Photo Merchandise to Surpass Photo Printing

Photo Merchandise to Surpass Photo Printing

Digitalization Spurs Print Demand

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Valley Cottage, NY—According to a recent study by Future Market Insights (FMI), the $16.9 Bn photo printing and photo merchandise market is expected to register a CAGR of 2.6% through the forecast period. The report, Photo Printing and Merchandise Market: Global Industry Trend Analysis 2013 to 2017 and Forecast 2018–2028, also reveals that 3D printing technology and the elevated use of smartphone apps will sustain market growth at a passive pace through 2028.

The study demonstrates the market dynamics and photo printing trends globally across seven regions: North America, Latin America, Western Europe, Eastern Europe, China, SEA and other APAC, Japan and Middle East as well as Africa.

On the basis of product type, the market is segmented as photo printing and merchandise printing. In addition, the module segment is separated into film printing and digital printing. And the mode of printing segment is segmented into desktop and mobile. By distribution channel, the market is segmented into instant kiosks, over the counter, retail and also online print ordering. photo merchandise Future-Market-Insights-LogoAlso noted by FMI is the latest trends in the photo printing and merchandise market include e-commerce companies focused on online photo printing services. Trends also include the fact that a majority of manufacturers are dedicated to photo printing kiosks with enhanced connectivity features.

“While these trends are likely to uplift the market scenario slightly, the overall growth of the photo printing and merchandise market will reportedly remain sluggish throughout the projection period,” the company asserted.

Prints to Be Surpassed by Photo Merchandise

Photo printing currently accounts for a major share of the total market revenue. This is due to continued popularity of printed photographs among consumers. However, FMI believes it is likely that the photo printing segment will lose its market share to merchandise printing. This is attributed to the bolstering demand for photo merchandise products such as mugs, pillows, cushions, photo books and other personalized photo products.

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“Happy Brother and Sister,” by Holodeck 3D Studios, Kirkland, Washington. Photo Courtesy of Zoe Burchard Studio

“By the end of 2028, the revenue contribution through merchandise printing to the global photo printing and merchandise market value is anticipated to reach around 25%,” FMI stated. Moreover, the report projects the merchandise segment to witness a steady CAGR of 4.4% during 2018–2028.

Furthermore, digital printing is expected to take over the film printing module. In addition, the mobile printing mode will win a major market share over desktop printing. FMI attributes this market progression to the rapid digitalization that has impacted industries worldwide.

Photo Printing & Merchandise Segment Forecasts

The instant kiosks segment covers self-operated automated booths and kiosks; users walk in and get their photos clicked within a few seconds. This distribution channel is only used for photo print applications.

The over-the-counter segment covers small unorganized photo studios that hire photographers for clicking photos of individuals. However, FMI expects this channel to witness a major decline, losing a significant market share during the forecast period. It asserts that this channel will see sluggish growth through 2028, despite accounting for more than 15% share of the total market revenue.

The retail distribution channel will reportedly continue to hold more than 25% value share through 2028. A few of the leading companies in the retail sector include Walmart and Target; they design, print and sell photo print and merchandise products in-store. Among retail giants, Target has dedicated photo labs in their stores for printing photos on paper and any merchandise. Individual retail shops that sell photo print and related products also fall under the retail category.

The report also highlights that the highest growth potential exists in the already dominating segment—the online distribution channel. This channel includes selling photo products or printing via an online medium using company websites or mobile applications. “This segment will possibly account for around 55% market value share by 2028 end,” the report states.

A few companies spearheading the online photo printing and merchandise sector include Snapfish, Cimpress NV, Bay Photo, AdoramaPix, Shutterfly, Amazon Prints and Mpix.

In addition, according to the report: “Regional analysis of the global photo printing and merchandise market reveals continued dominance of North America with more than 27% share of the market value.” Growth prospects were also estimated for the market in Western Europe.

Key Printing Companies

Moreover, the report notes that tier 1 companies currently account for a majority revenue share of around 45%. This is followed by a share of 40% from tier 3 companies participating in the global photo printing and merchandise market. In addition, tier 2 players are responsible for generating nearly 15% share of the total market revenue. And, these key players are increasingly focused on the growing demand for merchandise products and innovation in photo printing technology.

The report also highlights a few key developments in the market. They include the recent launch of a process-free technology portfolio by Eastman Kodak Company. The Kodak Sonora UV process-free plate is capable of delivering longer run lengths (up to 30,000 impressions) compared to any other process-free plate. SonoraCanPrintThat photo merchandise

It also offers the benefits of UV technology, flexibility, high print quality and faster drying times, according to FMI. Along with this technology, the company introduced new applications, “delivering more efficient, faster and more sustainable results.”

These insights are based on a report, Photo Printing and Merchandise Market, by Future Market Insights.

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