The global digital printing packaging market size is projected to grow from USD 29.4 billion in 2022 to USD 45.1 billion by 2027, at a CAGR of 8.9% from 2022 to 2027. The growth of the digital printing packaging market is because of its ability to offer aesthetic appeal to packed products as most purchasing decisions are made at the point of sale. The usage of digital printing in packaging is growing, and the need to reduce the cost of printing without compromising the quality of the image will drive the market for digital printing. In 2020, the digital printing packaging market had a nominal impact on its demand due to COVID-19. Slowing raw material production, supply chain disruption, hampered trade movements, declining construction demand, and reduced demand for new projects also have hampered market growth.
The digital printing packaging market has major players including DS Smith (UK), Smurfit Kappa (Ireland), CCL Industries Inc. (Canada), Quad/Graphics Inc. (US), and Printpack (US)., among others. These players have adopted various growth strategies, such as mergers & acquisitions to increase their market shares and enhance their product portfolios.
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DS Smith is a global leader in customer-specific packaging with an emphasis on cutting-edge packaging design and local service close to customer facilities. DS Smith meets every market requirement with a product portfolio that includes transit packaging, consumer packaging, displays and promotional packaging, customized protective packaging, and industrial packaging. The company offers packaging solutions, paper products, and recycling services for industries such as food & drink, consumer goods, industrial, e-commerce & e-retail, and converters. DS Smith operates in over 30 countries. It offers packaging solutions in North America, Europe, and Asia Pacific. The company follows a circular business model.
Smurfit Kappa is Europes leading manufacturer of corrugated packaging, containerboard, and bag in box. It is the only pan-South American manufacturer of corrugated and containerboard packaging. The company operates in 36 countries, has 242 packaging conversion plants, 34 paper mills, 46 recycling plants and wood procurement, and 34 other production facilities. It provides packaging of 11.7 billion m2 per year. Smurfit Kappa has 350 production sites worldwide, with locations in 23 European countries and 13 American countries. Smurfit Kappa is a member of the FTSE 100.
CCL Industries is the worlds largest label company and a global specialty packaging pioneer. The company has 204 manufacturing facilities across 43 countries on six continents. CCL is the worlds largest converter of pressure-sensitive and specialty extruded film materials for decorative, instructional, functional, and security applications for government institutions and large global customers in the consumer packaging, healthcare and chemicals, consumer electronic devices, and automotive markets. Extruded and laminated plastic tubes, aluminum aerosols and specialty bottles, folded instructional leaflets, precision decorated and die cut components, electronic displays, polymer bank note substrates, and other complementary products and services are sold concurrently to specific end-use markets.
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Labels segment to be the largest packaging type in digital printing packaging market
Labels are high-quality, colored, custom digital stickers used for branding products. Digitally printed labels can be produced on various label materials such as paper and film. Labels can be used for displaying sequential barcodes and numbering, variable text, titles, or graphics and add substantial value to the product. Some benefits of digital labels include availability of vibrant colors, reduced packaging costs, and reduced turnaround time.
Food & beverage to account for the largest market share
Digital printing packaging is used in the food industry for fresh food, meat, fish, seafood, fresh produce, poultry, and ready meals. With the increase in demand for convenience and quality food products, people opt for packaged foods.
The food & beverage industry requires packaging for the storage, handling, and transportation of products. Increase in demand for product differentiation and labeling to authenticate products drives the market growth for printing in the food & beverage packaging segment. To enhance the shelf appeal and salability of products, the demand for digital printing is expected to increase. As digital printing offers high print quality, color assortment, and print-on-demand facility, its demand in packaging is expected to increase. Digital printing packaging is estimated to experience high demand from the food & beverage industry, mainly because of the growing demand for packaged and branded products.
