Dublin, Dec. 10, 2024 (GLOBE NEWSWIRE) -- The "Commercial Printing - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2024-2029)" report has been added to ResearchAndMarkets.com's offering.
The Commercial Printing Market size is estimated at USD 0.91 trillion in 2024, and is expected to reach USD 1.02 trillion by 2029, growing at a CAGR of 2.38% during the forecast period (2024-2029).
The commercial printing industry is transforming, primarily driven by the rapid rise of the internet and mobile connectivity. This shift is reshaping how businesses and individuals communicate and access information. Consequently, companies are focusing on producing more targeted and frequent print materials, especially in sectors where consumers are highly engaged.
Key Highlights from this Research
- The commercial printing sector is witnessing a significant shift, gradually transitioning toward sustainable practices. Printing industries are increasingly prioritizing environmental concerns, leading to the adoption of various eco-friendly initiatives.
- Moreover, with a growing emphasis on sustainability, businesses are increasingly turning to commercial inkjet products. These products consume less power and emit less carbon dioxide, resulting in cleaner air due to the absence of toner dust emissions. Many companies are investing in inkjet printers to enhance their offerings and personalize packaging, assist clients in brand promotion, and cater to the seasonality of demand.
- The printing industry, historically reliant on labor, has witnessed a shift. Advancements in machinery design, digitalization, and computerization have boosted productivity, decoupling growth from direct labor. However, escalating raw material costs are constraining many market players. These materials encompass paper, inks, and various chemicals.
- According to Zenith, global advertising spending experienced a significant setback in 2020, with a 4% decline, primarily attributed to the COVID-19 pandemic. However, as industries like packaging, publishing, and advertising expanded in the post-pandemic era, ad spending rebounded notably in the subsequent year. Projections suggest that by 2024, the industry is poised to witness a resurgence, with expenditure growth expected to reach approximately 7.6%.
Commercial Printing Industry Overview
The commercial printing market is fragmented due to the presence of many global and regional players. Considering the homogenous nature of market products, many firms operating in the market are further being driven to compete on price. Some of the players are ACME Printing, Cenveo Worldwide Limited, R.R. Donnelley & Sons Company, Vistaprint (CIMPRESS PLC), and Toppan Co. Ltd (Toppan Inc.).
- March 2024 - R.R. Donnelley & Sons Company finalized an agreement to acquire digital and print marketing assets from Vericast Corp. These assets include digital marketing solutions such as display advertising, contextual targeting, connected TV, dynamic mobile services, digital out-of-home advertising, social media marketing, email campaigns, local search services, and zero-party data capture. The acquisition also covers Vericast's print marketing division, featuring shared mail services and a coupon-clearing business in both digital and print formats.
- January 2024 - Konica Minolta Business Solutions (UK) bolstered its collaboration with Production Print Direct, a key player in equipment, software, and services for the commercial print market. This expanded partnership now encompasses Konica Minolta's digital label and packaging presses. The move comes as commercial printers increasingly seek to broaden and elevate their service portfolios.
Commercial Printing Market Trends
Retractable Safety Syringes Segment Expected to Witness Significant Growth During the Forecast Period
- Technological advancements in printing have revolutionized both the aesthetic and practical aspects of packaging. Current trends in packaging underscore a rapid embrace of digital printing, integration of smart technologies, and the utilization of advanced printing techniques. These advancements enhance the visual appeal and functionality of packaging and play a key role in achieving sustainability objectives, which align with the industry's broader push for eco-friendliness.
- Commercial printing is continuously evolving and driven by technological advancements and changing customer preferences. As brand differentiation with eye-catching and informative packaging becomes essential for brands to stand out on store shelves, commercials have significantly grown to create visually appealing designs.
- With a rise in digital information delivery, commercial printers have been imbibing digital technologies to enhance packaging print quality. Quick response (QR) codes have become a basic/mainstream print on product packaging that can be scanned with a smartphone for additional data display, such as product info and promotional content, to name a few.
- The demand for printing on packaging and labels for pharmaceuticals, tobacco, and alcoholic beverages is rapidly surging. This rise is driven by the need for companies to adhere to continuously evolving government regulations and combat counterfeiting.
- Increased cooperation among the convertors and retailers surrounding packaging has led to the development of innovative ways of enticing customers. Online shopping and curating personalized experiences have further aided the market for commercial printing in the packaging domain. For instance, according to MOFCOM China, the retail sales volume of the online shopping market was CNY 15.3 trillion (USD 2.13 trillion). Owing to this, many packaging companies are investing in commercial printing solutions, thus boosting the market's growth.
North America Expected to Hold Significant Market Share During the Forecast Period
- The Asia-Pacific region, notably countries like China, India, and several Southeast Asian nations, has experienced rapid economic growth; for instance, according to estimates from the Statistics Ministry, India's GDP expanded by 8.4% in the third quarter of FY24. This represents a substantial increase from the 4.3% growth recorded in the same quarter of FY23. The Ministry of Finance reported a 7.6% growth in real GDP for FY24. Strong residential demand drove the construction sector to double-digit growth in FY24. Additionally, the manufacturing and service sectors also experienced growth in Q3.
- This upsurge has propelled industries heavily reliant on printed materials, such as retail, advertising, education, and manufacturing. Expanding businesses come with heightened marketing collateral, packaging, and documentation needs, directly boosting the commercial printing sector.
- The economic development in these countries has led to increased consumer spending, which in turn drives demand for printed products. Retailers require more packaging and labels, advertisers need more promotional materials, educational institutions demand more textbooks and learning aids, and manufacturers need more documentation and product labels. This interconnected growth across various sectors underscores the importance of the commercial printing market in supporting economic activities.
- Technological innovation, especially in digital printing, has driven growth in the printing industry. Digital printing, known for its superior quality, efficiency, and customization, allows for shorter print runs, faster turnarounds, and personalized content. These features appeal to businesses of all sizes.
- Consequently, this technological shift not only enhances the operational capabilities of printing companies but also expands their customer base as more businesses seek these advanced services. Many key players are launching new products and forming strategic partnerships and regional expansions to broaden their portfolios, further adding value to the commercial printing market in the Asia-Pacific region.
Key Topics Covered:
1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Attractiveness - Porter's Five Forces Analysis
5 MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Increased Demand for Promotional Materials from the Retail, Food, and Beverage Industries
5.1.2 Introduction of Eco-friendly Practices
5.2 Market Restraints
5.2.1 Increase in Digitization and Rising Dependence on Feedstock Prices
5.3 Market Opportunities
5.3.1 Incorporation of Digital TIE-INS (such as QR Code, AI, URL)
6 MARKET SEGMENTATION
6.1 By Printing Type
6.1.1 Offset Lithography
6.1.2 Inkjet
6.1.3 Flexographic
6.1.4 Screen
6.1.5 Gravure
6.1.6 Other Printing Types
6.2 By Application
6.2.1 Packaging
6.2.2 Advertising
6.2.3 Publishing
6.2.3.1 Books
6.2.3.2 Magazines
6.2.3.3 Newspapers
6.2.3.4 Other Publishing
6.2.4 Other Applications
6.3 By Geography
6.3.1 North America
6.3.2 Europe
6.3.3 Asia
6.3.4 Australia and New Zealand
6.3.5 Latin America
6.3.6 Middle East and Africa
7 COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 ACME Printing
7.1.2 Cenveo Worldwide Limited
7.1.3 R.R. Donnelley & Sons Company
7.1.4 Vistaprint (CIMPRESS PLC)
7.1.5 Toppan Co. Ltd. (Toppan Inc.)
7.1.6 Transcontinental Inc.
7.1.7 LSC Communications US LLC
8 INVESTMENT ANALYSIS
9 MARKET OUTLOOK
10 IMPACT OF TECHNOLOGY IN THE COMMERCIAL PRINTING ECOSYSTEM
For more information about this report visit https://www.researchandmarkets.com/r/ehf4rh
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