Global Photo Printing Market Report 2023-2028, Featuring Profiles of Shutterfly, Cimpress, Photobox, Digitalab Circle Graphics, Fujifilm and More
DUBLIN, Nov. 15, 2023 /PRNewswire/ -- The "Global Photo Printing Market: Insights and Forecast (2023-2028)" report has been added to ResearchAndMarkets.com's offering.
One of the major drivers in the photo printing industry is the constant increase in the number of photos taken around the world, particularly with smartphones. Additionally, buyers are increasingly interested in personalized gifting items. This has paved the way for photo products such as photo mugs, photo puzzles, photo clocks, and so on. Furthermore, the insatiable desire for a tangible object would boost the photo printing market because social networks are immaterial, and their emotional impact can be lower than that of a printed photo.
The global photo printing market is projected to reach US$21.67 billion in 2023, growing at a CAGR of 6.14% over the projected period.
By Type: In terms of type, the report offers insights of the global photo printing market into two segments: digital photo printing and film photo printing. The digital photo printing segment held the largest share in the market. Digital printing methods are designed to provide cost-effective, accurate, and short-run color printing within short time frame. The digital printing industry is expected to witness growth during the forecast period, owing to rapid adoption of laser and inkjet printing solution across packaging and paper sector due to flexible and cost-efficient feature.
By Product: The report further provides the segmentation of the market on the basis of product: photo books, photo prints, photo albums, mugs, calendars, photo gifts, wall art, gift cards and others. The photo books held the highest share in the market, followed by photo prints. The demand for photo books is driven by various factors such as increase in the use of mobile devices for creating and ordering photo books. Additionally, there has been a rise in the popularity of personalized and custom photo books, as well as an increase in the use of advanced printing techniques such as lay-flat binding and foil stamping.
Top Impacting Factors
Driver: Increasing Number Of Photos Taken
In the age of digital photos, people prefer to keep snapshots of their memories. Everyone with a phone effectively has a camera within reach, and photo enthusiasts have DSLR's or better. On top of that people have plenty of other image-capturing devices - drones, tablets, GoPros, and webcams. The proliferation of these devices is driving the photo printing market. People usually get a snapshot of their memories for special occasions such as wedding and graduation. Besides, with polaroid being a popular among youth, the number of photos taken is expected to flourish, thereby boosting the overall global photo printing market.
Challenge: High Cost Of Dye-sub Printing
Counterfeit products are fake or unauthorized replicas of the real product. Counterfeit products are often produced with the intent to take advantage of the superior value of the imitated product. In home textile market, many products such as Bedding Set, Kitchen Accessories, Bathroom Accessories, Table sets, Rugs and Matts, Curtains etc. of major manufacturing companies can be copied and presented to the customers. These counterfeit products are made of low quality components, in an attempt to sell a cheap imitation of similar goods produced by brands consumers know and trust. Thus, home textile market faces a threat of having counterfeit products of big manufacturing companies in the market.
Trend: Growing Focus On Photo Printing Kiosk
Growing focus of manufacturers on photo printing kiosk can present lucrative growth opportunities. A photo kiosk is an interactive kiosk found in many drugstores, discount stores, and grocery stores. Photo kiosks have a number of different features, but most offer the convenience of submitting photos to be printed, or for resizing or enlarging photos. Many manufacturers are focused on introducing photo printing kiosks with improved connectivity features. These kiosks are fast and inexpensive, providing a convenient access point for users to print documents, often for free, or for a very small fee. The self-service aspects help keep customers moving instead of waiting in line for personal assistance. For instance, in March 2012, Fujifilm Group introduced SmartPix photo kiosks with NFC (Near-field communication) capabilities that enable customers to print digital photos instantly. This product was introduced primarily for the market in the U.K. and was launched across supermarkets, pharmacies, camera shops, and other retail outlets.
Analysis of Key Players
Mobile-to-print companies have been able to outpace the market growth rate over the past few years (high single-digit or double-digit growth), while website players have suffered (low single-digit growth).
The key players in the global photo printing market are:
For more information about this report visit https://www.researchandmarkets.com/r/lmmvzj
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