Global Digital Packaging and Labeling Market 2019-2023
About this market
The growing awareness of the environmental benefits of digital packaging and labeling is one of the key factors expected to trigger market growth. Digital equipment eliminates the use of manual intervention and molecule heating. In addition, this technique eliminates the use of chemicals while making it a less harmful process for producing plates, unlike the unconventional techniques. Technavio’s analysts have predicted that the digital packaging and labeling market will register a CAGR of over 13% by 2023.
Benefits of variable data printing
One of the growth drivers of the global basil essential oil market is the benefits of variable data printing. The demand for digital packaging and printing is surging due to its variable data printing benefits.
The high price of printing ink materials
The rise in the cost of chemicals for manufacturing printing inks is prompting the vendors to increase the maximum retail price (MRP) of the ink to mitigate the ink production cost. This is negatively affecting the growth of the market during the forecast period.
For the detailed list of factors that will drive and challenge the growth of the digital packaging and labeling market during 2019-2023, view our report.
The market appears to be highly fragmented with the presence of several market players. Vendors in the market are focusing on developing accurate color-matching and high-volume printing using digital technologies. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market’s competitive landscape and offering information on the products offered by companies.
Technavio Announces the Publication of its Research Report – Global Digital Packaging and Labeling Market 2019-2023
Technavio recognizes the following companies as the key players in the global digital packaging and labeling market: A B Graphic International Ltd, BALL CORPORATION, Reel Appeal, Xeikon, and Xerox Corporation.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is the rising demand from consumer goods manufacturers.”
According to the report, one of the major drivers for this market is the environmental benefits of digital packaging and labeling.
Further, the report states that one of the major factors hindering the growth of this market is the high price of printing ink materials.
A B Graphic International LtdBALL CORPORATIONReel Appeal XeikonXerox Corporation
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