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HomeBusinessSmithers Forecasts Expansion of Packaging Print Market to $473.4 billion Through to 2027

Smithers Forecasts Expansion of Packaging Print Market to $473.4 billion Through to 2027

20 August 2022: Labels and printed packaging continue to increase in demand, and represent a strategic priority for press OEMs, ink suppliers and print service providers across the next five years.

A new study ‘The Future of Package Printing to 2027’ – on how this sector is emerging from Covid-19 and will evolve in the medium term is now available to purchase from Smithers – the leading consultancy for the paper, print and packaging industries. Smithers’ data forecasting charts how a global market worth in $456.3 billion in 2021, will increase to $473.7 billion and then grow at a compound annual growth rate (CAGR) of 3.1% to reach $551.3 billion in 2027 (constant 2021 prices).

Across the same period the volume of corrugated board, folding cartons, rigid and flexible plastics, metal, and labels stocks printed worldwide will increase from 13.0 trillion to 15.4 trillion A4 print equivalents.

Flexo will remain the most widely used print process – due to its popularity in long-run corrugated board, labels and flexible plastics work. It represents around 36% of the contemporary market and natural expansion gives flexo a positive growth outlook (+2.4% CAGR, be value) through to 2027. Other analogue processes, including offset litho (+2.5% CAGR), will see similar organic growth across the five-year Smithers study period, mainly from developing markets.

Packaging print is becoming increasingly competitive and will be the focus for further technical innovation through the 2020s. Among the main challenges are to:
– Improving the sustainability of print systems by minimising waste, optimising the energy efficiency of print equipment, and developing systems that can print on an array of new more sustainable packaging substrates, including flexible barrier papers, moulded fibre, and monomaterial polymer constructions
– Adapt to new legislative requirements to move away from single-use plastics, and improve recyclability of all formats
– Reacting to post-Covid print buying patterns, by reducing turnaround times, embracing print-on-demand business models, and enabling more economic short promotional and versioning commissions
– Make print supply more resilient and agile to withstand disruption, including following the post-pandemic trend to re-shore or near-shore of production of certain essential FMCGs

This comprehensive strategic study is available to purchase now, priced $6,750 (€5,950, £4,950).

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