Packaging Tape Printing Market - Forecast(2023 - 2028)

Packaging Tape Printing Market Overview

The Packaging Tape Printing Market size is forecast to reach US$36.2 billion by 2027 after growing at a CAGR of 4.8% from 2022 to 2027. The Packaging Tape Printing is a type of tape that represents the logo or brand as promotion advertising. These tapes have the adhesive strength of synthetic rubber offer resistance to UV radiation. The packaging of printed tapes uses materials such as polyvinyl chloride, polypropylene, polyamide, paper and others that provide aesthetic appeal. The demand for Packaging Tape Printing in food beverage is growing as these tapes provide visibility of the packaged items, thereby creating a drive in the Packaging Tape Printing Market. Furthermore, the rising application of printed packaging tapes across end-use industries such as consumer durables, transportation, personal care and others for promotion marketing will offer major growth in the market during the forecast period.

Packaging Tape Printing Market COVID-19 Impact

The economic slowdown disruptions during the covid-19 pandemic created a major impact on the Packaging Tape Printing Market. Packaging Tape Printing has rising demand in food beverage, personal care, others. The disruption in production, logistics disturbances, disrupted supply chain and other lockdown restrictions led to a major fall in the market. The food beverage sector faced raw material shortages, closure of food outlets, falling demand for out-of-home food items. According to the United States Department of Agriculture (USDA), the food spending totalled USD 1.69 trillion in 2020, showing a fall from USD 1.79 trillion in 2019 in the U.S. The decline in the growth of the food beverage industry has led to a fall in the application of packaging tape printing for packaging, branding, sealing and thereby leading to a fall in demand. Thus, the packaging tape printing experienced a slowdown restricted growth in the covid-19 pandemic.

Report Coverage

The report: “Packaging Tape Printing Market Report – Forecast (2022-2027)” by IndustryARC covers an in-depth analysis of the following segments of the Packaging Tape Printing industry.

Key Takeaways

Figure: Asia Pacific Packaging Tape Printing Market Revenue, 2021-2027 (US$ Billion)

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Packaging Tape Printing Market Segment Analysis – By Material

By material, the polypropylene segment is expected to grow with a CAGR of around 5.0% during the forecast period. The robust growth of polypropylene in the Packaging Tape Printing industry is influenced by its growing demand across various end-use industries owing to its superior features such as moisture barrier, dimensional stability, printing ability, aroma strength and others compared to acrylic-based adhesive tapes. Polypropylene material has emerged as a viable alternative in the packaging converters has growing application across industries, majorly in food beverage. According to the India Brand Equity Foundation (IBEF), the United States Department of Agriculture (USDA), the food related industries contributed USD 1.05 trillion to the GDP of the U.S. in 2020. Thus, superior tape backing features high durability of polypropylene material for packaging tape printing across major industries are boosting the growth in the market. Thus, the Packaging Tape Printing Market will grow rapidly during the forecast period.

Packaging Tape Printing Market Segment Analysis – By End-Use Industry

By end-use industry, the food & beverage segment held the largest Packaging Tape Printing Market share of 35% in 2021. The high demand for packaging tape printing in the food beverage sector is influenced by growing packed food consumption for export import of packed food beverage items across the globe. The application of innovative printing packaging technologies in the food beverage sector is rising owing to packaged product visibility, durability, product appeal enhancement, merchandise, the highlight of the brand through these packaging tape printing options. According to the China Chain Store & Franchise Association, the food beverage sector in China reached USD 595 billion in 2019. Polypropylene, polyethylene, ethylene-vinyl acetate, others are preferred packaging tape material choices in packaging applications of frozen food packaging beverages packaging, others. Thus, with a high demand for packaging tape printing for traceability, visibility, brand highlight in the food beverage sector, the global packaging tape printing industry will grow rapidly during the forecast period. 

Packaging Tape Printing Market Segment Analysis – By Geography

By geography, the Asia Pacific is the fastest-growing region in the Packaging Tape Printing Market is expected to grow with a CAGR of around 4.5% during the forecast period. The growing demand for packaging tape printing in this region is influenced by its rising demand across various industries such as food beverage, transportation, personal care, consumer durables, others. The high demand for packaging tape printing for transportation in automotive, aerospace, marine, others is propelling growth opportunities. According to the China Federation of Logistics Purchasing, the total revenue from the transportation logistics business of the top 50 logistics firm represented a growth of 15.6% in 2020 compared to the previous year. Thus, the global packaging tape printing industry will flourish in the Asia Pacific owing to growth in food beverage packaging trends, consumer goods sector, logistics transportation, others during the forecast period.

Packaging Tape Printing Market Drivers

Rising preference for packaging printed tapes for branding

The demand for packaging tape printing is growing across a variety of applications such as bundling, carton sealing, branding and others. The packaging tapes are used for sealing, logo branding, reinforcing, are lightweight packaging options, thereby having a preference overprinted cartons for brand advertisement marketing. Moreover, the overall cost efficiency in branding promotion through printed tapes compared to large printed cartons is driving the market. For instance, SupplyOne, Inc., the largest supplier of value-added packaging products has acquired A&M Tape & Packaging, serving in printed tape applications in food, healthcare, e-commerce, others in 2021. The superior features of packaging tape printing such as maximum-security bond, moisture barrier, strength, dimensional stability and others are preferred for business branding. Thus, with an increase in the application of packaging tape printing for branding advertising the brand, the global packaging tape printing industry is experiencing major growth opportunities.

Growing application in the food beverage packaging

Packaging tape printing is widely used in the food beverage industry for packaging food boxes, sealing, reinforcing. Digital printing tape is widely used in the food beverage sector owing to its benefits such as cost-effectiveness, recyclability, productivity. Furthermore, the growing consumption of packaged food beverage products across the globe is influencing the high demand for printed tapes for additional security, seal, brand highlight. According to the National Investment Promotion & Facilitation Agency, the FDI inflow in the food processing sector accounted for USD 393.42 million in 2020-21 in India. The preference for packaging tape printing options in the food sector for branding promotion, along with extra security is boosting the demand, thereby offering major growth opportunities in the market.

Packaging Tape Printing Market Challenges

The rise in the prices of raw material

The demand for packaging tape printing is high across various end-use industries. However, the market faces a major challenge due to fluctuations in the prices of raw materials such as polyethylene, polypropylene and others. For instance, Reliance Industries Limited raised the prices of HDPE by USD 39.2 per tonne LLDPE prices by USD 26.13 per tonne. The rise in the prices of raw materials in the packaging tape printing creates an impact on the production trends developments in the market thereby hindering the growth prospects. Thus, with a major increase in the prices of packaging tape printing raw material, the Packaging Tape Printing Market faces major challenges a slowdown.

Packaging Tape Printing Industry Outlook

The global packaging tape printing top 10 companies include:

1. Hewlett-Packard Development Company
2. Xerox Corporation L.P.
3. Canon INC.
4. WS Packaging Group
5. Cenveo, INC.
6. RR Donnelley & Sons
7. Siat SPA
8. Flexcon
9. Quad/Graphics
10.  Packman Packaging Private Limited

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