LONDON, Dec. 15, 2015 /PRNewswire/ -- The packaging printing market includes several types of printing technology such as flexography, rotogravure, offset, digital, and others. The packaging printing market has varied applications, such as cosmetics & toiletries, food & beverages, healthcare, and others. Packaging printing offers wide range of benefits such as enhanced aesthetic appeal, better communicability, and protection from counterfeit.
The market for packaging printing is observed to be matured due to high disposable incomes in developing economies, such as Europe and North America. The Asia-Pacific region formed the largest market for packaging printing, in terms of volume, having accounted for 2978.65 Billion A4 sheet printed in 2014. North America accounted for the second-largest market, with the share of 29% in 2014. The Asia-Pacific region is projected to be the fastest-growing market for packaging printing from 2015 to 2020. The global market for packaging printing is projected to grow at a CAGR of 6.26% from 2015 to 2020, to reach USD 597.19 billion by 2020.
The market for packaging printing is driven by the growth in the packaging industry along with the rising demand for aesthetic appeal and innovative printing. High disposable income has enabled the end users to spend more on such types of packaging, which facilitate ease of use. Most importantly, the changing consumer preference has triggered the usage of printed packaging in day-to-day life.
The global packaging printing market is marked with intense competition due to the presence of a large number of both, big and small firms. Mergers and acquisitions, investments, and expansions are the key strategies adopted by market players to ensure their growth in the market. Companies such as Quad/Graphics (U.S.), Hewlett-Packard Development Company, L.P. (U.S.), Xerox Corporation (U.S.), E.I. du Pont de Nemours and Company (U.S.), and WS Packaging Group (U.S.) are some of the prominent companies in packaging printing market.
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