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The photo printing and merchandise market share is expected to increase by USD 5.35 billion from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 4.94%.
This photo printing and merchandise market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers photo printing and merchandise market segmentation by device (desktop and mobile), distribution channel (online, retail, and kiosk), product (photo only, wall decor, photo cards, photo gifts, and calendars), and geography (North America, Europe, APAC, South America, and MEA). The photo printing and merchandise market report also offers information on several market vendors, including Amazon.com Inc., American Greetings Corp., Card Factory Plc, Cimpress Plc, District Photo Inc., Eastman Kodak Co., Prodigi Group Ltd., Shutterfly Inc., Tesco Plc, and Walmart Inc. among others.
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The rise in gifting culture is notably driving the photo printing and merchandise market growth, although factors such as may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the photo printing and merchandise industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Photo Printing and Merchandise Market Driver
The rise in gifting culture is one of the key drivers fueling the photo printing and merchandise market growth. Gifting is a way of expressing love, appreciation, and joy due to which it has become an integral part of people's lives. Meanwhile, the concept of personalized gifting has gradually evolved, with an increase in the number of millennials being inclined toward personalized gifting (both corporate and personal gifting). The evolution of the gifting culture has led to a rise in the sale of photo printing and merchandise, especially during occasions such as Christmas, New Year, Easter, Halloween, and Hanukkah. On the other hand, the ongoing growth of the gifting culture is resulting in an increase in the demand for personalized photo products. This is likely to fuel the growth of the global photo printing and merchandise market during the forecast period.
Key Photo Printing and Merchandise Market Trend
The growing prominence of print-on-demand services is one of the key photo printing and merchandise market trends supporting the market growth. Primarily, digital printing is widely used for the on-demand printing of products, such as children's books that are customized with photos of children, photo books such as wedding photo books, and others. For instance, in September 2019, Walmart Inc. partnered with Google Photos to offer on-demand, in-store prints from the Google Photos application. Customers can order prints on the application, and the retailer gets the photo directly from Google. The 4x6 inch photo prints that are obtained directly from Google Photos will be available for same-day pick-up at Walmart stores. Thus, the availability of such services is likely to drive the growth of the global photo printing and merchandise market during the forecast period.
Key Photo Printing and Merchandise Market Challenge
The negative effects of digitalization is one of the key factors challenging the photo printing and merchandise market growth. Digitalization has now made it easy to view or share photos instantly from anywhere. For instance, nowadays, smartphones come with very large storage space. It offers convenience to customers for taking pictures and storing them in the internal memory of smartphones. Also, with the advent of social media, people can set their smartphones to upload their products to the Internet, which will preserve the /images even if the camera is destroyed or the /images are deleted. Moreover, storing photos online and sharing them with family and friends can be more affordable than printing out a large number of photos, especially for avid photographers. Such a cost-effective factor may challenge the photo printing and merchandise market growth during the forecast period.
This photo printing and merchandise market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.
Technavio categorizes the global photo printing and merchandise market as a part of the global personal products market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the photo printing and merchandise market during the forecast period.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
This statistical study of the photo printing and merchandise market encompasses successful business strategies deployed by the key vendors. The photo printing and merchandise market is fragmented and the vendors are adopting growth strategies such as developing innovative products for the customers to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The photo printing and merchandise market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the photo printing and merchandise market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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44% of the market’s growth will originate from North America during the forecast period. US and Canada are the key markets for photo printing and merchandise market in North America. Market growth in this region will be faster than the growth of the market in the European regions.
The growth of the gifting culture will facilitate the photo printing and merchandise market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The market in North America was adversely affected in 2020 due to the outbreak of COVID-19. However, in 2021, the initiation of large-scale COVID-19 vaccination drives led to the lifting of lockdowns and the resumption of offline distribution channels and social gatherings, which, in turn, has led to an increase in demand for photo printing and merchandise in retail stores. Thus, such factors are expected to drive the growth of the regional photo printing and merchandise market during the forecast period.
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The photo printing and merchandise market share growth by the desktop segment will be significant during the forecast period. Desktop photo printing is usually used in homes, offices, retail stores, imaging stores, and photo centers. Several large businesses are using desktops for printing services to fulfill the demand for large commercial photo printing. Most of the photo centers will have a countertop photo printing station, such as a minilab, which will help them get photo prints on the spot within an hour. Such wide use of desktops in different sectors will drive the photo printing and merchandise market growth during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the photo printing and merchandise market size and actionable market insights on post COVID-19 impact on each segment.
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Photo Printing and Merchandise Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2020 |
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Forecast period |
2021-2025 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 4.94% |
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Market growth 2021-2025 |
$ 5.35 billion |
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Market structure |
Fragmented |
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YoY growth (%) |
4.02 |
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Regional analysis |
North America, Europe, APAC, South America, and MEA |
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Performing market contribution |
North America at 44% |
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Key consumer countries |
US, Canada, China, Germany, and France |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
Amazon.com Inc., American Greetings Corp., Card Factory Plc, Cimpress Plc, District Photo Inc., Eastman Kodak Co., Prodigi Group Ltd., Shutterfly Inc., Tesco Plc, and Walmart Inc. |
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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 forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Product
6 Market Segmentation by Distribution channel
7 Market Segmentation by Device
8 Customer landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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