The global packaging and printing market will leverage $618.2 billion in 2029

Trends in the global packaging and printing market

　　According to the report, in 2024, the global packaging and printing industry will resume growth, with a market size of 517.9 billion US dollars, printing 14.3 trillion sheets of A4 paper labels, corrugated cardboard, folding cartons, soft paper and plastic, rigid plastic and metal packaging, and consuming 1.54 million tons of ink. It is expected that the global packaging and printing industry will continue to grow at a compound annual growth rate of 3.6% in the next 5 years, which will bring the market size to $618.2 billion in 2029 and the output will rise to 17.1 trillion pieces of A4 paper.

Trends in the global packaging and printing market

　　According to the report, in 2024, the global packaging and printing industry will resume growth, with a market size of 517.9 billion US dollars, printing 14.3 trillion sheets of A4 paper labels, corrugated cardboard, folding cartons, soft paper and plastic, rigid plastic and metal packaging, and consuming 1.54 million tons of ink. It is expected that the global packaging and printing industry will continue to grow at a compound annual growth rate of 3.6% in the next 5 years, which will bring the market size to $618.2 billion in 2029 and the output will rise to 17.1 trillion pieces of A4 paper.

The market share of flexographic printing will reach 52.6%, and the compound annual growth rate of digital printing will reach 12.8%

　　Our report segments the packaging printing industry by packaging materials, printing processes, geography, and others. This is derived from an analysis of leading technologies and market developments, including the widespread adoption of digital printing, increased automation of packaging printing lines, changes in demographics and retail infrastructure, brand owners’ calls for more sustainable packaging, and the use of artificial intelligence in print design.

　　According to the report, flexographic printing is still a widely used printing process, especially for high-volume corrugated cardboard and label applications, with a market share of 52.6%. Gravure and offset printing technologies are also popular, mainly for printing higher quality graphics on folding cartons and flexible packaging, accounting for 20.1% and 17.9% of packaging and label production, respectively.

　　Digital printing is currently the mainstream production process for labels and is making its way into corrugated packaging. Although digital printing products will only account for 1.1% of production in 2024, their market size will account for 3.9%. The Smithers Institute predicts that digital printing will grow at a CAGR of 12.8% over the next five years, and its market share will further expand. Advances in digital printing technology are also posing challenges to traditional printing equipment manufacturers. As inkjet and toner printing equipment improves in terms of print quality and cost-effectiveness, it is becoming more competitive in long-run orders, providing packaging buyers with greater flexibility and customization options. This trend was also revealed at drupa Print 2024, with a number of new machines for high-speed digital printing of folding cartons, as well as single-lane inkjet corrugated presses, as well as narrow toner and inkjet presses, which are increasingly configured to accommodate short-run printing operations. At the same time, traditional printing equipment manufacturers are responding by investing more in prepress and print automation technologies and combining them with software such as workflows and online maintenance platforms. In addition, the development of hybrid printing systems has also become a major trend.

　　Geographically, in 2024, Asia, Western Europe and North America will contribute 81.5% of the global packaging and printing output value and 82.0% of the sales volume, and these shares will remain largely unchanged in 2029. Among them, Asia has a large market share, led by China, which has a strong manufacturing base and export market, and the market stems from the growing demand for packaged goods from domestic consumers.

Packaging printing will become a substantial growth area, and the industry will gradually shift to digital printing

　　According to the latest analysis from the Smithers Institute, packaging printing will be an area that will see significant growth over the next 5 years. The global packaging printing market is set to grow relatively strongly by 3.6% over the next 5 years, in contrast to the decline in traditional graphic printing.

　　”This is a real growth forecast.” Johnny Nelson, editor of the Smithers Institute, explained that growth is mainly concentrated in developing regions, especially Asia, rather than Western Europe, North America.

　　”At the end of the day, demand is consumer-driven, and more and more households around the world are using packaging.” Sean Smith, an advisor and industry veteran in the information department at the Smithers Institute, added that the burgeoning middle class in Southeast Asia, Latin America and Africa is driving demand as supply chains further develop in these regions.

　　Sean Smith also added that in a more developed print market like the UK, technological advancements in digital printing have provided more opportunities for printers. “In some areas, digital technology is in direct competition with flexographic printing, with its share gradually increasing, including labels, cartons, flexible packaging and corrugated paper.” According to Sean Smith, at present, the two processes are largely complementary. As digitalization becomes more competitive in terms of reliability and productivity, the digital advantage of variable data being easily changeable offers brands benefits that are not possible with flexo or other traditional printing processes.

　　”Flexo’s 52.6% market share shows that it is still a widely used process and that it is cost-effective in the long run.” Sean Smith says the shift to digital printing is obvious, albeit a gradual one. At the same time, many flexographic printing equipment suppliers are developing machines in mixed configurations and increasing automation to address the threat of inkjet.

　　John Nelson said that the automation of the printing process is becoming increasingly important to the packaging industry, and advanced workflow software that can handle complex processes will be valued. “As AI deepens into the industry, it has the potential to become a valuable tool in packaging design to accelerate the time-to-market of packaged products.” He added.