CHICAGO, July 1, 2022 /PRNewswire/ — According to new market research report “digital printing packaging market by printing inks (solvent-based, UV-based, aqueous), printing technology, format, packaging type (corrugated, folding cartons, flexible packaging, labels), end-use industry and region – Global forecasts until 2027″published by MarketsandMarkets™, the size of the global digital printing packaging market is expected to grow from $29.4 billion in 2022 at $45.1 billion by 2027, at a CAGR of 8.9% from 2022 to 2027.
The growth of the digital printing packaging market is attributed to the incorporation of digital printing into different packaging media, such as corrugated boxes, cartons, bags, metal, cans, labels and labels. Digital printing on packaging media provides a variety of benefits, such as photorealistic illustrations, aesthetic appeal and improved communicability, and also plays a role in marketing, promotion and distribution activities for end products. . In 2020, the digital printing packaging market was heavily impacted by the COVID-19 pandemic, with its CAGR dropping substantially. However, a recovery has been witnessed with a positive impact on the digital printing packaging market owing to the demand in the construction industry in 2021.
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UV-based printing ink is the fastest growing market
UV-based inks are cured by exposure to strong UV light. These inks are pure solid systems and do not contain solvents. The absence of solvents provides environmental benefits, high speed and faster turnaround time. The curing process takes place through the interaction of ink ingredients and a strong source of UV light in a dryer. They can be cured quickly, increasing print speed and saving production time. UV-based inks include colorants in dye or pigment form. These inks can be applied to a wide range of uncoated substrates and produce a very clear image with excellent color value. Due to their high density, UV-based inks can be printed on rigid substrates. This has increased the use of UV-based inks for printing on POS/POP, wood, metal, glass and other similar substrates.
The demand for these inks is lower than that of water-based inks, as they are expensive, require expensive drying modules in the printer, and the dried ink has a large volume, resulting in slight relief on the surface. The main disadvantages of UV based inks are that they cannot be used on all substrates and cannot be printed on dark substrates and are prone to cracking when applied to flexible substrates. The most common type of UV-based ink used in digital printing is composed primarily of monomeric and oligomeric acrylate resins, along with photoinitiators.
UV based inks are a 100% solids system and do not contain solvents. They emit no VOCs because they are solvent-free. Therefore, using this type of ink helps to reduce environmental impact and achieve excellent color value. The major disadvantage of UV-based ink is that it cannot be used on all substrates and cannot be printed on dark substrates. UV-based inks are only suitable for food packaging labels when completely dry.
The label segment will be the largest type of packaging in the digital printing packaging market
Labels are high quality personalized digital stickers used to mark products. Digitally printed labels can be produced on various label materials such as paper and film. Labels can be used to display barcodes and sequential numbers, variable text, titles or graphics and add substantial value to the product. Some advantages of digital labels include the availability of bright colors, reduced packaging costs, and reduced turnaround times.
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Food and beverages will account for the largest market share
Digitally printed packaging is used in the food industry for fresh food, meat, fish, seafood, produce, poultry and ready meals. With the increase in demand for convenient and quality food products, people are opting for packaged foods.
The food industry needs packaging for the storage, handling and transport of products. Rising demand for product differentiation and labeling to authenticate products is driving the growth of the printing market in the food and beverage packaging segment. To improve the attractiveness and marketability 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 for packaging is expected to increase. Digital printing packaging is believed to be in high demand from the food and beverage industry, primarily due to the growing demand for packaged and branded products.
North America is the second largest market for digitally printed packaging
The North American market includes the United States, Canadaand Mexico. The United States accounted for the largest share of the digital printing packaging market in North America in 2021 in value. The market in this region is mainly driven by technological advancements in the packaging industry. The demand for digitally printed packaging is expected to be driven by factors such as increasing sales of durable consumer goods, high disposable income, growing demand for packaged foods and changing demographics.
Presence of large cosmetic markets along with strong growth in various parts of the region is expected to drive the digital printing packaging market. Large demand for natural and organic cosmetics along with rising per capita spending on beauty and personal care products is increasing the demand for digital printing packaging in the region. Growing competition and manufacturers’ efforts to develop sustainable packaging that reduces packaging waste and at the same time differentiates itself by providing high visibility and aesthetic appeal to the product is also expected to support the growth of the packaging market. digital printing over the next five years. years. Low interest rates, presence of established players, and stringent environmental regulations emphasizing the use of cost-effective and sustainable packaging are also expected to boost the market growth.
The digital printing packaging market includes leading solution providers, Huhtamaki (Finland), Constantia Flexibles (Austria), Quad/Graphics, Inc. (USA), THIMM The Highpack Group (Germany), Printpack (US), DS Smith (UK), Smurfit Kappa (Ireland), Krones AG (Germany), CCL Industries Inc. (Canada) and ePac Holdings, LLC. (United States) among others. The study includes an in-depth competitive analysis of these key Digital Printing Packaging Market players, along with their company profiles and key market strategies.
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