Flexographic inks are a critical component offlexible packaging owing to their suitability to a wide range of substrate.This versatility also makes them quite popular in the printing universe. One ofthe industries that is set to fuel market on a higher growth trajectory is thepackaging industry.
Considered as one of the most prominent marketing tools, the industry isseeing an upward rise, especially owing to increase in demand from the food andbeverages industry. And, thus one sees growth stories and manufacturinginformation and so much more on packaging today than ever before. The move ismainly aimed at attracting the millennial consumer who is woke and more awareof what he is consuming and demands the same from the product manufacturer.
It is also worth noting here that flexible packaging uses minimummaterial and delivers to the T in terms of protectiveness as it combines thebest of all worlds – plastic, aluminum foil, film and paper. Besides, it cantake the shape of any type of packaging – from pouches to liners and bags,overwraps. As this makes the packaging attractive, the demand for flexographicinks increases in sync.
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Longer workdays and stressful lifestyles are leading people to opt forconvenient dietary habits such as processed and packaged food. The demand isattributable to the fact that not only are these easy-to-eat or read-to-cookbut also have a longer shelf life. This, again is a positive contributor togrowth in the global flexographic inks market.
As per a recent Transparency Market Research report, the global flexographic inks market is set to chart a CAGR (CompoundAnnual Growth Rate) of 4.1% over the forecast period of 2019 - 2026, pullingthe market worth up by a significant value.
Asia Pacific Region to Grow at a Stellar CAGR overthe Forecast Period
Owing to a large consumer base, Asia Pacific (APAC) region is garneringattention from major players in the global flexographic inks market. Besides,as the economies in the region demonstrate an impressive performance,disposable incomes rise, pulling up consumption levels for goods. Besides,while the region was traditionally oriented towards a join-family set up, it isgradually moving towards nuclear families, dual income – where both adults in anuclear family earn their bread and butter, demand for packaged and processedfood is increasing. It is a natural outcome of urbanization and westernization.
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Global Flexographic Inks Market to Remain aFragmented Landscape over the Forecast Period
The market landscape is fragmented owing to numerous players, both smalland large, marking the playfield. This also makes the market quite competitive.Some of the most prominent names flanking the universe include DIC Corporation(Japan), Siegwerk Druckfarben AG & Co. KGaA (Germany), Sakata Inx (Japan),Toyo Ink S.C. Holdings Co. Ltd. (Japan), Flint Group (Luxembourg), and T&KToka (Japan), among others.
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