Digital printing packaging market to grow at 14.73% CAGR by 2026

The digital printing packaging market is determined by the growing demand from the food and beverages and personal care industries. Digital printing is more time- and cost-efficient and it has raised the popularity of digital printing packaging. According to Trends Market Research (TMR), the market is expected to grow at the rate of 14.73% CAGR by 2026.

23 Jul 2021 | By PrintWeek Team

According to the TMR report, based on packaging type, labels accounted for the largest market share and are expected to grow at a significant rate during the forecasted year. This development is owing to its application in several packaging variable types.

In terms of end-users, the food and beverage sector is expected to rise at a higher rate owing to the high demand for food packaging and the increasing trend of variable data printing on food packages to communicate the composition, shelf-life, and nutritional value of the product. The high degree of customisation required in the food and beverage industry is suitably supported by the features offered by digital printing techniques, allowing unique sync among two creating big market segments.

The printing technology is accounted for the largest market share and is expected to grow at a moderate CAGR during the forecasted period. This development can be attributed to its capacity to print images that are superior in quality and withstand various climatic conditions. In 2015, the format segment's variable data printing sector constituted a larger share in the digital printing packaging market. This is expected to rise at a higher rate during the forecast period due to its ability to produce customised printing without decelerating down the process, thus significantly saving printing and labor costs.

The Asia-Pacific region accounted for a higher share in the total digital printing packaging market, in terms of value, due to manufacturers’ focus on emerging low-cost packaging printing options. But as the digital printing packaging market in established countries is getting matured, India and China's markets are expected to rise at higher rates from 2016 to 2021. The region is also expected to register the highest development during the estimated period due to the region experiencing growing e-retail sales and growing convenience packaging in the food industry.

This report includes the profiles of companies that are leading the digital printing packaging market, such as HP, Xerox, Kodak, Quad/Graphics, Mondi, among others.

For details, visit Trends Market Research site.