November 2023

The Future of Global Printing to 2028

Print markets are changing in mix of output, with labels and packaging increasing share. The latest flagship report from Smithers – The Future of Global Printing to 2028 – discusses the key consumer, technology, and commercial dynamics shaping the evolution of the print industry across the next five years.

It looks at the ways in which businesses can adapt to develop new revenue streams in an era of falling print runs and accelerating technical change.

The print industry has been evolving at a rapid pace, driven by advancements in technology, changing consumer demands, and the focus on sustainability.

Exclusive data modelling in the new Smithers report - The Future of Global Printing to 2028 - shows that in 2023, the global value of all print and printed packaging will reach $889.4 billion. Smithers expert forecasting shows that the growth trajectory will continue at a 4.2% compound annual growth rate (CAGR), reaching $1.16 trillion in 2028, at constant pricing.

A key trend is the increasing adoption of automation in the print industry, with print providers focusing on more robust and responsive supply chains. Automation in administration and selling processes has seen significant growth, improving efficiency and reducing costs in print production.

Inkjet is forecast to increase at the highest rate in value terms, with a CAGR of 9.7% over the next five years, the study shows. With advancements in quality and cost-effectiveness, inkjet printing is gaining market share across a wide range of applications. Digital print offers sustainability, logistics efficiency, and cost benefits to businesses.    

While digital printing has made remarkable strides, traditional analogue printing methods are also adapting to the changing landscape. Automation is being leveraged to address staffing challenges and improve efficiency in analogue printing processes.

According to the report, the digital transformation in print manufacturing has accelerated in recent years, with a focus on sustainability. The ability to produce smaller print runs at a lower cost has led to a significant reduction in unused print.

Report author, Dr Sean Smyth, Smithers Print Consultant, describes how this transformation is driving change in the industry:

'It's not just the price of the print job and the delivery date, it's also the carbon balance. As technology develops, we're seeing workflows enabling manufacturing to be conducted in multiple locations at the same time to minimise the end delivery impact. Technology offers solutions that can reduce unused print, enabling print providers to give low unit costs on relatively small runs.'

The development of more sustainable print workflows aligns with the growing demand from brands and consumers for environmentally responsible solutions. Print companies will need to integrate sustainability into their strategies to stay competitive in the evolving market.

The Future of Global Printing to 2028 contains authoritative historic, current and future market forecasts for the print industry. The market is segmented by:

• Print process
• End use application
• Eight geographic regions and 23 leading national markets.

This is supported by additional data on print substrate demand, printing plate use, ink consumption and equipment sales; as well as expert analysis of the technical and business trends that will reshape the industry through to 2028.

This expert market study can be purchased now priced $6,750 (€5,970, £5,250). With a 10% discount available until 30 November.

For more information about Smithers, please visit https://www.smithers.com