Newark, Aug. 12, 2024 (GLOBE NEWSWIRE) -- The global packaging printing market is anticipated to reach USD 1,003.94 billion by 2033, at a CAGR of 8.5% during the forecast period 2024-2033.Global packaging printing market is growing at a steady growth rate, owing tothe increasing requirement for feasible and sustainable printing.
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The packaging printing market is experiencing significant growth, driven by the increasing demand for innovative and sustainable packaging solutions across various industries. As consumer preferences shift toward visually appealing and eco-friendly packaging, the market is expanding rapidly. This growth is further fueled by advancements in printing technologies and the rise of e-commerce.
Report Scope and Segmentation –
| Report Coverage | Details |
| Forecast Period | 2024-2033 |
| Forecast CAGR | 8.50% |
| 2033 Value Projection | USD 1,003.94 Billion |
| Historical Data | 2020-2022 |
| No. of Pages | 233 |
| Report Coverage | Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends |
| Segments Covered | Type, Printing Technology, Application, Regions |
| Regions Covered | The regions analyzed for the market are Asia Pacific, Europe, South America, North America, and Middle East & Africa. Furthermore, the regions are further analyzed at the country level. |
| Packaging Printing Market Growth Drivers | Rising purchasing power |
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Key Insights on Packaging Printing Market
The labels segment held the largest share of around 28% in 2023
The type segment is divided into labels, plastics, glass, metal, paper and paperboard, flexible packaging & corrugated boxes, cartons and others. The labels segment held the largest share of around 28% in 2023, due to its diverse uses, such as the display of sequential barcodes and variable text, numbers, titles or graphics that add value to the product.
The digital printing technology segment is anticipated to grow at the highest CAGR over the forecast period
The printing technology segment includesflexography printing technology, rotogravure printing technology, offset printing technology, digital printing technology and screen printing.The digital printing technology segment is anticipated to grow at the highest CAGR over the forecast period.The excellent print-ability and visual appeal in the package printing industry would push the digital printing technology market. Digital printing of personal care & cosmetics items is widely favoured for package printing owing to its esthetic appeal facilities to lure buyers at the point of sale (POS).
The food & beverage segment is anticipated to grow at the highest CAGR over the forecast period
The application segment includes food & beverage, household & cosmetic products, pharmaceuticals and others. The food & beverage segment is anticipated to grow at the highest CAGR over the forecast period as increasing demand for product recognition and labeling in the food & beverage industry is driving growth in the packaging printing market.
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Regional Segmentation Analysis:
The regions analyzed for the market include North America, Europe, South America, Asia Pacific, and Middle East and Africa. The Asia Pacific region emerged as the largest market for the packaging printing market with around 39.5% share of the market revenue in 2023. This was because of the rising food & beverage and healthcare sectors in the region.
Competitive Analysis:
Major players in the global packaging printing market are Amcor, Belmont Packaging, Constantia Flexibles GmbH, Coveris, Duncan Printing Group, E. I. du Pont de Nemours and Company, Graphics Packaging Holding Company, Mondi Plc, Paramount Packaging Ltd., Quad/Graphics, Inc., Quantum Print and Packaging Ltd., Shree Arun Packaging Co. (SAPCO), Sonoco Products Company, Toppan Printing Co., Ltd. and WS Packaging Group, Inc. among others.
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