Global Flexographic Printing Machine Market Forecast:
The flexographic printing machine market was estimated at USD 870 million in 2022 and is likely to grow at a CAGR of 6.42% during 2023-2028 to reach USD 1268.83 million in 2028.
What is a flexographic printing machine?
The flexographic printing machine uses a flexible relief plate for printing. It is a modern version of letterpress, with high-speed rotary functions that can be used to print on almost any substrate, including metallic films, plastic, cellphone, and paper.
COVID-19 Impact
The spread of Covid-19 positively impacted the market as the pandemic led to growth in the e-commerce industry. Online orders and delivery of food and goods were at an all-time high during the pandemic as people spent more time at home.
Key Players
The following are some of the key players in the Flexographic Printing Machine Market:
- Bobst Group SA
- Comexi
- Edale UK Limited
- Heidelberger Druckmaschinen AG
- Koenig & Bauer AG
- Mark Andy Inc.
- Nilpeter
- OMET
- OMSO
- UTECO
Market Dynamics
The growing demand for printing machines with high versatility and ease of operation, and features offered by flexography such as more flexibility and cost-effectiveness are the prime factors driving the market growth during the forecast period.
Flexographic Printing Machine Market Segmentation:
The report segments based upon demographics, geographics, benefits, and volume, etc, have different driving factors and identifies the most attractive segments and sub-segments.
Flexographic Printing Machine and other resources also allows companies to learn about their target audience so that they can tailor campaigns and increase market share and revenue.
Based on the end-user industry type, the market is segmented as pharmaceutical, food & beverage, cosmetics, consumer electronics, logistics, and print media. Food & beverage is estimated to be the dominant end-use industry in the market owing to the growing consumption of packaged food products. This industry is one of the major consumers of flexible packaging products such as films and pouches, which use flexographic printing machines for printing labels and packaging as these printing machines use quick drying and non-toxic inks, fueling the market growth during the forecast period.
In terms of regions, Asia-Pacific is expected to be the fastest-growing region in the flexographic printing machine market during the forecast period. The major factors such as rapid growth in the e-commerce industry, the growing logistics industry, and the increasing number of initiatives by the government to accelerate the manufacturing industry in the regional market are expected to boost the growth of the flexographic printing machines market over the forecast period. North America and Europe are also likely to offer substantial growth opportunities during the forecast period
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Ritesh Gandecha
Stratview Research
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