Low Migration Inks Market to Grow with a CAGR of 6.38% through 2028
Surge in research and development activities is expected to drive the Global
Low Migration Inks Market growth in the forecast period, 2024-2028.
According to TechSci Research report, “Low
Migration Inks Market – Global Industry Size, Share, Trends, Competition
Forecast & Opportunities, 2028”, the Global Low Migration Inks Market stood
at USD2.45 billion in 2022 and is anticipated to grow with a CAGR of 6.38% in
the forecast period, 2023-2028. The initiatives taken by government based on low
migration inks has led to favorable market conditions for the Global Low
Migration Inks Market. Several factors contribute to the growth of various low migration
inks products. Government bodies worldwide, recognizing the paramount
importance of ensuring the safety of packaged products, have implemented
stringent regulations across various sectors, with a particular focus on food,
beverages, and pharmaceuticals. One such example is the U.S. Food and Drug
Administration (FDA), which has established clear guidelines pertaining to the
use of inks specifically for pharmaceutical packaging. These regulations aim to
safeguard public health by addressing the potential migration of ink components
from packaging into the products themselves.
In response to
these regulations, businesses have been compelled to adopt low migration inks.
These specialized inks are meticulously designed to minimize the risk of ink
components migrating from the packaging into the products, thereby ensuring the
integrity and safety of the packaged goods. By embracing low migration inks,
companies demonstrate their commitment to meeting regulatory requirements and
prioritizing the well-being of their customers. Furthermore, governments
worldwide are diligently working to extend their commitment to public health by
ensuring that small and medium-sized enterprises (SMEs) can also comply with
these stringent regulations. To facilitate this transition, government programs
and financial capital are being allocated specifically to support these
underserved groups. This strategic allocation of resources aims to empower
SMEs, making it easier for them to adopt safer alternatives such as low
migration inks. By doing so, these enterprises can navigate the regulatory
landscape while simultaneously enhancing the safety and quality of their
products.
In summary, the
implementation of stringent regulations and the adoption of low migration inks
serve as pivotal measures to uphold the safety and integrity of packaged
products. Governments, alongside businesses, are working in tandem to ensure
compliance, support SMEs, and foster a culture of safety and innovation within
the packaging industry.
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Low Migration Inks Market”
Research and
development (R&D) initiatives have played a pivotal role in driving
significant improvements in the quality of low migration inks. Through
innovative formulations and cutting-edge technology, these inks have been
enhanced to offer superior performance characteristics. For instance, the
latest advancements have focused on improving their resistance to light, heat,
and moisture, ensuring optimal durability and longevity. These breakthroughs
not only elevate the efficacy of low migration inks but also instill greater
consumer confidence in product safety. With the advent of these advanced
formulations, manufacturers can assure customers that their packaging materials
are not only visually appealing but also comply with stringent regulatory
standards. Moreover, R&D efforts have extended beyond product improvements
to encompass service delivery enhancements as well. For instance, research has
led to the development of advanced printing processes that effectively utilize
low migration inks. This not only streamlines packaging operations but also
boosts overall efficiency and productivity. By continuously investing in
R&D, the industry is actively driving innovation, setting new benchmarks,
and meeting the evolving needs of consumers and businesses alike.
The Global Low
Migration Inks Market is segmented into process, end user, regional
distribution, and company. Based on its end
user, the pharmaceutical segment held the largest share in the market. The
increasing demand for biodegradable products globally, along with the stringent
regulations regarding environmental impact assessment, has played a pivotal
role in driving the growth of the industry. Manufacturers, in order to comply
with these regulations, have been making significant changes within their
supply chains. Moreover, rising healthcare costs have led to an increased
awareness among consumers regarding product safety. This heightened awareness
has further contributed to the overall growth of the industry, which has been
witnessing steady expansion since its inception several years ago.
Based on region, Asia Pacific segment is expected to
grow during the forecast period. The increasing number of manufacturing facilities in
this region can be attributed to various factors. One key factor is the
presence of numerous manufacturers in China and India, which have been able to
capitalize on the advantages of low labor costs. This has attracted many ink
manufacturers to establish their operations in these countries over the past
few years. As a result, the industry is expected to experience significant
growth over the forecast period, driven by this influx of manufacturers and their
contributions to the overall production capacity. The expansion of
manufacturing facilities in this region not only enhances the availability and
accessibility of ink products but also fosters competition and innovation
within the industry. Consequently, this trend is likely to have a positive
impact on the growth and development of the ink manufacturing sector in the
coming years.
Major companies operating in Global Low Migration Inks
Market are:
- AGFA-Gevaert NV
- Epple Druckfarben AG
- FUJIFILM Corporation
- HAPA AG
- HP Development Company, L.P.
- hubergroup Deutschland GmbH
- INX International Ink Co.
- Kao Collins Corporation
- Marabu GmbH & Co. KG.
- MHM Holding GmbH
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“Growing application of low migration inks in various
end user industries are key drivers of the low migration inks market. Growth in
competitive landscape and presence of well-established companies in the market
who are dedicated to enhance their productivity of low migration inks with
every passing year are anticipated to register an impressive growth to Global
Low Migration Inks Market in the forecast period.,” said Mr. Karan Chechi,
Research Director with TechSci Research, a research-based management consulting
firm.
“Low Migration Inks Market By Process (Flexography
Process, Gravure Process, Offset Process, Digital Process), By End User (Food
& Beverages, Pharmaceutical, Cosmetics & Personal Care, Others), By Region, By Competition Forecast & Opportunities, 2018-2028F”, has evaluated
the future growth potential of Global Low Migration Inks Market and provides
statistics & information on market size, structure and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Low Migration Inks Market.
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