Market Overview -
The digital printing packaging market size is anticipated to witness a fueling rise due to the increasing demand for flexible packaging and a surge in demand for ecologically friendly printing. Corrugated wrappings, flexible packaging, and folding cartons have benefited from recent advancements in digital printing technologies. Fortune Business InsightsTM has presented this information in its upcoming report titled “Digital Printing Packaging Market, 2023-2030”.
Segmentation -
On the basis of packaging type, the market is fragmented into folding cartons, corrugated wrappers, labels, flexible packaging, and others. On the basis of printing technology, the market is segmented into thermal printing, inkjet printing, and others. On the basis of the end-use industry, the market is divided into pharmaceuticals, food & beverage, automotive, electronics, and others. Geographically, the market is classified into Europe, Latin America, Asia Pacific, North America, and the Middle East and Africa.
Report Coverage -
The report shares a detailed analysis of the market for digital printing packaging. The report highlights the latest developments in the market, inclusive of drivers, restraints, competitive landscape, new product launches, and geographical expansion. Furthermore, it also delivers a cumulative impact of the COVID-19 pandemic on the industry.
Source: https://germanchemicalmarketnews.blogspot.com/
Drivers & Restraints –
Developments in Digital Printing Technologies to be a Major Growth Driver
The increased demand for product appearance across many brands has accelerated the development of digital printing for the packaging industry. In addition, the recent developments in digital printing technologies have increased the scope of flexible packaging, corrugated wrappings, and folding cartons, which could be a major market driver. However, the cost fluctuation for raw materials and steep production costs may impede the market’s growth.
Regional Insights -
Asia Pacific to Hold a Major Share of the Global Market
Due to rising demand from a variety of application areas, Asia Pacific holds the highest global digital printing packaging market share. Furthermore, the growing demand from the food and beverage industry, China, India, and Japan stand to be the major consumers. Moreover, the strong demand for food packaging, as well as the growing need for packaged items to provide information about their storage life, composition, and nutritional content, has contributed to the market's growth in the region.
North America has the second-largest share due to the high demand from the label sector. For example, Coca-Cola's largest campaign for the Cola series used packaging as the message. The Coca-Cola marketing effort proved that labels and packaging could play an important role in customer interaction. To acquire client acceptance, packaging was employed correctly as part of the promotional plan; this was attributable to the market’s growth.
Competitive Analysis-
Key Players to Increase Market Revenue by Working Towards New Innovations
Major players like HP, Mondi, E. I. Du Pont de Nemours & Co, Xerox, Quad/Graphics, Sun Automation, Cenveo, Mark Andy, Dainippon Screen Graphics, and others have been attempting to increase market revenue by working on innovations. These ensure not only the quality of products and services but also the cost involved. Furthermore, they have boosted the morale of newcomers to the industry by providing sufficient guidance and support.
Industry Developments -
October 2020: Thimm Packaging Group sold its Puebla, Mexico, production facility to the Tri-Wall group in order to ensure a reliable supply of single and recyclable multi-material wrappers to its North American customer base. Furthermore, the corporation intends to place a greater emphasis on expanding its European home industries.
List of Key Players in the Digital Printing Packaging Market:
● HP Inc.
● Xeikon N.V.
● Eastman Kodak Company
● Landa Corporation Ltd.
● Quad/Graphics Inc.
● Tailored Label Products Inc.
● Creative Labels Inc.