Saturday, July 13, 2024

Surging Need for Packaging Boosts Flexographic Printing Market

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The flexographic printing market was USD 8,697.8 million in 2023, which will rise to USD 11,581.4 million, powering at a 4.3% compound annual growth rate, by 2030.

The growth of this industry is because of the advancing sale of consumer products, thus boosting the need for printing and packaging solutions. Flexographic printing enables the rapid creation of medium-to-large self-adhesive label prints, therefore, making it an ideal option for companies.

Print media plays a key part in smoothing communication between manufacturers and customers while assisting shipping businesses in efficiently managing the passage of products. Flexographic printing is extensively employed for different packaging materials like cartons, bags, flexible packaging, and labels.

The flexible packaging category, based on application, is likely to advance at the fastest CAGR in the years to come. These materials can be easily shaped, bent, or folded, and this packaging type offers advantages like preservation, convenience, and sustainability because this packaging necessitates less material than conventional packaging.

Moreover, it is lightweight, which leads to lower transport expenses, and it lengthens the shelf-life span of food products by defending them from moisture and oxygen. As a result, it is utilized across different sectors, including food & beverages, pharmaceuticals, and personal care products.

APAC is expected to be the largest contributor to the industry, with a 45% share, in the years to come. In developing nations like India, Thailand, China, Vietnam, and Indonesia, the surging need for commercial printing is boosting the expansion of this industry.

The rapid progression of the e-commerce industry in this region is also a key factor boosting the utilization of flexographic printing. It is beneficial for making corrugated cardboard and labels, which are significantly employed in this sector.

North America will propel at a 4.5% compound annual growth rate in the coming years. The quick progression and extensive acceptance of microcomputers and software technologies are boosting the level of automation in the printing procedure.

With the surge in the requirements for packaging and the growing sale of consumer products, the flexographic printing industry will continue to advance in the years to come.

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