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.
Variable data printing is essentially a form of digital printing which includes tailor-made on-demand printing that uses elements such as text, graphics, and images. These elements can be changed from one printed piece to the next.
The growth of the variable data printing market is primarily driven by the advantages offered by this technology in terms of continuous operation. Moreover, growth in the manufacturing industry and pharmaceutical production is fueling the industry growth. The variable data printing is witnessing elevated demand from the food & beverage industry, owing to the growing focus on brand identity.
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Based on composition, the facestock segment is expected to grow at a CAGR of around 12% throughout the forecast period
Based on composition, the market has been segmented into facestock and topcoat. The facestock composition segment accounts of the largest share in the market and are expected to grow at a CAGR of around 12% during the forecast period.
Based on printing technology, the inkjet printing technology segment is expected to grow at a CAGR of around 18% throughout the forecast period
Based on printing technology, the market has been segmented into thermal transfer, direct thermal, electrophotography, and inkjet. The inkjet printing technology segment led the market and it is anticipated to grow at highest CAGR of around 18% during the forecast period.
Based on end-use industry, the food & beverage segment is expected to dominate during the forecast period
Based on end-use industry, the market has been segmented into food & beverage and healthcare among others. The food & beverage segment accounts of the largest share in the market and held for more than 40% of the total market in 2018. The major factors that are driving the growth of this segment are the rising demand for product differentiation and demand for adding aesthetic appeal to the products in food and beverage industry across developing countries such as India, China, and Malaysia.
Asia-Pacific to dominate the variable data printing market throughout the forecast period
Asia-Pacific accounted for nearly 38% share of the global Variable data printing market in 2018 and is expected to dominate the market throughout the forecast period. The rapid growth in the food & beverage sector in emerging economies such as China and India are one of the major driving factors for the region in the global market. Major players are investing substantially in Asian countries. While Europe is expected to hold the highest CAGR in the global market during the forecast period.
Company Profiles and Competitive Intelligence:
The major players operating in the global Variable data printing market are Avery Dennison (U.S.), HP Inc. (U.S.), 3M Company (US), Xerox Corporation (U.S.), Canon Inc. (Japan), R.R. Donnelley & Sons Company (U.S.), Quad/Graphics Inc. (U.S.), Cenveo, Inc. (U.S.), Mondi Plc. (South Africa), and WS Packaging Group, Inc. (U.S.) among others.
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