The Global Flexographic Printing Market size is expected to reach $11.6 billion by 2030, rising at a market growth of 4.7% CAGR during the forecast period. In the year 2022, the Flexographic Printing Machine market attained a volume of 1,42,709 Units experiencing a growth of 4.9% (2019-2022).
China, Japan, South Korea, and India are among the key countries in the Asia Pacific flexographic printing market. The growing demand for quality, efficiency, and innovation, which the packaging industry demands. Thus, Asia Pacific registered $3,139.4 million revenue in the market in 2022. The availability of cheap and abundant labor, low energy prices, and relaxed environmental norms have aided the growth of packaging printing companies. Asia-Pacific is a major region for commercial printing, and this is anticipated to continue in the coming years due to the rising demand for commercial printing in emerging economies such as India, Japan, China, Indonesia, Thailand, and Vietnam. Some of the factors impacting the market are growth of the packaging industry, integration of digital technologies and hybrid equipment, and high cost of hiring skilled workforce.
The packaging industry has experienced continuous growth due to aspects such as rising disposable income, urbanization, and changing consumer preferences. As a result, there is a growing demand for packaging materials to package and protect various products. The packaging industry encompasses multiple packaging types, including flexible packaging (pouches, sachets, and bags), corrugated packaging (boxes and cartons), labels, shrink sleeves, and more. Additionally, integrating digital technologies and hybrid equipment is a significant driver of growth in the market. This integration represents a convergence of traditional flexographic printing with digital printing capabilities, offering a range of benefits to the printing industry. Digital technology allows quick job setup and changeovers, making it cost-effective for smaller print runs. As customer demands for customization and shorter print runs continue to grow, hybrid flexo-digital presses are positioned to play a central role in meeting these evolving needs and driving further expansion in the market.
However, skilled flexographic operators and technicians command higher salaries due to their expertise and specialized training. These elevated labor costs can significantly contribute to the overall production expenses of printing companies. Finding and attracting skilled workers can be a competitive and costly process. Companies may need to invest in recruitment efforts, including job postings, interviews, and relocation packages, if necessary, to acquire top talent. In response to labor challenges, some printing companies may invest in automation and advanced technology to reduce reliance on manual labor. While this can lead to long-term cost savings, the initial investment in automation can be substantial. The factors mentioned above will hamper the market growth.
On the basis of offering, the market is segmented into flexographic printing machine and flexographic printing ink. In 2022, the flexographic printing ink segment dominated the market with the maximum revenue share. Flexographic printing ink is a type of ink specially formulated for use in the flexographic printing process. Flexographic printing is a versatile and widely used method for printing on various substrates, such as paper, plastic, film, and labels. Flexo inks are designed to meet the specific requirements of this printing technique, ensuring high-quality, consistent, and durable prints. Special flexo inks are available for specific applications, such as metallic, security, and fluorescent inks, to create unique effects or meet specialized requirements.
By application, the market is fragmented into corrugated packaging, flexible packaging, labels & tags, cartons, and others. The flexible packaging segment garnered a significant revenue share in the market in 2022. Flexographic printing is a widely used method for printing on flexible packaging materials. Flexible packaging refers to materials that are easily bendable or can conform to the product's shape. This type of packaging is commonly used for various products, including snacks, beverages, pet food, personal care products, pharmaceuticals, and more. Flexible packaging materials can include multiple substrates such as plastic films (polyethylene, polypropylene, polyester), aluminum foil, laminates, paper, and more. Flexographic printing can effectively print on these materials.
| Report Attribute | Details |
|---|---|
| Market size value in 2022 | USD 8.1 Billion |
| Market size forecast in 2030 | USD 11.6 Billion |
| Base Year | 2022 |
| Historical Period | 2019 to 2021 |
| Forecast Period | 2023 to 2030 |
| Revenue Growth Rate | CAGR of 4.7% from 2023 to 2030 |
| Number of Pages | 349 |
| Number of Table | 650 |
| Quantitative Data | Volume in Units/Kilo Tonnes, Revenue in USD Million, and CAGR from 2019 to 2030 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling |
| Segments covered | Offering, Application, 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 |
| Growth Drivers |
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| Restraints |
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Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The Europe region covered a considerable revenue share in the market in 2022. Market’s expansion in Europe is aided by increased production and innovation in flexible packaging products. Manufacturers in Europe are simplifying the ink management process to improve quality and uniformity while lowering consumer costs. For example, Flint Group Packaging Inks will launch ONECode Universal Bases in Europe in September 2021 for optimum print flexibility and efficiency in Flexible Packaging. These universal bases enable converters to mix PU and NC inks from the same concentration range without duplicating goods in their inventory.
Free Valuable Insights: Global Flexographic Printing Market size to reach USD 11.6 Billion by 2030
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Mark Andy, Inc. (AIP, LLC), MPS Systems B.V. (Capital-A), Nilpeter A/S, Koenig & Bauer AG, Tresu Investment Holding A/S (Altor Digital AB), Codimag, Anderson & Vreeland Inc., Bobst Group SA, Edale Ltd (Canon Production Printing) and Barry-Wehmiller Group, Inc.
By Application
By Offering (Volume, Units/Kilo Tonnes, USD Million, 2019-2030)
By Geography
The Market size is projected to reach USD 11.6 billion by 2030.
Growth of the Packaging Industry are driving the Market in coming years, however, High Cost of Hiring Skilled Workforce restraints the growth of the Market.
Mark Andy, Inc. (AIP, LLC), MPS Systems B.V. (Capital-A), Nilpeter A/S, Koenig & Bauer AG, Tresu Investment Holding A/S (Altor Digital AB), Codimag, Anderson & Vreeland Inc., Bobst Group SA, Edale Ltd (Canon Production Printing) and Barry-Wehmiller Group, Inc.
In the year 2022, the Flexographic Printing Machine market attained a volume of 1,42,709 Units experiencing a growth of 4.9% (2019-2022).
The Corrugated Packaging segment is leading the Market by Application in 2022 thereby achieving a market value of $4.5 Billion by 2030.
The Asia Pacific region dominated the Market by Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $4.6 Billion by 2030.
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