Printed labels and packaging market set for steady growth

In 2024, the printed labels and packaging market was valued at USD 517.9-billion, with 14.3-trillion A4 equivalents produced, according to a new market report from Smithers, the worldwide authority for the print industry.

Research published in The Future of Package Printing to 2029 shows stability is returning to the market. Growth resumed in 2024 and will continue at a compound annual growth rate (CAGR) of +3.6% for volume and value in the five years to 2029. This will push the value to USD 618.2-billion in 2029 (at 2023 constant pricing), with output rising to 17.1-trillion A4 prints.

The package printing market in 2024 was worth USD 512-billion. This will increase to USD 695-billion by 2029. Between 2024 and 2029, the market will witness a growth rate of 6.3% CAGR in value terms.

The report segments the packaging print sector by packaging material, print process, geographic region, and leading national market. This is informed by analyses of leading technical and commercial developments – including the increased adoption of digital print, improved packaging line automation, changes in demographics and retail infrastructure, brand owner calls for more sustainable packaging, and the use of AI in print design.

Print processes for packaging and labels are seeing higher levels of automation, with prepress, printing and finishing operations increasingly connected and controlled by advanced software. In this context, digital printing and analogue methods that can be integrated into converting lines are favoured, with high levels of automation simplifying packaging manufacture.

Flexo printing is by far the largest segment by both volume and value. In value terms, the next largest is offset litho and other analogue printing, with the former widely used for carton printing, corrugated pre-print and wet glue labels, while the latter reflects the high use of dry offset for printing metal packaging and some rigid plastics.

According to a press note published by Smithers, digital printing is a mainstream production process for labels. The press note says, “Digital print is making inroads into corrugated packaging with many single-pass inkjet presses available for preprint and post-print operations; as well as many multi-pass wide-format and flatbed engines used for low-volume corrugated packaging. Digital print is making headway in cartons, with low-volume toner used for short runs, while B2 and B1 sheetfed launches are replacing some offset machines.”

Three regions – Asia, Western Europe, and North America – contribute to 81.5% of global package printing output value and 82.0% of the volume in 2024; these shares will remain broadly unchanged in 2029. Asia is the largest, led by China with its strong manufacturing base and export market and growing domestic consumer demand for packaged goods.