May 21, 2024

Packaging Printing Market Propelled by Digital Printing

Packaging printing plays a crucial role in product branding, marketing, convenient handling, storage and protection of products from damage. Printing technologies such as flexography, lithography, rotogravure and digital printing are used for printing designs, images, text, bar codes and other information on packaging materials such as paper, plastic, glass, metal and other substrates. The global Packaging Printing Market is estimated to be valued at US$ 432.06 Bn in 2024 and is expected to exhibit a CAGR of 9.6% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

Digital printing is gaining prominence in the packaging printing market owing to its benefits over conventional printing methods. Digital printing allows for on demand production in minimal quantities which reduces wastage. It also enables real time printing where designs can be changed quickly. This is ideal for products with short shelf lives or frequent changes in designs. Digital printing produces sharper images and texts and can be used for printing customized content on individual packs. Growing demand for small batch customized packaging from various end use industries like food and beverages, pharmaceuticals, consumer goods etc is fueling adoption of digital printing technology.

SWOT Analysis
Strength
: The packaging printing market benefits from high demand from the food and beverages industry. Growth in e-commerce is also driving demand for innovative packaging designs and printing services.

Weakness: Stricter environmental regulations regarding the use of certain inks and materials poses a challenge for companies. High initial investment requirements for setting up printing facilities is also a bottleneck.

Opportunity: Growing preference for sustainable and eco-friendly packaging opens up opportunities for players focusing on green materials and solutions. Rapid urbanization in developing regions boosts market potential.

Threats: Economic slowdowns can negatively impact consumer demand across industries relying on packaging. Rising raw material costs is also a concern due to volatility in commodities markets.

Key Takeaways
The Global Packaging Printing Market Scope is expected to witness high  over the forecast period.

Asia Pacific currently dominates with a 40% share of the global market revenues and is expected to maintain its lead through 2031. Factors such as rapid economic development, growing middle class, and expansion of food processing and consumer goods sectors continue to drive demand across the region.

Key players operating in the packaging printing market are Sanofi S.A, Pfizer, Inc., Merck & Co., Inc., GlaxoSmithKline plc., Bharat Biotech, Serum institute of India Pvt. Ltd., Biological E. Limited, Bio-Med, Bavarian Nordic, CSL Limited, Novartis AG, Vaxcyte, GSBPL, Taj Pharmaceuticals Limited, and Bavarian Nordic. Leading companies are investing in R&D to develop innovative anti-counterfeit technologies such as security inks, holograms, and hidden images to curb product duplication. Partnerships with packaging converters and printers also help expand production and market reach.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it