Digital Printing Packaging Market growth is Plummeting Demand for Premium Packaging Upcoming Years :
Market Research Future has Published a Half-Cooked Research Report on the Global Digital Printing Packaging Market growth.
Market Synopsis
As per a detailed analysis by Market Research Future (MRFR), the global Digital Printing Packaging Market growth is predicted to garner a CAGR of 10.5% during the forecast period (2017-2023). Due to the surging application of digital printing, the packaging industry is likely to experience a revolution. Digital printing is considered one of the prominent printing technologies for labels and packaging, which has been recognized by brand owners preferring quick-turnaround capability. Digital printing is revolutionizing the packaging sector by offering custom variations which offer products on-shelf distinctions. The concept for digital printing for packaging has evolved to attract consumers. The method constitutes of printing of digital texts or images on product packaging.
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Market Potential and Pitfalls
Digital Printing Packaging Market growth has witnessed a tectonic surge over the past few years due to the surging demand from the personal care and F&B industries. As digital printing is more cost-efficient and time savings, it is extensively in practice. It also helps to cover entire information while offering better print quality compared to other techniques. Such factors are estimated to dictate the growth trajectory of the market across the globe. Digitally printed packages also help to improve the workflow, enable faster marketing, and allows innovative marketing. The recent developments in digital printing approach for carton cutting, carton creasing, and other finishing technologies have widened the application area in folding cartons, corrugated packaging, and flexible packaging.
Packaging substrates like labels, cartons, and corrugated boxes have further offered the eye-catching commercialization in order to draw impact on the consumers. One of the recent trends in the Digital Printing Packaging Market growth is the custom caps which opens up colorful choices for the brand owners. This is likely to impact the market growth positively during the assessment period. Industries will produce electronics, cosmetics, soft drinks, alcoholic drinks, and household items which demands premium packaging. This is likely to create new growth opportunities for the market.
On the contrary, fluctuation in the prices of raw materials is considered to curb the growth of the market during the assessment period. Moreover, the high manufacturing cost is considered to deter the market growth in the foreseeable future.
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Digital Printing Packaging Market growth: Segmental Analysis
The Digital Printing Packaging Market growth has been segmented on the basis of type, technology, application, and end-user.
By mode of type, the Digital Printing Packaging Market growth has been segmented into flexible packaging, labels, and others. Among these, the labels segment is likely to gain prominence owing to its multiple applications like displaying numbering and sequential barcodes, titles, variable text, or graphics, and also to add value to the product.
Based on technology, the Digital Printing Packaging Market growth comprises electrophotography, inkjet, and others.
The application segment comprises cans, boxes, bottles, and others.
Food & beverages, pharmaceuticals, personal care, electronics goods, and others comprise the end-user segmentation of Digital Printing Packaging Market growth. Among these, the food & beverage segment is likely to gain prominence in the coming years. The surging demand for branded and packaged products is likely to drive the segment. The increasing demand for labeling and product differentiation for their authentication further fuels the market growth in this segment.
Competitive Dashboard
The prominent players operating in the global Digital Printing Packaging Market growth comprises Weber Packaging Solutions Inc. (U.S.), W S Packaging Group, Inc. (U.S.), Xeikon N.V. (Netherlands), Xerox Corporation (U.S.), Mondi Group (South Africa), Hewlett-Packard Inc. (U.S.), Quad Graphics, Inc. (U.S.), E.I. du Pont de Nemours and Company (U.S.), Reel Appeal Limited (U.K.), and Labels in Motion (U.S.).
Regional Frontiers
Geographically, the Digital Printing Packaging Market growth span across regions, namely, Europe, Asia Pacific, North America, and the Middle East & Africa.
Considering the global scenario, the Asia Pacific region is estimated to dominate the global Digital Printing Packaging Market growth. The growth can be ascribed to the surging disposable income among the individuals, coupled with the changing lifestyle. The presence of emerging countries like India and China is anticipated to contribute to the growth of the market. In this region, China is likely to occupy the largest market share due to the evolving F&B and healthcare industries. Moreover, the large consumer base, growing manufacturing activities, and the overall positive economic environment are likely to dictate the growth trajectory of the regional market.
Industry Updates
May 16, 2019: SUN Automation Group will be introducing to the European market with the latest modular design of its CorrStream® technology. The digital printer has been designed to be the first built and designed for the corrugated industry.
