Market Trends of Flexographic Printing Machine Industry
Food & Beverages is Expected to Hold the Largest Market Share
- Flexographic printing has been making waves across various industries, finding significant applications in business operations and consumer market expectations. The consumer market's demands are prone to rapid change. The consumer always wants well-packaged goods available at the grocery store. So, the food industry has constantly been working to meet market demand by improving lead times, increasing print quality, and shortening production periods.
- The demand for flexographic printing machines in the food industry is increasing due to several factors, including reducing production costs, meeting increased market demand quickly, and many more. Because of the versatile nature of flexography, any ink can be used to print on a broad range of different materials. Packaging supplies and flexographic inks are less pricey than those required in other printing procedures.
- The food and beverage industry is a significant consumer of flexible packaging products such as films, pouches, and many more printed using flexographic printing machines. The increasing consumption of such packaging is expected to bolster the market demand for such machines over the forecast period.
- The food and beverage industry is governed by stringent regulations regarding using inks on packaging and labeling. Flexographic printing, which involves quick-drying and non-toxic inks, is desirable for printing food and beverage packaging and is expected to boost the adoption of flexographic printing machines over the forecast period.
- According to the Ministry of Heavy Industries, the production value of printing machinery in India in 2020 was INR 126.78 billion (USD 1.53 billion), and it will reach USD 234.79 billion (USD 2.84 billion) in 2024. An increase in production value can positively influence the market for flexographic printers. Flexographic printing, which is used widely in the packaging industry, includes food and drink packaging; as consumer spending on foods and nonalcoholic beverages increases, there is a growing demand for packaging material and labels requiring print equipment such as flexographic printers.
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Asia Pacific is Expected to Register the Highest Growth Rate
- The growing urban population primarily drives the Asia-Pacific region, increased packaged food demand, simple access to polymer films, and a relatively inexpensive labor pool. Economical options for adorning containers with complicated designs are projected to expand in South-East Asia, a price-sensitive market significantly.
- The consumption of FMCG products is anticipated to rise along with the demand for food and beverage products and personal care items—the necessity for high-speed & high-quality labeling solutions and the need for packaging in the food business.
- The e-commerce industry in the region is proliferating, which is one of the significant factors that would fuel the adoption of flexographic printing machines over the forecast period. Flexographic printing plays an essential role in printing labels and corrugated cardboard, which is widely adopted across the industry. For instance, according to Invest India, the e-commerce market in India is also set to grow for gross merchandise value to reach USD 200 billion by 2026.
- The essential industries in the Japanese packaging market are food, alcoholic beverages, non-alcoholic beverages, cosmetics, and toiletries. The packaging industry in Japan is characterized by its intense usage in the food industry. In Japan, paper packaging, such as corrugated boxes, is mainly demanded for food packaging and packaged goods such as electrical appliances, medicine, and cosmetics, or as boxes for mail and parcel delivery or moving. Plastic packaging is commonly used for food and beverage containers as well. The rapidly expanding e-commerce sector in the country is also a factor in the expansion of flexographic machines. These machines are quickly becoming a popular option for businesses that deal in many products because they are easy to use and save a ton of time and money.
- On the other hand, flexographic printing machines have grown significantly in India recently. The quick shifts in packaging patterns across the nation are one of the main drivers of industry expansion. There has been a massive uptake of novel packaging methods. India's market for flexographic printing machines has a sizable potential because of increasing and recovering market growth. The main driver of the nation's expanding flexographic printing machine market is the increased need for packaging solutions for a variety of goods as well as for high-quality, fast printing equipment. Also, the government is assisting the printing machine market by educating consumers about proper labeling.
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