Packaging Market Grows Despite Pandemic

Covid-19 has hit the UK’s industries hard, and print is no exception – but the packaging print market is expected to continue its growth over the next five years, albeit at a limited rate.

New research from Smithers in its latest market report, The Future of Package Printing to 2025, shows that the total value for the industry is expected to rise slightly to £325.5bn in 2020.

The market will continue to expand at a compound annual growth rate (CAGR) of 2.6%, says the report.

Packaging became “the most lucrative print segment” in the 2010s, according to the report, with “increasing focus for OEMs, consumables, and substrate suppliers”.

“As in other industries companies in the print and packaging supply chain are responding to the coronavirus crisis by focusing on liquidity as they prepare to face a severe economic recession of unknown depth and duration,” the report concludes.

Smithers’ full report can be read here.