The global value of flexographic printing in 2024 was US$230.5 billion, and is forecast to increase at a 3.0 per cent compound annual growth rate (CAGR) through to 2029, according to research firm Smithers.

Data from its newly published market report – The Future of Flexographic Printing Markets to 2029– show this will yield total value of US$267.2 billion in 2029 (at constant 2023 pricing).

It said flexo output is growing across most applications – notably packaging. It accounts for the overwhelming volume of corrugated board printed. Growth in this segment is forecast to continue; driven by economic demand, particularly from e-commerce and consumer-facing boxes. 

Flexible packaging, labels, and folding cartons will also see solid growth, states the report. Changes in print buying will make digital more competitive with flexo on shorter runs.

Digital printing is well established in labels as a mainstream technology that is competitive with flexo; however, the widespread adoption and strong ongoing sales of hybrid presses mean that flexo volumes are holding up and will continue to grow.

In contrast, the report also identified flexo printing of newspapers, bags and sacks, and envelopes will decline as demand in these end-uses falls.  

In addition, worldwide, output on flexo presses was 8.6 trillion A4 sheets in 2024. This will increase to 10.0 trillion in 2029.

The three largest regions identified for flexo printing are Asia, North America and Western Europe. Combined, these account for 81.0 per cent of global volume and 83.1 per cent of the value in 2024.

Asia is forecast to experience strong growth at a 5.8 per cent CAGR by volume for 2024-2029, with India the fastest growing national market. Smithers said North America and Western Europe are mature regions for flexo print, and will grow more moderately – 2.3 per cent CAGR and 1.7 per cent CAGR, respectively – across the same period. 

The Smithers report segments the flexo print market by end-use application, geographic region, and key national market; and includes data on installed base and future equipment sales by flexo press format, and consumables (plates and inks).

Its market forecasting is contextualised by analysis of the leading commercial and technology developments, trends in packaging consumption, and increased competition from inkjet systems.