Increasing Demand from E-Commerce Sector to Drive Digital Printing Packaging Market
According to our new research study titled "Digital Printing Packaging Market to Forecast 2028 – COVID-19 Impact and Global Analysis – by Ink Type, Packaging Type, End-Use Industry, and Geography," the market is projected to reach US$ 32,255.60 million by 2028 from US$ 19,131.13 million in 2022. It is expected to register a CAGR of 9.1% from 2022 to 2028.
Digital printing produces higher quality prints than traditional prints. Printing on packaging of a product is important for any manufacturer to attract consumers, as well as to mention information such as brand name. The increasing demand for digital printing packaging among various end-use industries such as food and beverage, pharmaceuticals, and personal care and cosmetics is fueling the digital printing packaging market growth.
Digital Printing Packaging Market Breakdown – by Region
Digital Printing Packaging Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Ink Type (Solvent-based, UV-based, Aqueous, and Others), Packaging Type (Corrugated, Folding Cartons, Flexible Packaging, Labels, and Others), and End-Use Industry (Food and Beverages, Pharmaceuticals, Personal Care and Cosmetics, and Others)
Digital Printing Packaging Market Size, Growth, Trends 2028
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Despite the ongoing surge in COVID-19 cases, the digital printing packaging sector seems to be benefiting from a speedy recovery in the region's economy. According to the Brazilian Packaging Association (ABRE), Brazil reached a gross value of US$ 17.2 billion in packaging's physical production in 2020—a growth of 22.3% over the previous year. Moreover, increasing investments by major food and beverage manufacturers, such as Coca-Cola, is expected to propel the growth of the digital printing packaging market in South & Central America during the forecast period. The rise in investment in R&D activities and technological innovation related to digital printing packaging is also expected to bolster the digital printing packaging market growth.
Key players operating in the global digital printing packaging market include HP, Inc.; Xerox Holdings Corp.; Reel Appeal Ltd.; Mondi Plc; DuPont De Nemours, Inc.; Xeicon BV; Quantum Print and Packaging Ltd.; Weber Packaging Solutions, Inc.; and DS Smith Plc. These companies have a widespread global presence, which allows them to serve a large set of customers and subsequently increases their market share. They heavily focus on new products launch and geographical expansion to expand their product range in specialty portfolios.
Impact of COVID-19 Pandemic on Digital Printing packaging Market
The COVID-19 pandemic has adversely affected the growth of the chemicals & materials sector and the digital printing packaging market. The implementation of measures to combat the spread of SARS-CoV-2 has negatively impacted the growth of various industries. Industries such as packaging, consumer goods, automotive and transportation, textiles, and building & construction have been adversely affected by the sudden disruptions in operational efficiencies and value chains due to the sudden closure of national and international boundaries. The lockdowns imposed by the governments in various countries in 2020 have placed restrictions on the opening of production facilities, which decreased the use of digital printing packaging and thus hindered the growth of the market.
The global marketplace is recovering from the losses as governments of different countries have announced relaxation in the restrictions. Manufacturers are permitted to operate at full capacity, which is helping them to overcome the supply gap. Moreover, the rising vaccination rate is positively boosting the overall growth of the industry. The pandemic led to a change in consumer habits of purchase. During the COVID-19 pandemic, consumers across the world shifted toward online purchasing of food & beverage and pharmaceutical products. This factor is projected to present lucrative growth opportunities for the digital printing packaging market over the forecast period. Hence, assuring the digital printing packaging market growth.
The report segments the digital printing packaging market as follows:
Based on ink type, the digital printing packaging market is segmented into solvent-based, UV-based, aqueous, and others. Based on packaging type, the market is segmented into corrugated, folding cartons, flexible packaging, labels, and others. Based on end-use industry, the digital printing packaging market is segmented into food and beverages, pharmaceuticals, personal care and cosmetics, and others. Based on geography, the digital printing packaging market is segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America (SAM).
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