The global packaging printing market is witnessing demand owing to the rise in manufacturing activities. The market is driven by factors such as strong growth in the demand from the food and pharmaceuticals sectors. The growing pharmaceutical industry and the popularity of using convenient packaging are the major drivers of the packaging printing market.
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Food & beverages segment is estimated to be the fastest-growing segment during forecasted period (2016-2026)
The food & beverages segment is estimated to be the fastest-growing segment during forecast period (2016–2026). The demand for packaging printing is experiencing high demand from the food & beverage industry, mainly because of the growing demand for packaged and branded products. Increase in demand for product differentiation and labeling for their authentication drives the market growth for printing in the food & beverage packaging segment.
Label market segment is estimated to have the largest share in 2015
The packaging printing market, on the basis of packaging type, is classified into labels, flexible packaging, corrugated, folding cartons, and others, which includes rigid plastic packaging and metal packaging. The labels segment accounted for the largest share in 2015 due to its numerous application such as displaying sequential barcodes and numbering, variable text, titles, or graphics, and add substantial value to the product.
Asia-Pacific projected to account for the largest share in the packaging printing market in 2021
Asia-Pacific, with emerging economies such as China and India, is expected to drive the packaging printing market. China is projected to account for the largest market share and dominate the Asia-Pacific packaging printing market in 2021. The growing healthcare and food & beverage industries are likely to drive the demand for packaging printing in China. In addition to this, the country’s large consumer base, overall positive economic environment, and increase in manufacturing activities will drive demand in the packaging industry.
The major players include HP Inc. (U.S.), E.I. du Pont de Nemours and Company (U.S.), Toppan Printing co, Ltd. (Japan), Xerox Corporation (U.S.), Mondi Plc (South Africa), Quad/Graphics, Inc. (U.S.), and WS Packaging Group (U.S.). Companies have adopted strategies such as new product launches and acquisitions to cope with the increasing demand in the emerging markets.
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