The global — variable data printing market was valued at USD 11.8 billion in 2018 and is expected to reach USD 27.5 billion in 2026, growing at a CAGR of 16.4% during the forecast period.
Global variable data printing market is fuelled by factors such as demand for variable data printed labels from the food & beverage sector and the pharmaceutical industry. Variable data printing labels provide customizable packaging options. These labels are prepared by considering the flexibility and changes which will be made at the time of printing.
Rising demand for aesthetic packaging in food and beverages and healthcare industry which is coupled with need to protect brand identity is expected to drive the growth of the variable data printing market.
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Variable data printing is primarily used in food & beverages and healthcare sectors. These packaging technologies possess advantages such as customized labeling. Growing focus on personalized marketing is one of the major factors driving this industry. Increasing focus of manufacturers to prevent serious damage on the brand names is also propelling the industry towards further growth.
However, high prices of variable data printing are expected to hamper the growth of the global variable data printing market during the forecast period. Moreover, these are mostly preferred only if there is a need for automated and variable printing which poses prime challenges in the global variable data printing market throughout the forecast period.
Based on the product, release liner enabled products of variable data printing accounted for approximately 57% of the share whereas linerless enabled products accounted highest CAGR of around 19% in the global variable data printing market in 2018.
Based on the composition, the facestock segment accounts of the largest share in the market and is expected to grow at a CAGR of around 12% during the forecast period.
Based on the printing technology, the inkjet printing technology held the largest market share and is anticipated to grow at a CAGR of around 18% during the forecast period.
Based on the end-use industry, the food & beverage segment accounts of the largest share in the market and held for more than 38% of the total market in 2018
Asia-Pacific accounted for nearly 40% share of the global variable data printing market in 2018 followed by Europe.
In August 2019, customised branding and marketing solution provider, Precision Marketing (U.S.) installed HP Inc.’s variable data printing units HP Pagewide Web Press 240D in order to expand capacity to provide personalised marketing.
In January 2019, Advantage LLC (U.S.), specialised in personalised marketing installed HP Pagewide Web Press 240D.
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Release ID: 88921878