Feb 5, 2019   SOURCE: BusinessWire

The Global Digital Printing Packaging Market is Set to Reach Revenues of Approx $28 Billion by 2024 - Emerging Demand for Packaging Materials Presents Opportunities - ResearchAndMarkets.com

The "Digital Printing Packaging Market - Global Outlook and Forecast 2019-2024" report has been added to ResearchAndMarkets.com's offering.

The global digital printing packaging market is estimated to reach revenues of around $28 billion by 2024, growing at a CAGR of approximately 11% during 2018-2024.

The report considers the present scenario of the global digital printing packaging market and its market dynamics for the period 2019-2024. It covers a detailed overview of various market growth enablers, restraints, and trends. The study covers both the demand and supply sides of the market. It also profiles and analyzes the leading companies and various other prominent companies operating in the market.

Market Dynamics

Growth Enablers

  • Preference for Enhanced Product Presentability
  • Rise in Consumer Demands across Industrial Applications
  • Persistent Innovation in Service Offerings by Digital Print
  • Augmentation in Micro-brands across Industrial Applications

Growth Constraints

  • Sluggish Adoption of Digital Printing for Packaging
  • Robust Competition and Stringent Geographical Regulatory Landscape
  • Analog Printing Vendors Boosting their Output
  • Lack of Sales and Commoditization of Digital Printing

Opportunities & Trends

  • Emerging Demand for Packaging Materials
  • Technological Advancements in Digital Printing for Packaging
  • Global Macroeconomic Factors Driving Growth
  • Exploration of Additional Packaging Segments and Options

Market Segmentation

This market research report includes a detailed segmentation of the market by technology, end-user application, package type, and geography. The global digital printing packaging market by technology is segmented into inkjet technology and electrophotography.

Inkjet technology segment dominated more than half of the total market share in 2018, growing at CAGR of around 16% during the forecast period. Inkjet technology is one the latest and emerging trend in the global market. The inkjet systems have a certain single-pass system possess separate rows of different print heads for each color, thereby offering smoother and more precise label information in the market.

Electrophotography is the most recognized and widely used solution in label packaging in the global market. The ability to produce top quality prints over a wide range of material substrates will boost the adoption of this technology in the global digital printing packaging market.

The package type in the global digital printing packaging market is classified into labels, corrugated packaging, folding packaging, and flexible packaging. Corrugated packaging is the fastest growing segment in the global market, at a CAGR of approximately 12% during the forecast period. Corrugated boxes and cardboards are the most popularly used package in the global market. The presence of a diverse range of products catering to a wide range of industries is one of the primary factors contributing to the growth of this segment.

Labels comprise of a broad range of details, and it has to contain precise and accurate information. The manufacturers are leveraging labels to enhance the products appeal, resulting in higher demand in the digital printing packaging market. The global digital printing packaging market by end-user application is categorized into food & beverage, electronics, healthcare, personal care, and others. Food and beverage segment occupied more than half of the total market share in 2018, growing at a CAGR of around 11% during the forecast period.

The wide range of products and a shorter lifespan of consumer goods is propelling the growth of this segment in the global market. The rising demand for hand care, color cosmetics, face care, hair care, and body care products are boosting the growth of the personal care segment in the global market. The wide range of products catering to a large group of consumers will create lucrative opportunities for the vendors operating in the digital printing packaging market.

Key Vendor Analysis

The global digital printing packaging market is moderately fragmented due to the presence of top vendors commanding the competition level. The increasing focus on innovations and upgrades will intensify the competition in the global market. The leading vendors are a focus on quality, technology, and price to sustain the competition in the market.

Large manufacturers are shifting and expanding their production facilities in emerging countries such as China, South Korea, Japan, India, and Taiwan in the global market. The introduction of many innovative and advanced solutions will boost revenues in the global digital printing packaging market.

The major vendors in the global market are:

  • HP
  • E. I. Du Pont de Nemours & Co.
  • Mondi
  • Xeikon
  • Xerox

Other prominent vendors include: Quad/Graphics, Cenveo, Dainippon Screen Graphics, EC Labels, Graphix Labels and Packaging, Edwards Label, INX International, Quantum Print and Packaging, Traco Manufacturing, CCL Healthcare, Heidelberg USA, Barberan, Cyan Tec, Hinterkopf, Minolta, WS Packaging Group, Krones, Hymmen, Landa Digital Printing, Mark Andy, and Sun Automation.

For more information about this report visit https://www.researchandmarkets.com/research/w2qfg3/the_global?w=4