Global industry analyst Smithers says the market for printed packaging and labels will grow by almost 40 per cent over the next five years.
According to the latest Smithers report, between 2024 and 2029, the market will witness a growth rate of 6.3 per cent CAGR in value terms, and will rise from US$512bn this year to US$695bn in five years.
The Future of Package Printing to 2029 says digital print is by far the fastest growing print technology for labels and packaging. It says package printing processes are becoming increasingly automated for greater efficiency with advanced workflows, robotics and artificial intelligence deployed on modern presses.
This report provides "authoritative" market sizing data and forecasting of the market for printed packaging and labels. It identifies major trends and drivers affecting the package printing sector, such as increasing urbanisation rates, growth in e-commerce and advances in print technologies.
The report says that as markets expand, the positive outlook for printed packaging will attract investment in new package print equipment, and in R&D and services from packaging designers, equipment suppliers, software, ink and materials companies and others.
The Future of Package Printing to 2029 is written by Jon Harper Smith, who has 15 years’ experience in print through his time working with Fujifilm, and has extensive experience in industrial and package printing businesses, with a particular focus on industrial inkjet and flexo processes.
The report will be published on 27 October, and will set you back a handy US$6075.
