Photo Printing Market size to grow by USD 16.27 billion from 2021 to 2026, APAC to account for 53% of the global market growth - Technavio

NEW YORK, April 6, 2023 /PRNewswire/ -- The photo printing market size is expected to grow by USD 16.27 billion from 2021 to 2026, progressing at a CAGR of 13.08% as per the latest Technavio market research report. APAC is estimated to account for 53% of the global photo printing market growth during the forecast period. China is the key market for photo printing market in the region. Market growth in this region will be faster than the growth of the market in any other region. For more insights on the market share of various regions - Download a sample report

Photo Printing Market: Rise in gifting culture to drive growth

• The rising popularity of the gifting culture is the leading driver for the market growth of photo printing during the forecast period. 
• The landscape for gifting has evolved and has been a part of the customs and traditions of various countries over the years. Vast sales opportunities are created during occasions such as Easter, Halloween, Christmas, New Year, and birthdays.
• Some of the major reasons pushing the growth of the photo printing market include the availability of online gifting and the trend of long-distance or overseas gifting.
• Additionally, the ongoing trend of digitalization across the world and the growing number of online users that are actively using the Internet are important factors shaping the entire gifting landscape globally.
• Hence, the ongoing growth of the gifting culture is likely to fuel the growth of the photo printing market during the forecast period.

Photo Printing Market Challenge:

• One of the major challenges hindering the growth of the photo printing market is digitalization. Digitalization has made photo sharing online easy.
• Owing to the availability of vast storage space and cloud storage space, smartphones have the ability to store a huge number of photos. 
• With the advent of social media, people can set up their smartphones to upload their photographs to the Internet, which will preserve the images even if the camera is destroyed or the images are deleted on the device. 
• Storing photos online and sharing them with family and friends can be more affordable than printing out a large number of photos, especially for avid photographers.
• The proliferation of online photo storage websites has severely affected the global photo printing market. 
• Hence, the availability of such options will create a challenge for the sales of the global photo printing market during the forecast period. 

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Some of the key Photo Printing Market Players:

The photo printing market is fragmented, and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Adorama Camera Inc., Bay Photo Inc., Cimpress Plc, Digitalab Ltd., FUJIFILM Holdings Corp., Nations Photo Lab, Shutterfly Inc., Walgreen Co., Walmart Inc., and Wassan Ventures Technomotive Pvt Ltd. are some of the major players in the market.

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Photo Printing Market: Segmentation Analysis

This market research report segments the photo printing market by distribution channel (offline and online) and geography (APAC, Europe, North America, South America, and MEA).

The market share growth by the offline segment will be significant for the growth of the photo printing market during the forecast period. A large percentage of consumers prefer to purchase offline, which drives the photo printing market growth by the offline segment. Furthermore, the offline distribution channel benefits from the growth of retail participation in the global photo printing market as well as improvements in the supply chain network. Moreover, there has been a growth in personalized gift outlets in shopping malls and hypermarkets. For instance, mass merchandisers such as Walmart and Tesco and pharmacy chains such as Rite Aid have equipped their stores with dry minilabs. A minilab is a photographic developing and printing system, which is used by retail stores to provide onsite photo printing services. Major vendors, such as Walgreen, have installed printers manufactured by Xerox Corp. to print photo books and other photo merchandise in their retail outlets. Hence, factors such as improvements in the supply chain are expected to fuel the growth of the segment, which, in turn, will drive the growth of the photo printing market during the forecast period.

APAC led the photo printing market in 2022, followed by Europe, North America, South America, and MEA, respectively. During the forecast period, APAC is expected to register the highest incremental growth. For additional information on the market contribution of each segment - Grab an Exclusive Sample Report

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The digital photo frame (DPF) market is estimated to grow at a CAGR of 3.03% between 2022 and 2027. The size of the market is forecasted to increase by USD 110.9 million. This report extensively covers market segmentation by distribution channel (offline and online), source (electricity-powered and battery-powered), and geography (North America, Europe, APAC, South America, and Middle East and Africa). The inclination toward a high standard of living is notably driving market growth.

The photo printing and merchandise market size is expected to increase by USD 5.35 billion from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 4.94%. The report extensively covers photo printing and merchandise market segmentation by device (desktop and mobile), distribution channel (online, retail, and kiosk), product (photo only, wall decor, photo cards, photo gifts, and calendars), and geography (North America, Europe, APAC, South America, and MEA). The rise in gifting culture is one of the key drivers fueling the photo printing and merchandise market growth.

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Table of contents

Executive Summary

Market Landscape

• Market ecosystem
• Value chain analysis

Market Sizing

• Market definition
• Market segment analysis
• Market size 2021
• Market outlook: Forecast for 2021 - 2026

Five Forces Analysis

• Bargaining power of buyers
• Bargaining power of suppliers
• Threat of new entrants
• Threat of substitutes
• Threat of rivalry
• Market condition

Market Segmentation by Distribution channel

• Market segments
• Comparison by Distribution channel
• Offline - Market size and forecast 2021-2026
• Online - Market size and forecast 2021-2026
• Market opportunity by Distribution channel

Customer landscape

Geographic Landscape

• Geographic segmentation
• Geographic comparison
• APAC - Market size and forecast 2021-2026
• Europe - Market size and forecast 2021-2026
• North America - Market size and forecast 2021-2026
• South America - Market size and forecast 2021-2026
• MEA - Market size and forecast 2021-2026
• Key leading countries
• Market opportunity by geography
• Market drivers
• Market challenges
• Market trends

Vendor Landscape

• Landscape disruption

Vendor Analysis

• Vendors covered
• Market positioning of vendors
• Adorama Camera Inc.
• Bay Photo Inc.
• Cimpress Plc
• Digitalab Ltd.
• FUJIFILM Holdings Corp.
• Nations Photo Lab
• Shutterfly Inc.
• Walgreen Co.
• Walmart Inc.
• Wassan Ventures Technomotive Pvt Ltd.

Appendix

• Scope of the report
• Currency conversion rates for US$
• Research methodology
• List of abbreviations

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