The Global Commercial Printing Market was valued at USD 411. 99 billion in 2020, and it is projected to be worth USD 472. 35 billion by 2026, registering a CAGR of 2. 24% during the period 2021 - 2026. The commercial printing market is poised for remarkable growth over the next five years.
New York, Feb. 02, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Commercial Printing Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" - https://www.reportlinker.com/p06020223/?utm_source=GNW
Technological proliferation, along with rising applications, is anticipated to encourage the demand globally. Further, the need for short-run production for a wide range of applications is increasing rapidly for commercially printed materials, such as books, direct mail, brochures, and catalogs. For instance, in direct mail, the conventional practice was to send the exact same message to many customers. It is expected that 72% of corporations utilize direct mail campaigns. Direct mail campaigns are relatively inexpensive and are a great way for companies to keep their image and services in the public eye. This aspect of printing is expected to continue an upward trend in the future.
- Increased demand for promotional materials from the retail, food, and beverage industries is driving the market. The commercial printing market is being driven majorly by several promotional activities such as print advertising. Retail businesses that understand their target markets are including print advertising as part of an overall marketing strategy.? Further, a recent Adobe poll of 1,250 U.S. consumers underlined the ongoing problem with online or digital promotions failing to capture people’s attention, with print-based ads garnering increased consumer attention.
- In addition, the "Food & Wine" magazine is experiencing growth across its brand with a newly enhanced print product. With the publication of its April 2020 California Wine print issue, it attracted new advertisers in 2020, including Ford, LG Signature Series, Silversea Cruises, Sub Zero, St. Regis, and Raymond James. It reported that print ad revenue increased 18% year-over-year between January and April of 2020 and 2019.?
- Introduction of eco-friendly practices, reducing the printing industry’s impact on the environment? drives the market. The market is experiencing major changes in activities and processes, such as slowly being replaced by sustainable systems. Several new initiatives are being implemented for printing industries by taking the major environmental impacts into prime consideration. ?Vegetable inks are environment-friendly ink made from vegetable oils. Although vegetable-based inks take a long time to dry, such inks are considered better in terms of performance because of drastically reducing the amount of VOCs as these are prepared from the vegetable oils. These inks release approximately 2-4% VOC emission, which is very less comparatively solvent-based inks.
- Also, many commercial printing houses are implementing recycled paper in their processes. In March 2020, Verso Corporation introduced Velocity, a coated value web paper ideal for a variety of commercial web offset printing applications, including magazines, catalogs, high-end retail inserts, direct mail, and lightweight mailings. It is being made available with recycled content and FSC paper that are sustainable and eco-friendly.?
- However, demand for commercial printing has reduced during the COVID-19 outbreak. Heidelberg released a report on the current state of the global print industry, during the COVID-19 outbreak. According to the report, during the COVID-19 outbreak, print production in China fell by up to 80% compared to normal volumes but recovered as the infection curve fell and is now back to last year’s levels, in both the commercial and the packaging/label segments. In addition, some printers witnessed increased demand for COVID-19 related signage from retailers, who want to assure customers that they are taking necessary safety precautions. Others are turning to print items, like plexiglass shields.
Key Market Trends
The Advertising Segment Expected to Witness Significant Growth
- The growing need for advertising in enterprises across the world, along with extensive technological proliferation, currently represent the key factors driving the market growth. Organizations are increasingly adopting commercial printers, as they are more cost-effective and efficient for bulk printing.
- The advertising sector has gained high traction in digital advertising. The increase in digital advertising significantly impacted the market for commercial printing in the advertising sector. Sensory Interactive deployment takes advantage of digital signage at strategic locations. The company installed three large digital displays at Circa, a new mixed-use development in Los Angeles, at a total surface area of over 18,000 square feet. This was being used extensively by Nike for a variety of high-profile campaigns. Such instances have resulted in a decline in the use of printed advertising.
- Further, Soft signage is gaining popularity at a constant speed. Thus, more banners, including giant 5m wide prints or less, more straightforward signs, are expected to be seen in 2020.
- For instance, Canon Solutions America partnered with DGI USA, a manufacturer with deep roots in dye sublimation, to deliver solutions that combine DGI’s highly productive printers with its robust support services and market expertise. The new DGI Dye Sublimation printers, DGI FT-3204X, DGI POSEIDON, and DGI FH-3204 are anticipated to provide an excellent solution for print service providers looking to expand their businesses into soft signage.? Such initiatives are retaining the demand for the printed advertising industry, thereby retaining the market for commercial printing in the segment.
- Further, leading fashion brands, like ZARA, Oysho, and Massimo Dutti, with over 1,300 eco-efficient stores worldwide since 2007, are expected to bring all their stores under an eco-efficient model by 2020. This is expected to result in significant growth of advertising printing.
Asia-Pacific Accounts for a Significant Market Share
- The Asia-Pacific region accounts for a significant market share due to increasing demand from critical regions, like China, India, Philippines, Vietnam, and Thailand. Factors, such as the inception of new technologies, changing lifestyles, rise in e-commerce, and urbanization, are driving the growth of the printing market in the region.
- According to the Confederation of Indian Industry (CII), India is anticipated to become the fifth-largest consumer market by 2025. Also, according to an ASSOCHAM-EY joint study, the print and packaging industry in India is expected to grow to USD 72.6 billion by 2020, registering a CAGR of 18%.
- The All India Federation of Master Printers (AIFMP) estimates that the country consists more than 250,000 MSMEs and big printers. The data from AIFMP also suggests that commercial printing in the country is growing at an annual rate of around 10%, while digital printing is growing at a robust growth rate of 30%.
- Further, in Japan, players are focused on providing innovative offerings, like inkjet printers. For instance, in November 2019, Fujifilm Holdings Corporation, a photography, imaging, printing, and biotechnology company based out of Tokyo, Japan, launched Samba JPC. This inkjet printer component incorporates software and core parts required for developing industrial single-pass printing devices for commercial and package printing applications. The technology is being increasingly adopted for commercial printing of books, posters, folding cartons, corrugated cardboard, and labels.
- Furthermore, China is witnessing the inrease in wages and the standard of living, which has, in turn, boosted consumer spending. This is a key driver of demand for print services. Packaging accounts for approximately half of China’s printing sales, and publishing accounts for nearly 30% of the sales. Unlike in the West, where the printed publications are significantly declining amid the digital options for reading, the printed readership for magazines, books, and newspapers is still growing in China.
- In addition, Bangladesh has become an attractive destination for China and several other countries due to the lack of skilled workforce, higher production costs, and lower labor costs in those countries and the mature management in Bangladesh. Thus, the country is engaged in trade agreements with the European Union (EU) and the United States.
The commercial printing market is fragmented due to the presence of many global and regional players. Due to the overcapacity of firms and pricing pressures, the market appears to be extremely competitive in nature. Further, with merger and acquisitions, partnerships, and innovations in printers, there is intense rivalry in the market. Key players are Quad/Graphics, Inc. and ACME Printing. Recent developments in the market are:
- Feb 2020 - R.R. Donnelley & Sons Company (RRD) partnered with Microsoft Store to provide technology-supported, end-to-end creative and print collateral services, to help the retail brand in enhancing the in-store engagement and speedily react to the dynamic market conditions.
- Jan 2020 - Transcontinental Inc. acquired Artisan Complete Limited, which specializes in the creation of retail environments, point-of-purchase displays, and large format printing. This acquisition may help the company to grow its in-store marketing product printing vertical.
- September 2019 - Dai Nippon Printing Co. Ltd (DNP) introduced a new dye-sublimation digital photo printer1, which is one of the most lightweight and compact2 printers available in the global market. The new printer, DP-QW410, expands the existing product lineup, and it can be used for a photo booth, event photographers, and ID photo solutions.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
Read the full report: https://www.reportlinker.com/p06020223/?utm_source=GNW
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
CONTACT: Clare: firstname.lastname@example.org US: (339)-368-6001 Intl: +1 339-368-6001