May 26, 2024

Packaging Printing Market Is Driven By Growing E-Commerce Industry

The packaging printing market involves various printing techniques such as flexography, offset lithography, gravure, and digital printing used for package labeling and decoration purposes. Printing on packages provides product information to consumers, improves branding, and attracts customers on retail shelves. The rise of the e-commerce industry has boosted the demand for well-designed and informative product packaging that can attract online buyers. Moreover, packaging manufacturers are focusing on eco-friendly printing methods and customizable solutions to meet the exact branding and compliance requirements of their clients. The global packaging printing market is estimated to be valued at US$ 432.06 Bn in 2024 and is expected to exhibit a CAGR of 9.6% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
The key trends in the packaging printing market include increasing adoption of digital printing technologies, growth in sustainable packaging, and customized labeling solutions. Digital printing allows on-demand short-run printing, versioning, and personalization. It is gaining popularity compared to traditional printing methods. Furthermore, manufacturers are focusing on producing packaging using recyclable and biodegradable materials to boost their green credentials and appeal to eco-conscious consumers. Packaging printers are also providing one-to-one printing, variable data, and versioning capabilities to help brands connect with target audience. Customizable solutions aid in conveying the right messaging and ensuring compliance with regional and international regulations.

Porter’s Analysis
Threat of new entrants: The threat of new entrants in the packaging printing market is moderate. High capital costs and economies of scale create barriers for new players.

Bargaining power of buyers: Buyers have moderate bargaining power due to the presence of many vendors offering packaging printing services. Large customers can negotiate lower prices.

Bargaining power of suppliers: Suppliers have low to moderate bargaining power as there exist many suppliers for raw materials such as paper, ink, and printing plates.

Threat of new substitutes: The threat of substitutes is low as there are limited alternatives to packaging printing. Digital printing is emerging but cannot completely replace traditional printing.

Competitive rivalry: The packaging printing market is highly competitive with the presence of many global and regional players. Competition is based on pricing, quality, and innovation.

Key Takeaways
The Global Packaging Printing Market Growth is expected to witness high over the forecast period of 2024 to 2031. The market size for 2024 is estimated to be US$ 432.06 Bn.

Europe dominated the packaging printing market owing to large packaging companies and advanced printing technologies adoption in the region. Asia Pacific is expected to grow at the fastest pace during the forecast period supported by growing e-commerce, food & beverage sectors in countries such as China and India.

Key players operating in the packaging printing market are Sanofi S.A, Pfizer, Inc., Merck & Co., Inc., GlaxoSmithKline plc., Bharat Biotech, Serum institute of India Pvt. Ltd., Biological E. Limited, Bio-Med, Bavarian Nordic, CSL Limited, Novartis AG, Vaxcyte, GSBPL, Taj Pharmaceuticals Limited, and Bavarian Nordic. They focuses on new product launches to strengthen their market position.

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