Market Overview
The market experts project that the global Packaging Printing Market will achieve revenue of USD 508.51 billion by 2028. The detailed market study has been done based on many primary and secondary sources. The market is expected to have a Compound Annual Growth Rate of 7.8%.
The technology of packaging printing is used for enclosing and protecting different types of goods before they are distributed, sold, stored, and used. The primary requirement of packaging printing is to enclose a product but it has become an important means of brand promotion for companies.
The Packaging Printing Market has witnessed huge growth in recent times due to increasing innovations that have helped in creating stronger bonding between customers and the companies.
The use of digital printing has made it possible to produce at a higher rate within less time. Digital printing has also reduced the use of energy. All these contribute to the positive growth of the Packaging Printing Market.
The global market of Packaging Printing was affected during the pandemic time. However, essential services such as healthcare and food & beverages supported the Packaging Printing Market.
The adoption of newer technologies such as recycled materials, digital printing, and the use of bio-degradable packaging materials are creating more growth opportunities for this market.
The high cost of flexography and offset printing may restraint the steady growth of this market.
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Market Segmentation
The market segmentation of the global Packaging Printing Market is done based on Printing technology, material, packaging type, ink type, and region.
Based on packaging type, the two sectors are rigid packaging and flexible packaging.
Based on printing technology, the sectors are offset, digital, flexography, Gravure, and screen printing. Offset used to be a popular choice but currently digital and flexography are the preferred choices so these sectors are expected to grow in the coming years.
Based on materials used, the sub-divisions of the global Packaging Printing Market are plastics, glass, metal, paper & paperboards.
Based on the type of ink used, the sub-divisions are aqueous ink, latex ink, solvent-based ink, Dye sublimation ink, UV-curable ink, and water-based ink.
Regional Classification
The global Packaging Printing Market is very large and it is further divided into regions- North America, Asia-Pacific, Europe, and the Rest of the World. The largest Packaging Printing Market Share is occupied by the North American region. The key factors that contribute to this growth in this region are increased demand for packing pouches, sustainability, brand promotion, improved quality of packing materials.
The Asia-Pacific region is expected to grow steadily during the forecast period due to an increase in consumer base, increased quality awareness, more investments by market players, adoption of modern technologies, and consistent growth in the food & beverage and healthcare sectors.
Industry News
Mondi, a renowned global packaging and paper group had launched a web platform named myMondi.net to assist professionals from the design and printing industry.
In June 2019, Artistic Carton Mill was taken over by Graphic Packaging. This led to the expansion of the business portfolio and production capacity of the company.
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