Inkjet Printing - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2024 - 2029)

The Inkjet Printing Market size is estimated at USD 108.73 billion in 2024, and is expected to reach USD 154.18 billion by 2029, growing at a CAGR of 7.24% during the forecast period (2024-2029).

Inkjet printing, a technique that sprays minuscule liquid ink droplets onto surfaces like paper, played a pivotal role in the rise of digital printing. This approach yields high-quality images comparable to photographs. Notably, inkjet printing stands out for its cost-effectiveness. It boasts unparalleled versatility and minimal setup expenses, making it ideal for cost-efficient, low-volume, single-copy printing.

Key Highlights

• Inkjet printers offer a significant advantage in efficiently producing short runs and unique products. The surge in online ordering and the use of web-to-print technology is pushing the commercial printing sector forward. With their ability to handle small runs and customized products, Inkjet printers have cemented their pivotal role in this evolving landscape.
• The rapid advancements in Big Data, IoT, and the digitalization of print processing and packaging are key drivers for the inkjet printing market. Integrating Big Data analytics enables more precise and efficient production processes, while IoT connectivity facilitates real-time monitoring and optimization of printing operations.
• Technological proliferation and rising applications in offices and personal spaces are anticipated to increase the demand for inkjet printheads globally. In addition to being used in commercial printing businesses to create high-quality brochures, flyers, and other materials, inkjet printers are typically used in homes and small offices.
• Manufacturers face the challenge of adapting to changing trends and upgrading technologies to remain competitive. While providing upgrades can have a relatively lower impact, replacing entire machines can significantly affect businesses.
• Companies in the inkjet printing sector heavily rely on the paper industry. The paper sector, already feeling the effects of the global economic downturn predicted for 2023, is continuing to face challenges in 2024. Being energy-intensive and cyclical, the paper sector's vulnerabilities are exacerbated by the broader global economic slowdown and a shrinking global demand.

Inkjet Printing Market Trends

Packaging Segment is Expected to Witness Major Growth

• Inkjet printing has become a significant force in the packaging industry due to its versatility and capability for on-demand customization. This printing method excels in variable data printing, enabling personalized packaging, targeted campaigns, and seasonal designs with minimal setup time. Inkjet printing supports efficient short-run production, reducing inventory costs and allowing businesses to print packaging as needed. As it is suitable for responding to dynamic market demands and launching new products, its adoption is growing in packaging.
• Despite its extensive use in packaging, plastic presents challenges for printing. This issue is particularly significant for companies required to imprint traceable codes and essential product data (such as expiration dates) to comply with regulatory and distributor standards. As with any material, choosing the appropriate printer and ink is crucial for effective plastic marking. In industrial plastic coding, the usage of inkjet printing has increased for its speed, reliability, and versatile ink compatibility.
• Moreover, with the increasing use of cardboard packaging with the rapid growth in online shopping and e-commerce across, the countries are being defined as the new normal; the above organizations are creating unique brand packaging experiences that engage customers through innovative inkjet printing to stay ahead of the competition, further creating demand for inkjet printing.
• According to MOFCOM China, online commerce transactions reached 2.123 trillion USD in China in 2023, showing an almost 12% increase compared to the previous year. The e-commerce sector in China has experienced consistent growth in the past few years. The growing e-commerce sector is a significant market driver.
• Food and beverage manufacturers are facing challenges in printing, including high-speed production lines, increasing demand for variable content, and small-batch productions that complicate online product coding operations. Additionally, condensation on the packaging, often caused by temperature changes during filling, shipping, and the product lifecycle, poses challenges for manufacturers when applying best-by dates, barcodes, and other information directly onto cartons, pouches, bottles, cans, kegs, and other food and beverage packaging.

Asia-Pacific is Expected to Register the Fastest Growth

• The Asia-Pacific region, led by China, India, and several Southeast Asian nations, is experiencing a surge in consumer spending. This increase is driving demand for printed products. The region is witnessing a growing demand for packaging and labels, textbooks, and additional documentation, which highlights the growing role of inkjet printing in the region.
• Technological advancements, especially in digital printing, are transforming the printing industry. Digital printing allows shorter print runs, faster turnarounds, and personalized content. Such features attract SMEs as well as large businesses. Therefore, market players are launching new products, forming strategic partnerships, and expanding their business presence, thereby diversifying their offerings and increasing the inkjet printing market's value in Asia-Pacific.
• The Australian printing industry is increasingly leaning toward automation and efficiency. While some Australian printers have embraced this shift and are investing in automation and software, others have yet to realize the advantages. Certain offset printers are hesitant to adopt digital methods, especially when handling long runs with minimal customization, where offset printing is required. This preference is evident with larger print quantities.
• Japanese manufacturers in the inkjet printing sector are swiftly adopting full-color 3D printing, leaving behind traditional 2D inkjet systems. The new 3D printers employ CMYK coloring, enabling a broad spectrum of shades. These printers use water-soluble support materials, simplifying post-printing processes. These printers exhibit exceptional performance on UV ink, especially in industrial prototyping and production.

Inkjet Printing Industry Overview

The Inkjet Printing Market is highly fragmented due to the presence of a large number of players. Market penetration is growing, with a strong presence of major players in established markets. Considering the homogenous nature of market products, many firms operating are further driven to compete on price, and some of the key players include HP Development Company LP (HP Inc.), Jet Inks Private Limited, Brother Industries Ltd, Xerox Corporation, and Canon Inc.

• May 2024 - Canon and Heidelberger Druckmaschinen AG (HEIDELBERG), leaders in inkjet and sheetfed offset printing technology, revealed their worldwide sales and service collaboration in inkjet printing. The company's combined efforts are aimed at assisting commercial print businesses in transitioning to hybrid offset/digital production in order to adapt to evolving print buyer demands and enhance its capacity to manage shorter print runs and a wider variety of jobs.
• March 2024 - FUJIFILM Corporation unveiled its new innovation, the Jet Press FP790, explicitly designed for the flexible packaging printing market. This water-based digital inkjet press, an extension of the renowned Jet Press series, promises heightened productivity and adaptability for its users. By leveraging the Jet Press FP790, businesses operating in the flexible packaging sector can seamlessly craft diverse packaging solutions, catering to everything from food items to household products, and that too, efficiently, even with smaller order volumes.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support