A new study from Smithers Pira, The Future of Printing for Food Packaging to 2023, predicts that by 2023 the amount of ink jet printing on food packages will double. According to the study, currently about 60% of all printed packaging pertains to food.
Some findings of the study include that in 2018, 58.7% of all printed packaging around the globe is food packaging. Other findings in the report include:
The most lucrative food packaging formats include folding cartons and flexible packaging with market shares by value in 2018 of 22.9% and 26.1% respectively.
Asia’s market share is expected to grow from 38% in 2018 to 41.3% by 2023; this is the largest global region in terms of food packaging printing.
While the overall print market is expected to grow by 0.8% year-on-year over the five-year period, the study predicts food packaging printing will grow at 3.6% over the same period.
In 2018 alone, nearly 395 billion square meters of primary food packaging will be printed.
Over the next five years inkjet printers’ output of food packaging is expected to more than double.
Source: Smithers Pira