Transparency Market Research presents a new market study on the global packaging printing market for the 2016-2023 period. The report titled, “Packaging Printing Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2023,” looks into the market dynamics and growth trends to present a satisfactory picture of the growth of the said market for the aforementioned forecast period.
Packaging printing involves designing, evaluating, and producing packages for distribution, sale, and storage of products. Packaging printing have a number of advantages and disadvantages and the choice of printing is dependent on the budget and packaging needs. Each of the packaging printing has its own strengths and weakness that play a key role in the choice of manufacturer for packaging printing needs. Packaging printing is used for a number of packaging processes such as paper and paperboard, glass, metal, flexible packaging, rigid plastic, and others.
The packaging printing industry is expected to rise parallel to the packaging industry. At present, the packaging industry is driven by increasing nuclear family setups, introduction of innovative packaging material, increasing ageing population, and changing convenience quotient of consumers. In addition, factors such as increasing per capita income and rising demand for newer packaging printing are anticipated to fuel the growth of the packaging printing market over the forecast period. Economic development across the world is playing a vital role in the growth of the global packaging printing market.
The packaging printing market can be studied in terms of technology, type of ink, application, and type of packaging.
The packaging printing market can be segmented into food and beverages, healthcare, cosmetics and toiletries, and other industries in terms of end use industries. The food and beverages segment holds the leading share in this market based on application. Flexographic, offset, rotogravure, and digital are the segments that divide the market based on printing technology. Amongst these, digital printing is currently displaying the fastest growth in the packaging printing market.
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On the basis of geography, the packaging printing market can be divided into: North America, Asia Pacific, the Middle East and Africa, Latin America, and Europe. The markets of North America and Europe are mature as they have the highest disposable incomes amongst all regions. At present, Asia Pacific is the dominant market for packaging printing holding the leading share amongst all other regional markets. The region is expected to display the highest CAGR over the forecast period.
The report identifies leading players in the global printing packaging market, namely Paramount Packaging Ltd. and E.l.du Pont de Nemours and Company.