Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Global packaging printing market likely to the boost due to increasing demand for sustainable printing and increasing demand for creative packaging medium
The global packaging printing market size valued at USD 356.7 Billion in 2019 and projected to reach USD 501.66 Billion by 2027, registering a CAGR of 4.25%, during 2020-2027. The primary factors are the surge in demand for bottled water, alcoholic beverages, carbonated soft drinks, and packed juices. Additionally, the increasing demand for packaged beverages across the world estimated to boom the growth of global packaging printing in the upcoming periods. Moreover, the upsurge in consumer expenditure and the rise in demand for sustainable products boost the growth of the global packaging printing industry. The introduction of innovative, flexible packaging designs enables food and beverage products by manufacturers to enable the growth of the packaging printing industry.
Printing plays the role of transmitting information and publicizing products. High-quality packaging printing helps to attract consumers' attention and transmit product quality information, thereby increasing product sales. At the same time, the technically complex packaging and printing are conducive to consumers to distinguish authenticity and plays a vital role in product anti-counterfeiting. Furthermore, the increasing demand for visual appeal and innovative printing techniques on various consumable products would likely drive the growth of the global packaging printing market in the next few years. Also, the surge in consumer's preference for the consumption of packaged clean drinking water, and the bottled water will spur the packaging printing market growth worldwide.
Packaging Type Overview in the Global Packaging Printing Market
Based on packaging type, the global packaging printing market classified into Labels & Tags, Plastics, Glass, Metal, Paper and Paperboard, Flexible Packaging & Corrugated Boxes, Cartons, and Others. The Labels & Tags segment likely to lead the market by 2027, as it conveys knowledge of the ingredients of the food items and helps to spread awareness among the customers about the item, they are consuming, and labeling also helps to mention ingredients.
Printing Technology Overview in the Global Packaging Printing market
Based on printing technology, the global packaging printing market segregated into flexography printing technology, rotogravure printing technology, offset printing technology, digital printing technology, and screen printing. The flexography printing technology segment witnessed the largest market share in 2019 and will dominate by 2027. It is owing to it is printing on packaging and materials with uneven surfaces and uses rubber and plastic plates to ink the surfaces. Additionally, flexography printing technology has benefits such as printing on rough materials, high-speed production, fast-drying, and versatile inks, and low cost.
Printing Ink Overview in the Global Packaging Printing Market
Based on printing ink, the global packaging printing market classified into solvent-based ink, UV-curable ink, aqueous ink, and others. The UV-curable ink segment projected to lead the market by 2027. It is due to UV-curable ink used for indirect food contact applications. It is based on multifunctional polymerizable compounds and photoinitiators, which has a relatively high molecular weight.
Application Overview in the Global Packaging Printing Market
Based on the application, the global packaging printing market categorized into Food & Beverage, Household & Cosmetic Products, Pharmaceuticals, and Others. The Food & Beverage segment captured a higher market share in 2019 and will continue its dominance by 2027. It is due to the huge consumption of food and beverage in developing countries, along with the introduction of innovative, flexible packaging designs on these food products.
Regional Overview in the Global Packaging Printing Market
By geography, the Global Packaging Printing Market segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. The Asia-Pacific held a higher market share in 2019 and will continue its dominance by 2027. It is attributable to the increasing healthcare and food & beverage industries in these regions and the surge in disposable incomes and growing awareness among consumers regarding the quality of products.
Global Packaging Printing Market: Competitive Landscape
Companies such as Mondi plc, Sonoco Products Company, Graphics Packaging Holding Company, Quad/Graphics, Amcor Limited, Constantia Flexibles, Quantum Print and Packaging Limited, WS Packaging Group, Toppan Printing Company, Xerox Inc., HP Inc, N.V. Graphics Inc., and Duncan Printing group, are the key players in the Global Packaging Printing Market.