Global Printing Market for Packaging 2016-2020
About Printing Market for Packaging
The printing market has a wide range of applications in the packaging industry, including segments like food and beverage, personal care, healthcare, and others. The food and beverage segment held the majority of the global printing market for packaging.
The increase in demand for innovative packaging has driven the growth of the printing market. The packaging industry has undergone a significant transformation over the past decade, with increasing importance of labeling and printing text on the packaging both in terms of promotional aspects and regulatory aspects. This increased importance has boosted the demand of the printing market. The demand for digital printing has increased due to its high-quality printing. Flexography printing will also grow due to the demand for convenient and flexible packaging.
Technavio’s analysts forecast the global printing market for packaging to grow at a CAGR of 6.02% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global printing market for packaging for 2016-2020. Based on type of technology, the global printing market for packaging can be classified into the following segments:
Technavio Announces the Publication of its Research Report – Global Printing Market for Packaging 2016-2020
Technavio recognizes the following companies as the key players in the Global Printing Market for Packaging: AB Graphic International, HP, Landa, RR Donnelley & Sons, Xeikon, and Xerox.
Other Prominent Vendors in the market are: Anglia Labels, Cenveo Labels and Packaging Group, Dainippon Screen Group, EC Labels, Edwards Label, Flexo Image Graphics, Frontier Label, Graphix Labels, Harkwell Labels, Heidelberg Druckmaschinen, Lofton Label, Tonejet and Yerecic Label.
Commenting on the report, an analyst from Technavio’s team said: “The global printing market for packaging is increasingly gaining importance and is experiencing a growing demand from emerging regions like APAC. This packaging market in APAC will experience the fastest growth during the forecast period. Two of the key drivers that are propelling the growth in the emerging regions are the increase in demand for manufactured goods and the increase in the disposable income of people worldwide.”
According to the report, the significance of packaging is increasing worldwide. Apart from providing information about the price and name of the product, packaging in terms of design, color, and ingredients plays a big role in attracting customers. In the highly cluttered markets, creating shelf appeal and visibility is the most important strategy for manufacturers. Hence, manufacturers focus on good packaging to create brand awareness and attract consumers. This also contributes to the growth of the packaging and labeling industry, thereby bringing growth to the printing market for packaging and labeling.
Further, the report states that high capital investment is needed for the digital printing equipment. The cost of digital printing is high because of the high average unit cost of printing. The huge investment requirements prevent the development of new technologies and are a major challenge for the growth of the market.
AB Graphic International, HP, Landa, RR Donnelley & Sons, Xeikon, Xerox, Anglia Labels, Cenveo Labels and Packaging Group, Dainippon Screen Group, EC Labels, Edwards Label, Flexo Image Graphics, Frontier Label, Graphix Labels, Harkwell Labels, Heidelberg Druckmaschinen, Lofton Label, Tonejet, Yerecic Label.
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