Labels segment likely to grab the highest market share in the global digital printing for packaging market by the end of the forecast period
The labels segment by product type is estimated to hold the highest market share by the end of the projected period, accounting for more than 70% of the global market share by 2027 end, up from 64.1% in 2016. The market share of the labels segment is expected to gain significant basis points due to rising demand for consumer goods and consequently labelling and packaging. The labels segment is anticipated to dominate the global market share by value, owing to the growing demand for labels in printing on a large scale. The segment is anticipated to register highest market attractiveness followed by the folding cartons segment. The labels and folding cartons segments together accounted for close to 75% of the market value share in 2016 and are forecast to account for more than 80% of the global market share by the end of the anticipated period.
The labels segment is estimated to grow 5.3X in terms of value and 5.0X in terms of volume over the forecast period. The total incremental opportunity created by the labels segment in the global digital printing for packaging market is estimated to be valued in excess of US$ 30,000 Mn over the forecast period 2017-2027.
In-house printing of labels by manufacturers producing larger number of SKUs is trending the global digital printing for packaging market
The last few years have seen an increase in preferences for SKUs that are produced by barcode label printers. These type of labels are seeing increased growth due to a growth in the production of counterfeit products and robbery of valuables. These labels also provide an advantage of managing inventories for customers of barcode printers. For instance, Colordyne Technologies, the manufacturer of digital inkjet printing systems, supplies to its clients the Colordyne 3600 Series digital printers that allow in-house label printing capabilities.
There has been a growing demand for digital printing for usage in shrink sleeves in recent years. Customers are preferring this technology due to its ability of customisation for each label while printing. Another advantage is that digital printing comes with lesser operational costs for shrink sleeves. Digital printing also provides the feature of smaller volume production runs that are not possible in other printing solutions.
Preference for the usage of digital printers has increased tremendously owing to various advantages it offers over conventional printing technologies. Digital printers are also preferred due to their capability of printing on the substrate. The trend of substrate printing on wood, glass, aluminium, etc. will create an opportunity for non-label printing technologies in future. For instance, In June 2016, Xerox launched the Xerox Production Press for Plastic Films & Substrates that can be used for printing on clamshells, lids and blister packs before thermoforming.
Labels product type segment accounts for almost two-thirds of the North America digital printing for packaging market
The labels segment is estimated to be valued at more than US$ 2,600 Mn in North America in 2017. The labels and folding cartons product type segments account for close to 70% of the Latin America digital printing for packaging market. In the APEJ digital printing for packaging market, the labels and folding cartons segments account for more than three-fourths of the market share of the region by product type.
Global Digital Printing for Packaging Market: Overview
The packaging industry is currently flourishing, gaining traction from their ability to enhance user experience throughout the usage of the product. Digital printing has emerged as a significant part of packaging processes as it helps in providing information to the consumers and aids in tracking via barcoding. Consequently, the demand in the global digital printing for packaging market is projected to increment at a strong CAGR during the forecast period of 2017 to 2027.
This newly prepared business and commerce study by Transparency Market Research examines the digital printing for packaging market for the forecast period 2017-2027. The primary objective of the report is to identify opportunities in the market and present updates as well as insights pertaining to various segments of the global digital printing for packaging market.
The report begins with an overview of the global digital printing for packaging market, evaluating market performance in terms of revenue, followed by TMR’s analysis of key trends, drivers and restraints witnessed in the global digital printing for packaging market. Impact analysis of key growth drivers and restraints based on the weighted average model is also included in the report.
Global Digital Printing for Packaging Market: Research Methodology
To compute the market size, in-depth secondary research is done. Data points such as regional splits and market split by technology, packaging type, and end user have been assimilated to arrive at the market estimates. TMR triangulates the data via different analysis based on supply side, demand side, as well as dynamics of digital printing for packaging market. TMR not only conducts forecasts in terms of value, but also evaluates the market on the basis of essential parameters, such as Year-on-Year (Y-o-Y) growth. This helps providers to recognize the future opportunities as well predictability of the market.
Vital feature of this report is the analysis of the global digital printing for packaging market by technology, type, end user, and region; and the corresponding revenue forecast in terms of absolute dollar opportunity. This is traditionally overlooked while forecasting the market. However, absolute dollar opportunity is critical in assessing the level of opportunity that a provider can look to achieve as well as to provide potential resources from sales perspective of the global digital printing for packaging market.
Global Digital Printing for Packaging Market: Segmentations
Technology-wise, the report segments the global digital printing for packaging market into liquid toner electrophotography printing, nano-graphic printing, stream inkjet technology printing, and others. Based on packaging type, the report bifurcates the market for digital printing in the packaging industry into labels, films and wraps, bags and sacks, boxes, bottles, folding cartons, cans, pouches and sachets, and others. On the basis of end users, the market has been categorized into food packaging, beverage packaging, pharmaceuticals packaging, personal care and cosmetics packaging, electronic components packaging, chemicals packaging, and others. Geographically, the report takes stock of the potential of digital printing for packaging market in the regions of North America, Latin America, Asia Pacific except Japan (APEJ), Western Europe, Eastern Europe, the Middle East and Africa, and Japan. For each of these regions and country, the report offers market value and volume forecast on the basis of each segment.
Global Digital Printing for Packaging Market: Competitive Landscape
HP Inc., Xeikon N.V., Eastman Kodak Company, Landa Corporation Ltd, Quad/Graphics, Inc., Tailored Label Packagings, Inc., Creative Labels Inc., Reynders Label Printing, DS Smith Plc, Thimm Group, Traco Manufacturing, Inc., Ws Packaging Group, Inc., Elanders, and Colordruck Baiersbron are some of the key companies currently operating in the global digital printing for packaging market.