New channels of communication like social media and digital media are replacing printed products; hence the decline in commercial printing jobs like newspapers, magazines, books, catalogues, etc. But, packaging is seeing an upswing due to rising demand for packaged products.
Amidst all this, print remains an important part of any brand promotion and marketing tool. Moreover, the digital media is flooded with information and hence the effectiveness of digital advertising sometimes remains questionable, making it all the more important to have complementary print and digital channels.
The Smithers Pira report is out and gives us some interesting and favourable outcomes. In 2016, the printing market across Europe is valued at €159.2 billion, producing the equivalent of some 13.2 trillion A4 prints and consuming just over 68 million tonnes of printing substrates. Of the total printing industry, packaging represented 44.7% of the market by value in 2011; which will rise to 56.6% by 2021.
It is reported that global high-barrier packaging film consumption pegged at 1.86 million tonnes in 2016 and is set to grow during 2016–2021 at an annual rate of 4.6% to 2.33 million tonnes. This is because need for convenience and product safety are driving demand and growth for high-barrier packaging film.
Another important trend that the report mentions is that the global market size value for banknote printing is forecasted to increase from $9.5 billion in 2016 to $11.2 billion in 2021 at a CAGR of 3.3%. Even though countries like India are moving towards digital transactions, banknotes will remain most important way for payment. Besides, technology glitches and digital frauds cannot be undermined. With recent demonetisation in India, the demand for banknote printing has increased significantly in the last few months and this trend will continue to rise if the government plans to do away with old currency notes of smaller denominations as well.
In this backdrop, India’s leading printing & packaging show – Printpack India 2017 – is held from February 4-8, 2017 at India Expo Centre, Greater Noida. The industry is converging at this show and a horde of impressive new launches and live demonstrations are lined up for the show. With so much in store for all industry verticals, both exhibitors and visitors are expecting a very successful show.
With such positive outlook for the industry, it is imperative to say that printing would always remain the sunshine industry for all.