Digital Printing Packaging Market Estimated to Reach $45.1 billion by 2027, at a CAGR of 8.9%| MarketsandMarkets™
The global digital printing packaging market size is projected to grow from USD 29.4 billion in 2022 to USD 45.1 billion by 2027, at a CAGR of 8.9% from 2022 to 2027. Digital printing is an ideal method of producing short- to medium-run printing jobs in more effective ways than traditional print. It is cost-effective and has a quicker turnaround time. Another advantage is that it does not require the printing plate to be changed, and it produces images of higher quality.
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Flexible packaging is the second largest packaging type in digital printing packaging market. Flexible packaging is made from a wide range of flexible materials such as plastic, acetate film, foil, brown paper, and others, which have the ability to change shape under pressure. The demand for flexible packaging is likely to grow as a result of its high barrier-resistance properties and the ability to enhance package design. Digital printing has been gaining traction in the flexible packaging market for reasons such as availability of shorter print runs, high print quality, and versatility of printing on various substrates.
The pharmaceuticals and healthcare segment is the fastest growing segment the digital printing packaging market, with a CAGR of 10.68% in terms of value, in 2021. The packaging quality of pharmaceutical products plays a vital role in ensuring their protection. Healthcare products, which include pharmaceutical and medical products, are required to be protected from external conditions, such as light, moisture, contamination, and physical damage, as these factors can alter the quality of the products. The packaging quality of healthcare products plays a vital role in ensuring their protection. The pharmaceutical industry needs devices that come in a variety of distinctive shapes and sizes, depending on their purpose.
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Extensive R&D has resulted in the advent of new technologies in digital printing. An increase in the level of consumer awareness regarding biodegradable and sustainable packaging plays a vital role in creating opportunities for manufacturers to develop biodegradable solutions in digital printing. Technological advancements in the printing industry have resulted in new and advanced printing technologies such as three-dimensional printing and hybrid printing. Three-dimensional printing enables realistic and effective printing on the packaging.
The digital printing packaging market comprises major solution providers, Huhtamaki (Finland), Constantia Flexibles (Austria), Quad/Graphics, Inc. (US), THIMM The Highpack Group (Germany), Printpack (US), DS Smith (UK), Smurfit Kappa (Ireland), Krones AG (Germany), CCL Industries Inc. (Canada) and ePac Holdings, LLC. (US) among others.
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