Digital Printing Packaging Market Set for Rapid Growth by 2024
Sarasota, FL -- (SBWIRE) -- 09/29/2017 -- The concept of digital printing for packaging is specifically introduced to attract customers. This method includes printing of digital images or text on the product packaging. Digital printing concept is introduced in the packaging for expansion of graphic arts, commercial printing, specialty printing, the point of purchase, building wraps, and so on. Digital printing for packaging compared to traditional printing reduces prepress preparatory phase. These graphics are directly taken from the computerized file and transferred into printing equipment. Digital printing for packaging is easier and time-saving comparatively. This printing method is used to make more personalization and unique products outlook. The cost of digital printing and offset printing varies to some extent. However, set-up cost of digital printing is less than offset printing whereas unit cost per copy is quite higher as compared to offset printing.
Demand for digital printing packaging is increasing worldwide which is positively impacting the growth of the global market. Improved productivity and reliability of the digital printing is expected the boost the global market in near future. Further, cutthroat competition among growing companies makes digital printing more cost-effective. Many companies focusing on digital printing packaging to enhance their production and reduce unit costs are anticipated to propel the growth of the global market. Moreover, changing demand from end-users for more attractive and innovative packaging further impacts the market growth positively. In addition, increasing popularity of digital printing which contributes to higher investment in prerequisite machinery in many industries further enhances the market growth.
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The digital printing packaging market is segmented on the basis of the type as cartons, corrugated, flexible packaging, labels, and others. However, label accounted for the largest share owing to varied applications such as variable text, sequential barcodes, titles, graphics, numbering, and value. Further, the global market is categorized based on technology as inkjet, electrostatic, thermal transfer, electrophotography, and others. The inkjet technology is the leading technology segment in the global market, whereas electrophotography is the second leading segment in digital printing packaging market. Furthermore, the global market is divided based on end-user as pharmaceutical, food & beverages, personal care, electronics, and others. Of these, food & beverages is the dominating end-user segment in the digital printing for the packaging market.
North America accommodated for the highest market share owing to higher investment in the digital printing packaging. Europe is the second leading regional segment followed by North America owing to changing demand of buyer for more attractive packaging. Germany is a most demanding market for digital printing packaging market and shows significant growth. Asia Pacific is emerging as a competitive market for digital printing packaging market. However, developing countries like India and China show escalating growth with increasing double income and changing lifestyle. Furthermore, rapidly increasing food & beverage industries in China positively impact the global market growth. Many industries are anticipated to adopt the high-quality standard and customized solution for digital printing packaging driving the global market growth.
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Some of the key players in the global digital printing packaging market are Mondi Plc, and WS Packaging Group, HP Inc., Xerox Corporation, Quad/Graphics, Inc., and E.I. du Pont de Nemours and Company.
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