A new report from Smithers Pira has revealed that digital print for packaging market will surge to $23.2bn in 2022, from $13.2bn in 2017.
The report titled ‘The Future of Digital Print for Packaging to 2022’ explores how the demand for inkject and electrophotography print in packaging can evolve between 2017 and 2022.
Smithers Pira said the market growth will come from corrugated board, folding carton and flexible plastics. The company noted that digital label printing will also increase at a slow pace.
It will see an 11.2% annual increase in value across the forecast period and annual 15.4 growth in volume output (A4 sheets equivalent), up from 163 billion A4 sheets (equivalent) in 2017 to 334 billion in 2022, reflecting the arrival of new higher throughput equipment.
Digital print technology’s penetration is not uniform in nature across. Labels sector has been one of the early adopters and mature sectors in some regions. And, consequently future expansion is expected to rest heavily on less-developed packaging formats such as corrugated boards, folding cartons and flexible plastics.
This year, mainstream corrugated sector has a real appetite for high volume inkjet liners and postprint systems to provide new functions and improve efficiencies at plant.
Implementation is being led by some of the largest companies in the corrugated sector, along with more agile independents, which have led to the arrival of dedicated equipment that can enable volume production at an economic price.
Digital printing can enable packaging supply chains to develop and offer advantages in cost, time and flexibility for buyers and final consumers. In 2017, a majority of packaging and labels are produced by specialist converters, while delivering filler and packers.
By using digital printing in packaging, brands and retailers can make decisions later that are closer to the consumer. The result is making packaging and labels more relevant till the end consumer who ultimately determines the success or failure of brands and services.
Smithers Pira report author Sean Smyth said: “Growth is forecast in different applications and regions at varying rates. In packaging, it will be rising sharply as more players get involved, make investments and see how these benefit their customers. There will be new campaigns, which will be copied.
“Converters will also provide new services in response to their customers, which will allow significant supply chain efficiencies – some of which are not clear in early 2017, but will open up over the next few years to better suit the final packaging consumers. The goal for all parties is to satisfy buyers.”