by Packaging printing entails the use of digital and flexographic printing technologies to apply visual content such as product information, branding, and imagery to packaging substrates including paper, plastic films, aluminum foils, and glass. Packaging printing allows manufacturers to effectively communicates product attributes while also enhancing aesthetic appeal. The broadening scope of application in food, beverage, pharmaceutical, cosmetics and personal care industries is majorly driving the need for creative and sustainable packaging designs.
The global Packaging Printing Market is estimated to be valued at US$ 375.05 Mn in 2023 and is expected to exhibit a CAGR of 8.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The demand for innovative and sustainable packaging formats is a major trend spurring growth of the packaging printing market. Packaging manufacturers are continuously innovating their product designs and capabilities to attract consumers and comply with environmental regulations. Printed flexible packaging such as stand-up pouches, shrink sleeves and wrap-around labels made from recycled materials are gaining traction. Furthermore, digital printing technologies allow for customized short-run printing and on-demand versions which reduce wastage. Sophisticated printing capabilities help convey complex product details holographically or through augmented reality. Ongoing advancements in printing resolution and substrate compatibility are further expanding the applications of packaging printing
SWOT Analysis
Strength: Packaging printing provides convenience, protection and customizable information to consumers. It helps differentiate products on shelf.
Weakness: Cost of modern printing technologies is high which increases packaging costs. Packaging standards and regulations are complex and vary widely across regions.
Opportunity: Growth of e-commerce is raising demand for customized and branded packaging printing. Digital printing offers opportunities for on-demand packaging with variable data.
Threats: Rising environmental awareness increases pressure to shift to sustainable packaging solutions. Stricter regulations on material usage can impact certain printing technologies.
Key Takeaways
The Global Packaging Printing Market Size is expected to witness high growth. The market size is projected to reach US$ 375.05 Mn in 2023 and expected to grow at a CAGR of 8.0% during the forecast period of 2023 to 2030.
Regional analysis comprises Asia Pacific dominates the market currently due to high growth in e-commerce and rising disposable incomes in countries like China and India. Europe is another major regional market for packaging printing supported by stringent regulations and consumer demand for sustainable packaging.
Key players operating in the packaging printing market are Mondi PLC, Ahlstrom-Munksjö Oyj, Autajon CS, Huhtamaki Flexible Packaging (Huhtamaki Oyj) and Avery Dennison Corporation. Digital printing is gaining popularity among brands for packaging customization and versioning. Companies are focusing on developing sustainable packaging materials and solutions to meet environmental standards.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
