The market for low migration ink is expected to grow at a CAGR of greater than 7% globally. Major factor driving the market studied is the significant growth in food and beverage industry and rise in demand for personal care products. On the flip side, high cost of low migration ink compared to conventional inks and the unfavorable conditions arising due to the COVID-19 outbreak is hindering the growth of the market.
- Development of new generation sheetfed UV low migration inks is expected to create new opportunities for the market to grow.
- The food & beverage industry is expected to dominate the end-user segment of global low migration ink market over the period on account of strict regulations laid by authorities and growing awareness of issues related to food packaging.
- Europe region represents the largest market and is also expected to be the fastest-growing market over the forecast period owing to the consumption from countries such as United Kingdom, Germany, and France.
Key Market Trends
Significant Growth in Food and Beverage Industry
- Rapid growth of the food & beverage industry, which is the major application of low migration inks is anticipated to boost the market growth. The food & beverage industry comprises of companies operating in processing raw food materials, packaging, and distribution which includes prepared foods and packaged foods, coupled with alcoholic and non-alcoholic beverages.
- Low migration inks are extensively utilized in the branding and labelling of packaged food items because of its characteristics to restrain the undesired ink from affecting the eatables. The migration can happen either in gaseous or physical state that can affect the safety, odor, appearance, or taste of the food item.
- Several regulations for labeling and packaging of food & beverages need low migration inks over conventional inks. Owing to stringent regulations laid over, the printing manufacturers are now transitioning towards low migration inks. Presence of regulatory policies and compliances and their stringency pertaining to the usage of low migration inks in food & beverages over conventional inks is expected to propel the market growth.
- The key factors for the surge of the food & beverage industry before COVID-19 pandemic includes the increase in the number of on the go buyers and increased adoption of ready to eat food. In addition, steadily increasing population and per capital income and changing lifestyle are other growth enhancing factors of the food & beverage industry.
Europe Region to be the Fastest Growing Market
- Europe is projected to be the fastest market for low migration inks during the period. This growth is attributable to the increasing demand for these inks from the end-user industries like food & beverage, personal care, and pharmaceuticals in this region. Stringent policies and regulations on food & beverages industry is expected to surge the demand for low migration inks in the region.
- A shift in consumer buying preferences towards flexible and lightweight packaging solutions is also expected to drive sturdy demand for low migration inks.
- Furthermore, strict regulations laid down by European Carton Makers Association (ECMA), European Food Standard Agency (EFSA), and European Printing Ink Association Member of CEPE (EuPIA) in the developed regions are expected to boost the demand for low migration inks in the region.
- For instance, Switzerland has a law named as Ordinance of the FDHA on Materials and articles. This states that all raw materials for low migration inks in the food packaging has to be listed and comply in accordance with Specific Migration Limits (SMLs).
- Due to the aforementioned factors, the demand for low migration inks is expected to increase in the region during the forecast period
The Global Low Migration Ink Market is partially consolidated in nature with a few major players dominating a significant portion of the market. Some of the major companies are Sun Chemical, Flint Group, hubergroup Deutschland GmbH, Siegwerk Druckfarben AG & Co. KGaA and INX International Ink Co. and among others.
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Table of Contents
1.2 Scope of the Study
4.1.1 Significant Growth in Food and Beverage Industry
4.1.2 Rise in Demand for Personal Care Products
4.2.1 High Cost Compared to Conventional Inks
4.2.2 Unfavorable Conditions Arising Due to COVID-19 Outbreak
4.3 Industry Value Chain Analysis
4.4 Porters Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Degree of Competition
5.2 End-user Industry
5.2.1 Personal Care
5.2.3 Food and Beverage
18.104.22.168 South Korea
22.214.171.124 Rest of Asia-Pacific
5.3.2 North America
126.96.36.199 United States
188.8.131.52 United Kingdom
184.108.40.206 Rest of Europe
5.3.4 South America
220.127.116.11 Rest of South America
5.3.5 Middle-East and Africa
18.104.22.168 Saudi Arabia
22.214.171.124 South Africa
126.96.36.199 Rest of Middle-East and Africa
6.2 Market Share (%) /Ranking Analysis**
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 Agfa-Gevaert Group
6.4.3 Encres Dubuit
6.4.4 Epple Druckfarben AG
6.4.5 Flint Group
6.4.6 FUJIFILM Corporation
6.4.7 HAPA AG
6.4.8 HP Development Company, L.P.
6.4.9 hubergroup Deutschland GmbH
6.4.10 INX International Ink Co.
6.4.11 Kao Collins Corporation
6.4.12 Marabu GmbH & Co. KG.
6.4.13 MHM Holding GmbH
6.4.14 RUCO Druckfarben
6.4.15 SEIKO EPSON CORP.
6.4.16 Siegwerk Druckfarben AG & Co. KGaA
6.4.17 SPGPrints B.V.
6.4.18 Sun Chemical
6.4.19 TOYO INK CO., LTD.
6.4.20 Wikoff Color Corporation
7.2 Other Opportunities
A selection of companies mentioned in this report includes:
- Agfa-Gevaert Group
- Encres Dubuit
- Epple Druckfarben AG
- Flint Group
- 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
- RUCO Druckfarben
- SEIKO EPSON CORP.
- Siegwerk Druckfarben AG & Co. KGaA
- SPGPrints B.V.
- Sun Chemical
- TOYO INK CO., LTD.
- Wikoff Color Corporation