Market Size of Packaging Printing Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 405.20 Billion |
| Market Size (2029) | USD 596.49 Billion |
| CAGR (2024 - 2029) | 8.04 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia-Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Packaging Printing Market Analysis
The Packaging Printing Market size is estimated at USD 405.20 billion in 2024, and is expected to reach USD 596.49 billion by 2029, growing at a CAGR of 8.04% during the forecast period (2024-2029).
The technological advancements, coupled with demand for creative packaging, driven by intense competition and brand awareness, are expected to aid the growth of the market. The growing demand for innovative packaging from end-user segments, such as food, beverage, and cosmetics, among others, is expected to lead to the expansion of the market studied.
- The growth of the print label market is augmented by the rapid rise of digital print technology that has made the label printing market more sophisticated and increased the adoption of digital print labels. Their flexibility and versatility, along with the high graphics standards, are the major growth features. It is possible to print on metallic films, plastics, cellophane, paper, and corrugated surfaces using the flexographic method.
- Moreover, advancements such as AI, machine learning, IoT, and data analytics, have personalized offerings to a great extent. The convergence in digital printing enables superiority in terms of print personalization for large-volume orders. However, the cost factor remains a big hurdle.
- RFID (Radio Frequency Identification) uses radio waves to identify various "tagged" objects or people wirelessly. RFID technology plays a vital role in the market study because it enhances the effectiveness of printing technology. RFID-enabled printers come in various sizes and capacities and can be configured using RFID printer software to meet a wide range of security and other business needs.
- Development in the packaging printing industry, demand for aesthetics, product differentiation, and technological advancements are some digitally printed packaging market drivers. A significant initial investment is required to install production and printing equipment. Setting up a factory or purchasing a printing press requires higher investments. There is a growing demand for economical, sustainable, and innovative printing technologies.
- During COVID-19, as compared to other industries, fewer lockdowns were observed in the packaging industry as the packaging, food, beverage, and medical industries were considered essential. Furthermore, the huge demand for staples and medicines was due to panic-driven buying. Several supply chain constraints resulted in a mixed COVID-19 impact on the packaging printing market growth.
