New York, April 20, 2023 (GLOBE NEWSWIRE) -- Market.us projects that the Print on Demand market will exceed USD 43.07 billion by 2032 from USD 3.94 Billion in 2022, with a projected CAGR of 27.8% from 2023 to 2032. Print-on-demand (POD) printing technology enables the production of printed materials in small numbers or even single copies as they are ordered. This provides greater flexibility and cost efficiency during the printing process since there are no large print runs or inventory storage requirements. In publishing, POD revolutionized how books are published; authors no longer need traditional publishing contracts or upfront costs associated with producing large numbers of books.
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Key Takeaway:
- By platform, in 2022, the print on demand market was dominated by the software segment due to increased technological adoption.
- By product, the apparel segment dominated the largest market share in product analysis and accounted for the largest revenue share in the print on demand market in 2022.
- In 2022, North America dominated the market with the highest revenue share of 40%.
- APAC is expected to grow at a greater pace owing to the increasing internet penetration and smartphone adoption along with a huge number of online shopping portals.
Factors affecting the growth of the Print on Demand industry
There are several factors that are affecting the growth of the Print on Demand industry. These include:
- E-commerce: The rise of e-commerce platforms has greatly benefited the Print on Demand industry. Marketplaces such as Amazon, eBay, Flipkart, and Shoppers Stop have made it simpler for creators and entrepreneurs to sell their designs & products without needing a physical storefront or inventory.
- Low startup costs: The Print on Demand industry offers low entry-level costs, making it accessible to a wider range of people. Since there are no inventory costs, production expenses, or shipping expenses involved, entrepreneurs can launch their businesses with a minimal outlay of funds.
- Customization and Personalization: The Print on Demand industry provides customization and personalization options that traditional retail cannot match. Customers can order products with personalized designs or customizations, such as their name or a particular image, that traditional retailers cannot match.
- Technological Advancement: Due to recent developments in digital printing technology have made it possible and more cost-effective to print high-quality designs on demand. This can increase production speed while decreasing expenses associated with traditional printing methods.
- Sustainable and Ethical Production: With consumers becoming more conscious of the environmental and social consequences of their purchases, Print on Demand has emerged as a viable and ethical alternative to traditional retail. By producing products only when they are ordered, this industry reduces waste and avoids excess production.
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Top Trend in the Global Print on Demand Market
In recent years, there have been various developments within the global print on demand market. Consumers are increasingly seeking unique and customized items which has led to an uptick in print on demand services for clothing, accessories, and home decor items. Another trend in the print-on-demand market is the rising usage of eco-friendly materials and processes. As customers become more environmentally aware there has been a growing demand for sustainable and eco-friendly items. Advancements in print on demand technology have enabled businesses to produce high-quality products at lower costs which are fueling the growth of this market. Expect more innovations in print on demand technology as well as new opportunities for businesses to capitalize on rising demands for customized items.
Market Growth
The rising demand for personalized products and consumers seeking unique and customized products which match their individual preferences has experienced remarkable growth in the POD market in past years. The growth of e-commerce has also provided a substantial lift to the POD market with more people starting their online businesses and using POD services. The advancements in technology have also played a crucial role in the growth of the market which is more cost-effective and helpful to manufacture high-quality products on demand. Furthermore, the market focus on sustainability and ethical production has also increased its popularity among environmentally conscious consumers. The print on demand market is expected to continue growing due to the expansion of the market into new sectors such as home décor & fashion in the upcoming years.
Regional Analysis
North America dominated the global print on demand market with a revenue share of 40% and an expected CAGR of 27.2% during the forecast period. North America's stable economies, presence of manufacturing facilities, and technological infrastructure are key factors driving the growth of this market in the region. However, Asia Pacific is forecast to experience the highest CAGR at 27.9% during the forecasted period, due to major players present there as well as increasing internet penetration rates and smartphone adoption along with an abundance of online shopping portals in that region.
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Scope of the Report
| Report Attribute | Details |
| Market Value (2022) | USD 3.94 Billion |
| Market Size (2032) | USD 43.07 Billion |
| CAGR (from 2023 to 2032) | 27.8% |
| North America Revenue Share | 40% |
| Historic Period | 2016 to 2022 |
| Base Year | 2022 |
| Forecast Year | 2023 to 2032 |
Market Drivers
The print on demand products is in high demand owing to consumer preferences for unique and fashionable items, as well as increased internet usage and online retail shopping platforms. Print on demand platforms enables to provision of personalized services where customers want more unique products for themself. Artists and merchants with print on demand businesses who need to sell their services online may do so through their existing platform or opt for a new one, depending on which platform is most appropriate. The service providers will print and ship the customer's orders providing an end-to-end fulfillment solution. Print on demand can also be seen as a more sustainable alternative than traditional printing methods, reducing waste and excess inventory. Thanks to technological advancements manufacturing high-quality prints on demand have become simpler and cost-effective, leading to an uptick in demand for such items.
Market Restraints
Print on demand markets offer a vast array of products, but there are some limitations. Some materials like certain fabrics or textures may not be compatible with digital printing processes. Print on demand products typically requires more shipping and delivery time compared to traditional items that are in stock, which could be an issue for customers who need their items in quick time. Maintaining quality control in the print on demand market can be a challenge particularly due to products produced by different vendors with different printing processes and equipment. The print on demand market is becoming increasingly saturated as more companies and individuals join it and offer similar products creating a challenge for new entrants to stand out and compete effectively. Furthermore, print on demand items may be subject to intellectual property issues like copyright infringement since anyone can easily upload and print images they do not possess the rights to use.
Market Opportunities
The global print on demand market is experiencing rapid growth offering numerous opportunities for businesses and entrepreneurs around the world. Print on demand technology enables companies to manufacture high-quality and customized products as per the need of customers eliminating the requirement for large inventories and cutting production costs. Due to the rising penetration of e-commerce and the increasing need for personalized products print on demand has seen a meteoric rise in popularity over recent years. From t-shirts & phone cases to books & home decor there is now an extensive range of items that can be produced using this cutting-edge technology. As this market continues to expand businesses that invest in print on demand technology may find themselves at the forefront of an exciting and rapidly developing industry.
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Report Segmentation of the Print on Demand Market
Platform Insight
Based on the platform, the print on demand market is divided into software and service. Of these platform types, software appears to be the most lucrative segment within this global print on demand market with a projected CAGR of 26.6%. By 2022, the software platform segment will account for 73% of global software revenues. This growth can be attributed to increasing technological adoption and investments by service distributors in the print on demand market. Additionally, service providers offer various software solutions such as API and design-making tools. Furthermore, the service segment is expected to experience the highest compound annual growth rate of 28.5% during the forecast period due to an abundance of providers offering drop shipping and end-to-end fulfillment solutions.
Product Insight
By product type, the market is further divided into apparel, home decor, drinkware, accessories, and other products. Apparel is forecast to be the most lucrative segment within the global print on demand market with a share of 37% and a projected CAGR of 27.4% by 2022. Due to the rising trend toward trendy fashion apparel, rapid online retail penetration in the fashion industry, and younger generations seeking custom and unique products, the market will remain stable during the forecast period. However, the home decor segment is forecast to experience the highest compound annual growth rate of 27.8% over the forecast period due to a growing perception toward remote working worldwide due to the pandemic, as more people are staying home and looking to enhance their living spaces. An extensive selection of home and lifestyle category products such as mats, cushions, canvas, etc. available to customers worldwide is fuelling demand in this space.
Recent Development of the Print on Demand Market
- In June 2022, Gooten revealed its partnership with Fujifilm to measure print on demand manufacturing of all organization sizes. This partnership will take print on demand services to online merchants, small enterprises, and retailers.
- Apliiq has announced that additional Kornit Storm systems will be available for digital direct-to-garment (DTG) production. These installations are in conjunction with Apliiq's new Philadelphia production facility.
Listed below are some of the most prominent print on demand industry players.
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Market Segmentation
Based on Platform
- Software
- Integrated
- Stand-Alone
- Service
Based on Product
- Apparel
- Home Décor
- Drinkware
- Accessories
- Other Products
By Geography
- North America
-
- The US
- Canada
- Mexico
- Western Europe
-
- Germany
- France
- The UK
- Spain
- Italy
- Portugal
- Ireland
- Austria
- Switzerland
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe
-
- Russia
- Poland
- The Czech Republic
- Greece
- Rest of Eastern Europe
- APAC
- China
- Japan
- South Korea
- India
- Australia & New Zealand
- Indonesia
- Malaysia
- Philippines
- Singapore
- Thailand
- Vietnam
- Rest of APAC
- Latin America
-
- Brazil
- Colombia
- Chile
- Argentina
- Costa Rica
- Rest of Latin America
- Middle East & Africa
-
- Algeria
- Egypt
- Israel
- Kuwait
- Nigeria
- Saudi Arabia
- South Africa
- Turkey
- United Arab Emirates
- Rest of MEA
Competitive Landscape
Leading key players are employing various strategies to expand their businesses and stay ahead of the competition in the global print on demand market. Companies invest severely in research and development efforts to produce high-quality products which satisfy growing demands for this technology. To boost global revenues, print on demand market companies are resorting to tactics such as merger & acquisition, partnerships, and collaborations.
Some of the major players include:
- Amplifier
- Apliiq
- CustomCat
- Gelato
- Gooten
- JetPrint Fulfillment
- Printed Mint
- Printful, Inc.
- Printify, Inc.
- Printsome
- Prodigi Group
- Redbubble Group
- T-Pop
- Teelaunch
- VistaPrint
- Zazzle Inc.
- Other Key Players
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