Packaging Printing Market Poised to Reach USD 526.54 Billion by 2028: The Brainy Insights

NEWARK, N.J., March 7, 2022 /PRNewswire/ -- As per the report published by The Brainy Insights, the global packaging printing market is anticipated to grow from USD 269.14 billion in 2020 to USD 526.54 billion by 2028, at a CAGR of 8.3% over the forecast period 2021-2028.

The demand for packaging printing is expected to rise alongside the packaging industry. The packaging industry is propelled by the growing increase of nuclear families, new packaging material, increasing customer comfort needs, and population aging. Another factor anticipated to drive consumer growth is the rising demand for packaged drinks. The growing demand for bottled water, alcoholic beverages, carbonated soft drinks, and canned juices has increased the purchase and consumption of bottled beverages.

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Packaging allows the product to be wrapped in protective material and avoid any external damage. Packaging printing or packaging and labelling is the written, electronic or graphic communication on the concerned package or a different but related label.

Packaging printing has broad uses in the food & beverage, pharmaceutical, household & cosmetic, electronic, and automobile industries. For example, packaging printing is commonly used in the food & beverage industry, owing to the growing trend of digital data printing on food packages to convey the product's shelf-life, content, and nutritional value. The rising demand for packaging printing applications would fuel market growth over the forecast timespan. Moreover, factors such as growth in demand for sustainable printing, growing demand for flexible packaging, cost-effectiveness, and decreased packaging waste, drive the packaging printing market. The growing healthcare sector and the popularity of using convenient packaging are the main drivers of the packaging printing market.

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Major players operating in the global packaging printing market are Amcor, Belmont Packaging, Constantia Flexibles GmbH, Coveris, Duncan Printing Group, E. I. du Pont de Nemours and Company, Graphics Packaging Holding Company, Mondi Plc, Paramount Packaging Ltd., Quad/Graphics, Inc., Quantum Print and Packaging Ltd., Shree Arun Packaging Co. (SAPCO), Sonoco Products Company, Toppan Printing Co., Ltd., and WS Packaging Group, Inc. among others. The key players are now concentrating on implementing new technology, product innovations, mergers & acquisitions, joint venture, alliances, and partnerships to improve their market position in the global packaging printing industry.

• Aiming to become the leading packaging materials and solutions provider, Amcor acquired Bemis Corporation in June 2019.
• In July 2019, Graphics Packaging acquired Artistic Carton Mill, converting facilities with branches in Auburn, Elgin, Indiana, and Illinois, a manufacturer of recycled paperboard and folding cartons. The acquisition has enhanced the company's product range and manufacturing ability and expanded regional presence to cater to the rising demand.

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The labels segment held the largest market share of around 28% and a market value of about USD 75.36 billion in 2020.

The type segment is divided into labels, glass, plastics, metal, paper and paperboard, cartons, flexible packaging & corrugated boxes, and others. Owing to its varied applications, such as displaying sequential barcodes and variable text, numbers, titles, or images, which adds value to the product, the labels segment accounted for the largest share of around 28% and a market value of about USD 75.36 billion in 2020.

The digital printing technology segment is anticipated to grow at the highest CAGR over the forecast period.

The printing technology segment includes flexography, rotogravure, offset, digital, and screen printing technologies. The excellent print-ability and visual appeal in the package printing industry would push the digital printing technology market. Digital printing of personal care & cosmetics items is widely favoured for package printing owing to its aesthetic appeal facilities to lure buyers at the point of sale (POS). Therefore, the digital printing technology segment is anticipated to grow at the highest CAGR over the forecast period.

The food & beverage segment is anticipated to grow at the highest CAGR over the forecast period.

The application segment includes food & beverage, pharmaceuticals, household & cosmetic products, and others. Increasing demand for product recognition and labelling in the food & beverage industry is driving growth in the packaging printing market. Therefore, the food & beverage segment is anticipated to grow at the highest CAGR over the forecast period.

Regional Segment Analysis of the Packaging Printing Market

• North America (U.S., Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and Rest of South America)
• Middle East and Africa (UAE, South Africa, Rest of MEA)

The regions evaluated for the packaging printing market include North America, South America, Europe, Asia Pacific, Middle East, and Africa. Because of the manufacturers' focus on developing low-cost packaging printing options, the Asia Pacific region emerged as the most prominent packaging printing market with around 39.5% share and a market value of about USD 106.31 billion in 2020. Also, a rise in consumer expenditure and an increase in demand for sustainable products in the region will drive market growth. Europe and North America follow the Asia Pacific. The factor that attributes to the market growth in North America and the European region is the high disposable income.

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About the report:

The global packaging printing market is analysed based on value (USD billion). All the segments have been analysed on a global, regional, and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining key market insight. The study includes Porter's five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.

About The Brainy Insights:

The Brainy Insights is a market research company that provides actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short period. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirements, whether they are looking to expand or plan to launch a new product in the global market.

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