Digital Printing for packaging market to reach at a CAGR of 6% during 2019 – 2029
By Retail4Growth Team | July 30, 2019
According to Future Market Insights report, the global digital printing for packaging market is anticipated to expand 2x in terms of volume by the end of 2029.
The global digital printing for packaging market is projected to expand at a CAGR of 6% during the forecast period, according to Future Market Insights (FMI) report.
The global digital printing for packaging market is anticipated to expand 2x in terms of volume by the end of 2029,” said the report.
According to the report, North America holds more than 1/4th share of the global digital printing for packaging market, and is estimated to uphold its eminence in the global market. China is also one of the leading manufacturers of digital printing for packaging solutions and accounts for more than 10% of the global market.
In the South Asia region, India has emerged as one of the key markets for digital printing for packaging. Owing to the presence of several unorganized players, the Asian digital printing for packaging market has developed as a competitive market and is anticipated to expand at a considerable rate during the forecast period, the report adds.
As per the FMI report, in Europe, the UK is expected to witness high growth in the digital printing for packaging market, while Germany is anticipated to be prominent, in terms of market value share and incremental opportunity both, in the European market. The digital printing for packaging market is expected to benefit the most from the demand produced by label and tape applications.
The report found out that, label and tape manufacturers usually prefer short printing runs to digitally print packaging solutions. Digitally printed folding cartons are widely used in several end-use industries such as food, beverages, personal care & cosmetics, etc., which is driving the growth of the digital printing for packaging market, claims the report.
It also highlights that in 2019, the US is expected to be prominent in the North American digital printing for packaging market with more than 90% value share. Moreover, Canada is anticipated to witness growth of more than 5% in the North American digital printing for packaging market during the forecast period 2019-2029.
Digital printing for packaging is a type of printing technology, which predominantly prints packaging materials by using electronic control laser and ink jet printers. Digital printing for packaging also reduces turnaround time as it requires minimal press setup. Furthermore, digital printing for packaging provides quicker response time for printing as compared to the conventional printing technique.
Application of digital printing technology for short print runs with customized marketing communication in packaging, offers benefits to print service providers and packaging converters in the form of controlled inventory levels. This makes digital printing for packaging desirable for high-quality graphic packaging applications.
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