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Packaging protects products from damages and eases storage and distribution processes. In the packaging process, goods are prepared for transport, warehousing, sales, and end-use. Packaging printing basically refers to label which is a written, electronic, and graphical representation on the package that gives more details about that product.
Due to the trends and innovation for packaging in the food, beverage, and cosmetics industries, there is a massive demand for the global packaging printing market. Moreover, the growth in the pharmaceutical industry and the popularity of convenient packaging escalate the market on the worldwide platform.
Acknowledging the ascending graph of the growth, the market is climbing constantly, Market Research Future (MRFR) asserts that the global packaging printing market would reach the valuation of USD 180 BN by 2022, registering approximately 5% CAGR throughout the forecast period (2016-2022)
Other factors that drive the printing industry trends include growth in flexible packaging, the pressure to reduce packaging waste, and the growing demand for sustainable printing. In recent years, the overall standard of living of people, particularly in the emerging region has improved dramatically due to rapid economic development.
This, as a result, has spurred the increase in demand for food, beverages, cosmetics, other luxury items, and hence, in the growth of the market. Furthermore, the need for product differentiation and aesthetics looks have led to unprecedented growth and innovation in the packaging industry which, in turn, foster the growth of the market.
The market is highly application driven and witnesses a higher demand due to the growing demand for branded products. The market is further driven by the rapid growth in packaging and labeling industries. Also, increasing demand for product differentiation majorly fuels market growth.
On the other hand, the non-compatibility of packaging printing with heavy items and pro-environmental policies, are some of the factors obstructing the growth of the market. Nevertheless, current sustainable packaging trends, customer preferences, innovative packaging materials, as well as cutting-edge- technological developments in packaging, with participation from leaders in the industry, government, and research would support the growth of the market.
Major Players
Players leading the global packaging printing market include Amcor Limited, AR Packaging Group AB, Belmont Packaging, DS Smith Packaging Limited, Canon, Inc., Duncan Printing Group, Eastman Kodak Co., Dunmore, E.I. Du Pont Nemours and Company, Edelmann Packaging MĂ©xico S.A. De C.V., Xerox Corporation, and Xeikon N.V. among others.
Segments
For a better understanding, the report has been segmented into three key dynamics:
By Printing Technology : Flexography, Gravure, and Digital
By Application : Food & Beverage, Cosmetic, and Pharmaceutical, among others.
By Regions : North America, Europe, Asia Pacific, and the Rest-of-the-World.
Geographical Analysis
The Asia Pacific region would continue its dominance over the global packaging printing market throughout the forecast period. The region comprises both large and fast-growing markets. The burgeoning food & beverages industry lead the regional market. Also, the augmented demand for convenient-packaged food products is fostering the growth of the regional market. Organized retailing is developing rapidly in countries such as India and China, which would support the growth of the regional market.
Heading with the lucrative opportunities in the packaging printing industry led by the growing food packaging trends in the region such as the popularity of brick liquid cartons, flexible plastic with small, affordable pack sizes and shaped liquid cartons. Dairy products, Savory Snacks, and Confectionary, and the preference of low-income consumers are some of the factors increasing the popularity of these cartons, respectively.
The European region ranks second in the global packaging printing market. The region is estimated to register a steep rise in the demand over the review period. The increase in the per capita income is expected to boost printing revenues. Consumer expenditures are increasing overall, especially in F&B and leisure, which is estimated to supports the packaging printing market in Europe.
Higher incomes and urbanization translate to higher concentrations of people, which creates huge opportunities in the growth of the market in the region. The emergence of diversified technologies is creating exciting opportunities in the packaging industry in the region.
Competitive Analysis
Highly competitive, the Packaging Printing market appears fragmented due to the presence of several big and small-scale players. Key players form a competitive landscape, adopting strategic trends such as acquisition, collaboration, and partnership. To meet their business expansion goals, they acquire promising companies in the emerging markets.
These players are also keen on taking care of ecological norms. While manufacturing cardboard boxes, they reinforce corrugation inside the panels without affecting the containers which reduce both production cost and wastages.
In order to create new opportunities in the market; manufacturers rely on innovation, keeping themselves abreast of the new technologies and latest consumer trends. They continually invest their time and money into developing the latest technologies which can increase productivity and add value.
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