The digital printing packaging market is forecast to experience a growth rate of 5.1% over the estimated time, as per FMI’s analysis. The industry’s size is predicted to reach a market value of US$ 18.6665 billion in 2023 and is expected to be worth US$ 30.6964 billion by 2033.
Digital printing is gaining traction primarily due to its eco-friendly attributes and the booming commercial packaging sector. This technology minimizes environmental impact by reducing installation waste and eliminating the need for grids, aligning perfectly with sustainability goals.
The role of packaging and printing in shaping a product’s identity and facilitating effective marketing cannot be understated. Digital printing encompasses the printing of graphics, text, patterns, and various visual elements directly onto packaging materials such as transfer films, paper, cardboard, and more. One of the key benefits driving the adoption of digital printing in packaging is its cost-effectiveness, particularly for small and medium-sized print runs, making it an attractive choice for low-volume packaging needs.
The market’s future trends are heavily influenced by the rising consumer demand for personalized packaging solutions. Digital printing plays a pivotal role in enabling cost-effective packaging of products featuring unique designs, materials, and content. Furthermore, customization empowers companies to enhance their brand perception, engage with their customers, and meet the evolving consumer preference for personalized products.
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The digital printing packaging also helps with a brief time-to-market. Digital printing processes are frequently associated with fast setup, production processes, easy data exchange, and intense productivity. Thus, companies can produce small- and medium-sized prints and swiftly update their packaging for business and support.
Several standards, like food safety and labeling regulations, drive the packaging industry. It can be hard to meet these standards for digital printing businesses as some printing inks and technologies may not serve certain requirements. This factor can restrict the use of digital printing in industries with stringent regulations.
The increasing demand for digital printing packaging can be attributed to its ability to cost-effectively produce short print runs, contributing to reduced waste. On-demand printing plays a crucial role in minimizing excess inventory resulting from changes in packaging and graphic designs, promoting sustainability in the industry.
Market Drivers:
- Customization and Personalization: Digital printing allows for high levels of customization and personalization in packaging, meeting the growing demand for unique and individualized products in various industries.
- Short-Run Printing: Digital printing enables cost-effective short-run printing, reducing the need for large inventory levels and minimizing waste. This is particularly advantageous for businesses with diverse product lines and limited storage space.
- Time-to-Market: Digital printing offers faster turnaround times compared to traditional printing methods, allowing companies to bring new products to market more quickly and respond rapidly to changing consumer trends.
- Variable Data Printing: Digital printing technology allows for variable data printing, facilitating the incorporation of individualized information such as barcodes, QR codes, and serialized data on each package.
- Sustainability: As sustainability becomes a key focus in packaging, digital printing can contribute to environmentally friendly practices by reducing waste, energy consumption, and the use of harmful chemicals in the printing process.
- Cost Efficiency for Small Batch Printing: For smaller production runs, digital printing can be more cost-effective than traditional methods, eliminating the need for expensive plates and setup costs.
Market Restraints:
- Initial Capital Investment: The initial cost of investing in digital printing technology can be significant, which may be a barrier for small and medium-sized enterprises (SMEs) looking to adopt this technology.
- Limited Print Speeds for Large Runs: While digital printing is advantageous for short runs, it may not be as efficient for large-scale production compared to traditional printing methods, which can have higher print speeds.
- Material Compatibility: Some digital printing technologies may have limitations regarding the types of materials they can effectively print on, restricting their application in certain packaging segments.
- Quality and Color Consistency: Achieving color consistency and high-quality printing can be challenging in digital printing, especially when compared to some traditional printing methods.
- Dependency on Consumables: Digital printing often involves the use of special inks and toners, and the dependency on these consumables can contribute to ongoing operational costs.
- Technological Obsolescence: Rapid advancements in digital printing technology may lead to concerns about equipment becoming outdated, necessitating ongoing investments to stay competitive.
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Top Highlights from the FMI’s Analysis of the Digital Printing Packaging Market:
- Countries in the Asia Pacific are expected to observe significant CAGR over the forecast period.
- Australia’s digital printing packaging industry is expected to be the next go-to-market in the assessment period as players shift their base from matured markets like the United States and Europe.
- In Latin America, businesses are expected to explore Mexico for upcoming market opportunities.
Recent Developments in this Industry:
- In April 2022, Huhtamaki launched a Push Tab blister lid, a first-to-market PET blister lidding composed of a single material, sans any metal, to serve the healthcare sector. Push Tab blister lid works on the present packaging portfolio without compromising the speed. Therefore, the invention is projected to offer sustainable packaging solutions for the robustly expanding healthcare sector.
- AutajonGroup revealed in September 2022 that the Californian firm ZappPackaging entered its Packaging Division. The acquired company is expected to invigorate the parent company’s operations in the United States, particularly in California.
- Mondi Plc. Introduced myMomdi.net, a web platform for excellent print and design to differentiate its uncoated fine paper (UFP) brands. It briefs the printing and design industry professionals regarding high-quality paper brands, paper recommendations, multimedia content, and local distributor contact information.
- Avery Dennison Graphics Solutions declared its partnership with Siser North America to venture into the crafter/DIY market. Siser has over 40 years of experience in the consumer craft industry as a leader in heat-transfer vinyl and an expert in modification and personalization.
Key Companies Profiled:
- HP Inc.
- Xeikon N.V.
- Eastman Kodak Company
- Landa Corporation Ltd.
- Quad/Graphics Inc.
- Tailored Label Products Inc.
- Creative Labels Inc.
- Reynders Label Printing
- DS Smith Plc
- Thimm Group
- Traco Manufacturing Inc.
- WS Packaging Group Inc.
- Elanders
- Colordruck Baiersbronn
- Mondi Plc.
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Market Segmentations:
By Print Technology Type:
- Liquid Toner Electrophotography Printing
- Nano-Graphic Printing
- Inkjet Technology
- Others (Dye tonner)
By Product Type:
- Labels
- Flexible Packaging
- Films & Wrap
- Bags & Sacks
- Pouches & Sachets
- Corrugated Packaging
- Folding Cartons
- Bottles & Jars
- Metal Cans
- Others
By End User:
- Food
- Beverage
- Alcoholic
- Non-Alcoholic
- Pharmaceutical
- Personal care & cosmetics
- Electronic comp.
- Chemicals
- Other (Automotive, etc.)
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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