In the modern consumer-centric world, the packaging of products plays a huge part in facilitating business success. For instance, the growing trend of unboxing videos of electronic products has pressed many electronics manufacturers to design a complete experience around packaging and unboxing, thereby intriguing customers even before they get their hands on the product. Brand owners are actively innovating their packaging and are also offering personalisation in packaging. Intense research and development budgets are directed into finalising the colours, typography, design, and surface material of packaging. Moreover, the growing environmental concerns and changing customer mindset regarding wasteful packaging is pushing market players to offer eco-friendly packaging. These factors, coupled with growing demand for flexible packaging and solvent-based inks are setting a positive precedent for the global digital printing packaging market expansion.
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Growing Application Pool of Solvent-Based Inks to Unlock Novel Opportunities
As the technologies supporting the printing and packaging domains continue to improve, the demand for solvent-based printing ink is also growing proportionately. Modern solvent inks are a type of ink that contain both dyes and pigments contrary to traditional counterparts which usually only have dyes. It is a volatile organic chemical as opposed to water-based inks which employ water as a carrier. Solvent inks are significantly more affordable than their water-based and UV-curable counterparts. Moreover, it can be used to print a wide variety of surfaces such as paper, plastic, cardboard, and metal foils. These developments are leading the global digital printing packaging market to fructuous outcomes.
Growing Employment of Flexible Packaging to Steepen Growth Curve
The recent upsurge in environmental hazards has pressed industry stakeholders and governing authorities to promote more eco-friendly printing alternatives. To this end, the demand for flexible packaging is expected to grow by leaps and bounds. This latest digital printing technology is being adopted owing to its numerous ecological and energy consumption benefits. Moreover, consumers in end-use industries such as food and healthcare are becoming more environmentally conscious about packaging and its disposal. Besides, flexible packaging offers airtight sealing which makes it perfect amidst the growing e-commerce domain. The cumulative force of these factors is creating tremendous growth outcomes in the global digital printing packaging market.
Asia Pacific to Lead Digital Printing Packaging Market Amidst Thriving Food and Beverages Industry
Asia Pacific is projected to lead the digital printing packaging market owing to explosive demand from the food and beverages industry. Major regional economies such as India, Japan, and China are major food and beverage industries globally. The presence of stringent environmental norms and customer-centric regulations are pushing manufacturers to offer robust food packaging with detailed product information. Besides food and beverages, the region also has well-performing healthcare, manufacturing, cosmetics, and media and advertising industries. The increasing demand for cosmetics throughout Asia Pacific specifically is expected to offer tremendous promise in the future.
Major Market Players
The most influential participants in the global digital printing packaging market include Smurfit Kappa (Ireland), DS Smith (UK), Quad/Graphics Inc. (US), CCL Industries Inc. (Canada), and Printpack (US). They are actively investing in cutting-edge printing technologies such as dies cutting and digital printing.
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