Printing in Canada - Industry Market Research Report

Printing in Canada - Industry Market Research Report

Printing in Canada

The Printing industry in Canada has encountered several challenges over the past decade that have complicated its performance over the five years to 2023, the most significant of which has been rising competition from digital media. As media consumption and ad dollars have moved online, publishers and advertisers, two of the largest industry markets, have reduced their investments in traditional print products. Meanwhile, advances in workflow software and online communication have facilitated easier offshoring of work. Due to this, printers in China, whose access to lower-cost labour permits them to undercut domestic companies on price, have gained market share. There are some bright spots for the industry with growth in consumer spending helping lead to an expansion in demand for consumer packaging, which requires printed products. Performance severely dropped amid the COVID-19 pandemic and the associated restrictions on production. Printing industry revenue has plummeted at a CAGR of 6.2% over the past five years and is expected to total $8.3 billion in 2023, when revenue will fall by an estimated 1.9%. Despite poor revenue performance, profit has increased due to a reduction in wage and purchase costs.

The Printing industry in Canada includes companies that primarily provide commercial printing services including lithographic, gravure, flexographic, letterpress and digital printing services. Printers also provide screen printing on stationery, labels, apparel and textile products. This industry also includes companies that print and bind books and pamphlets without publishing.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.