The digital printing industry in India is on a trajectory of significant growth, with an expanding global market size. Technological advancements, changing consumer behaviour, and the development of the packaging and textile industries, are the winds in this sail. Moreover, the reduction in the per-unit cost of printing is expected to play a pivotal role in shaping the industry’s landscape.
The major drivers of growth in the digital printing market include technological advancements, rising consumer demand, and increasing marketing and advertising expenditures. One of the primary catalysts for change in the printing industry has been the increasing demand for personalized and short-run printing. As small and medium enterprises (SMEs) have proliferated and customized marketing collateral has surged, there arose a pressing need for a solution that could efficiently and affordably deliver high-quality prints in small quantities. The rise of SMEs and the growing trend of tailored marketing materials have emerged as a solution to address the challenge of producing top-notch prints in small quantities, while also ensuring speed and cost-effectiveness.
Additionally, advancements in colour management and print quality alleviate doubts from the more discerning consumers, compelling businesses to deliver prints that not only convey information but also captivate the audience visually. The adoption of advanced colour management technologies and printing techniques, ensure accurate colour reproduction and high-resolution prints. Additionally, the demand for personalized and customized prints has surged, prompting businesses to invest in digital printing solutions that offer versatile options for creating unique and visually appealing prints.
The pandemic caused a huge disruption to the digital printing market, as it has hit several industries at once, including – automobile, FMCG, advertising, and electronics, among others. However, on the bright side, the pandemic swung in much needed regulation and standards. The pandemic spiked the demand for flexible packaging, which is considered more hygienic due to limited handling. The unprecedented growth of online and e-commerce during the pandemic resulted in increased job creation in the industry. Digital printing, with its cutting-edge technology, leverages fewer toxic chemicals compared to conventional printing, making it an attractive option for businesses looking to reduce costs. The pandemic has forced businesses to invest in modern technologies and embrace innovative solutions to adapt to the changing market demands.
The printing industry has also experienced increasing costs due to inflation and supply chain disruptions that has toughened winning new business and cash flow management, especially during periods of cost increase. The rapid advancement of digital printing technology requires businesses to invest in new equipment and software to stay competitive, which can be expensive along with the procurement and training cost skilled personnel to operate and maintain advanced technology. Automation can help improve efficiency and reduce human errors, but it also requires significant investment in the right software and hardware.
In tandem with technological evolution, the industry is experiencing a notable surge in environmentally conscious printing practices. The industry is promoting sustainability through the implementation of recycling programs for paper, ink, and other materials, as well as the adoption of digital printing technology, which offers reduced waste, lower emissions, and less energy consumption compared to traditional offset printing. Printing on paper made from alternative fibres such as hemp, bamboo, cotton, or agricultural waste is renewable, biodegradable, and requires less water and pesticides than conventional paper. Similarly, another alternative being commonly adopted is PVC-free media, which includes a variety of recyclable substrates that do not contain any PVC materials. Thus, sustainability is no longer an option but a necessity for businesses in order to meet the growing demand for eco-friendly products and services.
India’s digital printing industry is rapidly advancing, fuelled by technological innovations, shifting consumer preferences, and sectoral growth. The integration of cutting-edge technologies, heightened demand for personalized prints that boosted SMEs pie in the entire market share. Despite challenges, the pursuit of sustainability and eco-friendly practices directs a pivotal shift towards responsible printing, essential for businesses navigating the evolving demands of a conscious market.
