The global packaging printing market size is projected to grow from USD 352.1 billion in 2020 to USD 433.4 billion by 2025, at a compound annual growth rate (CAGR) of 4.2% during the forecast period. The growth of this market is attributed to the cost-effectiveness of packaging printing technique and growing demand for food & beverage product packaging with high aesthetic appeal & correct branding.
Packaging printing is a means of reproducing graphics or texts on packaging substrates by utilizing various printing methods, such as flexography, rotogravure, screen printing, offset, and digital printing. Printing can be incorporated on different packaging media, such as corrugated boxes, cartons, bags, metal, cans, tags, and labels. Printing on packaging mediums provides a variety of benefits such as photo-realistic illustrations, aesthetic appeal, better communicability, and also plays a role in the marketing, promotional, and distributional activities of end-products.
Browse 165 market data Tables and 46 Figures spread through 206 Pages and in-depth TOC on “Packaging Printing Market by Printing Ink (Aqueous, UV-based), Printing Technology (Flexography, Gravure, Digital), Packaging Type (Labels & Tags, Flexible), Application (Food & Beverages, Cosmetics, Pharmaceuticals), & Region – Global Forecast to 2025”
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The packaging printing market has thousands of companies which thrive in their domestic market. A few of the major players are,Amcor (Australia), Graphics Packaging Holdings Company (US), Quad/Graphics, Inc. (US), Mondi Plc (South Africa) and Sonoco (US). These players have adopted various growth strategies, such as acquisitions, expansions & investments, new product developments, and agreements to increase their market shares and enhance their product portfolios.
COVID-19 impact on global packaging printing market
The global packaging printing market is expected to witness a moderate decrease in its growth rate in 2020-2021, as the packaging and market for chemicals, luxury goods, construction amongst other applications, will witness a significant decline in its demand owing to the lockdown activity across the globe. However, there will be an increase in the demand for packaging printing solutions for food & beverage and pharmaceutical applications, during COVID-19.
- People are resorting to panic-buying and bulk stocking due to the fear of lockdowns. More people are ordering daily staples and fresh food through online channels, which leads to an increase in the demand for packaging printing solutions which determines the authenticity of the product. Governments of many affected countries, for instance, India, have asked the food industry players to ramp up production to avoid supply-side shocks and shortages and maintain uninterrupted supply. FMCG companies are responding by demanding more of packaging printing solution to maintain their brand image. For example, Britannia Industries has urged the Indian government to ensure interstate movements of suppliers of raw materials and packaging solutions.
- The demand for packaging printing in the pharmaceutical industry, is expected to remain robust as hospitals, drugs, and PPE manufacturers are responding to the crisis. The demand for household essentials, healthcare, and medical goods is not expected to decrease dramatically, and retail distribution for these types of products through online delivery can be expected to increase. This in turn, boosts the demand for packaging printing solutions for the authenticity of the product to avoid anti-counterfeiting of the medicines and consumer goods.
The major players include Mondi plc (Austria), Sonoco Products Company (US), Graphics Packaging Holding Company (US), Quad/Graphics (US), Amcor Limited (Australia), Constantia Flexibles (Austria), Quantum Print and Packaging Limited (UK), WS Packaging Group (US), Toppan Printing Company (Japan), and Duncan Printing Group (UK). Companies have adopted strategies such as new product launches and acquisitions to cope with the increasing demand in the emerging markets.
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Recent Developments
- In June 2020, Mondi, a leading global packaging and paper group, is committed to playing its part in the supply of essential products during the COVID-19 outbreak and has recently developed packaging for QIAGEN’s SARS-CoV-2 coronavirus test kit.
- In August 2019, Mondi Plc. Launched web platforms, namely, myMondi.net, for outstanding print and designs to mark their uncoated fine paper (UFP) brands. It assists professionals from the printing and design industries to know about high-quality paper brands, as well as paper recommendations, local distributor’s details, and multimedia content that educate on printing packaging
- In June 2019, Graphics Packaging acquired Artistic Carton Mill and converted facilities that have divisions in Auburn, Indiana, and Elgin, Illinois, and is leading producer of folding cartons and coated recycled paperboard. This acquisition has increased its product portfolio and production capacity and expanded its geographical footprint to cater to the increasing demand.
- In June 2019, Amcor acquired Bemis Corporation to become the leading provider of packaging materials and solutions.
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