Digital printing offers benefits such as on-demand, short-run, and variable printing over traditional printing methods. Digital printing solutions are increasingly being used for package printing, due to advantages such as faster turnaround time, flexible design options, versioning, and customization.
The global Digital Printing Market is estimated to be valued at US$37.18 billion in 2024 and is expected to exhibit a CAGR of 31% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Expansion into label and package printing is one of the key trends driving the growth of the digital printing market size. Digital printing offers cost-effective short-run and mass customization capabilities making it an ideal solution for printing labels and packages on demand. The preference for digitally printed labels and packages is increasing across industries such as food and beverage, cosmetics, pharmaceuticals owing to need for visual appeal, brand messaging, and compliance. Digital printing allows integrating varied designs, images, variable data such as expiry dates, and codes for traceability. This provides manufacturers an ability to customize packaging according to geographic regions, seasonal promotions as well as personalized campaigns.
Segment Analysis
Digital printing market is dominated by digital packaging printing segment. Packaging printing is the largest end-use segment in digital printing market and accounted for over 35% share in 2019. Packaging printing segment is witnessing high growth owing to increasing demand for customized and short-run packaging from various end-use industries like food and beverages, consumer goods, pharmaceuticals. Digital printing allows quick turnaround for prototype design and testing in short packaging runs which is driving its adoption in packaging printing over traditional printing methods.
Key Takeaways
The global digital printing market is expected to witness high growth over the forecast period from 2024 to 2031.
Regional analysis shows that Asia Pacific currently holds the highest share in global digital printing market and is expected to remain the fastest growing regional market during the forecast period. The growth in Asia Pacific digital printing market can be attributed to rapid industrialization, rising disposable income, increasing population, and expanding flexible packaging industry in countries like China and India.
Key players operating in the digital printing market are IZEA, HYPR-DRIVE Ltd., Traackr, Launchmetrics, JuliusWorks, Inc., KLEAR, Upfluence, AspireIQ, Mavrck, Lumanu Inc., LINQIA, INC, InfluencerDB, ONALYTICA, Lefty, Social Beat, and Grapevine. These key players are focusing on new product launches and partnerships to strengthen their market presence. For instance, in January 2022, Launchmetrics partnered with Anthropic to provide AI-powered recommendations and automations to brands for influencer marketing campaigns.
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