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Global Packaging Printing Market it is anticipated to reach at market value of US$ 540 Bn by 2027
Bizizz Market Research has recently published a research report, “Packaging Printing Market By Packaging Type (Corrugated, Flexible, Folding, cartons Labels & tags and Others (wood and textile & fabric)), Printing Technology (Flexography, Rotogravure, Offset, Screen printing and Digital), Printing ink(Solvent-based, UV-based, Aqueous, Others (latex and dye-sublimation inks)) Application (Food & beverages, Household & cosmetics, Pharmaceuticals and Others (automotive and electronics)), Component, and Region-Global Industry Trends, Estimation & Forecast, 2019 - 2027”.
As per the report, Global Packaging Printing Market was valued at US$ XX Bn in 2018 and it is anticipated to reach at market value of US$ 540 Bn by 2027, witnessing a CAGR of 4.8 % during the forecast period. Rising concerns for protection against counterfeit along with rapid industrialization is propelling its market growth.
Packaging printing offers different advantages including advanced aesthetic appeal, protection from counterfeit. Such advantages offered by packaging printing are anticipated to contribute to the growth of the packaging printing market worldwide. Growing demand from several industries coupled with exponential industrialization is key factors propelling its market growth on the global packaging printing market. There are different unexplored and untapped markets in developing economies including Brazil, China, India, and Argentina.
Different types of technologies and inks are introduced for packaging printing in contribution to new product launches and advanced technologies globally. The high growth of different end-use industries in various countries is propelling global packaging printing market. The exponential growth of the packaging industry is contributing to the market growth of the packaging printing market. Raising purchasing power along with increased spending power of consumers are key factors supporting its growth.
The Packaging Printing market is anticipated to register a CAGR of over 4.8% during the forecast period.
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By printing technology, Flexography segment held a prominent share in Global Packaging Printing Market in 2018.
Flexography printing segment is leading the global packaging printing market globally during the forecast period. It is widely adopted due to different features including the capability to withstand the extreme weather conditions and higher quality of printing. The lifecycle of flexography printing is greater in contrast to different technologies. Flexography printing technology is dependable in contrast to various printing technologies. Such factors are stimulating the market demand of flexography segment. In terms of growth rate, the digital printing segment is anticipated to exhibit exponential growth during the forecast period.
The Asia Pacific is Anticipated to Dominate the Global Packaging Printing Market during the Forecast Period.
The Asia Pacific region is projected to lead the worldwide packaging printing market during the forecast period followed by North America and Europe regions. The key factor propelling its market growth is organizations involved in producing its packaging printing options at a lesser cost. The demand for packaging printing is rising exponentially with an increasing population growth coupled with purchasing power in developing countries. The exponential growth of end-use industries in different nations of Asia Pacific region contributing to it’s the market growth. Asia Pacific market is supported by emerging countries such as India and China.
Global Packaging Printing market was highly fragmented among the number of local and global players. The market is propelling by the contribution of different new establishments coupled with innovative offerings creating a competitive market for packaging printing.
Prominent players operating in the Global Packaging Printing Market are Toppan Printing Company, Amcor Limited, Quantum Print and Packaging Limited, Graphics Packaging Holding Company, Mondi plc, Sonoco Products Company, Duncan Printing group, Quad/Graphics, Constantia flexible, WS Packaging Group, among others.
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