Packaging printing market worth $587.19 billion by 2020
The report "Packaging Printing Market by Ink Type (Water Based & UV Curable), Printing Technology (Flexography, Rotogravure, Offset, Digital), Material (Paper & Paperboard, Flexible & Rigid Plastic, Glass & Metal), Application (Food & Beverages, Cosmetics & Toiletries, and Healthcare) - Trends & Forecast to 2020" published by MarketsandMarkets, . The global market for Packaging Printing is projected to grow at a CAGR of 6.26% from 2015 to 2020, to reach $587.19 Billion by 2020.
The market report defines and segments the global Packaging Printing Market with analysis and forecasting of the global revenues for packaging printing. It also identifies the driving and restraining factors of the market with analysis of trends, opportunities, and challenges.
The market is segmented and revenues are forecasted on the basis of major regions, such as North America, Europe, Asia-Pacific, and the Rest of the World (RoW). The key countries are covered and their market sizes have been forecasted for each region. Further, the market is segmented and revenues are forecasted on the basis of application.
The packaging printing industry has a positive outlook due to high growth in the packaging industries. Rising per capita income and rising demand for innovative printing are accelerating the demand for packaging printing. Consumer preferences in emerging economies such as China, India, Brazil, and South Africa are gradually shifting from traditional packaging to new innovative packaging printing.
The market for packaging printing is observed to be matured in developing economies such as Europe and North America. The reason behind this is the high disposable income. The Asia-Pacific region formed the largest market for packaging printing, in terms of volume, having accounted for 2978.65 Billion A4 sheets in 2014. North America accounted for the second-largest market, with a share of 29 in 2014. The global market for packaging printing is projected to grow at a CAGR of 6.26% from 2015 to 2020, to reach $587.19 Billion by 2020.
The development of economies plays an essential role in increasing the demand for packaging printing in the global market. The key parameters that determine the growth of packaging printing in developing economies are increase in consumption and demand for convenient packaging. The growing GDP (PPP) in emerging markets such as China, India, and Brazil is estimated to drive the demand for packaging printing.