India Print Industry Market Outlook to 2028

India Print Industry Overview

The India print industry is valued at USD 260 billion, driven primarily by the rising demand for packaging and commercial printing solutions. This market growth is further fueled by advancements in printing technology, particularly digital and offset printing. The packaging segment plays a role due to the rapid expansion of the e-commerce sector, which has increased demand for high-quality and efficient packaging solutions. Additionally, businesses increasingly seek customized printing options, further boosting market demand.

Major cities such as Mumbai, Delhi, and Bangalore dominate the print industry in India due to their large consumer base, high concentration of industries, and being the hub of the publishing and advertising sectors. These cities also house numerous printing companies and serve as the primary centers for marketing and advertising activities. Their strategic location and proximity to key industries, including manufacturing and retail, contribute to their dominant position in the market.

The Indian government’s Make in India initiative has been instrumental in promoting the domestic production of printing equipment and materials. By 2023, policies under this initiative had facilitated over INR 60 billion in investments into the print sector, encouraging local manufacturing of high-quality printers, inks, and paper. The initiative supports local manufacturers through tax breaks and subsidies, promoting job creation and reducing dependency on imports.

India Print Industry Segmentation

By Print Type: The market is segmented by print type into digital printing, offset printing, flexography, gravure, and screen printing. Digital printing holds a dominant market share within the print type segment, primarily due to its cost efficiency, quick turnaround times, and flexibility in delivering short-run projects. Digital printing has gained immense traction in sectors such as advertising and commercial printing, where customization and timely delivery are critical. This segment is also widely adopted in the packaging sector as it supports a variety of substrates, including paper, plastic, and metal.

By Application: The market is also segmented by application into packaging, commercial printing, publications, advertising and marketing, and textile printing. The packaging segment dominates the market, driven by the e-commerce boom, which has increased the demand for printed packaging materials. The rise in consumer awareness regarding sustainable packaging solutions has also led to innovations within this segment, prompting the need for eco-friendly inks and substrates. Additionally, the food and beverage industry’s requirement for high-quality, durable packaging drives growth in this sector.

India Print Industry Competitive Landscape

The India print industry is characterized by the presence of several large domestic and international players. These companies are focused on expanding their product offerings, improving production efficiency, and incorporating sustainable practices to meet the growing demand for eco-friendly solutions. Major players in the market have established themselves in key cities, providing comprehensive solutions across different printing applications. The competitive landscape in the print industry is marked by consolidation, with a few major companies dominating the market through strategic partnerships, mergers, and acquisitions.

Company Name

Establishment Year

Headquarters

Revenue (USD Bn)

No. of Employees

Technology Focus

Sustainability Initiatives

Key Clients

Product Range

Canon Inc.

1937

Tokyo, Japan

HP Inc.

1939

Palo Alto, USA

Ricoh India

1936

Tokyo, Japan

Konica Minolta Business Solutions

1873

Tokyo, Japan

Heidelberg India

1850

Heidelberg, Germany

India Print Industry Analysis

Growth Drivers

Rising Digital Printing Demand: The Indian print industry is experiencing demand for digital printing solutions, driven by the rapid digital transformation across sectors. By 2024, India’s digital infrastructure had surged, with over 840 million internet users, facilitating greater online interactions and transactions, which in turn fuels the need for digitally printed materials in sectors like advertising, packaging, and retail. The growth of small and medium enterprises (SMEs) has further amplified demand for cost-effective, high-quality digital prints. The government’s Digital India initiative is supporting the development of digital infrastructure, providing businesses the tools to adopt digital printing technologies.

Increasing Customization Needs: Customization in packaging and advertising has become a crucial factor in the Indian print industry. With the packaging sector projected to grow due to the increasing number of e-commerce platforms (over 350 million e-commerce users in 2023), brands are investing in unique, customized packaging solutions to stand out. Moreover, the Indian advertising industry’s annual spending is expected to exceed INR 1 trillion by 2024, with customized print ads playing a crucial role in marketing campaigns. This rise in customization is driving demand for innovative print technologies and advanced printing solutions.

Adoption of Advanced Printing Technologies: Technological advancements, such as inkjet and 3D printing, are reshaping the Indian print industry. The adoption of inkjet printers is on the rise, with businesses investing in this technology for high-speed, high-quality prints. The inkjet printing market in India saw an increase in adoption, supported by the growing demand for short-run print jobs. Furthermore, 3D printing has gained traction, particularly in sectors like automotive, healthcare, and education. India has over 100 companies offering 3D printing services, as local manufacturing continues to embrace these technologies to reduce costs and enhance production capabilities.

Market Challenges

High Initial Investment Costs: The high initial costs associated with setting up advanced printing technologies remain a barrier for many small and medium-sized enterprises (SMEs) in India. For example, setting up a digital printing unit can cost upwards of INR 10 million, a investment for small-scale businesses. The depreciation rate of printing equipment and the ongoing maintenance costs further add to the financial burden. Despite government incentives, the upfront cost of adopting advanced printing technologies like 3D printers and inkjet printers remains a major challenge for new entrants.

Transition to Digital Media: India’s transition to digital media has negatively impacted traditional print industries, particularly newspaper and magazine printing. The circulation of physical newspapers dropped from 240 million copies in 2020 to approximately 200 million copies in 2023, reflecting the growing preference for digital news and online media platforms. Educational institutions, government offices, and businesses are increasingly adopting digital solutions for document management, further reducing demand for paper-based prints.

India Print Industry Market Future Outlook

The India print industry is expected to undergo transformations in the next five years. Increasing demand for personalized printing solutions, sustainability, and the integration of digital technologies are expected to drive the future of this market. The adoption of environmentally friendly inks, along with innovations in digital printing technology, will likely be key factors in the future growth of the print industry. Government initiatives promoting local manufacturing and sustainable practices will further bolster the market's expansion.

Future Market Opportunities

Growth in E-commerce and Digital Printing: India’s e-commerce sector, growing at a rapid pace, has created new opportunities for digital printing, particularly in customized packaging, shipping labels, and promotional materials. With over 650 million smartphone users and increased internet penetration, more businesses are turning to digital platforms for marketing and retail, which drives demand for short-run, cost-effective print solutions. The rise of online shopping, alongside the surge in small businesses, further enhances the growth potential for digital printing in packaging, branding, and advertising.

Increased Demand for Eco-friendly Printing Solutions: The Indian government’s increased focus on sustainability has led to a surge in demand for eco-friendly printing solutions. By 2024, the use of recycled paper and vegetable-based inks in the print industry has grown by over 30%, in line with national efforts to reduce carbon emissions and waste. The introduction of policies such as the Plastic Waste Management Rules has further driven companies to adopt sustainable printing solutions, particularly in the packaging industry. This presents a growth opportunity for print businesses offering environmentally friendly alternatives.
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