Digital Printing Packaging Market

Market Overview

The packaging sector is witnessing a paradigm preference toward digital printing packaging to enhance flexibility and customization in low as well as high volume runs. Brands continue to intake new prospects, providing customers with more personalized designs and thus, boosting their sales.

The digital print market is growing at over 15% for all formats – excluding labels where it is already deep-rooted.  The ability of digital printing packaging to go from PDF to POS in significantly lesser duration makes short runs and customization campaigns economical, as well as optimizes supply chain and stock management.

The global digital printing packaging market is estimated to record notable CAGR over 2020-2030.

Digital Printing Packaging Market – Key Drivers

Digitalization is laying the foundations for an advanced customer-centric business framework. As conventional technologies incur high establishment costs and high frequency of orders of shorter run lengths necessitates frequent plate changing and scheduling multiple jobs.

Digital printing packaging is offering manufacturers a significantly broad field of value-capture prospects.  

Moreover, the technique satiates myriads of key market trends and demands - from robust marketing campaigns and proliferation of stock keeping units (SKU) to streamlining procedures for faster time. The food and beverage industry has shown immediacy in embracing digital printing packaging solutions.

Growing preference among consumers for clean label products are compelling food retailers to bank on digital printing packaging that communicate nutritional profile, shelf life, and composition of food products.

Moreover, as food safety concerns are gathering center stage, water-based inks are gaining huge prominence in digital printing packaging in the food and beverage industry.  

Digital Printing Packaging Market – Growth Restraints

Despite the increment in the demand for the market, the digital printing packaging necessitates additional expenses to set up specific machinery for manufacturing.

Furthermore, market players that are yet to enter the digital ecosystem are required to invest in up-skilling of staff to deal with the complexities related to digital printing packaging processes. As such, small- and medium-scale enterprises (SME) that have limited budgets are sticking conventional packaging techniques.

COVID-19 Impact Analysis on Market Growth

With nationwide lockdowns in several countries amid the COVID-19 pandemic, packaging converters are substantially shifting towards digital printing packaging.

Findings in the latest NAPCO study indicates that the demand continue to rise, and as majority of print packaging providers offer digital printing, less than half of these firms (46%) indicated that they improved digital print with special effects. While the COVID-19 crisis has cooled down a hot job market, the printing sector’s enduring challenges in hiring would return with the recovery.

As there is acute staff shortage owing to travel bans, the digital printing packaging will complement the present printing techniques well amid the tough time.

Digital Printing Packaging Market - Region-wise Analysis

Asia Pacific currently holds around 45% of total digital printing packaging revenue in 2020, and the trend is poised to increase at healthy pace over the following decade.

The region is a manufacturing hub of packaging materials, account for nearly half of production and shipments. Market players are also exploring growth potentials in Europe, owing to high demand from the food & beverage sector.  

The European Union (EU) is the leading exporter of food and beverages, globally. Furthermore, the study states that North America is expected to reflect potential avenues of growth in the coming years.

Digital Printing Packaging Market - Key Players

Players in digital printing packaging market are enhancing their business footprint by forming mergers & acquisitions (M&A). For instance,

• Paper Converting Machine Co. (PCMC), has acquired IPT Digital  and RDP Marathon Inc. in order to expand  its offerings for customers to incorporate digital printing technology.
• ProMach has acquired Jet Label in an effort to boost its market presence in printing and converting.
• LUX Global Label has taken over Label Worx, which develops prime-pressure-sensitive, flexible, and shrink sleeves packaging. With this acquisition, the company aims to satiate the requirements of multiple fast-growing consumer brands.

Some of the key players in digital printing packaging market include

• Xerox Corporation
• W S Packaging Group, Inc.
• HP Inc.
• Xeikon N.V.
• Mondi PLC
• Eastman Kodak Company
• Quantum Print and Packaging Limited,
• Traco Manufacturing, Inc.

Region

• North America (U.S., Canada)
• Latin America (Mexico, Brazil)
• Europe (Germany, U.K., France, Italy, Spain, Poland, Russia)
• East Asia (China, Japan, South Korea)
• South Asia (India, Thailand, Malaysia, Vietnam, Indonesia)
• Oceania (Australia, New Zealand)
• Middle East & Africa (GCC Countries, Turkey, Northern Africa, South Africa)

Report Highlights

The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.