by Brand owners around the world are embracing innovation in packaging, leveraging digital printing technology to personalize products and enhance quality. Recent technological advancements have made digital printing more cost-effective and eco-friendly, making it a preferred choice for packaging applications. The digital printing packaging market is set to witness substantial growth driven by several key factors.
A Sustainable Printing Revolution
The growing demand for sustainable printing practices is a significant driver propelling the digital printing packaging market. Digital printing enables cost-effective short print runs, making it ideal for various packaging needs. Technologies like inkjet and electrophotography printing have undergone significant advancements, making digital printing accessible and affordable. The cost-effectiveness of digital printing is poised to fuel market expansion.
Rise in Demand for Flexible Packaging
Flexible packaging has witnessed a surge in demand, thanks to recent advancements in digital printing technology. This versatile packaging solution is gaining traction due to its energy and environmental benefits. The trend is driven by the increasing consumer preference for single-serving or small-serving sizes of snacks and convenience meals. In 2020, over 127 million Americans consumed complete frozen meals, driving the demand for flexible packaging.
E-commerce Fuels Growth
The rise of e-commerce sales is another catalyst for the digital printing packaging market. Flexible packaging, known for its airtight properties, provides protection from environmental elements like temperature, sunlight, and moisture–essential for e-commerce packaging. With global retail e-commerce sales surpassing USD 4.9 trillion in 2021 and continuing to rise, the demand for flexible packaging is set to soar.
Solvent-based Printing Inks Dominate
Solvent-based printing inks are expected to dominate the digital printing packaging market. These inks, containing pigments and volatile organic chemicals, offer a cost-effective solution for printing on various surfaces, including cardboard, paper, metal foils, and plastics. They provide vivid colors, waterproof and UV-safe prints without additional coatings, making them a preferred choice for many applications.
Asia Pacific Leads the Way
The Asia Pacific region is at the forefront of the digital printing packaging market, driven by strong demand from various sectors. China, India, and Japan, in particular, are witnessing substantial growth in food and beverage packaging, cosmetics, and personal care products. The regions expanding population and growing economies present significant opportunities for digital printing packaging.
Innovations in the Market
Market players are actively introducing new products and forming strategic alliances. For instance, Smurfit Kappa recently invested in its Design2Market Factory, facilitating rapid packaging design development. Thimm Packaging Groups sale of its Mexico production facility to the Tri-Wall group ensures a steady supply of recyclable multi-material wrappers to North American customers.
Leading players in the digital printing packaging market include DS Smith, Smurfit Kappa, CCL Industries Inc., Quad/Graphics Inc., and Printpack.
Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa) https://www.fairfieldmarketresearch.com/report/digital-printing-packaging-market
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This press release first seen on Brilad
COMTEX_442085755/2840/2023-10-18T16:49:25
Julian Lopez is professor emeritus of finance, served as the founding academic affairs dean and founding chair of the finance department.
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