Top 3 Trends Boosting Revenues in the Global Digital Printing Packaging Market
Arizton’s recent market research report on the global digital printing packaging market provides comprehensive industry analysis, trend forecasts, and competitive analysis. The research study segments the market 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), by geography (APAC, Europe, North America, Latin America, and MEA), and offers detailed competitive analysis.
The global digital printing packaging market is anticipated to generate revenues of around $28 billion by 2024, growing at a CAGR of around 11% during 2018-2024.
The booming consumer products segment in emerging countries such as China, Germany, Japan, and India are propelling the growth of the global market. The top vendors are focusing on the ease of usage, printing output, design, printing technology, and quality to gain a larger global digital printing packaging market share.
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The top 3 drivers and trends attributing to the transformation of the global digital printing packaging market are discussed below:
Preference for Enhanced Product Presentability
The growing preference for enhanced product presentability across several consumer brands is driving the demand in the global digital printing packaging market. The appearance of the product often influences the buyer immediately, the first impression of the product will result in the ultimate purchase decision of the consumers. The companies are leveraging product packages to promote their products on digital media in the market. The rising demand for short-run product printing, variations in SKU (Stock Keeping Unit), and seasonal & one-off promotional packets is propelling the growth of the global digital printing packaging market. The use of this technology will help brand owners to print only the desired quantity instead of having products printed in bulk. The holiday seasons and promotional offerings play a relevant role in printing product packages. Brands tend to leverage the holiday season, owing to an increase in consumer footfall to physical as well as online stores. The brands are leveraging digital technology to promote product differentiation in the market. For instance, promoting candy for Halloween, Valentine’s, and Easter or the latest Starbucks’s holiday campaign promoting the red holiday cup, brands ranging across almost every segment utilize such seasonal opportunities in the market. HP, Xerox, and Xeikon NV are the leading vendors in the global digital printing packaging market.
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Persistent Innovation in Service Offerings by Digital Print
The increasing focus on innovations will drive the transformation of the global digital printing packaging market. Several service providers are consistently innovating their service offerings via digital solutions to attract a maximum number of consumers in the global market. The growing demand for faster & customized ready-to-market print coupled with improved quality is gaining immense popularity in the market. The rising focus on delivering customized, affordable, and quick print solutions will augment the development of the global digital printing packaging market. Digital printing helps reduce overhead costs and enhance productivity in the global market. The quality of this printing has a range of different impressions without any hurdles and provides the flexibility option by printing exactly the volume required to be printed in the market. The ability to print just-in-time quantities is one of the major benefits of digital technology in the global market. Digital printing further helps in minimizing the waste owing to non-requirement of printing several feet of non-usable material in the market. The launch of fusion technology by Xeikon which caters to the high-end labels and cartons which require the production of various embellishments involving a range of materials and processes will boost demand in the market. The vibrancy, affordability, and flexibility of this technology will boost sales in the global digital printing packaging market.
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Emerging Demand for Packaging Materials
The rising demand from various industrial applications such as food & beverages (F&B), cosmetics, and healthcare industries is contributing to the revenues in the global digital printing packaging market. The increasing availability of various materials such as label packaging, folding cartons, corrugated packaging, and flexible packaging will contribute to the growing revenues. The inclination towards flexibility and convenience will contribute to the growing revenues in the global digital printing packaging market. The growing popularity of zip locks, resealable seals, and the reusability feature of packets will promote sustainability. The leading brands are looking for personalization, regionalization, and customization of their product to sustain the competition in the market. Vendors expanding to emerging regions will contribute to the profitability in the global digital printing packaging market.
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The leading vendors in the global digital printing packaging market are HP, E.I. Du Pont de Nemours & Co, Mondi, Xeikon, and Xerox.
The complete overview of the latest market research report on the global 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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