At a CAGR 8.3% between 2021 and 2028, the global packaging printing market is expected to reach USD 526.54 million by 2028. The global demand for safety and convenience in packaging products is driving growth. The market is also supported by the increasing popularity of e-commerce as well as the preference of consumers for eco-friendly packaging materials.
The advent of digital printing technology has allowed packaging manufacturers to offer custom packaging solutions. This is further fueling the growth of the packaging printing industry. However, the high price of packaging printing equipment will likely hinder the growth of this market.
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Print technology The digital printing technology market is expected to experience significant growth over the forecast period. This is due to the cost-effectiveness of digital printing technology and the faster turnaround time.
Printing type The flexographic printing market is expected to experience a steady growth over the forecast period. Flexographic printing is growing in popularity due to its cost-effectiveness, versatility and ability to print on many substrates.
Type of material the paper & paperboard segment is expected to witness a healthy growth during the forecast period. This is attributed to the growing demand for paper & paperboard-based packaging materials from the food & beverage industry.
The major revenue contributor to North America’s packaging printing market is expected to be during the forecast period. This is due to the growing demand for packaged goods in the region and the presence of large players in the market.
Sun Chemical Corporation, Quad Graphics Inc., Cenveo Inc., Cenveo Inc., Bemis Company, Inc., Sappi Limited, Flint Group, and others are major players in the packaging printing industry. These players are focusing on strategies such as mergers & acquisitions, collaborations, and product launches, to expand their product portfolio and gain a competitive edge in the market.
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