12-Nov-2024 | Zion Market Research
Major companies in virtual reality market are Mondi plc, Sonoco Products Company, Graphics Packaging Holding Company and Quad/Graphics, amongst others. These players are set to bolster the development of global packaging printing market.
According to analysts at Zion Market Research, Global Packaging Printing Market was valued at USD 327.19 Billion in 2023 and is projected to hit USD 509.86 Billion by 2032, with a compound annual growth rate (CAGR) of 4.5% during the forecast period 2024-2032
This review is based on a report by Zion Market Research, titled “Global Packaging Printing Market by Printing Ink (Aqueous, UV-based), Printing Technology (Flexography, Rotogravure, Offset and Digital), Packaging Type (Paper, Rigid, Glass, Flexible and Others), Application (Food & Beverages, Cosmetics, Pharmaceuticals and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2024-2032.”
Increasing population and urbanization to Spur Growth
“Increasing population, urbanization, development of economies, rising demand for packed and ready to eat food, and consumer awareness for forging, hygienic and safely packed food is set to give a surge to the market,” says the author of this study. Apart from this, increasing e-commerce sector is expected to contribute significantly to the growth of packaging printing market. Delivering high- quality printing solutions at reasonable prices restraints the packaging printing growth.
The industry is highly competitive and fragmented. Companies are returning by demanding more of packaging printing solution to maintain their brand image. For instance, Britannia Industries has insisted the Indian government to ensure interstate movements of suppliers of raw materials and packaging solutions.
Presence of Big Players in The Region Support North American Dominance
Regionally, North America has been leading the worldwide packaging printing market due to the presence of major players like Sonoco Products Company, Graphics Packaging Holding Company, Quad/Graphics, among others but the market is saturated and is anticipated to continue to grow on a moderate pace. However, Asia-Pacific is projected to be the fastest growing region in this market due to the increasing adoption of online shopping in the region. Also, in this region, the industry will witness huge advance in the coming years due to an increase in the middle-class population and their consumption of ready food and increase in per capita income. Countries such as India, China, and South Korea are emerging markets for packaging and are expected to witness the same in the coming years.
Browse the full “Global Packaging Printing Market by Printing Ink (Aqueous, UV-based), Printing Technology (Flexography, Rotogravure, Offset and Digital), Packaging Type (Paper, Rigid, Glass, Flexible and Others), Application (Food & Beverages, Cosmetics, Pharmaceuticals and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2024-2032.” Report at https://www.zionmarketresearch.com/report/packaging-printing-market
The global packaging printing market is segmented as follows:
By Printing Ink
By Printing Ink
By Packaging Type
By Application
By Region
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