APAC Packaging Printing Market - Forecast(2020 - 2025)

 Packaging printing or labelling is a written, electronic, or graphic communication on the package of products or goods. Packaging and printing play an important role in the presentation of products today. Various types of inks and the latest innovative technologies are used in packaging printing. The APAC Packaging Printing market has been segmented based on technology, application, and country. Based on technology, the market has been sub-segmented into digital packaging printing, three dimensional packaging printing, and others. Based on application, the market has been segmented into health care, food and beverages, industrial goods, and others. The APAC Packaging Printing market is estimated to grow at a CAGR of 6.8% with a valuation of $203.54 bn during the forecast period 2019–2024.   

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APAC Packaging Printing Market Outlook

The packaging printing market is widespread in the Asia-Pacific region with respect to multiple printing technologies and applications in a wide spectrum of industries. The presence of various industries related to food and beverages, consumer electronics, and many others in countries such as China, India, Japan, and South Korea has resulted in significant demand for packaging solutions in the region. On the basis of technology, digital printing is projected to record the highest CAGR of 12.1% during the forecast period. The food & beverages segment held the largest share in terms of application in 2018 and is expected to continue its dominance throughout the forecast period, that is, from 2019 to 2024. China dominated the APAC packaging printing market with a share of 52.6% in 2018.

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APAC Packaging Printing Market Growth Drivers 

The APAC Packaging Printing Market is largely driven by the increasing consumer spending and rising demand for sustainable products. Increase in consumption of processed food is driving the growth of the market. Emerging Technologies for packaging printing can also be seen as a driving factor for the growth of the market. The growing pharmaceutical industry and the increasing demand for convenient packaging are also major growth factors for this market.

APAC Packaging Printing Market Challenges 

Increase in price of raw materials and the non-availability of raw materials are major problems faced by this industry. Fast changing technology in packaging printing is a constraint for this market. Entry of printing industries into the packaging industry can be considered as a setback for this market. Pricing pressure from other brands can also be a restraining factor for this market.

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