The global Digital Printing Packaging Market is anticipated to enhance its market value at a CAGR of 6 % throughout the forecast period of 2020 to 2027. Further, the global market for Digital Printing Packaging is estimated to grow by approximately USD 15 billion by the end of the year 2027.
The growth of the worldwide Digital Printing Packaging Market is driven due to the increasing demand for product presentability among various brands. Also, the global market is boosted due to the rising demand for digital printing from the personal care, food, and beverage industries.
The demand for Digital Printing Packaging is growing because of its faster marketing timings and flexibility in production. However, the fluctuations in raw material prices are predicted to hamper the growth of the global market for Digital Printing Packaging.
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According to the Digital Printing Packaging Market analysis, the global market has been classified based on application, technology, end-users, and product type. On the basis of packaging type segment, the global market for Digital Printing for Packaging has been segregated into flexible packaging, labels, and others. Of these, the labels segment is estimated to dominate the global market in the forecast period because it shows transportation details during shipping, displays product information, and brand identification symbols.
On the basis of application segment, the global market for Digital Printing for Packaging has been segregated into cans, boxes, bottles, and others. In terms of the technology segment, the worldwide market for Digital Printing for Packaging has been classified into electrophotography, inkjet, and others. Among all, the electrophotography segment is expected to account for the largest market share during the assessment period due to its superior quality.
Depending on the end-user industry, the global Digital Printing Packaging Market has been classified into pharmaceuticals and healthcare, household & cosmetic products, food & beverage, automotive and electronic industry, and others. Out of all, the food and beverage segment is projected to lead the global market throughout the review period.
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Regionally, the worldwide Digital Printing Packaging Market is divided into several regional areas such as Asia Pacific, North America, Latin America, Europe, and the rest of the world.
Among these, the Asia Pacific regional market for Digital Printing for Packaging is expected to generate a significant market share along with a 12% CAGR during the review timeframe. This region is expanding the global market size due to the rising cosmetic, food, and beverage industry in the countries like Japan, China, and India. Further, the regional market of Europe is projected to acquire a significant market growth throughout the assessment timeframe due to the rising growth in the organized retail sector, rising employment in the region, growing investors, and flexible monetary policies by the government in the region.
Key Market Players:
W S Packaging Group, Inc. (U.S.), Weber Packaging Solutions Inc. (U.S.), Xerox Corporation (U.S.), Xeikon N.V. (Netherlands), Hewlett-Packard Inc. (U.S.), Mondi Group (South Africa), E.I. du Pont de Nemours and Company (U.S.), Quad Graphics, Inc. (U.S.), Labels in Motion (U.S.), Reel Appeal Limted (U.K.)
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In March 2017, the prominent player Xeikon launched Xeikon PX3000 digital printer with an aim to allow different printing at a much higher speed. For instance, in February, the collaboration agreement was signed between the prominent player Elander’s AD and HP incfor the expansion of its LSI across Germany.
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