09.05.22
Kenneth Research has released a thorough market study, “Middle East Printing Inks Market,” for the forecast period 2022.
The Middle East printing inks market is expected to accumulate around $3 billion in revenue by 2031 and to grow with a CAGR of ~ 5% over the forecast period. The demand for packaged goods among the growing urban population can be ascribed to the market’s expansion.
For instance, the proportion of people living in urban areas overall in the Arab region is projected to increase to 58% by 2030, which was close to 55% seven years ago.
Owing to the rise in demand for packaged goods, the COVID-19 pandemic had a favorable effect on the printing ink industry. For instance, prior to the COVID-19 pandemic, the Gulf Corporation Council (GCC) region’s e-retail trade was projected to have a 12 percent penetration rate of offline retail in 2025. After the pandemic, the predicted penetration increased to roughly 17%.
Geographically, the Middle East printing inks market is sectioned into Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), and the rest of the Middle East. Saudi Arabia’s market is anticipated to lead over the forecast period owing to a large number of food and beverage businesses operating there and the growing demand for packaged food products among the country’s working population.
Furthermore, for market expansion, businesses are implementing the latest technology innovations and better infrastructure in the region. For instance, Sun Chemical and Alliance Holding Firm LTD, the parent company of Ink products company, Ltd., completed the establishment of Sun Chemical Saudi Arabia LTD. The joint venture is expecting to produce a wide variety of packaging and publication inks. They are concentrating on the rising demand for flexible packaging inks at their new 55,000 square meter facility.
On the other hand, United Arab Emirates (UAE) is predicted to have significant growth during the forecast period as a result of the rising population. The population of UAE, for instance, climbed from 3 million in 2000 to 9.8 million in 2021.
The Middle East printing inks market is expected to accumulate around $3 billion in revenue by 2031 and to grow with a CAGR of ~ 5% over the forecast period. The demand for packaged goods among the growing urban population can be ascribed to the market’s expansion.
For instance, the proportion of people living in urban areas overall in the Arab region is projected to increase to 58% by 2030, which was close to 55% seven years ago.
Owing to the rise in demand for packaged goods, the COVID-19 pandemic had a favorable effect on the printing ink industry. For instance, prior to the COVID-19 pandemic, the Gulf Corporation Council (GCC) region’s e-retail trade was projected to have a 12 percent penetration rate of offline retail in 2025. After the pandemic, the predicted penetration increased to roughly 17%.
Geographically, the Middle East printing inks market is sectioned into Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), and the rest of the Middle East. Saudi Arabia’s market is anticipated to lead over the forecast period owing to a large number of food and beverage businesses operating there and the growing demand for packaged food products among the country’s working population.
Furthermore, for market expansion, businesses are implementing the latest technology innovations and better infrastructure in the region. For instance, Sun Chemical and Alliance Holding Firm LTD, the parent company of Ink products company, Ltd., completed the establishment of Sun Chemical Saudi Arabia LTD. The joint venture is expecting to produce a wide variety of packaging and publication inks. They are concentrating on the rising demand for flexible packaging inks at their new 55,000 square meter facility.
On the other hand, United Arab Emirates (UAE) is predicted to have significant growth during the forecast period as a result of the rising population. The population of UAE, for instance, climbed from 3 million in 2000 to 9.8 million in 2021.