3D Printed Packaging Market to be Valued at US$1.2 Billion in 2023
The sales of 3D printed packaging are expected to record a compound annual growth rate of 7.8% during the forecast period.
May 12, 2023
The 3D printed packaging market size is projected to be valued at US$1.210 billion in 2023 and is expected to rise to US$2.6 billion by 2033, according to a new report from Future Market Insights. The sales of 3D printed packaging are expected to record a compound annual growth rate of 7.8% during the forecast period.
In the past decade, the use of additive manufacturing in the packaging sector has increased significantly, providing a range of material options, including metal, plastics and even food.
Currently, numerous industrial and commercial 3D printing installations operate as stand-alone units as they are not integrated into the overall manufacturing environment and workflow.
Leadership in the global 3D printing marketplace is expected to remain in North America and Western Europe.
Highly advanced materials, such as biodegradable plastics, nanomaterials, and conductive materials, are projected to emerge in the market.
The trend of hybrid printing combines 3D printing with traditional printing technologies such as screen printing or offset printing is predicted to gain traction in the packaging market.
Mass customization is gaining steam in the 3D printing sector.
North America accounts for 33.34% of the 3D printed packaging market. This is due to the increasing use of 3D printing technology in areas such as automotive, aerospace and defense, healthcare and consumer goods. The region also has a well-established and matured 3D printing sector. Numerous significant businesses are present, making it a research and development hub. There is a growing requirement for sustainable and eco-friendly packaging in numerous markets. Similarly, increasing the need for customized packaging solutions are likely to boost the expansion of the 3D printed packaging market in North America.
The United Kingdom, Germany and France are key countries in Europe contributing to the market's expansion.
Europe is a key market for 3D printed packaging, accounting for a sizable portion of the global market. The increasing implementation of printing technology in numerous end-use industries such as automotive, aerospace and defence, and healthcare is driving market expansion. Existence of well-established 3D printing enterprises, research institutions and government efforts is anticipated to boost market expansion in Europe. Need for personalized and sustainable packaging solutions is also predicted to drive the expansion of the region's 3D printed packaging industry.
Asia Pacificis a fast-growing market, recording a CAGR of 21.63%. China and Japan are the region's two prominent markets, accounting for a sizable portion of revenue. These countries' market growth can be ascribed to strong manufacturing capabilities, technical advancements, and a well-established industrial base.
These insights are based on a report called 3D Printed Packaging Market by Future Market Insights.
Sources: Press materials received from the company and additional information gleaned from the company’s website.
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