, digital printing technology allows for the printing of variable data such as barcodes, QR codes, and expiration dates, which is important for meeting regulatory requirements and ensuring the safety and quality of food products.
Furthermore, the use of sustainable packaging materials is becoming increasingly important in the food and beverage industry, and digital printing technology offers a more eco-friendly alternative to traditional printing methods. This has led to the development of new materials such as biodegradable and compostable films and coatings that can be printed using digital printing technology.
"North America is the second-largest market for digital printing packaging"
North America is the second-largest market for digital printing packaging, after the Asia Pacific region. The region is home to a large number of companies that use digital printing technology for various packaging applications, such as food and beverage, pharmaceuticals, and consumer goods. The North American market for digital printing packaging is also benefiting from the growing trend towards e-commerce and online shopping. As more consumers shop online, there is a greater demand for packaging materials that can be printed quickly and cost-effectively using digital printing technology. The North American market for digital printing packaging is characterized by a high degree of innovation and competition, with many companies investing in research and development to create new materials and designs that meet the changing needs of consumers.