Packaging Printing Market worth $433.4 billion by 2025 : Growing at a CAGR of 4.2%

CITY, Country, 2021-Oct-19 — /EPR Network/ —

The report “Packaging Printing Market by Printing Ink (Aqueous, UV-based), Printing Technology (Flexography, Gravure, Digital), Packaging Type (Labels & Tags, Flexible), Application (Food & Beverages, Cosmetics, Pharmaceuticals), & Region – Global Forecast to 2025″The global packaging printing market size is projected to grow from USD 352.1 billion in 2020 to USD 433.4 billion by 2025, at a CAGR of 4.2% from 2020 to 2025. The market is projected to grow in accordance with the increase in the demand for packaging printing for attractive packaging of food & beverage products across the globe. Furthermore, the market is witnessing demand, owing to the rise in manufacturing activities. The market is driven by factors such as strong growth in the packaging industry, along with the growing demand for aesthetic appeal and innovative printing techniques.

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The labels & tags segment is estimated to have the largest share in 2019

The packaging printing market, on the basis of packaging type, is classified into labels & tags, flexible packaging, corrugated, folding cartons, and others, which includes wood and textile packaging. The labels segment accounted for the largest share in 2019, due to its numerous applications such as displaying sequential barcodes and numbering, variable text, titles, or graphics and add substantial value to the product.

The food & beverages segment is estimated to be the fastest-growing segment during the forecast period

The food & beverages segment is estimated to be the fastest-growing segment during forecast period (2020–2025). The demand for packaging printing is experiencing high demand from the food & beverage industry, mainly because of the growing demand for packaged and branded products. An increase in demand for product differentiation and labeling for their authentication drives the market growth for printing in the food & beverage packaging segment.

Asia Pacific projected to account for the largest share in the packaging printing market by 2025

Asia Pacific, with emerging economies such as China and India, is expected to drive the packaging printing market. China is projected to account for the largest market share and dominate the Asia Pacific packaging printing market by 2025. The growing healthcare and food & beverage industries are likely to drive the demand for packaging printing in China. In addition to this, the country’s large consumer base, overall positive economic environment, and an increase in manufacturing activities will drive demand in the packaging industry.

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The major players include Mondi plc (Austria), Sonoco Products Company (US), Graphics Packaging Holding Company (US), Quad/Graphics (US), Amcor Limited (Australia), Constantia Flexibles (Austria), Quantum Print and Packaging Limited (UK), WS Packaging Group (US), Toppan Printing Company (Japan), and Duncan Printing Group (UK). Companies have adopted strategies such as new product launches and acquisitions to cope with the increasing demand in the emerging markets.

COVID-19 impact on global packaging printing market

The global packaging printing market is expected to witness a moderate decrease in its growth rate in 2020-2021, as the packaging and market for chemicals, luxury goods, construction amongst other applications, will witness a significant decline in its demand owing to the lockdown activity across the globe. However, there will be an increase in the demand for packaging printing solutions for food & beverage and pharmaceutical applications, during COVID-19.

• People are resorting to panic-buying and bulk stocking due to the fear of lockdowns. More people are ordering daily staples and fresh food through online channels, which leads to an increase in the demand for packaging printing solutions which determines the authenticity of the product. Governments of many affected countries, for instance, India, have asked the food industry players to ramp up production to avoid supply-side shocks and shortages and maintain uninterrupted supply. FMCG companies are responding by demanding more of packaging printing solution to maintain their brand image. For example, Britannia Industries has urged the Indian government to ensure interstate movements of suppliers of raw materials and packaging solutions.
• The demand for packaging printing in the pharmaceutical industry, is expected to remain robust as hospitals, drugs, and PPE manufacturers are responding to the crisis. The demand for household essentials, healthcare, and medical goods is not expected to decrease dramatically, and retail distribution for these types of products through online delivery can be expected to increase. This in turn, boosts the demand for packaging printing solutions for the authenticity of the product to avoid anti-counterfeiting of the medicines and consumer goods.

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