Light-Changing Packaging Inks Market Outlook
During the forecast period, the light-changing packaging inks market size is expected to increase from US$ 9,500 Mn in 2022 to US$ 15,470 Mn by 2032. The sales of light-changing packaging inks are anticipated to grow at a CAGR of 5% during 2022-2032. Major growth drivers of the light-changing packaging inks industry are:
- Food & beverage, cosmetics, healthcare, and other end-use industries have boosted their demand for light-changing packaging ink, which is expected to fuel growth in the global market.
- Additionally, it is projected that rising demand for more practical and environment friendly packaging is likely to support the global market.
- The global market is also anticipated to grow in the next years as a result of other factors, such as increased disposable income and changing lifestyles.
- Another significant market-stimulating aspect is the low cost of light-changing packaging inks.
Light-Changing Packaging Inks Market Value (2022)
US$ 9,500 Mn
Light-Changing Packaging Inks Market Forecast Value (2032)
US$ 15,470 Mn
Light-Changing Packaging Inks Market CAGR (2022-2032)
Trends in Various End-use Industries are the Primary Sales Drivers of Light-Changing Packaging Inks
Bottle packaging trends driven by health are essential to improvements in parallel with customer desire for secure packaging. Since some ink formulas are known to have negative effects, the market for packing ink is subject to regulations and laws. If the ink formulation contains volatile organic compounds or is a solvent-based ink, the end-user segments of food and pharmaceutical packaging are most likely to be impacted.
To satisfy customer expectations, vendors operating in the market are aligning their operations with the current market demands and incorporating more innovation and higher-quality packaging into their products. The sales of light-changing packaging inks are expected to grow and have a substantial impact on the revenue growth of key players.
How ecommerce Plays a Crucial Role in Spreading the Adoption of Light-Changing Packaging Inks?
The rise in the ecommerce industry is likely to increase demand for light-changing packaging inks as these inks are utilized in the packaging of items sold online. ecommerce is a widely chosen retail format in the global market, particularly among young consumers who prefer to purchase online using their smartphones. The demand for light-changing packaging inks has increased as a result of the fast global expansion of m- and e-commerce.
The distribution of personal care products affects demand for light-changing packaging inks, which in turn affects revenue, and plays a significant part in a company's success. Personal care goods’ firms now have a wider customer base due to the expanding use of the internet and ecommerce worldwide. The advantages of ecommerce have benefited both consumers and businesses in terms of cost and the wide variety of alternatives available to them. Furthermore, the internet distribution channel has drawn in new clients. This is likely to be the source of market growth throughout the projection year.
Light-changing packaging inks are manufactured with chromatic technologies, which is a type of photochromic inks. Light-changing packaging inks change when exposed to sunlight and are suitable for food & beverage. These packaging Inks are a line of products which are used on film, paper, and pressure sensitive labels on foods & beverages, and many other products.
Light-changing packaging inks are first ever packaging inks in the packaging market to combine rapid change when exposed to sunlight, a full range of colors, durable photochromic performance, and are color-fastness when hit by UV rays. The leading groups of color-changing inks are photochromic, which react to deviations in exposure to UV light, and thermochromic, which change color in response to temperature variations.
Both of color-changing inks are highly preferable in Light-changing packaging inks market for various industry such as food & beverages, cosmetics, healthcare, and others.
Light-Changing Packaging Inks Market: Market Dynamics
The major factors which are driving the growth of light-changing packaging ink market are growing packaging ink market, flexible packaging and narrow web and labels market. Moreover, increasing disposable income and growing usage of light-changing packaging inks in food & beverage industry are boosting the demand for light-changing packaging Inks in a market.
Also, light-changing packaging inks remain to be a growth factor for ink and printers manufacturers, with particularly strong opportunities in low migration inks for flexible packaging, food packaging, energy narrow and curing label and the web. The overall light-changing packaging ink markets are expanding globally, as flexible packaging markets with pouches, bags and with surface and lamination designs are growing at faster pace. Currently, with the packaging industry growing rapidly, brand owners are looking for new advanced technologies which can differentiate their products in the competitive market.
Light-changing packaging ink manufacturers are introducing new differentiated and more attractive packaging products for the industry. On the other hand, the major factors which are restraining the growth of light-changing packaging ink market are high operating cost and decline in ink manufacture industry.
Light-Changing Packaging Inks Market: Regional Outlook
By geography, the light-changing packaging inks market is segmented into five regions including North America, Latin America, Europe, Asia-Pacific and the Middle East & Africa. The light-changing packaging inks market is expected to register significant CAGR during the forecast period. North America is experiencing a rapid increase in the production capacity of light changing ink packaging market, as photochromic inks manufacturers are growing in the region.
The Europe light-changing packaging inks market is projected to register healthy growth as flexible packaging market is growing. Also, the inclination of consumers toward new color changing technology for food & beverages products is driving the growth of light-changing packaging inks market in Europe. Moreover, Asia-pacific accounted for significant market share in the light-changing packaging inks, as inks and printing market in the region is growing with rising demand for light-changing inks in food & beverages industry. The demand for the light-changing packaging inks is comparatively high in US and Canada due to increasing due to rising disposable income and growing flexible packaging industry.
Light-Changing Packaging Inks Market: Key players
Some of the few player’s global light-changing packaging inks are CTI, Videojet Technologies, Inc., Sun Chemical Group, and many others. The top leading players of light-changing packaging inks market are focusing on demand of light-changing packaging inks in food & beverage industry and are offering advanced technologies for packaging.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geography, technology, and applications.
The Report covers exhaust Analysis on
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends /Issues/Challenges
- Competition & Companies involved
Regional Analysis includes
- North America
- Latin America
- Asia Pacific
- Middle East & Africa
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.
Light-Changing Packaging Inks Market: Market Segmentation
The global light-changing packaging inks is segmented into four parts based on the ink type, material type, application, and geography.
Based on the ink type the light-changing packaging inks market is segmented into:
- Photochromic Ink
- Thermochromic Ink
- Sunlight Ink
Based on the material type light-changing packaging inks market is segmented into:
- Paper & Paperboard
- Flexible plastic
- Rigid Plastic
Based on the type of application light-changing packaging inkmarket is segmented into:
- Cosmetics & Toiletries
- Food & Beverages