Over the years, we have seen low migration inks garnering massive prominence due to a number of reasons. The growth of the market has garnered more traction and propelled it into the global level. Market Research Future (MRFR) published a study recently on the global low migration inks market after realizing its potential traction. MRFR states in its report that the market is expected to register a striking CAGR over the forecast period between 2018 and 2030.
The growing demand for label printing coupled with the growing demand for packaged form of food and beverages are expected to drive the low migration inks industry. Development in low migration inks on the basis of services and product quality and the surge in the labelling industry are all key factors deriving the growth of the market. Other factors aiding the growth of the market are favorable government policies and regulations and new and advanced technologies. Moreover, strict regulations of numerous regulatory boards in Europe and North America like the European Printing Ink Association Member of CEPE (EuPIA), European Carton Makers Association (ECMA), the U.S. Food and Drug Administration (FDA), and European Food Standard Agency (EFSA) are expected to also impact the market positively.
However, factors like volatility in prices and the gap between demand and supply in raw materials that are needed for the production of low migration inks can pose to be a market dampening constraint. However, huge investments made for the development of technologies and products by some of the leading manufacturers is expected to support the growth of the market during the assessment period.
The global low migration inks market segmentation is classified into the following types: substrate type, printing process, region, and end-use industries.
By printing process, the market includes digital, flexography, screen printing, gravure, lithographic offset, and others.
By end-user industry, the market segments into cosmetics personal care, food beverage, pharmaceutical, and others.
By region, the market covers North America, Latin America, Asia Pacific, Europe, and the Middle East and Africa.
By substrate type, the market includes flexible paper, corrugated boxes, metals, flexible films, folding cartons, and others.
The regional analysis of the global low migration inks market dives deep into the geographical diversification of the market. The European regions holds the highest market share portion and leads the global regional standings. The region is further expected to grow at a rapid pace and remain the largest low migration inks regional market during the review period between 2018 and 2023. Strict food and packaging regulations by numerous regulatory bodies is one of the essential factors driving the growth of the market during the forecast period.
North America sits behind Europe as the second largest market. The region is expected to showcase considerable growth during the forecast period. Herein, stringent regulation by the US Food and Drug Administration is a key factor that is expected to propel the growth of the market in this region.
The Asia Pacific region is anticipated to showcase rising demand for low migration inks during the forecast period. Fast-paced industrialization due to relaxed investment norms, cheap labor, low raw material cost, and low level of production cost are all expected to drive the demand for the market in end-use industries like cosmetics personal care, pharmaceuticals, and food beverages.
The Middle East Africa is expected to register growing demand towards its side during the forecast period. However, the growth of the regional market would not be able to comparatively match up to the growth of other regions. Strict and discipline regulations in the FB and cosmetics and personal care industry are expected to aid the growth of the low migration inks market in this region.
Finally, the Latin American market is expected to show meagre growth during the forecast period owing to the lack of regional development herein.
Some of the leading companies in the global low migration inks market include INX International Ink Co. (U.S.), Sun Chemical (U.S.), Zeller + Gmelin GmbH Co. KG (Germany), Agfa-Gevaert Group (Belgium), Kao Corporation. (Japan), Wikoff Color Corporation (U.S.), FlintGroup (Luxembourg), Epple Druckfarben AG (Germany), Durst (Italy), Siegwerk Druckfarben AG Co. KGaA (Germany), hubergroup Deutschland GmbH (Germany), HAPA AG (Germany), ALTANA (Germany), Spgprints B.V. (Netherlands), Nazdar (U.S.), and others.
April 2nd, 2019, Sun Chemical, one of the leading producers of inks and pigments in the world, announced the launch of new inks. The all new inks will help the company adhere to the growing demand form the industry. The products are anticipated to give high efficiency and quick result as compared to other inks.
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. MRFR’s approach combines the proprietary information with various data sources to give an extensive understanding to the client about the latest key developments, expected events and also about what action to take based on these aspects.
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