The flexographic printing market is seeing significant growth, increasing from $5.87 billion in 2023 to $6.34 billion in 2024, at a CAGR of 8.0%. This growth is driven by the rise in the packaging industry and demand for sustainable packaging solutions. By 2028, the market is expected to reach $8.38 billion, growing at a CAGR of 7.2%. Key trends include innovations in printing technologies, increased demand for printed labels, and workflow efficiency improvements.
Major Driver In The Flexographic Printing Market
The escalating demand for packaged food products is a catalyst for the anticipated growth in the flexographic printing market. Packaged food products, designed for prolonged shelf life and sterility, require attractive, cost-effective, and lightweight packaging. Flexographic printing plays a crucial role in meeting these packaging needs, facilitating effective marketing through label packaging. In 2021, the Food Industry Association (FMI) projected that online sales of packaged food and beverages could reach a substantial $109 billion. As a result, the increasing demand for packaged food products is a driving force behind the growth of the flexographic printing market. To comprehend the market dynamics fully, it is essential to delve into the market size figures for the years 2023, 2024, and 2028.
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Flexographic Printing Market Competitive Landscape
Westrock Company, Amcor Limited, Barry-Wehmiller Group Inc., Rotatek Printing Machinery Co. Ltd., BOBST Group SA, Koenig & Bauer AG, Windmöller & Hölscher Corp., Komori Corporation, Flint Group Holding S.A., SOMA Engineering S.p.A., Mark Andy Inc., MPS Systems B.V., Gallus Holding AG, Star Flex International Limited, Nilpeter A/S, Edale Holdings Limited, Comexi Group S.A., Nuova Gidue S.p.A., Tresu Group A/S, R.K. Label Printing Machinery Private Limited, Aim Machintechnik Pvt. Ltd., Wolverine Flexographic LLC, OMET S.p.A., Allstein GmbH, Shanghai Printyoung International Industry Co. Ltd., Polygraph Limited, Shanghai Liu Xiang General Equipments Co. Ltd., Orient Sogyo Co. Ltd., Uteco S.p.A., Codimag S.p.A., Anderson & Vreeland Inc., Heidelberger Druckmaschinen AG
Key Flexographic Printing Market Trend
Technological advancement is a key trend in the flexographic printing market. Companies are focused on new technologies to meet consumer needs and strengthen their market position. For example, MPS, a U.S.-based manufacturer of printing presses, introduced E-Sleeve technology. This innovation enhances print efficiency and quality with features like precise concentric runout, increased dimensional accuracy, and consistent parallelism, ensuring high-speed, high-quality production.
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Flexographic Printing Market Segmentation
The flexographic printing market covered in this report is segmented –
1) By Printing Equipment: Narrow Web, Medium Web, Sheet Fed
2) By Technology: Automatic, Semi-Automatic
3) By Application: Corrugated Boxes, Folding Carton, Flexible Packaging, Labels, Print Media
4) By End User Industry: Industrial, Print Media, Food And Beverage, Consumer Electronics, Pharmaceutical, Others
By Geography:The regions covered in the flexographic printing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
Asia-Pacific was the largest region in the flexographic printing market in 2023.
The Flexographic Printing Global Market Report 2024 furnishes information about the global flexographic printing market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
