The inkjet printing industry is in one of its most consequential periods of transformation, with the graphic and packaging market now valued at over $101 billion and output growing at nearly 9.4% CAGR. To make sense of what is driving that growth and where the market is heading, Smithers analyst Jon Harper Smith identifies the forces reshaping the competitive landscape.
By Jon Harper Smith
The inkjet printing industry is in one of its most consequential periods of transformation, with the graphic and packaging market now valued at over $101 billion and output growing at nearly 9.4% CAGR. To make sense of what is driving that growth and where the market is heading, Smithers analyst Jon Harper Smith—author of the newly published report The Future of Inkjet Printing to 2031 and a print industry veteran with more than 40 years of experience—sets out the forces reshaping the competitive landscape.
The numbers alone tell a striking story. The graphic and packaging inkjet market is now valued at over $101 billion, with output growing at nearly 9.4% CAGR. The functional and industrial side is smaller at around $29 billion, but by 2031 the graphic and packaging segment alone is forecast to reach $134 billion.
Several forces are converging to produce that growth. Covid proved to be a more significant catalyst than many appreciate even now, accelerating the shift away from physical print in publication, pushing consumers online, and giving e-commerce an enormous boost. Web-to-print portals took off as people started buying custom printed products from home. Packaging and labels, meanwhile, proved remarkably resilient throughout the disruption because those are essential goods. People still need things wrapped and labelled regardless of what is happening in the world.
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