Digital Printing Packaging Market worth $46.2 billion by 2029, at a CAGR of 8.9%, says MarketsandMarkets™

/EIN News/ -- Chicago, May 27, 2024 (GLOBE NEWSWIRE) -- The Global Digital Printing Packaging Market is projected to grow from USD  30.2 billion in 2024 to USD 46.2 billion by 2029 at a CAGR of 8.9%, as per the recent study by MarketsandMarkets™. The digital printing packaging market utilizes digital technology for creating custom packaging materials like labels and cartons. It offers advantages such as shorter print runs, customization, and quicker turnaround times compared to traditional methods. Growth in this market is driven by increasing demand for personalized packaging, small-batch production, and advancements in printing technology. Additionally, the market is fueled by consumer preferences for visually appealing designs and the shift towards sustainable packaging solutions. Overall, the digital printing packaging market is experiencing significant expansion due to its ability to meet evolving customer needs efficiently.

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List of Key Players in Digital Printing Packaging Market:

1. DS Smith Plc (UK)
2. Smurfit Kappa Group (Ireland)
3. CCL Industries, Inc. (Canada)
4. Quad/Graphics, Inc. (US)
5. Printpack Inc. (US)
6. Huhtamäki Oyj (Finland)
7. Constantia Flexibles (Austria)
8. THIMM Holding GmbH (Germany)
9. Epac Holdings, LLC (US)
10. Amcor plc (Switzerland)
11. Sonoco Products Company (US)
12. Berry Global Group, Inc. (US)
13. ACME Printing (US)
14. WestRock Company (US)
15. Stora Enso Oyj (Finland)
16. Elanders AB (Sweden)

Drivers, Opportunities and Challenges in Digital Printing Packaging Market:

1. Drivers: Customization and personalization demand
2. Restraint: Limited application scope
3. Opportunity: Growth of the e-commerce industry
4. Challenge: Competition from traditional printing methods

Key Findings of the Study:

1. By Printing Ink, UV-based is expected to be fastest growing segment during the forecast period
2. By Printing Technology, Inkjet printing is expected to be fastest-growing segment during the forecast period.
3. Variable data printing is expected to experience significant growth during the forecast period.
4. By Packaging Type, Labels is expected to experience significant growth during the forecast period.
5. Pharmaceuticals and healthcare is expected to experience significant growth during the forecast period.
6. Asia Pacific is the largest market during the forecast period.

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Based on printing ink, the UV-based segment is projected to register the highest CAGR during the forecast period. UV-based printing ink has emerged as the fastest-growing segment in the digital printing packaging market, driven by its numerous advantages and versatile applications. UV-based inks are cured instantly upon exposure to ultraviolet light, resulting in faster production speeds and reduced turnaround times compared to traditional drying methods. This rapid curing process allows for efficient high-volume printing, making UV-based printing ideal for meeting the demands of fast-paced production environments in the packaging industry.

Based on printing technology, the Inkjet printing is projected to register the highest CAGR during the forecast period. Inkjet printing has emerged as the fastest-growing printing technology in the digital printing packaging market, experiencing significant adoption across various industries due to its versatility, efficiency, and high-quality output. Unlike traditional printing methods, inkjet printing utilizes droplets of ink to create images on a substrate, offering the flexibility to produce customized and personalized packaging designs with ease. This flexibility is particularly valuable in today's dynamic market, where brands seek to differentiate themselves through unique packaging that resonates with consumers.

Based on format, the Variable data printing segment is projected to register the highest CAGR during the forecast period. Variable data printing (VDP) has emerged as the fastest-growing printing format in the digital printing packaging market, revolutionizing the way packaging is personalized and customized for consumers. This innovative technology allows for the seamless integration of variable text, images, and graphics within a single print run, enabling brands to create highly targeted and engaging packaging designs tailored to individual consumers or specific market segments. As consumer preferences continue to shift towards personalized experiences, VDP offers packaging manufacturers a powerful tool to enhance brand engagement and drive customer loyalty.

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Based on packaging type, the Labels segment is projected to register the highest CAGR during the forecast period. Labels have emerged as the fastest-growing packaging type in the digital printing packaging market, experiencing a surge in demand across various industries due to their versatility, customization capabilities, and ability to enhance brand visibility. As brands increasingly focus on creating unique and memorable packaging designs to captivate consumers' attention, labels provide an ideal canvas for conveying brand identity, product information, and promotional messages effectively.

Based on end-use industry, the Pharmaceuticals and healthcare segment is projected to register the highest CAGR during the forecast period. The pharmaceutical and healthcare sector has emerged as the fastest-growing end-use industry in the digital printing packaging market, driven by several factors including the increasing demand for personalized medication, regulatory requirements, and the need for improved patient engagement. Digital printing technology offers pharmaceutical companies the ability to produce customized packaging solutions with variable data printing, enabling the inclusion of patient-specific information, dosage instructions, and safety warnings directly on packaging materials.

Based on region, Asia Pacific is projected to register the highest CAGR during the forecast period. The Asia Pacific region has emerged as the fastest-growing region in the digital printing packaging market, driven by several factors including rapid industrialization, urbanization, and changing consumer preferences. With a burgeoning population and expanding middle class, countries in Asia Pacific are witnessing a surge in demand for packaged goods across various industries including food and beverage, healthcare, cosmetics, and consumer goods, thereby fueling the growth of the digital printing packaging market in the region.

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