Printing: Key market research findings
- Technological advancements in labeling
- Dominance of analog technology
Technavio has released a new market research report on the global printing market for packaging, which is expected to grow at a CAGR of 6% between 2016 and 2020. With increasing importance of labeling and printing text on the packaging both in terms of promotional aspects and regulatory aspects, there have been several transformations in the packaging industry. The increase in demand for innovative packaging has driven the growth of the printing market. APAC is expected to be the fastest-growing region in the market, where China and Japan are the major revenues contributors. Much of the region’s growth comes from the expansion of businesses by most packaging companies. Also, the demand for packaged goods is very high in this region.
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for the growth of this market and its sub-segments.
“Increased adoption of the database-driven marketing practice is helping vendors provide customized solutions to their customers. The labeling vendors are striving to innovate advanced labeling techniques to entice customers. They are developing several new technologies, such as toner-based labeling, to reduce the price-per-page and produce high-quality graphics and texts. One of the technologies is the LED printer which uses an LED array as a source of light in the print head,” says Sharan Raj, Lead Analyst, Transportation & Logistics, Technavio Research
Analog printing holds the largest share of the global printing market for packaging. It is a traditional way of printing for packaging and labeling and includes several processes, including letterpress, xylography, flexography, lithography, and offset labeling. Most of the packaging and labeling companies use this method of printing because it can print multiple copies at a time and is quick and responsive.
The key vendors in the global printing market for packaging are AB Graphic International, HP, Landa, Xeikon NV, RR Donnelley, and Xerox. The market is fragmented with the presence of many vendors. As the market is expanding, vendors are coming up with technologically advanced products to improve the customer experience. Vendors are finding huge scope for innovation because of increased demand for quality packaging and labeling.
A more detailed analysis is available in the Technavio report, Global Printing Market for Packaging 2016-2020.
We can customize reports by other regions and specific segments upon request.
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