The print industry is poised for significant transformation in 2024, driven by technological advancements and shifting consumer preferences. From the rise of digital printing to the integration of augmented reality, the sector is embracing innovation while maintaining a focus on sustainability and personalisation.
Key Takeaways
- Global printing market value expected to reach £687 billion by 2024
- Packaging printing segment shows robust growth due to e-commerce expansion
- Eco-friendly practices and sustainable solutions are becoming industry standards
- Personalization and smart packaging are revolutionising customer engagement
- AI and automation are streamlining printing processes and boosting efficiency
Market Growth and Technological Advancements
The global printing market is on an upward trajectory, with projections indicating a value increase from £643 billion in 2019 to £687 billion by 2024. This growth represents a Compound Annual Growth Rate (CAGR) of 1.3%. Despite this financial expansion, total print volumes are expected to remain steady at approximately 49.5 trillion A4 prints or equivalents.
A standout segment within the industry is packaging printing, which is experiencing substantial growth. This surge is primarily fuelled by the booming e-commerce sector, which has created an increased demand for packaging solutions. The rise of online shopping has necessitated more efficient and innovative packaging designs, driving advancements in this area.
Digital printing technologies are at the forefront of this industry revolution. Inkjet and wide-format printers are transforming the printing landscape, offering unprecedented flexibility and efficiency. High-speed inkjet printing, in particular, has opened up new possibilities by enabling rapid and efficient printing on a diverse range of substrates.
Sustainability and Eco-Friendly Practices
Sustainability has become a central focus in the printing industry, with a growing emphasis on eco-friendly practices. Companies are increasingly adopting the use of recycled materials and soy-based inks in their production processes. This shift is not only beneficial for the environment but also aligns with consumer preferences for more sustainable products.
Many printing businesses are making concerted efforts to reduce their carbon footprint through sustainable packaging solutions and waste reduction strategies. On-demand printing is gaining popularity as it helps to minimise waste and storage space while enabling rapid customisation. This approach allows for more efficient resource utilisation and responsive production cycles.
Personalization and Smart Packaging
The demand for personalised and customised print products has surged, made possible by advanced digital printing technologies. This trend extends to various sectors, including customised packaging, personalised greeting cards, and tailor-made business materials. The ability to create unique, individualised products at scale is reshaping customer expectations and market offerings.
Smart packaging is another area of significant innovation. The integration of QR codes, Near Field Communication (NFC), and Radio-Frequency Identification (RFID) tags is enhancing customer engagement and providing valuable product information. These technologies also serve a practical purpose in supply chain management, helping to track products efficiently throughout their journey from production to end-user.
Digital Integration and Augmented Reality
Augmented Reality (AR) is bridging the gap between physical print and digital content, creating immersive experiences for users. This technology allows for innovative interactions with printed materials. For instance, customers can now scan brochures to view interactive 3D models or watch related videos, adding a new dimension to traditional print media.
The integration of AR in print is opening up new avenues for marketing and customer engagement. It’s providing businesses with creative ways to showcase their products and services, making printed materials more dynamic and interactive than ever before.
AI, Automation, and Industry 4.0
Artificial Intelligence (AI) and automation are revolutionising the printing industry, streamlining processes from design and prepress to production and finishing. These technologies are significantly increasing efficiency and accuracy while reducing production times. The implementation of Industry 4.0 principles is creating a more interconnected printing ecosystem, advancing data use, and enabling sophisticated automation.
Real-time connectivity is allowing for remote monitoring and optimisation of work processes. Print management software and automation technologies are enhancing overall productivity, leading to more efficient operations and cost-effective production methods.
Future Outlook and Challenges
Looking ahead, the printing industry is set for continued growth, particularly in the packaging segment. The increasing adoption of digital printing technologies and Industry 4.0 practices will likely shape the future of print production. However, balancing sustainability with market demands remains a key challenge for the industry.
Innovation in personalisation and smart packaging technologies will continue to be crucial. As consumer expectations evolve, the industry must adapt to meet these changing demands while maintaining efficiency and quality. The use of FSC-certified paper and other sustainable materials will likely become more prevalent, reflecting the industry’s commitment to environmental responsibility.