The variable data printing market was US$ 10.5 billion. The market for variable data printing is anticipated to reach US$ 31.2 billion by 2030, expanding at a 12.9% CAGR from 2022 to 2030.
The market for variable data printing (VDP) is being driven by the growth of the retail sector and rising costs for labelling and tagging all products. According to Future Market Insights, the healthcare and food and beverage industries will continue to play a significant role in the expanding use of variable data printing as consumers demand clear, comprehensive labelling.
Since end customers frequently want flexibility when printing labels, the market’s product labelling segment is expected to grow dramatically during the time of forecasting. Variable data printing is a popular option since it allows for the customization of artwork, data, and content without impairing the bulk printing process. The market for printing with variable data is expected to grow at a CAGR of 12% from 2020 to 2030.
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Key Takeaways from the Variable Data Printing Market Report:
- North America is expected to hold a significant share in the global variable data printing market as the adoption of RFID labels and creative labelling increases
- Accelerated adoption of variable data printing in the food & beverage industry will propel the growth of variable data printing by 13% during the forecast period
- Barcodes and QR code printing are expected to hold a significant share of 36% during the forecast period in the globally market as digital wallets become the new normal for making payments
- Retail and CPG segment will exhibit a CAGR of 18.5% between 2020 and 2030 in the South Asia & Pacific variable data printing market creating potential growth opportunities for vendors
COVID-19 Pandemic Impact Analysis:
With the supply of only essential goods and restricted movement, the lockdown has had a massive impact on the global printing industry, bringing it to a near-standstill. Only a handful of companies have been able to continue operations with 20-25% staff, slowing operations and creating uncertainty in business.
While manufacturing companies have been allowed to run at 50 per cent capacity, most label printing companies are running at as low as 15-20% production capacity. In the past 5 years, the market for variable data printing has grown by almost 10% globally. However, the COVID-19 outbreak is expected to cause a shift in these statistics as demand for non-essential items such as clothing and cosmetics is projected to drop.
On the other hand, analysts project that the demand for variable data printing will remain high in the pharmaceuticals and food & beverages sectors in Q2 2020, a trend that will continue through Q3 and Q4 2020. The indispensable need for products these sectors manufacture, impeccable logistics built by the e-commerce industry to make them available to end users, and smart tracking with RFID labelling could offset the losses the market is expected to suffer.
Leading Key Players:
- HP Inc.
- Canon, Inc.
- Xerox Corporation
- RR Donnelley & Sons Company
- 3M Company
- Mondi PLC
- Avery Dennison Corporation
- Quad/Graphics, Inc.
- Cenveo, Inc.
- Ws Packaging Group, Inc.
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Variable Data Printing Market Segmentation:
By Component:
- Variable Data Printing (VDP) Machine
- Variable Data Printing (VDP) Software
- Services
- Personalized Printing Services
- Support Services
By Application:
- Barcodes/QR Code Labels Printing
- Advertising Stickers Printing
- Plastic Cards/PVC Printing
- Product Labels Printing
- Others
By Industry:
- Retail and CPG
- Pharmaceuticals
- Electronics and Electricals
- Food and Beverages
- Logistics
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- Middle East and Africa (MEA)
About Future Market Insights (FMI):
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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