The Future of Package Printing to 2027
Smithers forecasts steady expansion at 3.1% year-on-year in $473.4 billion packaging print market through to 2027.
Posted On
9th Sep 2022
Categories
2022 Q3, Company, General
Labels and printed packaging continue to increase in demand, and represent a strategic priority for press OEMs, ink suppliers and print service providers across the next five years.
A new dedicated study – The Future of Package Printing to 2027 – on how this sector is emerging from Covid-19 and will evolve in the medium term is now available to purchase from Smithers – the leading consultancy for the paper, print and packaging industries. Smithers’ data forecasting charts how a global market worth in $456.3 billion in 2021, will increase to $473.7 billion; and then grow at a compound annual growth rate (CAGR) of 3.1% to reach $551.3 billion in 2027 (constant 2021 prices).
Across the same period the volume of corrugated board, folding cartons, rigid and flexible plastics, metal, and labels stocks printed worldwide will increase from 13.0 trillion to 15.4 trillion A4 print equivalents.
Flexo will remain the most widely used print process – due to its popularity in long-run corrugated board, labels and flexible plastics work. It represents around 36% of the contemporary market and natural expansion gives flexo a positive growth outlook (+2.4% CAGR, by value) through to 2027. Other analogue processes, including offset litho (+2.5% CAGR), will see similar organic growth across the five-year Smithers study period, mainly from developing markets.
The greatest expansion however will come from digital print for packaging – with a CAGR of over 10% forecast through to 2027. Print service providers are poised to reap the benefits of very significant R&D investment by digital OEMs, delivering improvements in productivity, reliability and expanding the number of print commissions where digital is price-competitive with established analogue production.
Packaging print is becoming increasingly competitive and will be the focus for further technical innovation through the 2020s.