Apr 23, 2020   SOURCE: PR NewsWire

Variable Data Printing Market Size Worth Around US$ 45 bn by 2027

LOS ANGELES, April 23, 2020 /PRNewswire/ -- The global variable data printing market size - US$ 45,000 Mn by 2027 and CAGR of around 16% from 2020 to 2027.

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Variable Data Printing or VDP is a printing process that uses software to modify the output of a digital printing press to personalize each printed piece with specific details from a spreadsheet or database. This is more widely used for addressing, but is more often used to configure graphics, text or the whole marketing message, making it more appropriate to the person receiving it. This targeted approach has proven to be more successful than conventional advertising.

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Asia Pacific has a largest consumer of variable data printing

Asia Pacific hold the maximum market share for variable data printing market and is likely to register a rapid growth rate during forecast period. Presence in the region of developing economies such as China and India is anticipated to grow the variable data printing market during forecast period. The other factors such as growing awareness among the consumer regarding health and safety and informed buying, coupled with the need to show detail information about the product is fueling the growth of Asia Pacific variable data printing market. China is a leading supplier and manufacturer of printing materials and equipment.

Market dynamics

The variable data printing market is propelling the growth due to increasing demand of labels in printing industry. Also, rising the need of coding and labeling of products to maintain the detail information about the stock keeping unit are the factors that are flourishing the market. The advance technology of commercial color printing inkjet is expected to fuel the variable data printing market during forecast period. However, many manufacturers in the market are focusing on the quality of printing at affordable prices. The growth of end- industries such as food & beverages, pharmaceutical and others is a major factor to the drive the demand of variable data printing for labeling. Entry of new players and rising consumers is expected to bosst the market at some extent.

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The global label variable data printing market is witnessing rapid growth as it is capable of producing personalized product details and serialized number printing, combined with cost-effectiveness and time. Customer demand is shifting to high quality products, which fuel the global demand for variable label data printing. Growing digital signage adoption is expected to boost the global variable demand for label data printing. Moreover, the global variable data printing market on labels is estimated to be driving accelerated urbanization and rising customer spending across the globe.

HP Inc. (HP) is a leading competitor in the information equipment market, formerly known as Hewlett- Enterprise (U.S.) has a large market share in the U.S. This company is mainly focusing on its product portfolio by supplying businesses with creative approaches. The company main approach for the strategic benefit is technical advancement. The company has built its role to deliver integrated and comprehensive solutions through its wide product range, service portfolio and technical advancements. The global variable data printing market includes prominent players such as Mondi Plc, WS Packaging Group, Inc., HP Inc., Quad/Graphics Inc., R.R. Donnelley & Sons Company, Xerox Corporation, Cenveo, Inc., Canon Inc., Avery Dennison Corporation, 3M Company, and others.

Recent Developments

    --  In April 2019, Cenveo completes the acquisition of its long-term brands
        to Iconex and collects paper properties
    --  In February 2020, HP Inc.'s merger standoff with Xerox Holdings Corp
    --  In March 2020, Avery Dennison Company announced the completion, subject
        to standard changes, of the purchase of the Smartrac's Transponder
        business at EUR 225 Mn.

Targeted Audience:

    --  Printing equipment manufacturers
    --  Variable data printing companies
    --  Market research and consulting firms
    --  Raw materials producers and suppliers
    --  Commercial R&D institutions
    --  Regulatory bodies
    --  Associations and industry bodies
    --  End users (food & beverages, pharmaceuticals, consumer durables)

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