Smithers Pira picked out printed packaging and labels as a key growth area over the next three years
Research from the organisation places the market’s value at £23.2m by the year 2020, lower than it is at present due to virtual and online media reducing the demand for printed products.
However, the same report states that while digital print is likely to experience growth as the technology becomes increasingly popular amongst print-service-providers, while UK output for printed packaging and labels is set to grow by 2.2 percent each year at constant terms through to 2020.
As UK print service providers become more efficient, using better workflow and automation to minimise make-ready and lower waste, reducing demand for paper and inks”
Speaking in a statement, Smithers Pira says: “More transactions are electronic, reducing demand for physical currency and cheques, while advertising spend is exploring new areas with mobile ever more important. Also there are improvements in demand forecasting: for example, in newspapers and weekly magazines distributors will look at real retail sales data to determine the demand, and set the following week’s production accordingly.
“As UK print service providers become more efficient, using better workflow and automation to minimise make-ready and lower waste, reducing demand for paper and inks. These factors are also leading to declining volumes for many graphics products.
Smithers Pira adds that “packaging as has been shown by the recession that began in 2008 is much more robust to such changes in outlook”.
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