The global packaging printing market size is projected to grow from USD 352.1 billion in 2020 to USD 433.4 billion by 2025, at a compound annual growth rate (CAGR) of 4.2% during the forecast period. The growth of this market is attributed to the cost-effectiveness of packaging printing technique and growing demand for food & beverage product packaging with high aesthetic appeal & correct branding. Packaging printing is a means of reproducing graphics or texts on packaging substrates by utilizing various printing methods, such as flexography, rotogravure, screen printing, offset, and digital printing. Printing can be incorporated on different packaging media, such as corrugated boxes, cartons, bags, metal, cans, tags, and labels. Printing on packaging mediums provides a variety of benefits such as photo-realistic illustrations, aesthetic appeal, better communicability, and also plays a role in the marketing, promotional, and distributional activities of end-products.
The packaging printing market has thousands of
companies which thrive in their domestic market. A few of the major players
are,Amcor (Australia), Graphics Packaging Holdings Company (US), Quad/Graphics,
Inc. (US), Mondi Plc (South Africa) and Sonoco (US). These players have
adopted various growth strategies, such as acquisitions, expansions &
investments, new product developments, and agreements to increase their market
shares and enhance their product portfolios.
Browse 165
market data Tables and 46 Figures spread through 206 Pages and
in-depth TOC on "Packaging
Printing Market by Printing Ink (Aqueous, UV-based), Printing Technology
(Flexography, Gravure, Digital), Packaging Type (Labels & Tags, Flexible),
Application (Food & Beverages, Cosmetics, Pharmaceuticals), & Region -
Global Forecast to 2025"
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The food & beverages segment is estimated to be
the fastest-growing segment during the forecast period
The food & beverages segment is estimated to be
the fastest-growing segment during forecast period (2020–2025). The demand for
packaging printing is experiencing high demand from the food & beverage
industry, mainly because of the growing demand for packaged and branded
products. An increase in demand for product differentiation and labeling for
their authentication drives the market growth for printing in the food &
beverage packaging segment.
Asia Pacific projected to account for the largest
share in the packaging printing market by 2025
Asia Pacific, with emerging economies such as China
and India, is expected to drive the packaging printing market. China is
projected to account for the largest market share and dominate the Asia Pacific
packaging printing market by 2025. The growing healthcare and food &
beverage industries are likely to drive the demand for packaging printing in
China. In addition to this, the country’s large consumer base, overall positive
economic environment, and an increase in manufacturing activities will drive
demand in the packaging industry.
The major players include Mondi plc (Austria),
Sonoco Products Company (US), Graphics Packaging Holding Company (US),
Quad/Graphics (US), Amcor Limited (Australia), Constantia Flexibles (Austria),
Quantum Print and Packaging Limited (UK), WS Packaging Group (US), Toppan
Printing Company (Japan), and Duncan Printing Group (UK). Companies have
adopted strategies such as new product launches and acquisitions to cope with
the increasing demand in the emerging markets.
Rising
demand in industries such as food, beverage, healthcare & pharmaceutical,
and personal care, in line with a focus on adapting latest technologies and
processes to foster the way of business operations in a variety of industries
in countries such as Japan and India are making Asia-Pacific the
fastest-growing market for PET packaging.
The
PET packaging market is segmented, on the basis of end-use industry, into food,
beverages, personal care & cosmetics, household products, pharmaceuticals,
and others. The food segment held the largest share, in terms of value, in 2015
and the beverage segment is projected to grow at the highest CAGR during the
forecast period.
On
the basis of pack type, the bottles & jars segment held the largest share,
in terms of value, in 2015 and is projected to grow at the highest CAGR, as
bottles and jars are highly preferred to store food, beverages, and other
consumables without contaminating the same.
They
also perform exceptional in conditions such as temperature, humidity, oxygen
& carbon dioxide levels, and water level in perishable goods. Along with
the same, PET packaging is highly used in logistics & transportation
because of its light weight.
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Mondi plc (Austria) is financially and
strategically well placed and has a strong customer base. It caters to a huge
customer base in various markets such as food & beverages, pharmaceuticals,
consumer products, industrial, building materials, and transportation. It gives
high importance to research & development activities. It aims to expand its
existing distribution network to serve the customers better. Further, it also
aims to innovate and expand its existing product portfolio for packaging
printing. The introduction of new products enabled the company to expand the
local talent pool and widened the product portfolio.
Graphics Packaging Holdings (US) is a global
provider of innovative and sustainable packaging solutions for a better, safer,
and healthier lifestyle. The company innovates and offers packaging printing
solutions for various applications. It has adopted acquisitions as its key
strategy to gain a competitive advantage in the market. In July 2019, Graphics
Packaging Holdings acquires Artistic Carton Mill, converting facilities, which
has divisions in Auburn, Indiana and Elgin, Illinois, and is a diversified
producer of folding cartons and coated recycled paperboard. This acquisition
has enhanced the company’s product portfolio and production capacity along with
strengthening geographical footprint to cater the growing demand. This helped
the company to gain new customers, better serve its existing ones, and expand
its footprint in various emerging countries by offering extensive range of new
products.
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