Print Industry in 2022 | All You Need to know
Wondering how was the performance of Print Industry in 2022? Was its graph down or up? It is worth knowing how the commercial printers performed through the year. If you are into the offset printing business or into the commercial printing and packaging industry.
Print and packaging is what initially draws a customer’s attention. Particularly in the consumer goods sector, these two are crucial. When worms were discovered in the chocolate bars in 2003, Cadbury India experienced a significant shock. It became an issue of improper packaging and unhygienic manufacturing flaws by the Food and Drug Administration( FDA). Cadbury had to redesign its packaging, before launching Dairy Milk back in the market. Thus, we can say that packaging has turned out to be a necessary step for any product- launching strategy.
Introduction to Print Industry:
Wondering how was the Printing Industry in 2022? Was its graph down or up? It is worth knowing how the commercial printers performed through the year if you are into the offset printing business or into the commercial printing and packaging industry.
Consumers are initially drawn to print and packaging. Particularly in the consumer goods sector, these two are crucial. When worms were discovered in the chocolate bars in 2003, Cadbury India experienced a significant shock. It was deemed a case of improper packaging and unhygienic manufacturing flaws by the Food and Drug Administration( FDA). Before Dairy Milk chocolate began to gain market traction, Cadbury had to redesign its packaging, which was engineered differently than earlier packaging. Thus, we can say that packaging has turned out to be a necessary step for any product- launching strategy irrespective of industry sectors.
Performance of Print Industry
- India commercial printing market size reached US$ 31.9 Billion in 2021
- IMARC Group is expecting the market to reach US$ 40.4 Billion by 2027
- Worldwide commercial printing market was valued at USD 433.79 billion in 2021
- 250,000+ companies makeup the Indian printing industry, which is increasing by 12% each year.
Industry estimates place the Indian packaging market at about$ 31.7 billion in 2015. An ASSOCHAM-EY joint study predicts that the industry will continue to grow until 2021. It will reach a CAGR of 18% and growing by US$ 72.6 billion by FY20.
Key elements like a growing population, rising income levels, and changing lifestyles are what are driving the growth.
The print sector makes up about 4% of the global market. But India’s per capita packaging consumption is much lower— only 8.7 kilograms— than that of nations like Germany and Taiwan, where it is 42 and 19 kg, respectively. According to experts, the food and pharmaceutical packaging industries are primarily responsible for India’s expanding packaging industry. The packaging market is developing as a result of the large and expanding Indian middle class and the nation’s expanding organized retailing sector.
What is driving this print industry so far?
As already mentioned, growing population, rising income levels, and changing lifestyles, demand for packaged goods are what are driving the growth. Let’s go through the other factors that are responsible for the growth of the commercial print industry in 2022
- The explosive growth of exports, which necessitates higher packaging standards, has significantly boosted the packaging machinery sector. Hence, it is crucial for Indian businesses to adopt better packaging techniques, materials, and equipment in order to guarantee quality.
- In the international market, India is becoming a significant exporter of packaging materials. India’s export of packaging materials increased by a CAGR of 9.9% to US$ 1, 119 million in 2021– 2022 from US$ 844,000,000 in 2018– 19. The US continues to be the main export market for the packaging sector, followed by the UK, UAE, Netherlands, and Germany.
- According to the chairman of International Relations – All India Federation of Master Printers (AIFMP), India is one of the few markets in the world with high growth and earning potential for the printing and packaging industries for two main reasons: first, because education is spreading throughout the country, and second, there is an abundance of raw materials there.
Role of E-commerce
- E-commerce and organized retail are also playing a major role in pushing this sector. The demand for high-quality product packaging has increased as a result of online shopping and widespread retailing across the nation.
- E-commerce offers options for flexible packaging for goods like apparel that don’t need rigid boxes for protection. These options include lightweight packaging, energy savings from reduced package production energy, the ability to customize it for various products, a smaller pack size, and ease of storage and disposal compared to rigid packaging.
A wide range of industries and products are served by the diverse Indian packaging industry. Due to businesses establishing their manufacturing facilities in the nation and using these domestic facilities as a base to export to other nations, the government has encouraged the Make in India policy, which has helped the packaging industry grow quickly. In order to make India a major global manufacturing hub, the government has put in place plans to reduce tax rates for new manufacturing companies. The government also intends to further level the playing field among players by launching a number of initiatives with the goal of promoting the development of packaging and technological advancements given the need for domestic businesses to compete with MNCs
What lies in the future ahead of Offset Printer?
So what lies ahead of the printing sector of India is bright future but a bit challenging as well.. The industry is expanding as a result of the rising demand for printed materials in various industries, including publishing, packaging, and advertising. The demand for packaging materials like cartons, labels, and wrappers is likely to rise from a variety of industries, including food, consumer goods, pharmaceuticals and the packaging industry.
The demand for printed materials has decreased recently as a result of the rise of digital media, but it is anticipated that the sector will continue to expand its product and service offerings and invest in new technologies to adapt to changing market conditions. It is anticipated that the commercial printing sector will switch to digital printing because it is a quicker and more economical printing option.
In order to increase industry competitiveness and give the Indian workforce opportunities for training and skill development, the government has also put into place a number of initiatives to support the commercial printing sector in India, such as Make In India.
Overall, India’s printing industry appears to have a bright future and is anticipated to grow even further. By funding new technologies, providing a wider range of goods and services, and taking advantage of government initiatives, the industry is anticipated to adapt to changing market conditions.
About CDC Printers.
With state-of-the-art machinery and immaculate infrastructure, we at CDC Printers take it upon ourselves to provide the best output for all your print requirements. We are a team of passionate people who like to create lasting impressions.
We have a 24×7 work environment and over 1,00,000 sq. ft. working area spread over 2 units. Our foremost priority to quality and finish has earned us over 90 national awards for excellence in printing. You can count on us as your reliable print partner at every step.
Click here to know more about us: