Digital Printing Packaging Market to Garner $49.9 Billion, at 9.1% CAGR, by 2031, Globally: Allied Market Research
The digital printing packaging market is driven by the fact that digital printing technology allows users to make last-minute changes before printing and offers superior print quality as compared to traditional printing techniques.
Wilmington, Delaware, Oct. 30, 2023 (GLOBE NEWSWIRE) — Allied Market Research published a report, titled, “Digital Printing Packaging Market By Packaging Type (Corrugated Packaging, Folding Cartons, Flexible Packaging, Labels), By Printing Technology (Inkjet Printing, Electrophotography Printing), By End-User Industry (Food & Beverages, Pharmaceuticals, Electronics, Personal Care & Cosmetics, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031“. According to the report, the global digital printing packaging industry generated $20.6 billion in 2021, and is anticipated to generate $49.9 billion by 2031, witnessing a CAGR of 9.1% from 2022 to 2031.
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Prime determinants of growth
The digital printing packaging market is driven by the fact that digital printing technology allows users to make last-minute changes before printing and offers superior print quality as compared to traditional printing techniques. However, high maintenance costs, variation in the prices of raw materials, and lack of skilled operators hamper the market growth.
The labels segment to maintain its leadership status throughout the forecast period
On the basis of packaging type, the labels segment held the highest market share in 2021, contributing to more than two-thirds of the global digital printing packaging market, and is projected to maintain its leadership status throughout the forecast period, owing to extensive use of digital printing for label printing in the packaging industry. However, the flexible packaging segment is anticipated to witness the highest CAGR of 13.9% from 2022 to 2031, due to increase its adaptability in all types of industries for packaging purposes.
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The Food & Beverages segment to maintain its lead position during the forecast period
On the basis of end user industry, the food & beverages segment accounted for the largest share in 2021, accounting for nearly three-fifths of the global digital printing packaging market, and is estimated to maintain its lead position during the forecast period. This is attributed to extensive use of digital printing on the packets of products in the packaging industry.
Asia-Pacific to maintain its dominance by 2031
On the basis of region, Asia-Pacific held the highest market share in terms of revenue 2021, contributing to more than one-third of the global digital printing packaging market. This is due to large scale packaging of consumables, electronics, and other manufactured products. However, the LAMEA region is expected to manifest the fastest CAGR of 10.8% from 2022 to 2031. This is attributed to surge in industrialization and urbanization in the region.
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Leading Market Players: –
- WS Packaging Group Inc.
- Mondi PLC
- Eastman Kodak Co.
- Traco Manufacturing, Inc.
- Xerox Corporation
- Quad/Graphics Inc.
- Quantum Print and Packaging Ltd.
- HP Inc.
- WS Packaging Group, Inc.
- Xeikon N.V.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies, and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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