Digital Printing Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 33.43 Billion |
| Market Size (2029) | USD 45.93 Billion |
| CAGR (2024 - 2029) | 6.36 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Digital Printing Market Analysis
The Digital Printing Market size is estimated at USD 33.43 billion in 2024, and is expected to reach USD 45.93 billion by 2029, growing at a CAGR of 6.36% during the forecast period (2024-2029).
Digital printing is a process of printing using technologies onto various media substrates. Digital printing is more accurate and cost-effective than conventional printing processes. The need for high-quality, cost-effective graphics and environmental sustainability is anticipated to drive awareness toward digital printing.
- Significant improvements in print manufacturing include efficiency, with just-in-time production and a growing focus on supply chain management, which have reduced wastage in the print market. Technological developments aiding digital printing have guaranteed waste minimization, keeping the print quality at par.
- Advanced digital printing technology includes mild solvents and less harmful chemicals than conventional printing technologies, such as solid ink printing and offset printing. Hence, the demand for digital printing solutions is increasing in the printed electronics market, increasing the focus on green printing and cost-effective production.
- Commercial printing is witnessing transitional and structural changes as a significant application, as the immediate transition from conventional methods of print to digital is challenging. The printing cost is expected to take a toll since it is still a niche method requiring print of shorter/customized batches.
- Moreover, with the rise of retail businesses such as supermarkets, hypermarkets, and e-commerce, there is an increasing demand for personalized and customized printed products. Digital printing technology allows firms to produce small batches or even individualized items cost-effectively, catering to niche markets and customized customer choices.
- The latest advancements, such as AI, machine learning, IoT, and data analytics, have personalized offerings to a significant extent. The convergence in digital printing enables superiority in print personalization for large-volume orders. However, the cost factor remains a big hurdle. Additionally, high-priced investments for inks or equipment, maintenance, installation fees, and other consumables might limit the market's growth.
Key Market Trends
The Packaging Segment is Expected to Witness Significant Growth
- The packaging industry sees vast scope for implementing digital printing. Different packaging methods and technologies to cater to varying product demands for specific types of branding deploy different printing technologies. Some packaging industries include cartons, labels, metal packaging, rigid plastic packaging, corrugated packaging, and flexible packaging.
- Corrugated boxes and display making have been at the forefront of digital in the converting sectors. Digital printing can replace litho or flexo for either pre-print or post-print production, although each requires different configurations. The past decade witnessed the advancement in high-speed single-pass inkjet presses with robust sheet feeders for much higher throughputs than flatbeds could ever manage, which could handle thousands of sheets per hour.
- According to a study by Huhtamaki Oyj, from festive promotion with personalized packaging or premium dry fruit packing launched in multiple product-based designs, innovative digital printing allows a realm of new packaging opportunities in terms of data printing, short-runs, quick turn-around time, and energizing shelf-appeal of flexible packaging. Digital printing is shaping up an essential role in the future of product safety and promotions through flexible packaging.
- Cartons offer many benefits, such as superior printability and flexibility. As secondary packaging, it is widely needed for packaging products in different sectors, such as medicine, consumer goods, cosmetics, and household products. Digital printing systems and embellishment presses can apply specialty coatings to folding cartons, delivering new sources of profitability for commercial printers.
- According to Suzano SA, the consumption of cartonboard in 2021 was 53 million tons and is expected to reach 56 million tons in 2024. Moreover, the demand for cartonboards is predicted to increase further over the next decade, reaching 66 million tons by 2032. Digitally printed packaging products can be created with stunning visual effects, reproducing the gradient and details in original design files. Digital printing will generate the full CMYK spectrum of colors and works on a range of paper materials.
Asia-Pacific is Expected to be the Fastest Growing Market
- The digital printing industry is focused on data-based business models, digital platform solutions, and end-to-end digitized value-creation chains. Over the last decade, enterprises operating in printing-related industries in India have witnessed fierce competition owing to the rise of online media.
- The digital printing industry in emerging countries such as India is on a trajectory of significant growth, with an expanding global market size. Technological advancements, transforming consumer behavior, and developing the packaging industries are pushing the market.
- As small and medium enterprises (SMEs) have grown and customized marketing collateral has surged, a pressing demand arose for a solution that could efficiently and affordably deliver high-quality prints in small quantities. The rise of SMEs and the growing trend of tailored marketing materials have arisen as a solution to address the challenge of producing top-notch prints in small amounts while also ensuring speed and cost-effectiveness.
- Companies operating in the industry are focused on innovating new printing solutions in the market. For instance, in January 2024, Global Graphics Software, a developer of smart software components for print OEMs, extended its strategic business partnership with a Japanese manufacturer of digital inkjet printers. The partnership was initially started in 2016 when the company integrated Global Graphics Software’s Harlequin Core SDK into its RIP software that pushes its printers.
- Further, according to Indian Printer and Publisher, commercial printing increasingly embraces digital printing. Also, the signage industry is considering new technologies such as digital 3D additive printing. Therefore, developing countries, such as India, are among the fastest-growing economies, which would leverage the market for digital printing in various end-user industries across the country.
Digital Printing Industry Overview
The digital printing market consists of several major players, and the market is fragmented. Some significant players, such as Smurfit Kappa Group PLC, Westrock Company, Avery Dennison Corporation, Multi-Color Corporation, Amcor PLC, and ARC Document Solutions LLC, currently dominate the market in terms of market share. The companies offer specialized products, increasing their market share and profitability by leveraging strategic collaborative initiatives. Companies operating in the market prefer mergers and acquisitions to strengthen their product capabilities and improve the market portfolio served by digital printing devices.
- March 2024: HP Inc. is driving digital printing with the latest HP digital printing presses and intelligent solutions designed to address production challenges in the commercial printing lab, ELS, and packaging industries. HP has been a digital transformation leader, and its digital printing technology has established the gold standard in commercial print, label, and packaging production.
- October 2023 - Xeikon, one of the global leaders in digital printing technology, announced its participation in PRINTING United 2023, the premier event for the printing industry, which took place at the Georgia World Congress Center in Atlanta, Georgia. As a critical player in the printing technology sector, Xeikon showcased its cutting-edge digital production solutions. The company launched various products, such as Xeikon SX30000, which redefines the possibilities of digital printing.
Digital Printing Market Leaders
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Westrock Company
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Avery Dennison Corporation
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Amcor PLC
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Smurfit Kappa Group PLC
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ARC Document Solutions LLC
*Disclaimer: Major Players sorted in no particular order
Digital Printing Market News
- February 2024: Canon India launched imagePRESS V1350 with two brand-new installations in India. The imagePRESS V1350 joins the new generation imagePRESS VSeries Printers, including the imagePRESS V1000, V900, V800, and V700.
- December 2023: Saica installed the HP PageWide C550 digital corrugated press, which works alongside its HQPP Flexo presses and will allow the company to expand its wide customer offering with digital solutions in its facility in Navarra, Spain.
Digital Printing Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Attractiveness - Porter's Five Forces Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Buyers
4.2.3 Threat of New Entrants
4.2.4 Threat of Substitute Products
4.2.5 Intensity of Competitive Rivalry
4.3 Technology Snapshot
5. MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Growth of Packaging and Textile Industries and Rising Demand for Digital Advertisements
5.1.2 Reduction in Per Unit Cost of Printing with Digital Printers
5.2 Market Restraints
5.2.1 Investment in R&D Activities and Additional Capital Expenditure
6. MARKET SEGMENTATION
6.1 By Printing Process
6.1.1 Electrophotography
6.1.2 Inkjet
6.2 By Application
6.2.1 Books
6.2.2 Commercial Printing
6.2.3 Packaging
6.2.3.1 Labels
6.2.3.2 Corrugated Packaging
6.2.3.3 Cartons
6.2.3.4 Flexible Packaging
6.2.3.5 Rigid Plastic Packaging
6.2.3.6 Metal Packaging
6.3 By Geography***
6.3.1 North America
6.3.1.1 United States
6.3.1.2 Canada
6.3.2 Europe
6.3.2.1 United Kingdom
6.3.2.2 Germany
6.3.2.3 France
6.3.2.4 Italy
6.3.2.5 Spain
6.3.2.6 Netherlands
6.3.2.7 Poland
6.3.3 Asia
6.3.3.1 China
6.3.3.2 India
6.3.3.3 Japan
6.3.3.4 Australia and New Zealand
6.3.4 Latin America
6.3.4.1 Brazil
6.3.4.2 Mexico
6.3.5 Middle East and Africa
6.3.5.1 United Arab Emirates
6.3.5.2 South Africa
6.3.5.3 Saudi Arabia
6.3.5.4 Egypt
7. COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 Smurfit Kappa Group PLC
7.1.2 Westrock Company
7.1.3 Southland Printing Company Inc.
7.1.4 IronMark Inc.
7.1.5 Xeikon NV
7.1.6 ARC Document Solutions LLC
7.1.7 Avery Dennison Corporation
7.1.8 Multi Color Corporation
7.1.9 Amcor PLC
7.1.10 Sato America
7.1.11 DS Smith PLC
7.1.12 Mondi PLC
7.1.13 CPI Corporate
7.1.14 Core Publishing Solutions
7.1.15 Command Companies
7.1.16 Quad/Graphics Inc.
7.1.17 Walsworth Publishing Company
- *List Not Exhaustive
8. INVESTMENT ANALYSIS
9. MARKET OPPORTUNITIES AND FUTURE TRENDS
Digital Printing Industry Segmentation
Digital printing is a process that incorporates on-demand, high-quality print. It represents a modern production technique that enables printing from electronic files. Furthermore, it does not need a printing plate, unlike the more conventional offset printing. The study tracks the revenue accrued from the various digital printing processes that are being used across various applications. Also, the revenue accrued from the digital printing vendors has been considered.
The Digital Printing Market is Segmented by Printing Process (Electrophotography and Inkjet), Application (Books, Commercial Printing, and Packaging [Labels, Corrugated Packaging, Cartons, Flexible Packaging, Rigid Plastic Packaging, and Metal Packaging]), and Geography (North America [United States and Canada], Europe [Germany, United Kingdom, France, Netherlands, Poland, and Rest of Europe], Asia-Pacific [China, India, Japan, and Rest of Asia-Pacific], Latin America [Brazil, Mexico, and Rest of Latin America], and Middle East and Africa [United Arab Emirates, Saudi Arabia, Egypt, South Africa, and Rest of Middle East and Africa]). The market sizes and forecasts are provided in terms of value (USD) for all the above segments.
| By Printing Process | |
| Electrophotography | |
| Inkjet |
| By Application | ||||||||
| Books | ||||||||
| Commercial Printing | ||||||||
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| By Geography*** | |||||||||
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Digital Printing Market Research FAQs
How big is the Digital Printing Market?
The Digital Printing Market size is expected to reach USD 33.43 billion in 2024 and grow at a CAGR of 6.36% to reach USD 45.93 billion by 2029.
What is the current Digital Printing Market size?
In 2024, the Digital Printing Market size is expected to reach USD 33.43 billion.
Who are the key players in Digital Printing Market?
Westrock Company, Avery Dennison Corporation, Amcor PLC, Smurfit Kappa Group PLC and ARC Document Solutions LLC are the major companies operating in the Digital Printing Market.
Which is the fastest growing region in Digital Printing Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Digital Printing Market?
In 2024, the North America accounts for the largest market share in Digital Printing Market.
What years does this Digital Printing Market cover, and what was the market size in 2023?
In 2023, the Digital Printing Market size was estimated at USD 31.30 billion. The report covers the Digital Printing Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Digital Printing Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
What role does technology play in the growth of the Digital Printing Market?
Technological advancements, such as inkjet and laser printing, are crucial for the Digital Printing Market growth, offering higher efficiency, quality, and cost-effectiveness in printing solutions.
Digital Printing Industry Report
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