Variable Data Printing Market size is estimated to cross USD 20 billion by 2030, as per a new research report announced by Global Market Insights Inc.
New marketing trends and concepts such as customized coupons, postcards, and QR cards tailored to specific customers will be a notable factor driving the industry growth. Technological advancements have accelerated product application in industries such as pharmaceutical, textile, retail, electronics, and logistics. The development of innovative digital printing technologies will enable faster and cost-effective solutions using VDP.
Investments in R&D have supported innovations and the development of new digital printing technologies across a wide range of applications. The presence of a fiercely competitive environment and the availability of alternative printing systems featuring next-generation technologies will represent new product developments.
Use of linerless labeling to increase in variable data printing applications
The study shows that the variable data printing market share from the linerless label segment is anticipated to go beyond USD 5 billion by 2030. Owing to increasing focus on sustainability and climate change, industries are more inclined to adopt eco-friendly labeling alternatives to cater to their packaging needs. Unlike traditional label rolls that come with a hard-to-recycle siliconized backing liner, linerless labels contribute less to landfills and disposal costs. These products offer up to 40% more labels per roll and enable end-users to reduce shipping and storage costs.
Growing need across the retail sector to boost variable data printing demand
Retail applications held more than 27% share of the variable data printing market value during 2021.The retail sector heavily relies on packaging labels for supporting product sales and distribution. Rapid industrialization and urbanization along with economic boost in fast-growing countries has fueled the expansion of large retail businesses at a substantial rate. According to the Retail Association of India (RAI), the retail businesses in the country have witnessed a steady rise in sales as over 2021-2022 as compared to the pre-pandemic levels.
Browse key industry insights spread across 230 pages with 305 market data tables & 28 figures & charts from the report, “Variable Data Printing Market Size By Label Type (Release Liner Label, Linerless Label), Application (Food & Beverages, Consumer Durables, Healthcare, Cosmetics & Toiletries, Retail), Components (Variable Data Printing Machine, Variable Data Printing Software, Services), Printing Technology (Inkjet, Electrography, Direct Thermal, Thermal Transfer), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2022–2030” in detail along with the table of contents:
Advancement in software solutions to accelerate variable data printing industry expansion
Variable data printing software segment held more than 25.5% market share during 2021, in terms of component type, and is anticipated to record substantial growth by 2030. Printing software is mostly used by marketers for advertising and direct marketing operations as it enables mass production of content with personalized elements like names and addresses. Rapid digitization across healthcare and cosmetics industries will encourage the development of advanced software solutions to aid different printing activities.
Europe may emerge as a major revenue pocket for VDP companies
Europe variable data printing market size is projected to witness a CAGR of over 9% between 2022-2030. The region is expected to emerge as a lucrative revenue pocket for industry players owing to the rising popularity of VDP systems and growing preference for sophisticated printing technologies. Europe is also home to a vast number of F&B, retail, healthcare, and electronics companies that are incorporating advanced technologies to enhance manufacturing operations. New business expansion activities and investment prospects will offer a lucrative scope for product adoption in the region.
Strategic acquisitions to drive competition n variable data printing market outlook
3M, Xerox Corporation, Avery Dennison Corporation, Canon, Inc., Cenveo Inc., Sony Corporation, HP Inc., RR Donnelley & Sons Company, Quad/Graphics, Inc., and Meadows Publishing Solutions are some of the leading companies in the variable data printing industry. These industry participants are focusing on product development initiatives along with business expansion activities to gain a competitive lead.