Photo Printing and Merchandise Market Size, Share, Growth, and Industry Growth, By Type (Photo Prints, Photo Wall Decor, Photo Mugs, Photo Cards, Photo Calendar, Photo Clocks, and Others), By Application (Online and Offline), Regional Forecast By 2031

Updated On: 08 April 2024

Photo Printing and Merchandise Market Report Overview

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The global photo printing and merchandise market size was USD 20.92 billion in 2021, as per our research, the market is projected to touch USD 45,478.09 million in 2031, exhibiting a CAGR of 8.0% during the forecast period.

The global COVID-19 pandemic has been unprecedented and staggering, with photo printing and merchandise experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden spike in CAGR is attributable to demand returning to pre-pandemic levels once the pandemic is over.

The population has access to multiple photo editing apps and sites that allow easy customization and editing. The retailers offer personalized photo prints, greeting cards, and merchandise. These retailers offer services in sourcing, design, distribution, printing, and a large physical store network. Merchandising is a practice that contributes to product sales to a retail customer. It refers to various products available for sale and shows products that stimulate customers' interest in buying them. 

In essence, photographic printing is the reproduction of a finished image for viewing on either paper or another medium. A digital image, film negative, or digital photo file is often electronically projected onto paper using a digital camera or other digital photography equipment. The document is subsequently processed via several phases, including imaging, printing, binding, coloring, and eventually framing. The finalized printed image is the output. Different techniques are used in photo printing to transfer images from digital media to thermoplastic or inkjet-compatible paper. Although both types of printers create photos that are equivalent in quality, print businesses will typically employ inkjet technology because it is quicker and less expensive than conventional picture printing procedures. Commonly, print companies use three different

COVID-19 Impact: Disruption in Supply Chain Impeded Market Growth

The long-term effects of COVID-19, an unprecedented worldwide public health emergency that had an impact on practically every industry, are anticipated to have an impact on the expansion of a number of end-use industries throughout the course of the forecast period. The market experienced a halt in growth during the lockdown. The supply of raw materials was hampered by the shutdown of the market, which severely affected the market growth. The market is expected to recover due to the upliftment of lockdown protocols. 

LATEST TRENDS

"Adoption of Gift Culture to Drive Market Trends"

The population is rapidly adopting the foreign culture of gifts. To give something memorable and creative, they often prefer photo printing and merchandise gifts to make their loved ones feel special. These photo printing and merchandise are available online, which is estimated to propel the market growth. Every youngster owns a smartphone which makes it easy for them to check products online. The online sector also allows customization. The availability of high-resolution smartphones is leading to a rise in the number of HD pictures. These factors are likely to propel market growth in the foreseeable future. These products are available in various options, such as cards, clocks, calendars, mugs, and others. 

Photo Printing and Merchandise Market Segmentation

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• By Type Analysis

By type, the market is segmented into photo prints, photo wall decor, photo mugs, photo cards, photo calendars, photo clocks, and others.

• By Application Analysis

Based on application, the market is classified into online and offline.

DRIVING FACTORS

"Use of Mobile Phones for High-Resolution Pictures to Propel the Service Demand"

Rising use of mobile devices for high-resolution photography and rising interest in 3D prints and photographs are driving the market's expansion. Moreover, the market is expanding due to the rapid advancement of photo-capturing technologies. However, the high cost of self-printing kiosk installation and maintenance is severely restricting the market's expansion. Artificial intelligence and digital printing are opening up new industry opportunities. However, the market's expansion is being severely hampered by the replacement of paper calendars with digital planners.

"Growing Demand for 3D Images to Aid Market Growth"

Over the course of the forecast period, rising demand for 3D photos is anticipated to propel the photo printing and merchandising market growth. Since 3D graphics are more interactive than 2D images and enable viewers to gain information from their movements or controls, they have been used in various industries. Consequently, 3D images are used in a variety of fields, including architecture, engineering, and even medicine. This has led to a rise in the use of picture printing globally. Therefore, it is anticipated that these factors will accelerate market expansion throughout the forecast period. In addition, vendors' rising use of HD images for marketing is anticipated to hasten the global market for photo printing and goods growth in the near future.

RESTRAINING FACTORS

"High Cost of the Product to Impede Market Growth"

The market growth is expected to see a downfall due to their high cost. The high cost of the product restricts small businesses from taking their merchandise, which is forecasted to hinder photo printing and merchandise market growth.

Photo Printing and Merchandise Market Regional Insights

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"North America to Be the Leader Due to the Growing Number of Key Players in the Region"

North America is estimated to hold a leading part of the photo printing and merchandise market share owing to the rising number of companies in the region. The companies offer various printing options and merchandising. The U.S. is likely to be the major country in the expansion of regional growth by virtue of the rapid adoption of picture printing gifts and merchandise devices.

Asia Pacific is estimated to show significant growth due to the expansion of e-commerce sectors. The rapid expansion of e-commerce sectors leads to a higher demand for photo printing and merchandise. 

KEY INDUSTRY PLAYERS

"Key Companies to Emphasis on the Development of Advanced Technology"

Key market players are investing heavily on research and development of the product. Companies are also paying focus on launching advanced products. Emphasis on gaining collaborations, mergers, and acquisitions is increasing among leading players. The major market players are striving to maintain partnerships with other key players in the same industry. Gaining partnerships with other companies will develop a strong consumer base in the global market. The key competitors are adopting organic and inorganic growth strategies to surge their market share in the global market. 

List of Market Players Profiled

• Shutterfly (U.S.)
• Cimpress (Netherlands)
• Cewe Color (Germany)
• Walmart (U.S.)
• Zazzle (U.S.)
• Snapfish (U.S.)
• PhotoBox Group (England)
• Target Corporation (U.S.)
• Rakuten (Japan)
• Walgreens (U.S.)
• Minted (U.S.)
• Tesco (U.K.)
• Blurb (U.S.)
• Amazon Prints (U.S.)

INDUSTRY DEVELOPMENT

• May 2020- cardfactory launched a store in Flintshire Retail in North Wales. This store was launched to help the company boost its retail business during the pandemic. This launch has strengthened the company's presence in the global market and enhanced the product offerings to the customers. 

REPORT COVERAGE

The market research study offers thorough information on numerous market aspects. The growth drivers, restraints, geographical analysis, competitive environment, and challenges are a few of them. Additionally, it provides an analytical analysis of market trends and projections for various factors to show potential investment areas. From 2021 through 2031, the market is objectively assessed to determine its financial viability. The report's data was compiled using a variety of primary and secondary sources.