Labels segment is expected to grow at a CAGR of around 11% by 2024.
Arizton’s recent market research report on the digital printing packaging market identifies HP, E.I. Du Pont de Nemours & Co, Mondi, Xeikon, and Xerox as the leading vendors that are likely to dominate the market during the forecast period. This research report provides detailed analysis of market segmentation by technology (inkjet technology and electrophotography), by end-user application (food & beverage, electronics, healthcare, personal care, and others), by package type (labels, corrugated packaging, folding packaging, and flexible packaging), and by geography (APAC, Europe, North America, Latin America, and MEA).
The digital printing packaging market is predicted to reach values of around $28 billion by 2024, growing at a CAGR of approximately 11% during 2018-2024.
The digital printing packaging market is divided into four major segments that consist of technology, end-user application, package type, and geography.
Labels segment to grow at a significant CAGR in the digital printing packaging market during the forecast period
The digital printing packaging market by packaging type is segmented into labels, corrugated packaging, folding packaging, and flexible packaging. Labels segment dominated more than 2/3rd of the total market share in 2018, growing at a CAGR of around 11% during the forecast period. The presence of a diverse range of products catering to a wide range of industries is one of the primary factors contributing to the growth of this segment. Labels comprise of a broad range of details, and it has to contain precise and accurate information. The manufacturers are leveraging labels to enhance the products appeal, resulting in higher demand in the digital printing packaging market. The use of digital printing technology offers a variety of benefits such as reduced costs, short-run, and customized packaging of products in the market. The implementation of unique information code or specific QR codes with labels will enhance the security features in products across the global market. The growing requirement of processing, preparing and printing just-in-time orders and customized short runs will drive to the rising demand for labels in the digital printing packaging market.
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Personal care segment to grow at the fastest CAGR in the digital printing packaging market during the forecast period
The end-user segment in the digital printing packaging market is classified into food & beverage, electronics, healthcare, personal care, and others. Personal care segment occupied less than 1/3rd of the total market share in 2018, growing at CAGR of about 13% during the forecast period. The rising demand for hand care, color cosmetics, face care, hair care, and body care products are boosting the growth of the personal care segment in the global market. The wide range of products catering to a large group of consumer will create lucrative opportunities for the vendors operating in the digital printing packaging market. L’Oreal Paris, Procter & Gamble, Unilever, Avon Products, Calvin Klein, Estee Lauder, Body Shop, and Revlon are some of the leading brands operating in the personal care segment. The consumers are leveraging technology to suggest and guide them through for selecting the products in the market. The service providers are incorporating digital technologies to add features such as color, alignment, trim, resolution and registration in the products in this market segment. The launch of new eco-friendly natural brands by large MNCs’ will contribute to the transformation of the digital printing packaging market.
Europe to grow at a considerable CAGR in the digital printing packaging market during the forecast period
The digital printing packaging market by geography is divided into APAC, Europe, North America, Latin America, and MEA. Europe dominated around 1/3rd of the total market share in 2018, growing at a CAGR of approximately 10% during the forecast period. The exponential growth of the organized retail sector will drive the European market over the next few years. The rising employment, relaxed monetary policy stance, and a boost in investor sentiments are some of the major factors contributing to the development of the European digital printing packaging market.The European Union (EU) has initiated the Horizon 2020 program, which is the largest R&D funding and innovation program. The initiation of this program will enable manufacturing operations to use advanced computing, sensor technology, and robotics in the Europe market. Efforts towards facilitating R&D activities will result in high-quality products and services in the digital printing packaging market.
The other prominent players in the digital printing packaging market are Quad/Graphics, Cenveo, Dainippon Screen Graphics, EC Labels, Graphix Labels and Packaging, Edwards Label, INX International, Quantum Print and Packaging, Traco Manufacturing, CCL Healthcare, Heidelberg USA, Barberan, Cyan Tec, Hinterkopf, Minolta, WS Packaging Group, Krones, Hymmen, Landa Digital Printing, Mark Andy, and Sun Automation.
The complete overview of the latest market research report on the digital printing packaging market by Arizton is now available.
The report also offers a detailed study of major trends, drivers, challenges, and also provides the market size and forecast for major geographical regions and key countries.
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