LONDON, Nov. 24, 2016 /PRNewswire/ -- "Growing demand from the food & beverage industry to drive the market for digital printing packaging"
The global market for digital printing packaging is projected to grow from USD 10.15 billion in 2015 to reach USD 42.11 billion by 2026, at an estimated CAGR of 13.9%. The digital printing packaging 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 digital printing packaging market. Emerging markets, such as the Asia-Pacific region, have contributed to an increase in the application of digital printing in packaging products. Digital printing packaging not being suitable for heavy items is the strongest restraint for the industry.
"Labels segment accounted for the largest market share in 2015"
The labels segment accounted for the largest market share in 2015 in the digital printing packaging market.
Labels are high-quality, colored, custom digital stickers that are used for branding products. Digitally printed labels can be produced on various label materials such as paper and film. Labels can be used for displaying sequential barcodes and numbering, variable text, titles, or graphics and add substantial value to the product. Some other benefits of digital labels include availability of vibrant colors, reduced packaging costs, and reduced turnaround time.
"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 digital printing packaging, followed by Japan. China, with its growing food & beverage and healthcare industries, is expected to drive the digital printing packaging market. Japan, with its growing inclination toward convenient products, is expected to impact the digital printing packaging 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 digital printing packaging. 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%, Asia-Pacific – 25%, Europe – 20%, Rest of the World – 15%
The various suppliers of digital printing packaging 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 digital printing packaging 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 digital printing packaging market.
This report will help the market leaders/new entrants in this market in the following ways:
1. This report segments the digital printing packaging 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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