Global Digital Printing for Packaging Market: Overview
Digital printing is a rapidly emerging technology and it offers multiple benefits, which is likely to drive the demand for this technology in the packaging sector. Digital printing comes with greater degree of personalization, rapid marketing time, and increased flexibility of production, which makes the technology a highly lucrative one. The capability of incorporating digital presses has emerged as an operational development. In n bid to enable timely delivery of goods, several packaging companies are depending on the solutions of digital printing to diminish the time of packaging. These factors are estimated to support development of the global digital printing for packaging market over the timeframe of analysis, from 2020 to 2030.
Various techniques, such as smart and virtual labeling are gaining momentum in the digital printing technology that is utilized in the packaging sector. With the increased prevalence of Covid-19 across the globe, social distancing has become the norm in several countries worldwide. Social distancing and lockdowns in several countries has generated huge demand for e-commerce services. People have been buying goods and services utilizing various e-commerce sites, which is likely to bolster demand for digital printing in the packaging sector.
The global digital printing for packaging market has been segmented on the basis of three important parameters, which are product type, end use, and region.
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Global Digital Printing for Packaging Market: Notable Developments
One of the latest developments in the global digital printing for packaging market that is likely to leave an impact on the market is mentioned as below:
- In October 2020, US-based information technology company, the Hewlett-Packard Company (HP Inc.), made an announcement of the launch of a series of various new printing solutions for use in the healthcare sector. These printing solutions come with a brand new touch-enabled control panels and Healthcare Edition MFP Keyboard series, which is capable of conducting regular disinfection. It is also capable of diminishing the chance of transmission of hospital-acquired infections (HAIs).
Some of the leading companies in the global digital printing for packaging market include the following:
- WS Packaging Group Inc.
- Eastman Kodak Company
- Tailored Label Products Inc
- HP Inc.
- Xerox Corporation
- DuPont de Nemours, Inc.
Global Digital Printing for Packaging Market: Key Trends
The global digital printing for packaging market is characterized by the prevalence of the following challenges, market drivers, and promising opportunities.
Cost Effectiveness of Digital Printing to Bolster Demand in the Market
The existing printing technologies bear high cost during installation and thus, the high per unit cost is incurred for printing in less quantity. In addition to that, high frequencies of orders for shorter lengths of run need scheduling of several tasks and continuous changing of plates. Customized communications have emerged as part of packaging strategy has resulted in a downward trend in the sizes of run. High cost of existing printing technologies is likely to pave way for rapid growth of the global digital printing for packaging market over the timeframe of assessment, from 2020 to 2030.
In comparison with traditional printing solutions, the cost incurred by use of digital printing for packaging purposes is lower when printing jobs are done in lower volumes. As such, more companies are opting for digital printing solutions when it comes to printing in smaller quantities. These factors are likely to foster growth of the global digital printing for packaging market over the period of assessment, from 2020 to 2030.
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Global Digital Printing for Packaging Market: Geographical Analysis
Asia Pacific is estimated to offer highly lucrative opportunities in the global digital printing for packaging market, due to the rising demand for digital printing in countries like India and China. High growth of the packaging industry in the Asia Pacific region is likely to play an important role in the growth of the digital printing for packaging market in Asia Pacific in the year
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
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