Market Trends of Commercial Printing Industry
This section covers the major market trends shaping the Commercial Printing Market according to our research experts:
Packaging Segment Expected to Witness Significant Growth
- Folding cartons, flexible packaging, and label printing are the three packaging applications that require printing and cutting, with folding cartons adding a few more processes to the file preparation (structural CAD files) and finishing (die-cutting, folding, gluing).
- With a rise in the digital delivery of information, commercial printers have been observed to be imbibing digital technologies to enhance packaging print quality. Quick response (QR) codes have become a basic/mainstreamed print on product packaging to be scanned with a smartphone for additional display of data, such as product info and promotional content.
- Additionally, the demand for printing from packaging and labels for pharmaceuticals, tobacco products, and alcoholic beverages is expected to increase, as the companies must comply with dynamic government regulations and protect against counterfeiting.
- Increased cooperation among the convertors and retailers surrounding packaging has led to the development of innovative ways of customer enticement. Online shopping and curating personalized experiences have further aided the market for commercial printing in the packaging domain. Owing to this, many packaging companies are investing in commercial printing solutions, thus boosting the market's growth.
- Furthermore, the booming e-commerce market across the world offers a lucrative opportunity for commercial printing providers, as e-commerce players rapidly adopt innovative printing solutions for their daily packaging. As e-commerce grows, its relative share of brick-and-mortar retail sales, the allied stakeholders, from logistics to warehousing to retail brands, have begun to invest in technologies unique to the specific needs of e-commerce.
- In October 2021, Xeikon announced two new label presses, the Xeikon PX3300 and Xeikon PX2200, to expand its Panther UV inkjet technology portfolio and help in advancing the digitization of print manufacturing. The Xeikon PX2200 and PX3300 use the company's Panther DuraCure UV technology to produce high-gloss labels with high scruff resistance. This reportedly offers a wide color range and long-term durability for applications, including industrial, chemical, household, and high-end labels for the premium beverage, health, and beauty sectors.
- Such developments in innovative and sustainable printing offer a promising future for commercial printing in the packaging industry. In addition, the growing number of investments, mergers, and collaboration activities among commercial printing and packaging providers may enhance the product offerings and cater to a higher level of demand, thereby boosting the growth of the studied market.
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Asia-Pacific Dominates the Market
- The Asian-Pacific region accounts for a significant market share due to increasing demand from critical regions like China, India, the Philippines, Vietnam, and Thailand. Factors such as the inception of new technologies, changing lifestyles, rise in e-commerce, and urbanization, are driving the growth of the printing market in the region.
- Factors such as the inception of new technologies, changing lifestyles, and the rise in e-commerce and urbanization are driving the growth of the commercial printing market in the region. Moreover, the increasing demand for processed and canned food in emerging markets such as China and India is expected to impact the market in the region positively. Also, the increasing disposable income in the region is resulting in the growing demand for interior design with customized wallpapers.
- The Chinese economy has experienced significant growth over the last few decades, which made the country the world's second-largest economy. The Chinese population is the largest in the world. Simultaneously, the economy is growing at a consistently high rate. Being the home of major manufacturers and attracting multiple Fortune 500 companies, the Chinese commercial printing market and the opportunities for the adoption of digital printing technologies have grown.
- According to the Confederation of Indian Industry (CII), India is anticipated to become the fifth-largest consumer market by 2025. Also, according to an ASSOCHAM-EY joint study, India's print and packaging industry is expected to grow to USD 72.6 billion by 2020, registering a CAGR of 18%. The All-India Federation of Master Printers (AIFMP) estimates that the country may have more than 250,000 MSMEs and big printers. The data from AIFMP also suggests that commercial printing in the country is growing at an annual rate of around 10%, while digital printing is growing at a robust growth rate of 30%.
- According to the Indian Printing, Packaging, and Allied Machinery Manufacturers' Association (IPAMA), the packaging industry may continue to grow due to the rapid changes undertaken by the industry players. The country's e-commerce boom and organized retail sector offer massive potential for the packaging sector's growth, thereby supporting the commercial printing industry. Other factors, such as the booming economy, increasing consumerism, entry of global brands, and rising interest of foreign investors, are bound to offer growth opportunities to the industry.
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