The global photo printing and merchandise market, currently valued at US$16.9 billion, is expected to grow to approximately US$22 billion over the next decade. This growth is anticipated to be moderate, with a compound annual growth rate (CAGR) of 2.6% from 2018 to 2028. Factors contributing to this growth include the increasing adoption of 3D printing technology and the expanding base of smartphone users and app usage worldwide.
E-commerce businesses focusing on providing online photo printing services and the majority of manufacturers focusing on launching picture printing kiosks with improved connection capabilities are some of the most recent trends in the photo printing and merchandise market. The market picture may be modestly improved by these trends, but the photo printing and merchandising industry is expected to grow slowly overall over the course of the projected period.
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Photo printing currently accounts for a major share of the total market revenue, owing to continued popularity of printed photographs among consumers. However, it is most likely that the photo printing segment will lose its market share to merchandise printing, predominantly attributed to bolstering demand for merchandise printing products such as mugs, pillows, cushions, photo books, and others. By the end of 2028, the revenue contribution through merchandise printing to the global photo printing and merchandise market value is anticipated to reach around 25%. The report projects merchandise segment to witness a steady CAGR of 4.4% over 2018-2028.
Furthermore, digital printing is expected to take over the film printing module, whereas mobile printing mode is foreseen to win a major market share over desktop printing. The market progression in this direct has been attributed to rapid digitalization that has been evidently impacting the industries worldwide, since the past decade. Regional analysis of the global photo printing and merchandise market reveals continued dominance of North America with more than 27% share of the market value. Decent growth prospects have been estimated for the market, in North America and Western Europe.
As indicated by the competition landscape assessment provided in the report, the tier 1 companies currently account for a majority revenue share of around 45%, followed by the share of around 40% contributed by tier 3 companies participating in the global market for photo printing and merchandise. The tier 2 players are responsible for generating nearly 15% share of the total market revenue. Key players are increasingly focusing on the growing demand for merchandise products and innovation in the photo printing technology.
The report highlights a few key developments in the market, including a recent launch of a process-free technology portfolio by the Eastman Kodak Company, which has been named as ‘KODAK SONORA UV Process Free Plate.’ This plate is capable of delivering longer run lengths (up to 30,000 impressions) compared to any other process-free plate, and offers a range of benefits of UV technology, flexibility, high print quality, and faster drying times. With this technology, the company has introduced a range of new applications, delivering more efficient, faster, and more sustainable results.
Expansion of the E-commerce sector pinpoints the growth of developing regions:
North America and Western Europe have been identified to be the key regional markets for photo printing and merchandise over the forecast period. While North America is foreseen to lose its value share, Western Europe is anticipated to encounter with attractive opportunities contributing to its increased market share of over 25% by 2028 end, as estimated by the report.
China and other developing Asian economies, along with South East Asian countries, are presumed to witness significant growth opportunities in the near future. This growth has been primarily attributed to the flourishing e-commerce sector.
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Key Segments Covered
By Mode of Printing
- Desktop
- Mobile
By Module
- Film Printing
- Digital Printing
By Product Type
- Photo Printing
- Merchandise Printing
By Distribution Channel
- Instant Kiosk
- Over the counter
- Retail
- Online
Key Regions covered
- North America
- Latin America
- SEA and other APAC
- China
- Western Europe
- Eastern Europe
- Japan
- Middle East & Africa
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