Page 8 - PWM2024_November EBook

NEWS KSA

Digital label growth in Saudi Arabia

As the MENA region’s At the same time, the sus- GDP per capita of $32,586,
graphic arts and packaging tainability benefits of digital demonstrating a stable econ-
industries gear up for the printing, including reduced omy and increasing con-
first Gulf Print & Pack exhi- waste and lower energy con-
bition in Saudi Arabia next sumption, have made it an sumer spending power - a
year, a new report demon- attractive option to help meet conducive environment for
strates the astonishing government sustainability business expansion. The
growth potential of the Kingdom’s commitment to
Saudi digital printing mar- targets. adoption of cutting-edge
ket. The report, compiled by The rising number of technologies is reflected in
consultancy Astute internet users, now exceed-
Analytica, predicts that the ing 33 million, further its investment of $6.4 billion
Saudi digital print sector A report says Saudi digital print sector likely to grow in the future emphasizes the potential for in the digital economy and
will generate revenues of digital marketing and print the establishment of over
US$ 766.58 million by sustainability at its core. enterprises (SMEs) have media convergence. 300 tech startups. The
2032, up from US$ 351.33 The Astute Analytica resulted in a 25 percent The extraordinary growth recent hosting of the Global
million in 2023 - a CAGR of report identifies retail, edu- increase in the number of prospects of the digital print-
9.24 percent during the cation, and advertising as businesses utilizing digital ing industry in Saudi Arabia AI Summit in Riyadh under-
forecast period 2024-2032. key drivers of growth. The printing services for brand- are propelled by the Saudi scores the government’s
This surge in demand for retail sector alone has seen a ing and marketing purposes. Vision 2030 initiative, which dedication to integrating
digital printing solutions in 15 percent increase in This rapidly growing mar- artificial intelligence across
Saudi Arabia is largely demand for customized ket demand has already led aims to diversify the econ- industries, offering digital
driven by the Kingdom’s packaging and promotional omy and reduce its depend- printing companies an
ambitious Vision 2030 initi- materials. 40 percent of printing busi- ence on oil.
ative, which aims to diver- The report estimates that nesses in Saudi Arabia to The Saudi economy hit a opportunity to enhance their
sify the economy away from government initiatives to invest in digital printing GDP of $1.747 trillion at the services with AI-driven solu-
oil with a commitment to support small and medium technologies. end of 2023, representing a tions.

Saudi Graphco bullish about the packaging sector in KSA

Label manufacturer Year’s. It is in such situations architects to banks, super-
Kimoha Entrepreneurs pur- that digital printing works markets, retail shops and
chased Saudi Graphco in well and is cost effective.” hotels, and in the AIDC sec-
2019 to expand into the Saudi Graphco has tor.
Saudi Arabia market. The recently expanded its prod- Forecasting vertical
company caters to a range of
sectors including food & uct line to produce self- growth in the Saudi market,
beverages, aviation, retail, adhesive printed labels and Shani emphasized: “We have
cosmetics, energy, lubricant sleeves with several types of increased our inventory and
and electronics, serving cli- embellishments including have purchased flexographic
ents across 40 countries. foil, screen, spot/flood coat- and digital machinery from
The head office and manu- ing and metallic inks. They Durst, Xeikon, Gallus and
facturing base is in Jebel Ali Kimoha Entrepreneurs purchased Saudi Graphco in 2019 are also engaged in the pro- Prati among others. Our
(UAE), and now they have duction of various kinds of turnover is increasing year
their own manufacturing set cialize in both flexo and digi- around, so digital technol- paper rolls and sheets con- on year. Alone Riyadh is five
up in Riyadh. tal printing for labels, we can ogy is perfect for such verted from jumbo rolls, times the size of UAE and the
In an interview with Gulf proudly say that we are pio- requirements. Also, brand
Print & Pack (Saudi Arabia), neers in bringing digital owners are changing designs including thermal paper, size of the entire population
General Manager technology for labels into frequently like different or coated/ uncoated paper, of Saudi Arabia will ensure
Operations, Shani the Saudi market. There is tracing paper and inkjet exponential growth in the
Kizhakkayll explained: increasing demand for enhanced look for events media. These are used by a packaging industry over the
“Though as Kimoha, we spe- shorter runs and faster turn- like Eid or Ramadan or New range of businesses from next five years.”

06 PrintWeek MENA November 2024 www.printweekmena.com