Packaging Printing Market Worth $433.4 Billion by 2025: MarketsandMarkets

According to a new MarketsandMarkets research report, “Packaging Printing Market by Printing Ink (Aqueous, UV-based), Printing Technology (Flexography, Gravure, Digi-tal), Packaging Type (Labels & Tags, Flexible), Application (Food & Beverages, Cosmet-ics, Pharmaceuticals), & Region – Global Forecast to 2025,” the global packaging printing market size is projected to grow from $352.1 billion in 2020 to $433.4 billion by 2025, at a CAGR of 4.2% from 2020 to 2025.

The market is projected to grow in accordance with the increase in the demand for packag-ing printing for attractive packaging of food and beverage products across the globe.

COVID-19 Impact on Packaging Printing

The global packaging printing market is expected to witness a moderate decrease in its growth rate in 2020-2021, as the packaging and market for chemicals, luxury goods, con-struction amongst other applications, will witness a significant decline in its demand ow-ing to the lockdown activity across the globe. However, there will be an increase in the demand for packaging printing solutions for food & beverage and pharmaceutical applica-tions during COVID-19.

The packaging industry is influenced by an increase in population, urbanization, develop-ment of an economy, demand for packed food, and consumer awareness for counterfeit-ing products. The packaging industry comprises rigid and flexible packaging. The use of packaging material may vary for the purpose for which it is used. For example, different materials could be used for transport, distribution, or consumer packaging. The packaging is carried out by layers and is categorized into primary, secondary, and tertiary.

High initial capital investment is required for establishing manufacturing and printing fa-cilities. Investment is required for setting up plants and for buying printing equipment. For instance, a rotogravure press costs around $1 million as compared to a much cheaper lithographic press. A single rotogravure cylinder cost around $5,000, as compared to an affordable lithographic plate.