Photo Printing And Merchandise Market Is Estimated To Witness Growth Due To Rising Popularity Of Online Photo Printing And Merchandise Stores

The Photo Printing And Merchandise Market is estimated to be valued at US$ 19384 Bn in 2024 and is expected to exhibit a CAGR of 2.6% over the forecast period 2024- 2031, as highlighted in a new report published by Coherent Market Insights’ The growth of the photo printing and merchandise market is driven by rising popularity of online photo printing and merchandise stores as well as the convenience offered by digital platforms for displaying and printing photographs.

Online stores provide ease of uploading photographs from social media platforms like Instagram, Facebook etc. and allow editing and enhancing photos with various filters before selecting products like photo books, calendars, mugs etc. for printing. This has made photo printing and merchandise more accessible to customers. Also, increasing smartphone and internet penetration globally has augmented the ability to click and share photographs online as well as leverage digital platforms for photo products.

Key Market Trends: Customized photo merchandise trend continues to witness high demand in the market. Manufacturers are offering wide variety of customizable photo products like blankets, pillows, towels, bags etc. where customers can upload their pictures and have it printed on these items. Another noteworthy trend is the growing popularity of premium photo books. Customers are willing to spend more on high quality, specialized photo books with matt or glossy pages and unique cover designs to preserve important memories and moments. Eco-friendly photo paper and sustainable raw materials are also gaining traction in line with increasing environmental consciousness. Some key players have launched recycled, FSC certified, carbon neutral photo papers catering to the green photo trend.

Photo Printing And Merchandise Market Opportunity: Growing demand for photo gifts: The photo printing and merchandise market is expected to witness significant growth due to rising demand for photo gifts such as photo books, photo cards, photo calendars, photo mugs etc. as people want unique ways to commemorate memories and events through photos. Various photo printing platforms offer a wide variety of photo gift options which have become very popular for personal as well as commercial use on occasions like birthdays, weddings, anniversaries etc.

Increasing customization and personalization: Another key growth driver for this market is the rising trend of customization and personalization. People want products that represent their personal style and interests. Photo printing and merchandise companies allow high levels of customization where customers can upload their own photos and designs and get it printed on apparels, home décor items, tech accessories and other merchandise. This has led to increased traction especially among millennials and gen z.

Key Market Takeaways: Photo Printing and Merchandise Market is anticipated to witness a CAGR of 2.6% during the forecast period 2024-2031, owing to the growing demand for photo and personalized gifts along with increasing online printing options.

By Type, the photo prints segment is expected to hold a dominant position, accounting for over 30% of total market share due to rising popularity of photo books, cards and wall décor utilizing personal photos.

By Mode of Printing, digital printing technology is dominating the segment and is projected to maintain its lead throughout the forecast period. This is attributed to greater adoption of DIY printing platforms and enhanced digital printing capabilities.

Regionally, North America is expected to hold a dominant position over the forecast period. This is owing to high consumer awareness about latest printing offerings, increasing disposable incomes and established photo printing brands in the US and Canada.

Competitor Insights: Some of the leading players operating in the photo printing and merchandise market include Cimpress N.V., Shutterfly, Inc., Bay Photo Inc., Walt Disney Company, Cewe Color, AdoramaCamera, and Zazzle Inc. among others. The market shows a tendency towards consolidation as large players acquire regional vendors.

Recent Developments: Driven by rapid technological innovation, the photo printing and merchandise industry is poised for continued growth and evolution well into 2023-2024. Advanced platforms offering unprecedented levels of customization through 3D printing, AR/VR and AI are redefining photo products. On-demand digital processes have streamlined ordering while opening up new avenues for same-day delivery and convenience. Most importantly, consumer demand has never been greater for meaningful, personalized gifts centered around visual storytelling through photos. Companies embracing new technologies and moving beyond traditional prints into expanded merchandise categories will be best equipped to capitalize on coming opportunities. As personal creativity and self-expression take center stage, personalized photos are foundational to how individuals document memories and share their stories. More information in full report.