The packaging printing market plays a vital role in the packaging industry by providing printing solutions for labels, cartons, packaging wrappers and other packaging materials. Printing technologies such as flexography, lithography, screen printing and digital printing enable mass production of customized packaging with high quality graphics and images. The packaging printing market caters to various end use industries including food & beverages, pharmaceuticals, cosmetics, homecare and others. The need for attractive packaging for branding and promotional activities by consumer goods manufacturers is a major factor driving the demand for packaging printing solutions.
The global packaging printing market is estimated to be valued at US$ 375.05 Mn in 2023 and is expected to exhibit a CAGR of 9.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Increasing demand for sustainable and eco-friendly packaging is a key trend propelling growth of the Global Packaging Printing Market. Growing environmental concerns are compelling packaging printers to adopt green printing technologies and use recyclable or biodegradable substrates for printing. Sustainable packaging plays an important role in effective waste management and resource conservation. Packaging printers are investing in renewable energy sources and zero-waste production processes to reduce environmental footprint. Adoption of digital printing techniques is also rising as they enable reducing food miles, minimize wastage and improve sustainability in the packaging printing industry.
Swot Analysis
Strength: The packaging printing market has witnessed strong growth owing to increasing demand for sustainable and flexible packaging from various end-use industries. Flexible packaging solutions offers higher barrier properties and shelf life to products.
Weakness: Rising raw material prices including paper, plastic and ink has increased the overall packaging production costs. Stringent environmental regulations related to use of certain types of inks and substrates poses challenges.
Opportunity: Growing e-commerce sector globally is fueling demand for attractive and customized product packaging solutions. Development of bio-based and eco-friendly printing inks presents new opportunities in coming years.
Threats: Substitution threat from digital technologies for product labeling and marking applications. Declining print media such as newspapers can reduce demand from certain segments.
Key Takeaways
The global packaging printing market is expected to witness high growth over the forecast period supported by rising preference for product differentiation and branding through attractive packaging solutions.
Regional analysis for packaging printing comprises fastest revenue generation in Asia Pacific attributed to expansion of food and beverage industry in countries such as China, India along with growing e-commerce sector. North America and Europe are established markets while growth in Latin America and Middle East & Africa is expected to be higher driven by evolving consumer lifestyles.
Key players operating in the packaging printing market are Sanofi S.A, Pfizer, Inc., Merck & Co., Inc., GlaxoSmithKline plc., Bharat Biotech, Serum institute of India Pvt. Ltd., Biological E. Limited, Bio-Med, Bavarian Nordic, CSL Limited, Novartis AG, Vaxcyte, GSBPL, Taj Pharmaceuticals Limited, and Bavarian Nordic. Innovation and new product launches have been the key strategies of major players to strengthen market presence. In addition, companies are focusing on recycling, reuse and reduction of waste during packaging production to comply with sustainability norms.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
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