Newer avenues for growth!

The beauty of printing and packaging industry is that it has the ability to respond to changing needs of the customers. Though printers are facing stiff competition and shrinking print runs, but the overall volume of business is increasing. There are new and innovative applications to cater to. Print service providers who are better equipped with technology are the front runners in this changing market scenario.

Packaging is, of course, the most growing segment, specially in developing countries like India, where the growth varies between 20-25% p.a. According to a study by Assocham-EY,

India’s packaging industry is expected to witness an outstanding growth during 2016-21, and anticipated to reach USD 72.6 billion by FY20.

Digital printing has changed the way labels were made. Smart labels can not only help secure and trace items throughout the supply chains, they can also provide tamper evidence. Such labels can be easily printed with digital printing and this will bring a next level of growth in the industry.

Another technology worth mentioning in packaging is offset packaging, which is also growing rapidly, especially in flexible packaging segment. It offers superior image quality and cost efficiency for large-volume print runs.

Other areas of growth which can transform the printing industry are home decor and textiles. While, screenprinting used to be favoured technology for printing in these segments, the market for digital printing is also growing rapidly due to obvious reasons of quick turnaround and cost efficiency. Textile printing is projected to grow more than 30% worldwide. Direct-to-garment (DTG) printing machines are becoming quite popular.

Home decor is something which is really personal and different for each person. Digital printing for home decor does exactly that! Digital printing on walls,

fabrics and furniture are changing the way interiors are. Every home can be

unique with personalised designs. There is a huge market in this segment.

All these applications will give a boost to the printing and packaging industry!

Happy printing!

Sonal Khurana
sonal@smediagroup.in