Smithers predicts 3.6 % increase in CAGR of the print and packaging industry

The rising consumption of packaged goods by the masses is soaring in its growth. At Drupa 2024, several unveiled new machines for printing corrugated boards, folding cartons, flexible packaging and labels. By the end of this year, it is expected that 14.31-trillion A4 print equivalents of label, folding cartons, flexible paper and plastics, rigid packaging and metal packaging printed this year will absorb 1.54-million tons of ink.

It is predicted that the global value shall reach USD 604.0 billion in 2029 leading to a 3.6 % increase in CAGR. The output will increase to 17.12-trillion A4 equivalents within the same five years.

Digital and analogue printers are increasing their production of presses with the available market, with flexo being the highest prevalent in use and accounting for 52.6 % of accounting output. Gravure and offset litho print account for 20.1 % and 17.9 % respectively.

Digital print poses a challenge to analogue equipment manufacturers as the quality of inkjet machines is improving as they become cost competitive for longer print-runs. A host of new machines for high-speed digital printing of folding cartons were showcased at Drupa 2024 . While digital accounts for only 1.1 % volume in 2024, it represents 3.9 % of value, with Smithers forecasting that its CAGR will grow by 12.8 % in the next five years.

Analogue printers are adapting to changes in packaging materials, with the drive for sustainability pushing converters to use more paperboard and coated paper stocks as well as thicker monomaterial polymer formats in flexibles.