Global Digital Printing Packaging Market Size, Share & Industry Trends Analysis Report By Printing Technology (Inkjet and Electrophotography), By Packaging Type (Labels, Corrugated, Folding, and Flexible), By Industry, By Regional Outlook and Forecast, 2022 - 2028
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Get in-depth analysis of the COVID-19 impact on the Digital Printing Packaging Market
Market Report Description
The Global Digital Printing Packaging Market size is expected to reach $35.4 billion by 2028, rising at a market growth of 9.0% CAGR during the forecast period.
The rise in the demand for sustainable printing is likely to drive the growth of the digital printing for packaging market over the forecast period. Additionally, the market for digital printing for packaging is expected to rise in tandem with the growing need for flexible packaging. The cost-efficiency of digital printing for packaging is also expected to buffer the market's expansion. Furthermore, developing countries and funds invested in research & development activities will create further chances for the digital printing for packaging market to grow in the future years.
The demand for increased printing speed and quality has fueled the growth of the digital printing packaging market. Furthermore, attractive packaging aids in product marketing and sales growth. Digital printing is more popular for packaging and displays that are immediately visible in retail stores. As a result, the demand for digital printing among packaging industries has increased.
Printing on a product's packaging is a vital aspect for any business because it draws more customers to acquire their goods. The customer must be able to see the information on the packaging in order to acquire the correct details regarding the product. Digital printing technology is widely employed across various sectors because it produces high-quality packaging printing. Many firms advertise their products through elaborate labeling, varied packaging techniques, recyclable materials, and various colors. If the packaging is of great quality, it implies that the product must also be of excellent quality, which is critical in building and maintaining a brand image.
COVID-19 Impact Analysis
The emergence of COVID-19 has caused a halt in manufacturing and logistic activities around the world, resulting in supply chain disruption and hampered the growth of the digital printing packaging market. Construction, industrial, lodging, and tourism businesses were all severely impacted by the COVID-19 pandemic. Manufacturing operations have been interrupted or restricted. On a global scale, transportation and construction activities, as well as their supply networks, were disrupted. This resulted in a decrease in digital printing packaging manufacturing as well as demand in the market, limiting the digital printing packaging industry's growth.
Market Growth Factors
Reduced Turnaround Time With Increased Accuracy And Quality
When it comes to delivery speed, modern business professionals have higher standards than ever before. Unlike the traditional printing packaging approaches in which, packaging customers would make huge, expensive orders and wait weeks for their printed goods to arrive, the digital printing packaging technology enables the company to deliver orders in a very short period of time. Because there is less tooling, such as print plates, and less manual pre-press procedures, digitally printed packaging enables a more accelerated production process that impresses business owners with its rapidity.
Increased Flexibility And Affordability
It can be challenging for business owners to employ traditional print plates along with flexible packaging materials. Digital printing, unlike traditional printing technologies, may be used on both rigid as well as flexible substrates. Digital printing can be used on wood, cotton, hard plastic, and metal in addition to flat cardboard boxes. Clear films, which are commonly used to pack fruits and other goods, can also be utilized with digital printing. Because the cost per unit is much lower than offset printing for mid and low-volume orders, an increasing number of cost-conscious enterprises are turning to digital printing. Because of lower setup and tooling expenses, money is saved up front.
Market Restraining Factors
NHigher Initial Cost And Declining Popularity
The initial expenses of digital printers are costly, and installation and maintenance costs are even higher, making it impossible for small businesses to invest in such costs. Because of the high cost of toner and inkjet technology, small businesses in the digital printing sector are being squeezed out by current technological equipment. Moreover, due to the surging initial cost of the equipment, market players are being compelled to increase the prices of the outputs. This is posing a challenge for operators as well as customers.
Printing Technology Outlook
Based on the printing technology, the Digital Printing Packaging Market is bifurcated into Inkjet Printing and Electrophotography Printing. In 2021, the inkjet printing segment procured the highest revenue share of the digital printing packaging market. The growth of the segment is rising due to the increasing utilization of inkjet printing technology in flatbed printers. To reproduce digital images, flatbed digital printing typically employs an inkjet printer. Inkjet printing is often regarded as the digital printing technology of the future. UV curable inks are used to print digital images on flat surfaces in this method.
Packaging Type Outlook
On the basis of Packaging Type, the Digital Printing Packaging Market is segmented into Corrugated Packaging, Folding Cartons, Flexible Packaging, and Labels. In 2021, the corrugated packaging segment garnered a significant revenue share of the digital printing packaging market. The rising growth of the segment is owing to the surging adoption of corrugated cardboard across multiple industries. From moving houses to posting laptops and packing food products, corrugated cardboard is utilized in a variety of packaging applications.
By the industry, the Digital Printing Packaging Market is segregated into Food & Beverages, Pharmaceuticals, Electronics, Personal Care & Cosmetics, and Others. In 2021, the food & beverages segment registered the largest revenue share of the digital printing packaging market, the increasing growth of the segment is owing to the constant growth of the food and beverages industry all over the world. Due to the fact that the lifestyle of people all over the world is increasingly becoming hectic, they are becoming more prone to processed food and beverage items.
|Market size value in 2021||USD 19.7 Billion|
|Market size forecast in 2028||USD 35.4 Billion|
|Historical Period||2018 to 2020|
|Forecast Period||2022 to 2028|
|Revenue Growth Rate||CAGR of 9% from 2022 to 2028|
|Number of Pages||220|
|Number of Tables||372|
|Report coverage||Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Competitive Landscape, Companies Strategic Developments, Company Profiling|
|Segments covered||Printing Technology, Packaging Type, Industry, Region|
|Country scope||US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria|
Region-wise, the Digital Printing Packaging Market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. In 2021, Asia-Pacific accounted for the largest revenue share of the digital printing packaging market. Because of the growing demand from the food and beverage industry, China, India, and Japan are the top three consumers. This is due to the strong demand for food packaging, as well as the growing emphasis on packaged items sharing information about their storage life, content, and nutritional content. Because of considerable demand from the label sector. Hence, this factor is accelerating the growth of the regional digital printing packaging market.
Free Valuable Insights: Global Digital Printing Packaging Market size to reach USD 35.4 Billion by 2028
KBV Cardinal Matrix - Digital Printing Packaging Market Competition Analysis
The major strategies followed by the market participants are Product Launches. Based on the Analysis presented in the Cardinal matrix; HP, Inc. and DuPont de Nemours, Inc. are the forerunners in the Digital Printing Packaging Market. Companies such as Mondi PLC, Eastman Kodak Co. and Xeikon N.V. are some of the key innovators in Digital Printing Packaging Market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include HP, Inc., Xerox Corporation, Mondi Plc, Eastman Kodak Company, DuPont de Nemours, Inc., Quad/Graphics, Inc., DS Smith Plc, Traco Packaging (Traco Manufacturing, Inc.), and Xeikon N.V.
Strategies deployed in Digital Printing Packaging Market
» Partnerships, Collaborations and Agreements:
- Jun-2022: Mondi partnered with EW Technology, an Austrian mechanical engineering business. Following this partnership, the companies aimed to offer a new, sustainable, and more efficient machine for paper pallet wrapping to small-to-medium production lines.
- May-2022: Mondi came into a partnership with beck packautomaten, a vendor of packaging systems and solutions. With this partnership, the companies aimed to introduce FunctionalBarrier, a robust and flexible paper-based packaging solution to the eCommerce sector. Moreover, the new product would allow online retailers to eliminate the utilization of unnecessary plastic for packaging.
- Mar-2022: Kodak came into a partnership with GDM, a leader in converting and packaging solutions. Under this partnership, Kodak would integrate GDM's disposable hygiene production capabilities with its high-speed inkjet technology in order to make digital imprinting a cost-effective, highly flexible, and an efficient end-to-end manufacturing process
- Aug-2020: Xeikon entered into a partnership with Electronics For Imaging, a digital printing technology company. Following this partnership, Xeikon aimed to integrate EFI's Jetrion inkjet printing systems into its portfolio in order to expand the range of its digital label printing capabilities and technology, which addresses extremely specific demands of label printers and converters.
- Jun-2020: Kodak partnered with Uteco, an innovative solutions provider. Following this partnership, the companies aimed to launch the Sapphire EVO W, the first digital packaging press to meet flexo's productivity along with gravure's quality.
» Product Launches and Product Expansions:
- Apr-2022: Mondi unveiled PerFORMing Monoloop and Mono Formable PP, two sustainable packaging solutions. With this launch, the company aimed to offer efficient packaging solutions for the food sector. In addition, the new PerFORMing Monoloop and Mono Formable PP are a recyclable paper-based tray and a semi-rigid plastic tray.
- Oct-2021: Kodak launched KODAK ASCEND Digital Press, KODAK PRINERGY, and KODAK PROSPER, additions to its comprehensive offset and digital solutions portfolio. With this launch, the company aimed to streamline printers in bolstering their profitability while also capitalizing on new growth prospects.
- Oct-2021: Xeikon released the Xeikon PX2200 and Xeikon PX3300, two new label presses. The new products leverage the Panther DuraCure UV technology of the company in order to manufacture high-gloss labels with high scruff resistance.
- May-2021: HP rolled out HP Indigo, a new range of Indigo Presses. With this launch, the company aimed to expand a new variety of features into its drupa portfolio.
» Acquisitions and Mergers:
- Feb-2022: HP acquired Choose Packaging, a Scottish paper bottle manufacturer. Through this acquisition, the company aimed to integrate Choose's capabilities into its 3D Printing and Personalization portfolio in order to scale its technology and expand its reach to more customers all over the world.
- Jun-2021: Mondi completed its acquisition of Olmuksan, a corrugated packaging specialist. Through this acquisition, the company aimed to strengthen its position across the rapidly-growing corrugated market in Turkey and expand its portfolio for new and existing customers across the region.
- Mar-2020: Xerox took over MailaDoc, a subsidiary of ITEC, and ITEC. With this acquisition, the company aimed to grow the small and midsize business market via the integrated capabilities of a robust workplace solutions portfolio for SMBs and prevalent local technology vendors.
Scope of the Study
Market Segments Covered in the Report:
By Printing Technology
By Packaging Type
- Food & Beverages
- Personal Care & Cosmetics
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- HP, Inc.
- Xerox Corporation
- Mondi Plc
- Eastman Kodak Company
- DuPont de Nemours, Inc.
- Quad/Graphics, Inc.
- DS Smith Plc
- Traco Packaging (Traco Manufacturing, Inc.)
- Xeikon N.V.
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North America Digital Printing Packaging Market Report 2022-2028
Europe Digital Printing Packaging Market Report 2022-2028
Asia Pacific Digital Printing Packaging Market Report 2022-2028
How valuable will the digital printing packaging market be in the future?
The global digital printing packaging market size is expected to reach $35.4 billion by 2028.
What are the key driving factors and challenges in the digital printing packaging market?
Reduced Turnaround Time With Increased Accuracy And Quality are driving the market in coming years, however, Higher Initial Cost And Declining Popularity limited the growth of the market.
What are the major top companies in the competitive landscape?
HP, Inc., Xerox Corporation, Mondi Plc, Eastman Kodak Company, DuPont de Nemours, Inc., Quad/Graphics, Inc., DS Smith Plc, Traco Packaging (Traco Manufacturing, Inc.), and Xeikon N.V.
Which segment shows a high revenue share of the digital printing packaging market in 2021?
The Labels segment shows high market share in Global Digital Printing Packaging Market by Packaging Type in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $13.9 billion by 2028.
Which region is fastest growing region in the market?
The Asia Pacific is the fastest growing region in the Global Digital Printing Packaging Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $13.2 billion by 2028.
Which segment shows the high growth rate of the digital printing packaging market over the forecast period?
The Personal Care & Cosmetics segment has high growth rate of 9.3% during (2022 - 2028).