April 21, 2024
Packaging Printing Market

Printing On Packaging Meets Evolving Consumer Needs Is Driven By Sustainable Trends

The packaging printing industry involves applying graphical designs, images, text, or other information to packaging products like boxes, cartons, bags, labels, bottles, and wrappers. Packaging printing serves an important purpose of attracting customers, providing product information and branding for companies. With the rise of ecommerce and changing consumer preferences, packaging designs are becoming more vibrant, informative and sustainable to enhance the consumer experience. Flexible packaging solutions like paper bags, laminated films, shrink sleeves allow products to be shipped securely and displayed attractively on shelves and online. Product packaging acts as the silent salesman and first impressions play a vital role in purchase decisions. With customers favoring eco-friendly sustainable choices, packaging printers are focusing on recyclable substrates and renewable inks to meet this demand.

The global Packaging Printing Market is estimated to be valued at US$ 375.05 Mn in 2023 and is expected to exhibit a CAGR of 8.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

One key trend gaining momentum in the packaging printing industry is sustainable packaging solutions. Companies are incorporating recycled content and using renewable bio-based inks to minimize the environmental impact. Flexible pouches and paper bags made of recyclable materials are steadily replacing plastic and multi-layer laminates. Digital printing technologies allow on demand short runs and versioning which reduces inventory and waste. Blockchain integration is enabling traceability of raw materials and helping brands achieve sustainability commitments. As eco-consciousness rises amongst consumers, packaging printers are well-positioned to tap into this trend through sustainable offerings.

Porter’s Analysis

Threat of new entrants: The Packaging Printing market has moderate threat of new entrants due to high initial capital requirement along with strong brand loyalty of existing customers towards established players.
Bargaining power of buyers: Buyers have moderate bargaining power attributed to presence of large number of suppliers. However, differentiated products and services increase switching costs for buyers.
Bargaining power of suppliers: Suppliers have moderate bargaining power due to availability of substitutes and less differentiation in products.
Threat of new substitutes: Threat from substitutes is low as packaging printing has no close substitute and fulfils unique demand of customers.
Competitive rivalry: The Packaging Printing market witnesses high competitive rivalry due to established market players competing on basis of pricing, product innovation and brand image.

Key Takeaways

The Global Packaging Printing Market Demand is expected to witness high growth.

Regional analysis related content comprises
The Asia Pacific region dominates the Packaging Printing market and is expected to maintain its leading position during the forecast period. High growth in countries like China and India contributed to its dominant share in the global market. North America and Europe hold the second and third position in the global Packaging Printing market.

Key players
Key players operating in the Packaging Printing market are Mondi PLC, Ahlstrom-Munksjö Oyj, Autajon CS, Huhtamaki Flexible Packaging (Huhtamaki Oyj) and Avery Dennison Corporation. Mondi PLC has strong presence across Europe and holds significant market share. Ahlstrom-Munksjö Oyj has majority of businesses located in Europe and Americas. Autajon CS focuses on flexible and folding carton packaging across Asia Pacific region.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it