Global Digital Printing Packaging Market Analysis: Size, Drivers, Trends, Opportunities And Strategies
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The global digital printing packaging market is on an upward trajectory, poised to evolve from $22.28 billion in 2022 to $24.44 billion in 2023 at a robust Compound Annual Growth Rate (CAGR) of 9.7%. This trend is anticipated to persist, with the market size projected to reach $34.98 billion in 2027, maintaining a CAGR of 9.4%. Let’s delve into the key drivers, market dynamics, major players, and the technological trends propelling the digital printing packaging market into a new era.
Driving Force: Cosmetic and Personal Care Boom
- Explosive Demand: The digital printing packaging market is set to flourish due to the increasing demand for cosmetics and personal care products.
- Role of Digital Printing: Digital printing facilitates personalized and eye-catching designs on personal care products, helping manufacturers effectively market their brands.
- Market Statistics: In 2021, L’Oréal S.A. reported a global cosmetic market growth of 8.2%, emphasizing the industry’s resilience, with skincare product sales increasing by 13% in the US.
- Consumer Trends: The shift in consumer preferences towards skincare products was evident, with a 13% rise, while makeup items saw a 1% increase.
Market Giants: Key Players Shaping the Landscape
- Industry Influencers: Major players in the digital printing packaging market include Canon Inc., Hewlett-Packard Development Company L.P., Fujifilm Holdings Corporation, Amcor Limited, and many more.
- Market Dynamics: These industry giants significantly impact market dynamics, playing a pivotal role in shaping the trajectory of the digital printing packaging sector.
Emerging Trend: Technological Advancements Reshaping the Market
- Technological Innovations: A key trend gaining traction in the digital printing packaging market is technological advancements.
- Comexi Group’s Digiflex: In October 2022, Comexi Group introduced Digiflex, a digital printing technology machine designed for flexible packaging and label converters. With fast printing speeds, high performance, and reduced set-up time, Digiflex incorporates innovative features that enhance efficiency and reduce material waste.
Market Segmentation: Unveiling the Layers
- Packaging Type: The digital printing packaging market encompasses Corrugated Packaging, Folding Cartons, Flexible Packaging, Labels, and Other Packaging Types.
- Printing Inks: Solvent-based, UV-based, Aqueous, and Other Printing Inks form a crucial part of the market.
- Printing Technology: Thermal Transfer Printing, Inkjet Printing, Electrophotography And Electrostatic Printing, and Other Printing Technologies contribute to the diverse landscape.
- Format: Full Color Printing, Variable Data Printing, Large Format Printing, and Other Formats cater to various industry needs.
- End-User Industry: Food And Beverages, Pharmaceuticals, Electronics, Personal Care And Cosmetics, and Other End-user Industries drive market growth.
Regional Dynamics: Asia-Pacific Leading the Charge
- Dominance of Asia-Pacific: In 2022, Asia-Pacific emerged as the largest region in the digital printing packaging market.
- Fastest-Growing Region: Asia-Pacific is anticipated to be the fastest-growing region in the forecast period, emphasizing the region’s pivotal role in the market’s expansion.
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The Digital Printing Packaging Global Market Report 2023 provides an overview of the digital printing packaging market for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The digital printing packaging market forecast analyzes digital printing packaging market size, digital printing packaging market share, leading competitor and their market positions.
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