Flexographic Printing Market Size, Share & Analysis

Updated on : Oct 22, 2024

Flexographic Printing Market Size & Share

The Flexographic Printing Market Size is expected to be valued at USD 8.7 Billion in 2023 and reach USD 10.6 Billion by 2028, growing at a CAGR of 4.1% during the forecast period 2023 to 2028.

The growth of the consumer goods industry is one of the major industrial growths to support the printing and packaging industries. Increased consumer spending power and demand for various consumer products extend the demand for packaging, labels, and other printed materials, creating opportunities for flexographic printing industry to cater to these needs. The objective of the report is to define, describe, and forecast the flexographic printing market based on offering, application, and region.

Flexographic Printing Market Forecast to 2028

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Flexographic Printing Market Trends

Drivers: Growth of the packaging industry

The packaging industry is driven by increasing consumer demand for packaged goods, contributing significantly to flexographic printing demand as flexographic printing is widely used for packaging materials such as labels, cartons, bags, and flexible packaging.

The packaging industry is continually evolving with growing trends such as booming E-commerce and online shopping, due to which there has been a surge in demand for packaging material to protect and deliver the products. Increased awareness towards sustainability of the environment and demand for eco-friendly packaging solutions by the companies have added to the growth of this industry.

Labor cost and skilled workforce

The operation of flexographic printing equipment requires knowledgeable and experienced operators who can efficiently manage the printing process and perform maintenance. Labor costs and the availability of a skilled workforce can indeed be a restraint for the flexographic printing market.

Flexographic printing involves complex machinery, plate-making processes, ink mixing, and color management. skilled operators are essential to ensure the printing process runs smoothly, efficiently, and produces high-quality output. Proper investments in workforce training are essential for the printing process. Hence, the availability of a skilled workforce and the associated labor costs can impact the flexographic printing market's efficiency, quality, and competitiveness.

Opportunity: Customization and personalization packaging

Flexographic printing allows businesses to create custom designs and branding that stands out in the market. This uniqueness helps brands differentiate themselves and establish a strong identity in consumers' minds.

The versatility provided by the flexographic printing market growth are well-suited for producing tailored packaging solutions rendering the demand of customization by the consumers based on target demographics, events, or seasons. Flexographic printing can integrate variable data printing, enabling the incorporation of individualized text, images, and QR codes. This capability is particularly valuable for promotions, personalized messages, and serialized labels. Moreover, its printing efficiency makes producing small batches of customized products feasible, catering to niche markets and micro-targeted audiences.

Challenge: Shift in market demand

Changing Consumer Preferences for packaging design, materials, and sustainability practices increases demand for flexographic printers to offer solutions that align with these shifting demands.

The rise of e-commerce has led to unique packaging requirements, such as shipping-friendly designs and unboxing experiences. Flexographic printers must cater to these specialized needs to serve e-commerce businesses effectively. The trend towards shorter print runs and on-demand printing requires flexographic printers to optimize their processes to efficiently cater to these smaller production quantities. In addition to that brands also become more price-sensitive due to economic fluctuations. Flexographic printers must balance cost-effective solutions while delivering high-quality, visually appealing printed materials.

Flexographic printing Map/Ecosystem:

Flexographic Printing Market Segment

Market for corrugated packaging is expected to have largest market share during the forecast period.

In 2022, corrugated packaging held the largest share of the flexographic printing market, and a similar trend is likely to be observed in the coming years. Corrugated packaging plays a significant role in the flexographic printing market as it is widely used in printing methods for packaging materials, including corrugated boxes.

These types of packaging are commonly used for shipping and storing products. Applying flexographic printing to these boxes allows manufacturers and retailers to directly print branding elements, product information, logos, barcodes, and other relevant details onto the packaging. Bobst (Switzerland), Heidelberger Druckmaschinen AG (Germany), and Nilpeter A/S (US) are a few of the key players offering corrugated packaging.

Market for the wide web flexographic printing machine to have largest market size during the forecast period.

Wide web in flexographic printing involves using flexographic technology to print on substrates of significant width. This segment of the market is known for its capability to produce large-scale packaging materials and printed products efficiently.

Wide web printing is chosen for its ability to produce a significant amount of printed material in a relatively short amount of time, making it ideal for industrial-scale applications such as producing packaging materials for bulk items (grains, cement, and other industrial goods). It is cost-effective for large print runs, where the benefits of scale contribute to lower costs per unit. Moreover, it can also be integrated with digital printing technologies for variable data and customization.

Flexible packaging application segment is expected to hold the highest growth rate in the flexographic printing market during the forecast period

Flexible packaging application segment is expected to hold the highest growth rate in the flexographic printing market during the forecast period. Flexible packaging is a type of packaging that is made from flexible materials that can be easily molded, folded, or bent.

This packaging type offers various benefits in terms of convenience, preservation, and sustainability. Flexible packaging serves a wide range of industries and sectors such as food, beverages, personal care items, and pharmaceuticals among others. The materials used in flexible packaging are plastic films, aluminum foil, paper, and laminates, which combined to create structures that provide barrier properties to protect the contents from moisture, oxygen, light, and other external factors.

Flexographic Printing Market Regional Analysis

Flexographic printing market in the Asia Pacific estimated to grow at the fastest rate during the forecast period.

The flexographic printing market in the Asia Pacific has been studied for China, Japan, South Korea, India, and the Rest of Asia Pacific. The growth of the flexographic printing market in the Asia Pacific is attributed to the growing demand for quality, efficiency, and innovation which the packaging industry demands.

The availability of cheap and abundant labor, along with low prices of energy and relaxed environmental norms, has aided the growth of packaging printing companies.

Flexographic Printing Market Statistics by Region

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Top Flexographic Printing Companies - Key Market Players

Major vendors in the flexographic printing companies include

• Bobst (Switzerland),
• Mark Andy Inc. (US),
• Nilpeter A/S (US),
• Amcor Plc (Australia),
• Windmöller & Hölscher (Germany),
• Heidelberger Druckmaschinen AG (Germany);
• MPS Systems B.V. (Netherlands).

Flexographic Printing Market Report Scope

Flexographic Printing Market Highlights

This research report categorizes the flexographic printing market based on offering, application and region.

Recent Developments in Flexographic Printing Industry

• For instance, In February 2021, Mark Andy, Inc. (US) announced the launch of its latest production inkjet press, Digital Series iQ. Built on Mark Andy Inc. evolution series of flexographic platform for providing flexibility in various applications, the press uses a Domino N610i UV inkjet module for high-quality production-class printing. Moreover the press has a high-quality print resolution achieving speeds up to 230 fpm (70 mpm) in rapid production mode
• In August 2022, Windmöller & Hölscher (W&H) has launched the VISTAFLEX II, which is  CI flexographic press with wide-web press that could run jobs 24/7 with a  speed of up to 800 m/min (2,620 ft/min) with quick and easy job changeovers. Moreover, this version is launched with technical upgradation and modern look.

Critical questions answered by this report:

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