Banknote Market Size 2025-2029
The banknote market size is forecast to increase by USD 2.19 billion, at a CAGR of 4.9% between 2024 and 2029.
- The market is experiencing significant growth due to the rising financial inclusion efforts and increasing numbers of countries outsourcing their currency printing. The drive towards financial inclusion is expanding the market as more individuals gain access to formal financial services, necessitating the use of physical currency. Moreover, the trend of countries outsourcing currency printing to specialized entities is fueling market growth, as these organizations possess advanced technology and expertise, enabling the production of high-quality banknotes. However, the market faces challenges, including the increasing use of cryptocurrencies. As digital currencies gain popularity, they pose a potential threat to traditional paper currencies.
- Additionally, the production of counterfeit banknotes continues to be a significant challenge, requiring ongoing efforts from market participants to develop advanced security features and countermeasures. Companies seeking to capitalize on market opportunities should focus on innovating security features and providing cost-effective solutions for currency production. Meanwhile, navigating the challenge of cryptocurrencies may involve exploring partnerships or offerings that complement rather than compete with digital currencies.
What will be the Size of the Banknote Market during the forecast period?

Explore in-depth regional segment analysis with market size data - historical 2019-2023 and forecasts 2025-2029 - in the full report.
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1 Executive Summary
- 1.1 Market overview
- Executive Summary - Chart on Market Overview
- Executive Summary - Data Table on Market Overview
- Executive Summary - Chart on Global Market Characteristics
- Executive Summary - Chart on Market by Geography
- Executive Summary - Chart on Market Segmentation by Type
- Executive Summary - Chart on Market Segmentation by Application
- Executive Summary - Chart on Incremental Growth
- Executive Summary - Data Table on Incremental Growth
- Executive Summary - Chart on Company Market Positioning
2 Technavio Analysis
- 2.1 Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
- Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
- 2.2 Criticality of inputs and Factors of differentiation
- Overview on criticality of inputs and factors of differentiation
- 2.3 Factors of disruption
- Overview on factors of disruption
- 2.4 Impact of drivers and challenges
- Impact of drivers and challenges in 2024 and 2029
3 Market Landscape
- 3.1 Market ecosystem
- Parent Market
- Data Table on - Parent Market
- 3.2 Market characteristics
- Market characteristics analysis
4 Market Sizing
- 4.1 Market definition
- Offerings of companies included in the market definition
- 4.2 Market segment analysis
- 4.4 Market outlook: Forecast for 2024-2029
- Chart on Global - Market size and forecast 2024-2029 ($ million)
- Data Table on Global - Market size and forecast 2024-2029 ($ million)
- Chart on Global Market: Year-over-year growth 2024-2029 (%)
- Data Table on Global Market: Year-over-year growth 2024-2029 (%)
5 Historic Market Size
- 5.1 Global Banknote Market 2019 - 2023
- Historic Market Size - Data Table on Global Banknote Market 2019 - 2023 ($ million)
- 5.2 Type segment analysis 2019 - 2023
- Historic Market Size - Type Segment 2019 - 2023 ($ million)
- 5.3 Application segment analysis 2019 - 2023
- Historic Market Size - Application Segment 2019 - 2023 ($ million)
- 5.4 Geography segment analysis 2019 - 2023
- Historic Market Size - Geography Segment 2019 - 2023 ($ million)
- 5.5 Country segment analysis 2019 - 2023
- Historic Market Size - Country Segment 2019 - 2023 ($ million)
6 Qualitative Analysis
- 6.1 Impact of AI on global banknote market
7 Five Forces Analysis
- 7.1 Five forces summary
- Five forces analysis - Comparison between 2024 and 2029
- 7.2 Bargaining power of buyers
- Bargaining power of buyers - Impact of key factors 2024 and 2029
- 7.3 Bargaining power of suppliers
- Bargaining power of suppliers - Impact of key factors in 2024 and 2029
- 7.4 Threat of new entrants
- Threat of new entrants - Impact of key factors in 2024 and 2029
- 7.5 Threat of substitutes
- Threat of substitutes - Impact of key factors in 2024 and 2029
- 7.6 Threat of rivalry
- Threat of rivalry - Impact of key factors in 2024 and 2029
- 7.7 Market condition
- Chart on Market condition - Five forces 2024 and 2029
8 Market Segmentation by Type
- 8.1 Market segments
- Chart on Type - Market share 2024-2029 (%)
- Data Table on Type - Market share 2024-2029 (%)
- 8.2 Comparison by Type
- Chart on Comparison by Type
- Data Table on Comparison by Type
- 8.3 State-owned - Market size and forecast 2024-2029
- Chart on State-owned - Market size and forecast 2024-2029 ($ million)
- Data Table on State-owned - Market size and forecast 2024-2029 ($ million)
- Chart on State-owned - Year-over-year growth 2024-2029 (%)
- Data Table on State-owned - Year-over-year growth 2024-2029 (%)
- 8.4 Commercial - Market size and forecast 2024-2029
- Chart on Commercial - Market size and forecast 2024-2029 ($ million)
- Data Table on Commercial - Market size and forecast 2024-2029 ($ million)
- Chart on Commercial - Year-over-year growth 2024-2029 (%)
- Data Table on Commercial - Year-over-year growth 2024-2029 (%)
- 8.5 Market opportunity by Type
- Market opportunity by Type ($ million)
- Data Table on Market opportunity by Type ($ million)
9 Market Segmentation by Application
- 9.1 Market segments
- Chart on Application - Market share 2024-2029 (%)
- Data Table on Application - Market share 2024-2029 (%)
- 9.2 Comparison by Application
- Chart on Comparison by Application
- Data Table on Comparison by Application
- 9.3 Intaglio printing - Market size and forecast 2024-2029
- Chart on Intaglio printing - Market size and forecast 2024-2029 ($ million)
- Data Table on Intaglio printing - Market size and forecast 2024-2029 ($ million)
- Chart on Intaglio printing - Year-over-year growth 2024-2029 (%)
- Data Table on Intaglio printing - Year-over-year growth 2024-2029 (%)
- 9.4 Offset Printing - Market size and forecast 2024-2029
- Chart on Offset Printing - Market size and forecast 2024-2029 ($ million)
- Data Table on Offset Printing - Market size and forecast 2024-2029 ($ million)
- Chart on Offset Printing - Year-over-year growth 2024-2029 (%)
- Data Table on Offset Printing - Year-over-year growth 2024-2029 (%)
- 9.5 Letterpress Printing - Market size and forecast 2024-2029
- Chart on Letterpress Printing - Market size and forecast 2024-2029 ($ million)
- Data Table on Letterpress Printing - Market size and forecast 2024-2029 ($ million)
- Chart on Letterpress Printing - Year-over-year growth 2024-2029 (%)
- Data Table on Letterpress Printing - Year-over-year growth 2024-2029 (%)
- 9.6 Market opportunity by Application
- Market opportunity by Application ($ million)
- Data Table on Market opportunity by Application ($ million)
10 Customer Landscape
- 10.1 Customer landscape overview
- Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
11 Geographic Landscape
- 11.1 Geographic segmentation
- Chart on Market share by geography 2024-2029 (%)
- Data Table on Market share by geography 2024-2029 (%)
- 11.2 Geographic comparison
- Chart on Geographic comparison
- Data Table on Geographic comparison
- 11.3 APAC - Market size and forecast 2024-2029
- Chart on APAC - Market size and forecast 2024-2029 ($ million)
- Data Table on APAC - Market size and forecast 2024-2029 ($ million)
- Chart on APAC - Year-over-year growth 2024-2029 (%)
- Data Table on APAC - Year-over-year growth 2024-2029 (%)
- 11.4 Middle East and Africa - Market size and forecast 2024-2029
- Chart on Middle East and Africa - Market size and forecast 2024-2029 ($ million)
- Data Table on Middle East and Africa - Market size and forecast 2024-2029 ($ million)
- Chart on Middle East and Africa - Year-over-year growth 2024-2029 (%)
- Data Table on Middle East and Africa - Year-over-year growth 2024-2029 (%)
- 11.5 South America - Market size and forecast 2024-2029
- Chart on South America - Market size and forecast 2024-2029 ($ million)
- Data Table on South America - Market size and forecast 2024-2029 ($ million)
- Chart on South America - Year-over-year growth 2024-2029 (%)
- Data Table on South America - Year-over-year growth 2024-2029 (%)
- 11.6 North America - Market size and forecast 2024-2029
- Chart on North America - Market size and forecast 2024-2029 ($ million)
- Data Table on North America - Market size and forecast 2024-2029 ($ million)
- Chart on North America - Year-over-year growth 2024-2029 (%)
- Data Table on North America - Year-over-year growth 2024-2029 (%)
- 11.7 Europe - Market size and forecast 2024-2029
- Chart on Europe - Market size and forecast 2024-2029 ($ million)
- Data Table on Europe - Market size and forecast 2024-2029 ($ million)
- Chart on Europe - Year-over-year growth 2024-2029 (%)
- Data Table on Europe - Year-over-year growth 2024-2029 (%)
- 11.8 China - Market size and forecast 2024-2029
- Chart on China - Market size and forecast 2024-2029 ($ million)
- Data Table on China - Market size and forecast 2024-2029 ($ million)
- Chart on China - Year-over-year growth 2024-2029 (%)
- Data Table on China - Year-over-year growth 2024-2029 (%)
- 11.9 India - Market size and forecast 2024-2029
- Chart on India - Market size and forecast 2024-2029 ($ million)
- Data Table on India - Market size and forecast 2024-2029 ($ million)
- Chart on India - Year-over-year growth 2024-2029 (%)
- Data Table on India - Year-over-year growth 2024-2029 (%)
- 11.10 Japan - Market size and forecast 2024-2029
- Chart on Japan - Market size and forecast 2024-2029 ($ million)
- Data Table on Japan - Market size and forecast 2024-2029 ($ million)
- Chart on Japan - Year-over-year growth 2024-2029 (%)
- Data Table on Japan - Year-over-year growth 2024-2029 (%)
- 11.11 US - Market size and forecast 2024-2029
- Chart on US - Market size and forecast 2024-2029 ($ million)
- Data Table on US - Market size and forecast 2024-2029 ($ million)
- Chart on US - Year-over-year growth 2024-2029 (%)
- Data Table on US - Year-over-year growth 2024-2029 (%)
- 11.12 Brazil - Market size and forecast 2024-2029
- Chart on Brazil - Market size and forecast 2024-2029 ($ million)
- Data Table on Brazil - Market size and forecast 2024-2029 ($ million)
- Chart on Brazil - Year-over-year growth 2024-2029 (%)
- Data Table on Brazil - Year-over-year growth 2024-2029 (%)
- 11.13 South Africa - Market size and forecast 2024-2029
- Chart on South Africa - Market size and forecast 2024-2029 ($ million)
- Data Table on South Africa - Market size and forecast 2024-2029 ($ million)
- Chart on South Africa - Year-over-year growth 2024-2029 (%)
- Data Table on South Africa - Year-over-year growth 2024-2029 (%)
- 11.14 South Korea - Market size and forecast 2024-2029
- Chart on South Korea - Market size and forecast 2024-2029 ($ million)
- Data Table on South Korea - Market size and forecast 2024-2029 ($ million)
- Chart on South Korea - Year-over-year growth 2024-2029 (%)
- Data Table on South Korea - Year-over-year growth 2024-2029 (%)
- 11.15 Egypt - Market size and forecast 2024-2029
- Chart on Egypt - Market size and forecast 2024-2029 ($ million)
- Data Table on Egypt - Market size and forecast 2024-2029 ($ million)
- Chart on Egypt - Year-over-year growth 2024-2029 (%)
- Data Table on Egypt - Year-over-year growth 2024-2029 (%)
- 11.16 UAE - Market size and forecast 2024-2029
- Chart on UAE - Market size and forecast 2024-2029 ($ million)
- Data Table on UAE - Market size and forecast 2024-2029 ($ million)
- Chart on UAE - Year-over-year growth 2024-2029 (%)
- Data Table on UAE - Year-over-year growth 2024-2029 (%)
- 11.17 UK - Market size and forecast 2024-2029
- Chart on UK - Market size and forecast 2024-2029 ($ million)
- Data Table on UK - Market size and forecast 2024-2029 ($ million)
- Chart on UK - Year-over-year growth 2024-2029 (%)
- Data Table on UK - Year-over-year growth 2024-2029 (%)
- 11.18 Market opportunity by geography
- Market opportunity by geography ($ million)
- Data Tables on Market opportunity by geography ($ million)
12 Drivers, Challenges, and Opportunity/Restraints
- 12.3 Impact of drivers and challenges
- Impact of drivers and challenges in 2024 and 2029
- 12.4 Market opportunities/restraints
13 Competitive Landscape
- 13.2 Competitive Landscape
- Overview on criticality of inputs and factors of differentiation
- 13.3 Landscape disruption
- Overview on factors of disruption
- 13.4 Industry risks
- Impact of key risks on business
14 Competitive Analysis
- 14.2 Company ranking index
- 14.3 Market positioning of companies
- Matrix on companies position and classification
- 14.4 BNB Printing House AD
- BNB Printing House AD - Overview
- BNB Printing House AD - Product / Service
- BNB Printing House AD - Key offerings
- SWOT
- 14.5 Bureau of Engraving and Printing
- Bureau of Engraving and Printing - Overview
- Bureau of Engraving and Printing - Product / Service
- Bureau of Engraving and Printing - Key offerings
- SWOT
- 14.6 CCL Industries Inc.
- CCL Industries Inc. - Overview
- CCL Industries Inc. - Business segments
- CCL Industries Inc. - Key news
- CCL Industries Inc. - Key offerings
- CCL Industries Inc. - Segment focus
- SWOT
- 14.7 Central Engraving and Printing Plant
- Central Engraving and Printing Plant - Overview
- Central Engraving and Printing Plant - Product / Service
- Central Engraving and Printing Plant - Key offerings
- SWOT
- 14.8 China Banknote Printing and Minting Group Co. Ltd.
- China Banknote Printing and Minting Group Co. Ltd. - Overview
- China Banknote Printing and Minting Group Co. Ltd. - Product / Service
- China Banknote Printing and Minting Group Co. Ltd. - Key offerings
- SWOT
- 14.9 Crane Holdings Co.
- Crane Holdings Co. - Overview
- Crane Holdings Co. - Business segments
- Crane Holdings Co. - Key news
- Crane Holdings Co. - Key offerings
- Crane Holdings Co. - Segment focus
- SWOT
- 14.10 De La Rue PLC
- De La Rue PLC - Overview
- De La Rue PLC - Business segments
- De La Rue PLC - Key news
- De La Rue PLC - Key offerings
- De La Rue PLC - Segment focus
- SWOT
- 14.11 FNMT RCM
- FNMT RCM - Overview
- FNMT RCM - Product / Service
- FNMT RCM - Key offerings
- SWOT
- 14.12 Giesecke Devrient GmbH
- Giesecke Devrient GmbH - Overview
- Giesecke Devrient GmbH - Product / Service
- Giesecke Devrient GmbH - Key news
- Giesecke Devrient GmbH - Key offerings
- SWOT
- 14.13 Joint Stock Co. Goznak
- Joint Stock Co. Goznak - Overview
- Joint Stock Co. Goznak - Product / Service
- Joint Stock Co. Goznak - Key offerings
- SWOT
- 14.14 National Printing Bureau
- National Printing Bureau - Overview
- National Printing Bureau - Product / Service
- National Printing Bureau - Key offerings
- SWOT
- 14.15 Orell Fussli AG
- Orell Fussli AG - Overview
- Orell Fussli AG - Business segments
- Orell Fussli AG - Key offerings
- Orell Fussli AG - Segment focus
- SWOT
- 14.16 Reserve Bank of India
- Reserve Bank of India - Overview
- Reserve Bank of India - Product / Service
- Reserve Bank of India - Key offerings
- SWOT
- 14.17 Security Papers Ltd.
- Security Papers Ltd. - Overview
- Security Papers Ltd. - Product / Service
- Security Papers Ltd. - Key offerings
- SWOT
- 14.18 Security Printing and Minting Corp. Of India Ltd.
- Security Printing and Minting Corp. Of India Ltd. - Overview
- Security Printing and Minting Corp. Of India Ltd. - Product / Service
- Security Printing and Minting Corp. Of India Ltd. - Key offerings
- SWOT
15 Appendix
- 15.2 Inclusions and exclusions checklist
- Inclusions checklist
- Exclusions checklist
- 15.3 Currency conversion rates for US$
- Currency conversion rates for US$
- 15.4 Research methodology
- 15.7 Validation techniques employed for market sizing
- Validation techniques employed for market sizing
- 15.9 360 degree market analysis
- 360 degree market analysis
- 15.10 List of abbreviations
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
- Manufacturers and suppliers
- Channel partners
- Industry experts
- Strategic decision makers
Secondary sources
- Industry journals and periodicals
- Government data
- Financial reports of key industry players
- Historical data
- Press releases

DATA ANALYSIS
Data Synthesis
- Collation of data
- Estimation of key figures
- Analysis of derived insights
Data Validation
- Triangulation with data models
- Reference against proprietary databases
- Corroboration with industry experts

REPORT WRITING
Qualitative
- Market drivers
- Market challenges
- Market trends
- Five forces analysis
Quantitative
- Market size and forecast
- Market segmentation
- Geographical insights
- Competitive landscape