The global packaging printing market size was valued at USD 295.62 billion in 2023 and is expected to be worth USD 316.58 billion in 2024. The market is projected to reach USD 579.35 billion by 2032, recording a CAGR of 7.85% during the forecast period.
Packaging printing is the process of applying printed graphics and information onto product packaging in accordance with the brand’s requirements and the characteristics of an enclosed product. The print design is executed through various printing techniques, which aims to effectively communicate and promote the product’s value to customers in both the market and the e-commerce platform. The global packaging printing market is anticipated to experience growth driven by the rising demand for printed cartons and labels.
The COVID-19 pandemic had a significant impact on the global supply chain, disrupting the operations of various industries worldwide. However, it also led to a surge in growth of several industries, including shipping and logistics, e-commerce, and food & beverages.
Fortune Business Insights™ displays this information in a report titled, "Packaging Printing Market, 2024-2032."
Packaging Printing Market, Segmentation:
Adoption of Flexography Printing Increases Owing to its Enhanced Productivity and Cost-Effectiveness
Based on printing process, the market is segmented into flexography printing, offset printing, digital printing, lithography printing, gravure printing, and others. Flexography printing has emerged as the dominant printing process, commanding the largest market share. This printing offers a range of advantages that makes it a preferred choice for various packaging solutions, such as productivity, cost-effectiveness, sustainability, and higher-consistent quality.
Printed Boxes & Cartons Dominated Market Due to its Enhanced Customer Experience and Increased Brand Protection
Based on packaging type, the market is segmented into boxes & cartons, labels & tags, bags & pouches, and others. Boxes & cartons emerged as the dominant packaging type in the market. The growth of this segment can be attributed to several factors, such as increased brand protection and awareness, cost-effectiveness, enhanced customer experience, and elevated design flexibilities.
Food & Beverage Sector Dominated Market Due to Advantages of Printed Boxes & Cartons
Based on end-use industry, the market is segmented into food & beverages, personal care & cosmetics, pharmaceuticals, consumer goods, and others. The food & beverage industry is the leading end-use industry segment. This segment utilizes packaging solutions such as printed boxes & cartons due to several advantages, including cost-effectiveness, quicker turnaround times, and high-quality results.
With respect to region, the market covers North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Report Coverage:
The report has conducted a detailed study of the market and highlighted several critical areas, such as leading applications, printing processes, packaging types, end-use industries, and key market players. It has also focused on the latest market trends and key industry developments. Apart from the aforementioned factors, the report has given information on many other factors that have helped the market grow.
Drivers and Restraints:
Exponential Growth in Food & Beverage Industry to Drive Market Growth
The packaging printing industry has witnessed substantial expansion in recent years. The food and beverage sector’s exponential growth is identified as a crucial factor in driving its accelerated development. Printing on food packaging creates a unique and memorable brand identity, enabling the brand to differentiate itself from competitors and enhance its customer base and loyalty. The customer’s initial impression through printed packages has also contributed to increased brand recognition, trust, and lucrative growth prospects.
However, a substantial initial investment is required and strict rules and regulations could slow down or restrict the packaging printing market growth.
Regional Packaging Printing Market, Insights:
North America Dominated Market Due to Strong Presence of Prominent Packaging and Printing Manufacturers
The North American region leads the global packaging printing market share due to the strong presence of prominent packaging and printing manufacturers.
Asia Pacific secured the position of the second-dominant region and is poised to become a significant player in the market in the coming years. This growth can be attributed to the region’s rising demand from pharmaceutical and consumer goods sectors. These industries are seeking printed packaging solutions to provide accurate and detailed product information, such as nutritional information, ingredients, and usage instructions.
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LIST OF KEY COMPANIES PROFILED IN THE REPORT
Amcor Plc (Switzerland), Stora Enso Oyj (Finland), CCL Industries Inc. (Canada), Constantia Flexibles (Austria), Smurfit Kappa (Ireland), Huhtamaki Oyj (Finland), WestRock (U.S.), Mondi (U.K.), International Paper Company (U.S.), Sonoco Products Company (U.S.), Sealed Air (U.S.), Tetra Pak (Switzerland), DS Smith (U.K.), Rengo Co., Ltd. (Japan), American Packaging Corporation (U.S.)
Competitive Landscape:
Companies to Focus On Diversifying and Expanding their Portfolio to Remain Competitive
The key players operating in this market are increasing their focus on offering innovative packaging in the packaging industry. They are also focusing on expanding their customer base across the regions and innovation. Major players in the market are also focusing on delivering advanced packaging solutions.
Notable Industry Development:
June 2023: Amcor announced the expansion of its high-performance paper packaging range in Europe, including heat-sealed sachets for dry culinary and beverage products. This development aims to enhance the manufacturing capacity for paper packaging, particularly in Spain. The advanced production line at the Amcor Flexibles Alzira plant integrates cutting-edge printing, barrier technology, and sealing processes to ensure high-quality packaging solutions.