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The commercial printing market is estimated to grow by USD 43.9 billion at a Compound Annual Growth Rate (CAGR) of 2.16% between 2023 and 2028. The market's expansion hinges on multiple factors, including the consistent rise in sales of paperback books, indicative of sustained demand. Furthermore, the global growth in the packaging industry contributes significantly to market expansion, reflecting broader economic trends. The introduction of eco-friendly practices also plays a crucial role, aligning with evolving consumer preferences and regulatory standards. As businesses adapt to these dynamics, embracing sustainability and catering to changing consumer needs become imperative for driving growth and remaining competitive in the market landscape. It involves the production of large quantities of printed materials for various purposes, such as advertising, branding, and promotional campaigns. Businesses rely on commercial printing services to create high-quality, visually appealing marketing materials that capture the attention of their target audience. The market is a significant industry, with advancements in technology leading to innovative printing techniques and materials. For instance, digital printing, large format printing, and 3D printing are transforming the way businesses produce marketing materials. Additionally, the use of sustainable and eco-friendly printing practices is becoming increasingly popular as companies seek to reduce their carbon footprint and appeal to environmentally conscious consumers.
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In the business world, effective marketing is crucial for any organization's success. Businesses require various marketing materials such as brochures, pamphlets, business cards, and more to reach their target audience. The commercial printing industry plays a significant role in providing these materials to businesses. Advancements in technology have led to the evolution of commercial printing. Today, businesses can choose from a wide range of printing techniques, including digital printing and offset printing. These techniques offer different benefits, such as cost-effectiveness, high-quality output, and quick turnaround times. Moreover, the market is diverse and includes various sectors like education, healthcare, retail, and more. Marketers in these sectors require printing services to create marketing materials that resonate with their audience. The use of technology and innovation has made it possible to create personalized and customized marketing materials, making it an essential part of any marketing strategy. In conclusion, it's a vital component of marketing strategies for businesses across various sectors. With advancements in technology and the availability of various printing techniques, commercial printing offers businesses cost-effective, high-quality, and quick solutions to create marketing materials that effectively reach their target audience. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Steady growth in paperback sales is a key driver of growth in the market. After phasing out the growing popularity of e-books, paperbacks have been making a comeback since 2016. For example, physical book sales in the UK increased by 4% in 2016, while e-books fell by 2% in the same year due to rising prices for e-books and subscriptions. Readers have found it viable to purchase physical books at lower prices.
Similarly, U.S. physical book sales increased 3% in 2017, while e-book sales declined. A steady shift from paper books to e-books will have a positive impact on the commercial print market in 2017. Since 2016, the sale of physical books has indicated a growth trajectory, and simultaneously, the eBook market has depicted a decline. This factor will drive the market for commercial printers. This advancement will also pave the way for the return of paperback magazines to digital magazines.
Forward vendor consolidation is a key trend impacting the growth of the market. Vendors in this market are looking forward to consolidating their businesses during the forecast period. Apart from providing print products and services, providers will seek to expand their services into areas such as media services, digital technology, managed services, and logistics.
As per the supply chain, the vendors procure materials (which, at times, will be supplied by the client), print, and post (co-mail) the printed materials. However, vendors such as LSC Communications are looking to expand into the last piece of the supply chain: logistics. With this forward integration, the vendors involved in commercial printing will consolidate into an end-to-end print product and services market. Thus, such strategies will drive market growth and trends during the forecast period.
Overcapacity and price pressure are major obstacles to the growth of the market. The market is highly fragmented and highly competitive. However, the market is challenged by certain conditions. This excess manufacturing capacity has compelled vendors with larger printers, which used to achieve economies of scale and had access to capital markets, to install more efficient equipment (owing to the shift in demand). During the forecast period, these vendors will also focus on taking advantage of consolidating acquisition opportunities to remove excess, inefficient, or underutilized capacity and reduce overall costs. Thus, all these factors will negatively impact the growth of the market during the forecast period.
The market trends and analysis report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the market forecasting report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
ACME printing: The company offers commercial printing, such as digital printing and offset printing.
The market growth and forecasting report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
In the dynamic and competitive industry, effective marketing strategies are essential for success. One key approach is implementing innovative packaging solutions, such as those with manufacturing capabilities and a wide range of technologies. These include digital printing, flexography, gravure, and lithography. Additionally, adding value through services like design, logistics, and distribution can differentiate a business in the market. The use of these technologies can lead to personalized and targeted marketing campaigns, resulting in increased sales and customer loyalty. Furthermore, sustainability is a growing concern in the Commercial Printing sector. Implementing eco-friendly practices, such as using recycled paper and energy-efficient technologies, can attract environmentally-conscious customers and reduce operational costs. In summary, the market thrives on innovation, value-added services, advanced technologies, and sustainability. By focusing on these areas, businesses can stay competitive and meet the evolving needs of their customers.
The market share growth by the print services segment will be significant during the forecast period. The printing services include a wide range of products such as stationery, brochures, books, magazines, labels, envelopes, and flyers. These are part of the company's requirements. It is also an effective tool for attracting and retaining customers and potential customers. Such factors will increase the market growth during the forecast period.
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The print services segment was valued at USD 311.40 billion in 2018. The printing services include different types of printing, such as surface, digital, screen, and gravure printing. Moreover, the key vendors in the market focus on capitalizing on existing customers rather than incurring a cost from the acquisition of new customers. Companies seek to bundle services, mainly printing and distribution services. Such factors will increase the market growth during the forecast period.
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APAC is estimated to contribute 34% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Low literacy rates coupled with government initiatives to promote education impact the region's market. However, government initiatives revolve around providing digital content to students. For example, China is one of the most advanced digital publishing markets. This is due to the fact that China is a huge hub for many e-readers and mobile operators. The market in APAC experiences significant demand from businesses and enterprises in countries like China, India, the Philippines, Vietnam, and Thailand. Advertising materials, such as brochures and pamphlets, are in high demand due to the region's cost-effectiveness. Technological proliferation, including faster presses and superior printing techniques, enhances production capabilities and delivers superior quality. Advertising and marketing tools benefit from cost-effectiveness, efficiency, and bulk printing. The e-commerce industry drives demand for innovative packaging solutions and additive manufacturing. AI-powered design tools streamline the design process. Logistics, warehousing, and retail sectors require hybrid print technologies, such as flexographic printing, for artistic potential in printed materials. Digital media and printed publications coexist in an online medium, catering to book readers and magazine buyers. Green commercial printers prioritize eco-friendly papers and inks for sustainability.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Million" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.
The market caters to enterprises seeking advertising materials like pamphlets and other marketing tools. Technological advancements have led to faster presses and new color & toner technology, enhancing production capabilities and delivering superior quality. Various printing techniques ensure cost-effectiveness and efficiency, especially for bulk printing needs. While digital media has impacted traditional printing, the packaging and labeling demands of the e-commerce industry, drive innovation in packaging solutions.
The market is undergoing significant transformation with the integration of both analog and digital technologies. Print-on-demand services offer customization & personalization options, catering to local or specialized customer needs. However, challenges persist due to the rising cost of input materials such as ink, pigments, and coatings, affecting the profitability of small to medium-sized printing businesses. Despite this, low barriers to entry and the availability of affordable printing equipment contribute to a highly fragmented structure.
Digital technologies, especially in large-format printing and flexible packaging, offer speed and print quality advantages, with features like Quick Response (QR) codes enabling additional data integration for promotional content. The digital printing segment, including inkjet and laser printing solutions, emerges as cost-efficient and adaptable, driven by the Internet of Things (IoT) and high adoption for high-volume batches and static mailings. Conversely, the lithography printing segment maintains its relevance with superior image quality, especially for product advertisements and directories powered by flexographic technology advancements.
Moreover, the adoption of advanced technologies like Artificial Intelligence (AI) and Predictive Analytics can streamline operations and improve customer experience. Additive manufacturing and AI-powered design tools revolutionize warehousing and retail sectors, combining hybrid print technologies with analog and digital methods. Customization and personalization, enabled by digital printing solutions like inkjet and laser, meet consumers' preferences for tailored designs. Eco-friendly practices, including green commercial printers and soy inks, address environmental concerns, particularly in packaging applications for pharmaceuticals, cigarettes, and alcoholic beverages. From print advertisements to newspapers, the market continues to evolve to meet diverse advertising and promotional needs across industries.
Market Scope |
|
Market Report Coverage |
Details |
Page number |
172 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 2.16% |
Market growth 2023-2027 |
USD 43.9 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
2.05 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 34% |
Key countries |
US, China, Japan, Germany, and UK |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
ACME printing, Bertelsmann SE and Co. KGaA, Cenveo Corp., Cimpress Plc, Dai Nippon Printing Co. Ltd., Ennis Inc., Gorham Printing Inc., LSC Communications LLC, O Neil Printing, Print Direction Inc., Print Logistic Sp. z.o.o., Quad Graphics Inc., RR Donnelley and Sons Co., SG360 degree, Taylor Label, The Enfield Printing Co., Toppan Inc., Transcontinental Inc., Vivendi SE, and WestRock Co. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the market forecast period. |
Customization purview |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Service
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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