LONDON, Jan. 17, 2017 /PRNewswire/ -- "Growing demand from the food & beverage industry to drive the market for packaging printing"
The global market for packaging printing is projected to grow from USD 115.13 billion in 2015 to reach USD 192.75 billion by 2026, at an estimated CAGR of 4.9%. The packaging printing market is driven by factors such as growing demand for sustainable printing, increasing demand for flexible packaging, cost effectiveness, and reduced packaging waste. The growing healthcare industry and the popularity of using convenient packaging are major drivers of the packaging printing market. Emerging markets, such as the Asia-Pacific region, have contributed to an increase in the application of packaging printing in packaging products. Packaging printing not being suitable for heavy items is the strongest restraint for the industry.
"Digital printing of the printing technology segment projected to grow at a highest CAGR during forecasted period (2016-2021)"
The digital printing technology of the printing technology segment is projected to grow at the highest between 2016 and 2021. The excellent print-ability and aesthetic appeal will drive the market of the digital printing technology in the packaging printing market. The dDigital printing is highly preferred in thefor packaging printing; in personal care & cosmetics products, because of its aesthetic appeal facility to attract consumers at point point-of of-sale (POS).
"Asia-Pacific region to gain maximum traction during the forecast period"
The Asia-Pacific region is projected to be the fastest-growing market during the forecast period, followed by Europe. In Asia-Pacific, China is the largest consumer for packaging printing, followed by Japan. China, with its growing food & beverage and healthcare industries, is expected to drive the packaging printing market. Japan, with its growing inclination toward convenient products, is expected to impact the packaging printing market in the Asia-Pacific region.
Breakdown of primaries
Primary interviews were conducted with a number of industry experts in order to collect data related to different aspects of packaging printing. The distribution of primary interviews is as follows:
- By Company Type: Tier 1 – 43%, Tier 2 – 33%, Tier 3 – 24%
- By Designation: C level – 40%, Manager level – 35%, Others – 25%
- By Region: North America – 40%, Europe – 20%, Asia-Pacific – 25%, Rest of the World – 15%
The various suppliers of packaging printing and related products in the report are as follows:
1. HP Inc. (U.S.)
2. E.I. du Pont de Nemours and Company (U.S.)
3. Xerox Corporation (U.S.)
4. Mondi PLC (South Africa)
5. Quad/Graphics, Inc. (U.S.)
6. Eastman Kodak Co. (U.S.)
7. Xeikon N.V. (Netherlands)
8. Quantum Print and Packaging Ltd. (U.K.)
9. WS Packaging Group, Inc. (U.S.)
10. Traco Manufacturing, Inc. (U.S.)
The report defines, segments, and projects the packaging printing market size on the basis of printing inks, printing technology, format, packaging type, end-use industry, and region. The study analyzes competitive developments such as partnerships, agreements, contracts, and joint ventures; , mergers & acquisitions; expansions; , new product developments; , and research & development activities in the packaging printing market.
This report will help the market leaders/new entrants in this market in the following ways:
1. This report segments the packaging printing market comprehensively and provides the closest approximation of the revenue numbers for the overall market and the subsegments across the different verticals and regions.
2. This report will help stakeholders to understand the market and provide them information on key market drivers, restraints, challenges, and opportunities.
3. This report will help stakeholders to better understand their competitors and gain more insights into their position in the business.
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