Packaging Printing Market Growth Accelerated by Developments in Hybrid Packaging Technologies

Packaging printing plays a critical role in protecting products and enhancing their shelf appeal. It involves processes like flexography, offset lithography, rotogravure, and digital printing to print packaging boxes, labels, cartons, bags and other formats. Packaging printing offers features like branding, product information, safety warnings, and instructions for use. The global packaging printing market is estimated to be valued at US$ 375.05 million in 2023 and is expected to exhibit a CAGR of 9.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

Developments in Hybrid Packaging Technologies

 Hybrid printing uses a combination of traditional and digital printing methods. For instance, flexo printing can be combined with inkjet printing to allow for on-demand customization and personalization. Hybrid printing offers benefits like reduced waste, lower production runs, and faster turnarounds. It allows packaging printers to efficiently cater to small batch sizes and just-in-time production demands. The advent of hybrid technologies is expected to boost the packaging printing market during the forecast period.

Segment Analysis

The Global Packaging Printing Market can be segmented on the basis of printing type, packaging type, end use, and geography. Based on printing type, the flexography printing segment currently dominates the market. Flexography is suitable for printing on various substrates like plastics and packaging materials. It offers consistency and quality in high-volume printing.

Key Takeaways

The global packaging printing market is expected to witness high growth over the forecast period. Strong growth in the FMCG sector and rapid industrialization have boosted the sales of packaged goods, driving the demand for packaging printing.

Regional analysis: The Asia Pacific region currently dominates the global packaging printing market and is expected to maintain its lead over the forecast period. Rapid economic growth and rising disposable incomes in countries like China and India have increased the demand for packaged consumer goods in the region. The growth of retail and e-commerce sectors is further propelling the packaging printing market in Asia Pacific.

Key players operating in the packaging printing market are Sanofi S.A, Pfizer, Inc., Merck & Co., Inc., GlaxoSmithKline plc., Bharat Biotech, Serum institute of India Pvt. Ltd., Biological E. Limited, Bio-Med, Bavarian Nordic, CSL Limited, Novartis AG, Vaxcyte, GSBPL, and Taj Pharmaceuticals Limited. Sanofi S.A. is one of the leading players owing to its wide product portfolio and global presence. Pfizer also has a significant share due to its strong brand recognition and marketing capabilities.

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