A new report has revealed that the digital packaging and labels market will be worth $7.3bn in 2013 and continue to show impressive growth for the next five years.
‘The Future of Digital Printing for Packaging to 2018’ report from Smithers Pira notes that labels alone will have a value of $6bn in 2013, a total of 89.6%.
With the demand growing for digital and labels, most of the equipment suppliers are developing digital equipment for the mainstream packaging market.
The electrophotography and inkjet are expected to post a growth rate of 27% by 2018, which is part of the digital printing.
At present, the unit price of digital output is higher than the analogue alternative, while it is expected to come down in the coming years, according to the new report.
The study revealed that average household sizes are falling in more developed regions, which are reducing average print runs and playing a role in strengthening digital packaging.
The use of late stage customization to print the final details of a pack or label are being used in the pharmaceutical industry, as a result of stringent labelling requirements.
Technology development is also playing a crucial role in the growth of the digital print for packaging market.
Smithers Pira further noted that the Western European market digital printing market is expected to reach $920m in 2013, while Germany is the largest market for all print in Europe.
The US is the single largest country for print and packaging, and most developed market for digital print, which is expected to reach $3.38bn by 2018.
Image: Graph showing packaging and label market.