The printing industry in India is the biggest and fastest-growing sector along with its allied industries such as Printing Machinery Manufacturers, Packaging, Paper, Ink, and manufacturers of raw materials and consumables. According to the market research report, “The value of the print industry is projected to exceed 250 billion rupees by 2024, indicating a growth driven by growing Indian economy, increasing consumerism, entry of global brands in the country along with rising foreign investments.”
With advancements across the industry, Indian printers of today are now equipped with revolutionary technologies such as computer-controlled printing machines and flow lines for binding along with UV digital printing and inkjet technology which are also on the rise. Moreover, “The global Digital Printing market size is projected to reach USD 27.2 Billion by 2026, growing at a CAGR of 3.8% during the forecast period of 2021-2026.”
The industry is witnessing an increasing demand for premium packaging materials from various end-user industries that manufacture cosmetics, alcoholic drinks, and household products. This, in turn, will propel the growth of the global digital printing market size. Digital Printing results in quicker turnaround time and reduced cost. The use of digital printing helps produce images of higher quality at cheaper costs. Therefore, the need to reduce the cost of printing without compromising the quality of the image is further propelling the demand for digital printing technology.
Source: Market Reports