USD 476.30 billion
Report ID: SQMIG45O2020 | Region: Global | Published Date: July, 2023 | Pages: 157 | Tables: 66 | Figures: 67
Global Commercial Printing Market size was valued at USD 476.30 billion in 2021 and is poised to grow from USD 489.63 billion in 2022 to USD 627.78 billion by 2030, growing at a CAGR of 2.8% in the forecast period (2023-2030).
The demand for commercial printing services is on the rise due to the growing need of businesses and enterprises for advertising materials like brochures and pamphlets, which are considered excellent marketing tools. Technological advancements, such as faster presses and new color & toner technology, have led to improved production capabilities and higher quality in the printing industry. Moreover, ongoing developments in printing techniques have resulted in cost-effectiveness and efficiency, particularly for bulk printing, helping to mitigate the impact of digital media on printing services to some extent.
The e-commerce industry's thriving demand for packaging and labeling has significantly contributed to the expansion of the Commercial Printing Market. Major e-commerce vendors like Amazon, eBay, and Target are embracing innovative packaging solutions, such as additive manufacturing and AI-powered design tools, to enhance their packaging strategies. Additionally, players in logistics, warehousing, and retail sectors are investing in hybrid print technologies, combining the strengths of analog and digital approaches. This combination harnesses the dependability and effectiveness of flexographic printing alongside the creative potential of digital technology.
Despite the increasing popularity of digital media for book publishing and advertising, commercial printing maintains its relevance because of the unique experience it offers. Printed materials and publications cannot be replicated in an online medium. Devoted book readers and magazine buyers prefer the tangible, printed format due to the added experiential value it brings. Printed books also provide advantages such as enhanced readability, contributing to their enduring appeal.
Global Market Size
USD 476.30 billion
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Global Commercial Printing Market is segmented on the basis of printing technology, application, and region. By printing technology, the market is segmented into Lithographic Printing, Digital Printing, Flexographic Printing, Screen Printing, Gravure Printing, Others. By application, the market is segmented Packaging, Advertising, and Publishing. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Analysis By Printing Technology
The lithography printing segment commands the largest share of 43.82% in the market. This dominance can be attributed to the increasing demand for printing in packaging applications. Lithography technology provides several benefits, including consistent and high image quality, which has resulted in its widespread adoption. Lithographic printing is particularly well-suited for handling high-volume batches of static mailings like directories and product advertisements. Another commonly used technology is flexographic printing. However, its adoption is limited due to the post-printing processes that it necessitates.
On the other hand, the digital printing segment is projected to experience the highest Compound Annual Growth Rate (CAGR) of 3.9%. This growth can be attributed to the swift adoption of inkjet and laser printing solutions in the paper and packaging printing sector, mainly due to the cost-efficiency and flexibility of this technology. Additionally, the segment is expected to be further propelled by the implementation of Artificial Intelligence (AI) and Internet of Things (IoT) based technologies. Digital printing offers advantages like reduced costs for color prints and a higher return on investments, making it a widely adopted choice for various printing applications.
Analysis By Application
The Packaging segment secured the highest share of revenue, surpassing 53.77% thus being the dominant segment. This segment encompasses printing on labels, tags, and flexible packaging. Commercial printers have actively integrated digital technology to enhance the quality of packaging prints. Moreover, Quick Response (QR) codes have become a common feature on product packaging, allowing users to scan them with a smartphone to access additional information, including product details and promotional content, among other things.
On the other hand, the Publishing segment is the fastest-growing segment in the Commercial Printing Market. Print advertisements play a crucial role in delivering event coverage, comprehensive analysis, and wide distribution of tangible promotions and news, leading to increased conversion rates and the establishment of credibility. For short print runs, including newspapers, newsletters, posters, flyers, and brochures, gravure and digital print processes are commonly employed. Publishing activities encompass a variety of materials like books, newspapers, magazines, and more. The growing number of newspaper and newsletter subscribers is a significant driving force behind the growth of the publishing application market.
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Asia-Pacific holds the highest share of revenue contribution and is projected to experience a Compound Annual Growth Rate (CAGR) of 2.30% during the forecast period. The region's significant revenue growth is driven by the increasing demand for commercial printing in emerging economies like India, Japan, China, Indonesia, Bangladesh, and Thailand. Various factors contribute to the expansion of the printing market in the Asia-Pacific region, such as the adoption of new technologies, evolving lifestyles, the growth of e-commerce, and rapid urbanization.With a substantial and rapidly growing population, along with a consistently expanding economy, China plays a pivotal role in the region's printing industry. The Chinese commercial printing sector, in particular, holds significant importance and has shown potential for adopting digital printing technology. This is mainly due to housing major manufacturers and attracting numerous Fortune 500 companies, further fueling the growth prospects of the Commercial Printing Market in the Asia-Pacific region.
North America secures the second-largest share in the Commercial Printing Market, contributing to more than 33.15% of the global revenue. This growth in the region can be attributed to the significant demand for commercial printing services, particularly for marketing, packaging, labeling, and advertising needs. Additionally, the presence of major industry players like Quad/Graphics Inc., Acme Printing, Cenevo, and RR Donnelley in the region is expected to further drive the industry's expansion.
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Competitors are heavily investing in research and development practices. The market's product homogeneity is compelling many participants to engage in price-based competition. Consequently, fierce competition has emerged in the target market. Moreover, companies are facing pressure to cut costs while fostering innovation, leading to thriving competition within the print services sector.
Top Player’s Company Profiles
The growing demand for sustainable printing solutions in industries like pharmaceuticals, healthcare, packaging, and labeling, coupled with the need for cost-effective printing methods, is one of the key factors driving the global digital printing market. However, a significant challenge faced by the industry is the substantial initial investment required for establishing digital printing facilities, especially in less economically developed countries. On the positive side, the digital printing market is also benefiting from continuous innovation in printing technology, which presents lucrative opportunities for small and medium-sized businesses..
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Component types team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our Global Commercial Printing Market analysis, the global market is experiencing robust growth and is expected to continue its upward trajectory in the coming years. The digital printing industry is expected to witness significant growth during the projected period, primarily due to the rapid adoption of laser and inkjet printing solutions in the paper and packaging industries. Another driving factor for the growth of the global market is the increasing demand for sustainable printing solutions in various sectors like pharmaceuticals, healthcare, packaging, and labeling, along with the need for cost-effective printing methods. However, a significant challenge faced by the industry is the substantial initial investment required for establishing digital printing facilities, especially in less economically developed countries. On the positive side, ongoing technological innovations in printing offer new opportunities for small and medium-sized businesses, contributing to the market's overall growth potential.
|Market size value in 2021||USD 476.30 billion|
|Market size value in 2030||USD 489.63 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Commercial Printing Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Commercial Printing Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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