WASHINGTON, July 05, 2022 (GLOBE NEWSWIRE) -- Vantage Market Research’s recent analysis of the Global Digital Printing Packaging Market finds that the increase in consumer shift towards convenience and sustainability expedites market growth. In addition, growing product shelf-life and cost-effectiveness are expected to influence the significant growth of the Digital Printing Packaging Market during the forecast period.
The Global Digital Printing Packaging Market revenue was valued at USD 19.7 Billion in 2021.
The Global Digital Printing Packaging Market size is forecasted to reach USD 32.6 Billion by 2028 and is expected to expand exhibiting a Compound Annual Growth Rate (CAGR) of 8.8% during the forecast period; states Vantage Market Research, in a report, titled “Digital Printing Packaging Market Size, Share & Trends Analysis Report by Printing Inks (Solvent-Based, UV-Based, Aqueous, Other Printing Inks (Latex and Dye Sublimation Inks), by Technology (Thermal Transfer Printing, Inkjet Printing, Electrophotography & Electrostatic Printing, Other Technologies), by Format (Full Color Printing, Variable Data Printing, Large Format Printing, Other Formats), by Packaging Type (Corrugated, Folding Cartons, Flexible Packaging, Labels), by End-Use (Food & Beverage, Pharmaceuticals & Healthcare, Household & Cosmetic Products, Other End Uses), by Region (North America, Europe, Asia Pacific, Latin America) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)”.
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Key Insights & Findings from the Report:
- According to our primary respondents’ research, the Digital Printing Packaging market is predicted to grow at a CAGR of roughly 8.8% during the forecast period.
- The Digital Printing Packaging market was estimated to be worth roughly USD 19.7 Billion in 2021 and is expected to reach USD 32.6 Billion by 2028; based on primary research.
- On the basis of region, Asia Pacific is projected to dominate the worldwide Digital Printing Packaging market.
Market Dynamics:
Drivers:
Increase in Consumer Shift towards Convenience and Sustainability to Fuel Global Digital Printing Packaging Market
The increasing consumer shift towards convenience and sustainability is expected to fuel the growth of the Digital Printing Packaging Market during the forecast period. Products that are simple to open, store, use, carry, and dispose of are in high demand due to changing consumer preferences brought on by busy lifestyles and smaller home units. In turn, this favors product packaging that fits with contemporary lifestyles. For various items, on-the-go choices can be used with handy packaging. In addition to food and drink, convenient packaging is increasingly used for prescription and personal care products and healthy products that support active lifestyle choices. Suitable packaging is a significant factor in consumer decision-making. It affects their behavior and influences their preference for a specific style or design of the packaging. Companies that produce consumer packaged goods are responding to this need by expanding their selection of smaller-sized snacks. Therefore, flexible packaging across several end-user industries, including food and beverage, medicines, and home and personal care, will be influenced by the changing consumer lifestyle and consumption habits.
Increased Product Shelf-life and Cost-effectiveness to Augment Market Growth
The increase in product shelf-life and cost-effectiveness is anticipated to augment the growth of the Digital Printing Packaging Market within the estimated period. The need for flexible packaging has increased due to the demand for handy items. Flexible Plastic Packaging is more cost-effective than other types of packaging because it uses fewer resources and energy during the packaging process, making it readily available at affordable prices and taking up 35 percent less space on shop shelves. The production of 780 thousand flexible pouches uses 74 percent less natural gas, 64 percent less crude oil, and 87 percent less coal than the production of rigid clamshell containers, according to Robbie Fantastic Flexibles, a member of the Flexible Packaging Association. Additionally, consumers' preferences have gradually shifted from using conventional home cooking methods to purchasing packaged goods.
On the other hand, factors such as variation in the prices of raw materials have hurt the profitability of the printing industry. And high maintenance costs and the requirement for the skilled operator are expected to hamper the market's growth over the forecast period. Moreover, emerging economies and the increasing investment in Research and Development (R&D) activities are expected to provide potential growth opportunities for the market.
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Segmentation of the Global Digital Printing Packaging Market:
- Printing Inks
- Solvent- Based
- UV-Based
- Aqueous
- Other Inks (Latex and Dye Sublimation Inks)
- Technology
- Thermal Transfer Printing
- Inkjet Printing
- Electrophotography & Electrostatic Printing
- Other Technologies
- Format
- Full Color Printing
- Variable Data Printing
- Large Format Printing
- Other Formats
- Packaging Type
- Corrugated
- Folding Cartons
- Flexible Packaging
- Labels
- Other Types
- End-Use
- Food & Beverage
- Pharmaceuticals and Healthcare
- Household & Cosmetic Products
- Other End Uses
- Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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COVID-19 Impact Analysis:
The outbreak of COVID-19 has affected almost all industries globally. Several manufacturing and development facilities across the globe were forced to shut down their operations during the initial stages of the pandemic. State and National Governments globally implemented lockdown measures and ensured social distancing norms to restrict the fast spread of the pandemic. In addition, the financial crisis which followed right after the pandemic led to a significant delay in the commercial roll-out of the pharmaceutical and other industries. As a result, several small and medium-scale companies witnessed a substantial drop in income. The industries are considered as the backbone of various technology providers and are trying to recover since the emergence of the COVID-19 pandemic in 2020. As a result, market players faced numerous challenges in the view of disruptions in the supply chain due to the pandemic.
Things are expected to improve in the second half of 2022 as operations of the players are resuming leading to more supplies returning on track.
Vantage Market Research’s analysis of the Global Digital Printing Packaging Market has taken into consideration the scope and impact of the COVID-19 pandemic on the global market. The analysis has assessed and anticipated the market size and growth trends for all the regions and countries based on the following data points:
- Impact Assessment of COVID-19 Pandemic
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- Quarterly Market Revenue Forecast by Asia Pacific 2020 & 2021
- Key Strategies Undertaken by Companies to Tackle COVID-19
- Long-Term Dynamics
- Short-Term Dynamics
The report on Digital Printing Packaging Market highlights:
- Assessment of the market
- Premium Insights
- Competitive Landscape
- COVID Impact Analysis
- Historical Data, Estimates, and Forecast
- Company Profiles
- Global and Regional Dynamics
Regional Analysis:
Asia Pacific Dominated the Global Digital Printing Packaging Market
Asia Pacific has dominated the Global Digital Printing Packaging Market in 2021 and is likely to continue the same trend during the forecast period. China dominated the region in 2021. This is attributable to the rising e-retail sales in this region. Furthermore, the increase in convenience packaging in the food industry, along with the growing demand for sustainable printing, is also anticipated to augment the regional growth of the market.
Browse market data Tables and Figures spread through 145 Pages and in-depth TOC on "Digital Printing Packaging Market Size, Share & Trends Analysis Report by Printing Inks (Solvent-Based, UV-Based, Aqueous, Other Printing Inks (Latex and Dye Sublimation Inks), by Technology (Thermal Transfer Printing, Inkjet Printing, Electrophotography & Electrostatic Printing, Other Technologies), by Format (Full Color Printing, Variable Data Printing, Large Format Printing, Other Formats), by Packaging Type (Corrugated, Folding Cartons, Flexible Packaging, Labels), by End-Use (Food & Beverage, Pharmaceuticals & Healthcare, Household & Cosmetic Products, Other End Uses), by Region (North America, Europe, Asia Pacific, Latin America) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)".
List of Prominent Players in the Digital Printing Packaging Market:
- Xeikon N.V.
- WS Packaging Group Inc
- Xerox Corporation
- Mondi PLC
- Eastman Kodak Co.
- Traco Manufacturing Inc.
- Dupont
- Quad/Graphics Inc.
- Quantum Print & Packaging Ltd.
- HP Inc
Recent Developments:
October 2020: Thimm Packaging Group sold its Puebla, Mexico, manufacturing site to the Tri-Wall group to ensure an adequate supply of solitary and recyclable multi-material wrappers to the customer base across North America. Furthermore, the company aims to focus more on expanding its European domestic industries.
April 2020: Kodak unveiled the SONORA NX2 Process Free Plate to provide more efficient printing solutions to Japanese newspapers and media houses. The SONORA NX-2 Plate is purpose-specific to shave off printing time and costs. However, the performance quality is not likely to be compromised.
Key questions answered in the report:
- Which regional market will show the highest and rapid growth?
- Which are the top five players of the Digital Printing Packaging Market?
- How will the Digital Printing Packaging Market change in the upcoming six years?
- Which application and product will take a lion’s share of the Digital Printing Packaging Market?
- What is the Digital Printing Packaging market drivers and restrictions?
- What will be the CAGR and size of the Digital Printing Packaging Market throughout the forecast period?
This market, titled “Digital Printing Packaging Market” will cover exclusive information in terms of Regional Analysis, Forecast, and Quantitative Data – Units, Key Market Trends, and various others as mentioned below:
| Parameter | Details |
| Market Size Provided for Years | 2016-2028 |
| Base Year | 2021 |
| Historic Years | 2016-2020 |
| Forecast Years | 2022-2028 |
| Segments Covered | • Printing Inks ° Solvent- Based ° UV-Based ° Aqueous ° Other Inks (Latex and Dye Sublimation Inks) • Technology ° Thermal Transfer Printing ° Inkjet Printing ° Electrophotography & Electrostatic Printing ° Other Technologies • Format ° Full Color Printing ° Variable Data Printing ° Large Format Printing ° Other Formats • Packaging Type ° Corrugated ° Folding Cartons ° Flexible Packaging ° Labels ° Other Types • End-Use ° Food & Beverage ° Pharmaceuticals and Healthcare ° Household & Cosmetic Products ° Other End Uses • Region ° North America ° Europe ° Asia Pacific ° Latin America ° Middle East & Africa |
| Region & Counties Covered | • North America ° U.S. ° Canada ° Mexico • Europe ° U.K ° France ° Germany ° Italy ° Spain ° Rest Of Europe • Asia Pacific ° China ° Japan ° India ° South Korea ° South East Asia ° Rest Of Asia Pacific • Latin America ° Brazil ° Argentina ° Rest Of Latin America • Middle East & Africa ° GCC Countries ° South Africa ° Rest Of Middle East & Africa |
| Companies Covered | • Xeikon N.V. • WS Packaging Group Inc • Xerox Corporation • Mondi PLC • Eastman Kodak Co. • Traco Manufacturing Inc. • Dupont • Quad/Graphics Inc. • Quantum Print & Packaging Ltd. • HP Inc |
| Report Coverage | Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis |
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