Growing Use of Flexible Packaging due to its Airtight Packaging Will Drive Market Growth
Brand owners regularly look for ways to innovate, including how they produce their packaging, as it enables to personalise a product packaging in an innovative way. Apart from improvising the colour accuracy, as well as the quality of the final printed product, digital printing can be a far more cost-effective, and eco-friendly solution. With recent technological developments, digital printing has become a powerful addition and has taken off in recent years and continues to expand in capabilities. The rise in demand for sustainable printing is one of the main reasons anticipated to propel the growth of the digital printing packaging market in future. With its ability to generate short print runs profitably, digital printing is becoming increasingly popular for packaging applications. Inkjet, and electrophotography printing technologies have undergone significant technological advancements, suggesting that digital printing is now one of the most affordable, and accessible ways to print. It is also predicted that the cost effectiveness will influence the expansion of digital printing packaging market.
High demand for flexible packaging and a sharp increase in interest in ecologically friendly printing have driven the market for digitally printed packaging. The range of flexible packaging has increased thanks to recent advancements in digital printing technology. With the significant demand, many firms have already increased their manufacturing capacities, accelerating market expansion. With the numerous energy and environmental benefits of flexible packaging, the packaging industry is shifting toward flexible packaging. The market for flexible packaging is expanding due to the demand for a snack and convenience meals in single-serving or small-serving sizes. Rising consumer knowledge of a healthy lifestyle has influenced them to switch to higher-quality packaged foods, which will drive product demand. In 2020, 127.92 million Americans consumed complete frozen meals. The increased consumption of frozen and packaged food in the country will increase the demand for flexible packaging, thus driving the digital printing packaging market.
Another factor increasing the use of flexible packaging is the rising sales from e-commerce websites. Flexible packaging is used in e-commerce packaging because flexible packaging offers airtight packaging that protects the item from environmental elements such as temperature, sunlight, and moisture. Global retail e-commerce sales accounted for around USD 4.9 trillion in 2021, and retail e-commerce sales are expected to cross USD 5.4 trillion in 2022. The continual increase in the e-commerce service for purchasing products will increase the demand for flexible packaging and drive the growth of digital printing packaging market in the coming years.
Increasing Use of Solvent-based Printing Ink due to its Cost Effectiveness
In the forecast period, solvent-based printing ink will have the highest proportion of the worldwide digital printing packaging market. Solvent inks are inks that don't only contain dyes but also pigments. Solvent-based inks include volatile organic chemicals as opposed to water-based inks, which use water as the carrier. Compared to UV-curable and water-based inks, these inks are relatively less expensive and allow for printing on various surfaces, including corrugated cardboard, paper, flexible packaging, metal foils, and plastics. Although not as powerful as a water-based dye, solvent inks provide vivid colours. These inks often offer waterproof prints and UV-safe prints without needing additional coatings. Solvent inks come in both solid, and delicate varieties. Even though they don't require specific over-coatings, hard solvent inks have the best durability. However, the printing environment must be well ventilated to prevent exposure to dangerous vapours. On the other hand, mild solvent-based inks can be used in enclosed environments without additional ventilation.
Asia Pacific Continues to Surge Ahead with the Maximum Opportunity Across All Key End-use Industries
Asia Pacific held the highest share of the worldwide digital printing packaging market due to rising demand from numerous application areas. With the rising demand from the food and beverage industry, China, India, and Japan are the top three consumers. This can be attributed to the strong demand for food packaging and the growing emphasis on packaged foods disseminating information about the item's shelf life, makeup, and nutritional value. The amount of frozen food consumed in Japan in 2021 was nearly 2.9 million tonnes. As manufacturing, healthcare, food and beverages, and other industries grow, there will be a substantial need for digitally printed packaging in emerging economies in the Asia Pacific. These nations' expanding population further represent a sizable potential investment pocket in digital printing packaging market.
Since more women are working, more people are spending money on cosmetics, and more young people are living there, the cosmetics sector in the Asia Pacific region is expanding. The second-largest cosmetics market in the world is found in China. The average Chinese consumer spent 39 yuan on cosmetics in 2019. First-tier city consumers spent an average of 183 yuan per person, more than four times the national average. Thus, the regional market will prosper in the following years due to China's expanding use of cosmetic items. This sector is anticipated to boost the digital printing packaging market substantially. The demand for decorative items in this area has increased due to rising e-commerce activities, rising self-care awareness, rising levels of living, and growing population. With their expanding economies and increasing consumer expenditure on cosmetics, China, and India are two markets for skincare, haircare, and makeup goods experiencing rapid expansion. These elements are anticipated to increase demand for digitally printed packaging by propelling the growth of the Asia Pacific cosmetics, beauty, and personal care market.
Global Digital Printing Packaging Market: Competitive Landscape
Market players introduce new products and form alliances, partnerships, and collaborations. In February 2022, Smurfit Kappa made significant investments in its brand-new Design2Market Factory. This cutting-edge facility allows for a speedy and smooth development from packaging design to market launch. The investment made possible rapid prototyping for pilot production, industry-leading package performance studies, and field lab capabilities, including a digital printer and dies cutter. In October 2020, Thimm Packaging Group sold its Puebla, Mexico, production facility to the Tri-Wall group to ensure an adequate supply of single and recyclable multi-material wrappers to customers in North America. The corporation also wants to emphasize developing its indigenous industries in Europe.
A few of the players in the digital printing packaging market include DS Smith (UK), Smurfit Kappa (Ireland), CCL Industries Inc. (Canada), Quad/Graphics Inc. (US), and Printpack (US).
Global Digital Printing Packaging Market is Differentiated as Below:
By Printing Inks
By Printing Technology
By Packaging Type
By End-Use Industry
Key Elements Included In The Study: Global Digital Printing Packaging Market
Post Sale Support, Research Updates & Offerings
We value the trust shown by our customers in Fairfield Market Research. We support our clients through our post sale support, research updates and offerings.
Under uncertainty, traditional approaches to strategic planning can be downright dangerous. True ambiguity is no basis to forecast the future – degree of risk, the magnitude of circumstances, conditions and consequences are not known or unpredictable. To avoid dangerous binary views of uncertainty; strategic posture, moves and actions through market research is the best bet.Read more