Global Photo Printing Market (by Type, Product, & Region): Insights and Forecast with Potential Impact of COVID-19 (2023-2028)

Global Photo Printing Market (by Type, Product, & Region): Insights and Forecast with Potential Impact of COVID-19 (2023-2028)

Market Insight:

Photo (Photographic) printing refers to the process of reproducing a finished photo on either paper or other media for viewing. Photo printing employs various techniques to transfer photos to paper, which is typically inkjet or thermoplastic.

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.

Segment Covered:

• 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.

Geographic Coverage:

According to this report, the global photo printing market can be divided into four regions namely Asia Pacific, North America, Europe, Latin America and Middle East & Africa. The countries covered in North America region are the US, Mexico, and Canada, while Europe includes UK, Germany, France, Italy, Spain and Rest of Europe. Moreover, China, Japan, India, South Korea and Rest of Asia Pacific are included in the Asia Pacific region.

North America dominated the market, owing to the factors such as growing adoption of photo printing products and services, and increasing inclination towards variable data print and customization. The development of advanced technology in photo printing and the availability of instant printing is also positively impacting the growth of the photo printing market. Innovative printing technologies and increasing demand for printing in packaging are expected to fuel the growth of the photo printing market in the region. Furthermore, European countries such as Germany, Italy , France, and the UK are experiencing high growth in the photo printing market owing to increasing investments and developments in printing technologies. Germany is dominating the market in Europe region due to rising growth in population that utilizes photo printing for printing of invitation cards and photo books in various occasions.

Top Impacting Factors:

Growth Drivers

• Increasing Number Of Photos Taken
• Shift Towards The Mobile-to-print Channel
• Expanding Personalized Gift Market
• Growing Demand For 3D Images

Challenges

• High Cost Of Dye-sub Printing
• Declining Roll Film Market

Trends

• Proliferation of Social Media
• Growing Focus On Photo Printing Kiosk
• Increasing Emphasis Of E-commerce Companies On Online Photo Printing Services
• AI Based Photo Books
• 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

Low quality and high cost of dye-sub printing is expected to hinder the global photo printing and merchandise market growth over the forecast period. Dye sublimation photo printers adopt thermal printing technique, in order to diffuse dye onto the paper and used for high quality and instant photos. These devices and photo printing services are comparatively expensive than conventional inkjet printers and thus are primarily used for photo printing. Furthermore, inkjet printers offer poor print quality, which in turn, is expected to hinder the market growth over the forecast period.

• 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.

The COVID-19 Analysis:

The sudden global lockdown due to COVID 19 in the first quarter of 2020 caused irreparable losses for many printing companies. The printing sector did not grew smoothly throughout the quarantine, as this growth was unevenly distributed. Some companies printed more than usual, while others ceased to order print at all. In light of the quarantine, many companies switched to home offices, which further accelerated the trend toward going paperless from a business perspective (there were significantly fewer orders for envelopes, business cards, letterheads, binders, etc.). Since people had to stay home, they looked for distractions and spent money online.

Analysis of Key Players:

Photo printing market is fragmented market. 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:

• Walmart Inc. (Walmart Photo)
• Shutterfly, LLC
• Digitalab
• Fujifilm Corporation
• Circle Graphics, Inc.
• Cimpress plc
• Photobox
• Printique (Adorama)
• Picanova Group
• Cewe, Claranova S.E.
• Moonpig Group plc

The web-to-print market is quite mature and concentrated already, with just a few players dominating the industry (Cimpress with Vistaprint, Shutterfly, CEWE and Photobox), While the mobile-to-print market is less mature and more fragmented with recent new entrants such as PlanetArt. This segment is expected to continue to fuel the sector growth in the years to come, surfing on increasing smartphone adoption and easy-to-use applications