Variable Data Printing Market Set for 12.9% CAGR Growth by 2030

The variable data printing market was US$ 10.5 billion. The market for variable data printing is anticipated to reach US$ 31.2 Billion by 2030, expanding at a 12.9% CAGR from 2022 to 2030.

The market for variable data printing (VDP) is being driven by the growth of the retail sector and rising costs for labelling and tagging all products. According to Future Market Insights, the healthcare and food and beverage industries will continue to play a significant role in the expanding use of variable data printing as consumers demand clear, comprehensive labelling.

Since end customers frequently want flexibility when printing labels, the market’s product labelling segment is expected to grow dramatically during the time of forecasting. Variable data printing is a popular option since it allows for the customization of artwork, data, and content without impairing the bulk printing process. The market for printing with variable data is expected to grow at a CAGR of 12% from 2020 to 2030.

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Key Takeaways from the Variable Data Printing Market Report:

North America is expected to hold a significant share in the global variable data printing market as the adoption of RFID labels and creative labelling increases

Accelerated adoption of variable data printing in the food & beverage industry will propel the growth of variable data printing by 13% during the forecast period

Barcodes and QR code printing are expected to hold a significant share of 36% during the forecast period in the globally market as digital wallets become the new normal for making payments

Retail and CPG segment will exhibit a CAGR of 18.5% between 2020 and 2030 in the South Asia & Pacific variable data printing market creating potential growth opportunities for vendors.

COVID-19 Pandemic Impact Analysis:
With the supply of only essential goods and restricted movement, the lockdown has had a massive impact on the global printing industry, bringing it to a near-standstill. Only a handful of companies have been able to continue operations with 20-25% staff, slowing operations and creating uncertainty in business.

While manufacturing companies have been allowed to run at 50 per cent capacity, most label printing companies are running at as low as 15-20% production capacity. In the past 5 years, the market for variable data printing has grown by almost 10% globally. However, the COVID-19 outbreak is expected to cause a shift in these statistics as demand for non-essential items such as clothing and cosmetics is projected to drop.

On the other hand, analysts project that the demand for variable data printing will remain high in the pharmaceuticals and food & beverages sectors in Q2 2020, a trend that will continue through Q3 and Q4 2020. The indispensable need for products these sectors manufacture, impeccable logistics built by the e-commerce industry to make them available to end users, and smart tracking with RFID labelling could offset the losses the market is expected to suffer.

Leading Key Players:

Leading the variable data printing market are key players such as HP Inc., Canon, Inc., and Xerox Corporation, renowned for their innovative printing technologies. RR Donnelley & Sons Company, 3M Company, and Mondi PLC significantly contribute with their extensive service portfolios. Avery Dennison Corporation and Quad/Graphics, Inc. enhance the market with their advanced labeling and packaging solutions, while Cenveo, Inc. and WS Packaging Group, Inc. are pivotal in providing specialized printing services, reinforcing the industry's growth and adaptability.

Market Drivers:

Increasing Demand for Personalization

In today's competitive market, personalization has become a key differentiator for businesses. Consumers expect tailored experiences, and VDP enables companies to meet these expectations. Personalized marketing materials, such as direct mail, brochures, and catalogs, capture the attention of recipients and create a more meaningful connection. This demand for customization is a primary driver of the VDP market.

Technological Advancements

Advancements in digital printing technology have significantly contributed to the growth of the VDP market. Modern digital printers can handle complex variable data tasks with high speed and accuracy. Innovations such as high-resolution printing, improved color management, and integration with data management systems have made VDP more accessible and cost-effective for businesses of all sizes.

Growing Adoption Across Industries

Various industries, including retail, healthcare, finance, and education, are increasingly adopting VDP to enhance their communication strategies. For instance, in the retail sector, personalized direct mail campaigns can drive customer loyalty and increase sales. In healthcare, customized patient communications improve engagement and compliance. The versatility of VDP applications across different sectors further propels market growth.