Philippines Printing Ink Market size is projected to grow at a CAGR of 5.1% during 2023-2029

Packaging and labelling on the basis of applications accomplished the highest revenue share in Philippines Printing Ink Market – 6Wresearch

Packaging and labelling garnered the major revenue share in the Philippines printing ink market owing to rapidly rising e-commerce sales which is expected to continue to grow and reach $17.56 billion by 2026. The thriving e-commerce sector in the Philippines has been a driving force behind the dominance of packaging and labelling in the printing ink market.

According to 6wresearch, Philippines Printing Ink Market size is projected to grow at a CAGR of 5.1% during 2023-2029. E-commerce is flourishing, with increasing internet user from 75.1 million in 2022 to 85.2 million in 2023 and with an average 47.3 million consumers purchasing goods online in 2022. Additionally, rising online grocery shopping, electronics and others become more and more common due to which need for printed labels for food and beverage goods, electronics goods items and healthcare products increases. With rising popularity of e-commerce sales high-quality printing inks are necessary to transmit important information, brand identity, and marketing messages on printed packaging, which is expected to boost the printing inks market. Shift in consumer behaviour towards the preference for ready-to-eat and packaged foods, are enhancing the demand for printing ink used in packaging and labelling. This trend is anticipated to result in a significant increase in the demand for printing inks in food and beverage sector in the coming years. Rising number of digital viewers of news and other print media content coupled with increasing number of schools adopting blended and online mode of learning is likely to impede growth of printing ink market in the forthcoming years.

According to Vasudha, Senior Research Analyst, 6Wresearch, flexographic segment by technology accounts for major revenue share in Philippines printing ink market as demand for flexographic inks is gaining importance on the account of the growing need for high-speed printing processes. Additionally, the pharmaceutical industry has been continuously expanding, with its value growing from $2.9 billion in 2018 to $3.3 billion in 2020. This growth has propelled higher demand for flexible packaging within this sector, subsequently augmenting the market for flexographic inks in the country.

The Philippines Printing Ink Market (2023-2029) report provides an in-depth analysis with 20 figures and 3 tables, covered in 67 pages. The report comprehensively covers the market by ink type, technology, and applications. The report provides a detailed as well as unbiased analysis of the on-going drivers, opportunities/high growth areas, and trends of the sector which are projected to support the stakeholders to align as well as devise their market strategies as per to the latest and future market dynamics.