Packaging to power expansion in flexo print to 2029

Smithers, the global market intelligence firm specializing in the print and packaging markets, has released The Future of Flexographic Printing Markets to 2029 report. The report forecasts that the value of flexo printing will increase at a 3 percent CAGR through 2029.

According to the report, the global value of flexo printing in 2024 was valued at 230.5 billion USD and is forecast to increase at a 3 percent CAGR to yield a total value of 267.2 billion USD in 2029 (at constant 2023 pricing).

Flexo output is growing across most applications, but notably packaging. Growth in this segment is forecast to continue, driven by economic demand, particularly from e-commerce and consumer-facing boxes.

Flexible packaging, labels and folding cartons will also see solid growth.

Changes in print buying will make digital more competitive with flexo on shorter runs. Digital printing is well established in labels as a mainstream technology that is competitive with flexo; however, the widespread adoption and strong ongoing sales of hybrid presses mean that flexo volumes are holding up and will continue to grow.

In contrast, flexo printing of newspapers, bags, sacks, and envelopes will decline as demand for these end-use products falls.

Worldwide, output on flexo presses was 8.6 trillion A4 sheets in 2024. This will increase to 10.0 trillion in 2029.

The three largest regions for flexo printing are Asia, North America and Western Europe. In 2024, these regions accounted for 81 percent of the global volume and 83.1 percent of the value.

Asia is forecast to experience strong growth at a 5.8 percent CAGR by volume for 2024-2029, with India the fastest-growing national market. North America and Western Europe are mature regions for flexo print and will grow more moderately – 2.3 and 1.7 percent CAGR, respectively—across the same period.

The Smithers report segments the flexo print market by end-use application, geographic region and key national market. It includes data on the installed base, future equipment sales by flexo press format, and consumables (plates and inks). Its market forecasting is contextualized by analysis of the leading commercial and technology developments, trends in packaging consumption, and increased competition from inkjet systems.