The packaging and label printing market has emerged as a critical driver for the future of the global printing industry, with a total estimated value of $504.9 billion in 2024, according to Smithers. This represents a significant growth trajectory, in contrast to declining traditional publication and graphics segments, as rising demand for packaged goods continues to fuel expansion.
The findings, detailed in Smithers’ The Future of Package Printing to 2029, project a compound annual growth rate (CAGR) of 3.6%, pushing the market’s value to $604.0 billion by 2029. Output is also set to rise, reaching 17.12 trillion A4 print equivalents by the same year.
drupa 2024 underscored this momentum, showcasing advancements in equipment for printing corrugated boards, folding cartons, flexible packaging, and labels. Flexographic printing remains the dominant process, accounting for 52.6% of production volume in 2024, followed by gravure (20.1%) and offset lithography (17.9%). Meanwhile, digital printing, though representing only 1.1% of volume, contributes 3.9% of the market’s value due to its versatility and customization capabilities.
“Digital printing is growing at a CAGR of 12.8%, driven by advancements in inkjet and electrophotography technologies,” noted a Smithers expert. These technologies offer faster turnaround times, reduced waste, and the ability to meet increasing demands for customization and integration with online systems.
To compete, analog press manufacturers are investing in automation, improved workflows, and hybrid systems combining inkjet with traditional processes. Sustainability concerns are also driving changes, with a shift toward recyclable materials, thinner label stocks, and water-based inks to comply with evolving regulations such as the EU’s Packaging and Packaging Waste Regulation (PPWR).
The report highlights that technological innovations and regulatory pressures are reshaping the market, providing both opportunities and challenges for OEMs and converters as they navigate the future of package printing.