Future says digital print in packaging will be USD 52 bn by 2027

A new report by Future Market Insights estimates digital print for the packaging segment will grow by 15.3% to surpass USD 52 billion in revenues by 2027. The demand for digital printing in packaging was estimated to be valued at over USD 11 billion in 2016.

21 Dec 2018 | By Sriraam Selvam

According to the report, the factors that will drive demand for digital printing in packaging include growing preference for conventional and analogue plates and their application in printing jobs of shorter run lengths. According to the Future Market Insights report, the "adoption of digital printing in packaging is growing on account of its convenience over conventional presses.

According to Ram Singh, associate consultant at Future Market Insights, "Digital printing allows packaging companies to reduce turnaround time, and this is a prime reason fuelling demand for digital printing. He added, "Shifting preference from conventional printing to variable data printing and personalised printing. Leading packaging companies are adopting variable data printing owing to its use in direct marketing. Future Market Insights projects these trends to positively influence the digital printing in packaging market."

While Future Market Insights maintains a positive outlook on the global digital printing in packaging market, it is of the opinion that high variable costs and limited opportunities in indirect sales channels can impede widespread adoption.

The report has segregated the market into, electrophotography, nanographic printing, inkjet technology. Of this, electrophotography accounts for over half of revenue share by technology type. In terms of revenues, this segment was valued at just over USD 6 billion in 2016. FMI projects it to grow at 16.6% CAGR and surpass USD 32 billion in revenues by 2027.

The report is bullish about labels which accounts for over USD 7.1 billion in revenues in 2016. Future Market Insights estimates demand for labels to increase at 16.7% CAGR to reach USD 38.44 billion in revenues.

The food sector remains the largest end-user of digital printing in packaging. According to Future Market Insights, demand for digital printing in packaging was pegged at over USD 4.5 billion in 2016. This is expected to increase at a CAGR of 16.6% during the forecast period 2016-2026.

The report is available for sale. 

A sample of the report is available at https://www.futuremarketinsights.com/reports/sample/rep-gb-2188