Photo Printing Market Size was valued at USD 22.15 billion in 2023. The Photo Printing market industry is projected to grow from USD 24.06 billion in 2024 to USD 46.5 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 8.60% during the forecast period (2024 - 2032). Attractive insurance policies for installing security systems and the growing popularity of smart homes are some of the factors driving the growth of the Photo Printing market.
FIGURE 1: PHOTO PRINTING MARKET SIZE, 2019-2032 (USD MILLION)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Many printing enterprises suffered catastrophic losses as a result of the unexpected global lockdown imposed by COVID-19 in the first quarter of 2020. The printing sector did not grow smoothly throughout the quarantine, as this growth was unevenly distributed. The first quarter of 2020 did not witness any shortages or delays that could affect sales or shipments to customers. However, the period additionally experienced a number of governmental and commercial consequences, such as corporate slowdowns or shutdowns and major travel restrictions. These developments resulted in a severe drop in worldwide economic activity as well as financial market valuations.
Several companies printed more than normal, while others stopped ordering print altogether. Because of the quarantine, many businesses moved to home offices, accelerating the trend towards going paperless from a commercial standpoint (there were notably fewer orders for envelopes, business cards, letterheads, binders, and so on). As a result, photo printing companies have experienced not only operational disruption but also decreased customer demand, particularly in Asia-Pacific.
Artificial intelligence is already influencing the digital printing business. Assisting with computation and material optimization. Artificial intelligence tools provide businesses with a significant competitive advantage. While margins in the printing business remain tight, any delays in the supply chain might keep substrate prices high. In the constant battle to make printing a more environmentally friendly sector, any chance to cut waste is welcomed. Short run personalized print items are expected to become increasingly common as innovative concepts become more freely accessible through AI-based solutions.
Moreover, the potential integration of artificial intelligence with digital printing technology can pave the way for several growth opportunities for the local as well as international players of the market. The different areas where artificial intelligence can be applied within photographic printing industry are predictive maintenance, protection against security threats, and paper to digital automation. Companies such as Xerox are exploring the benefits of artificial intelligence for predictive maintenance of their multi-function printers. The early innovators in the photo printing industry are expected to witness growth in the years to come.
In April 2023, the photo printing market experienced an unexpected resurgence, with revenues soaring to new heights. The industry's market valuation has reached an impressive $10 billion during the financial year 2022-2023, showcasing a significant increase in consumer demand for printed photographs in the digital era. This remarkable growth is attributed to a combination of innovative technologies and a rising appreciation for personalized photo prints.
To cater to the surging demand, leading photo printing companies are investing heavily in advanced print technologies. According to reports by statistics in March 2023, an estimated $500 million has been allocated for research and development efforts to enhance print quality, speed, and eco-friendliness by some of the leading companies in this business.
As per reports by leading market research firms, customization and personalization have become driving forces in the photo printing market in recent times. Industry data from June 2023 indicates that personalized prints now account for an impressive 40% of total sales. Consumers are opting for tailor-made products that reflect their unique style and preferences, leading photo printing businesses to expand their offerings and capitalize on this growing trend.
According to the published stats by Statista in January 2023, the widespread adoption of mobile photo printing apps continues to drive market penetration. Leading apps have collectively surpassed 50 million downloads, showcasing the popularity of their user-friendly interfaces and seamless integration with social media platforms. These apps have transformed the way people print and share their memories, further fueling the growth of the photo printing market.
In July 2023, a report by Statista states that photo printing companies forging strategic partnerships with social media platforms have experienced significant sales growth. A prominent collaboration with Instagram has resulted in a remarkable 25% increase in revenue for one photo printing company. Integrating with popular social media platforms has allowed these companies to tap into vast user bases and reach a younger, digitally engaged demographic, eventually leading the market’s growth.
Based on type, the Photo Printing Market is segmented into film printing and digital printing. The digital printing segment captured the biggest market share by type in 2022 and is likely to maintain its dominance in future years. Digital printing offers advantages such as variable data printing (VDP), fast turnarounds, cost-effective short runs, and print-on-demand. Due to its low production cost, digital printing technology has replaced lithography for most printing applications. Digital printing is expected to dominate this type of segment during the forecast period.
FIGURE 2: PHOTO PRINTING MARKET, BY TYPE, 2022 VS 2032 (USD Million)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
October 2021, The acquisition of The Wee Album Company by Digitalab Ltd, one of Europe's premier Pro Labs, was concluded. The Wee Album Company is an excellent business with an incredible product line and tremendously enthusiastic consumers and community members.
Based on Device Type, the Photo Printing Market is segmented into desktop type and mobile type. The mobile type of segment captured the biggest market share in 2022 and is likely to maintain its dominance in the future years.
The demand for mobile printing is surging owing to their portability and offer the same hi-resolution picture quality with sharp colors as desktop type photo printers. FUJIFILM Holdings Corporation developed the INSTAX Share SP-2 portable mobile printer equipped with a rechargeable battery that can be charged via a micro-USB port. This printer provides high-resolution images with a pixel density of 800x600 dots and 320 dpi to show detailed facial expressions, gradations, and objects clearly.
November 2021, Shutterfly, a developer and leading eCommerce retail and manufacturing platform for custom-made items, has announced a collaboration with Iris Apfel, the ultimate symbol of self-expression, to develop an exclusive NFT Holiday CryptoCard Collection for charity.
October 2021, Shutterfly collaborated with Marie Kondo to investigate the practice of transforming fleeting memories into treasured treasures that bring delight. From photo albums and puzzles to journals and ornaments, turning cherished events into personalized products is easier than ever
By region, the study segments the market into North America, Europe, Asia-Pacific, the Middle East & Africa, and South America. North America dominated the Photo Printing Market in 2022, with a share of 37.1% of the total market. North America accounted for the largest market share in 2022. in the North American region, particularly in countries such as Canada and the United States, owing to the rise in photo gifting and personalized printed merchandise. The United States is anticipated to have the highest contribution in the North American market owing to the presence of a large number of players such as Fujifilm Corporation, Bay Photo Lab, Nations Photo Lab, Walgreens Co., Snapfish, Mpix, Shutterfly, Inc., and Walmart Photo, coupled with an increase in the e-commerce industry. E-commerce is growing rapidly in the U.S. market.
FIGURE 3: PHOTO PRINTING MARKET, BY REGION, 2022 VS 2032 (USD Million)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
For the study, Asa-Pacific has been segmented into comprises China, Japan, India, South Korea, and the rest of Asia-Pacific. Asia-Pacific is the fastest-growing region. With the growing urbanization and rise in the disposable income of the middle and upper-middle-class in these countries, the market is expected to actively embrace photo printing devices and services over the coming years. The key players are also focusing on market expansion in the Indian and Chinese markets to strengthen their position in the Asia-Pacific photo printing market.
Europe comprises Germany, France, the UK, Italy, and the rest of Europe. The region is experiencing considerable growth, which is being driven by factors such as increasing acceptance of photo printing products and services, as well as an increasing preference for variable data print and customization, which are supporting the expansion of the photo printing market. The advancement of improved picture printing technology, as well as the availability of rapid printing, are also favorably boosting the growth of the photo printing industry. Innovative printing technologies and rising demand for printed packaging are projected to drive the picture printing industry forward.
Further, the countries considered in the scope of the Photo Printing market are the US, Canada, Mexico, UK, Germany, France, Italy, Spain, Switzerland, Austria, Belgium, Denmark, Finland, Greece, Hungary, Italy, Luxembourg, Netherlands, Norway, Poland, Portugal, Slovakia, Sweden, Romania, Ireland, China, Japan, Singapore, Malaysia, Indonesia, Philippines, South Korea, Hong Kong, Macau, Singapore, Brunei, India, Australia & New Zealand, South Africa, Egypt, Nigeria, Saudi Arabia, Qatar, United Arab Emirates, Bahrain, Kuwait, and Oman, Brazil, Argentina, Chile, and others.
Major market players are spending a lot of money on R&D to increase their product lines, which will help the Photo Printing market grow even more. Market participants are also expanding their global footprint through a variety of strategic activities such as new product releases, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. Competitors in the photo printing industry must offer cost-effective services and solutions to expand and survive in an increasingly competitive and rising market environment.
Furthermore, with the expanding number of personalized gift retailers in shopping malls and hypermarkets, the sale of such photo products will continue to rise. Additionally, the rise in smartphone ownership and the expansion of social media platforms are factors driving the growth of the picture printing market. Furthermore, rising demand for novel print packaging, as well as increased usage of advanced printing methods and materials, are propelling this market forward.
June 2023: Kodak, a leading name in the photo printing industry expands its offering of advanced materials and chemicals for the Textile Test Facility. With this, Kodak announces the opening of its textile testing facility, which will offer a wide range of testing services to academic institutions, manufacturers, and producers of textiles to evaluate a fabric's particular features and functional qualities. The product is an expansion of Kodak's recent initiative to produce light-blocking fabrics under the KODALUX brand name and makes use of the company's infrastructure and experience in sophisticated materials and chemicals. In Rochester, New York's Eastman Business Park, the business has set up a textile testing facility.
April 2023: The Eastman Kodak Company signed a partnership deal with ‘Print & Finishing Solutions (PFS)’ to be their channel partner. Kodak and PFS have come to terms with Kodak distributing throughout PFS's sales zone its whole current line of goods and system solutions for the printing sector. KODAK PROSPER Inkjet Presses and Imprinting Systems, KODAK PRINERGY Workflow Software Solutions, KODAK Offset CTP Systems, and KODAK Printing Plates will all be sold by PFS as a KODAK Channel Partner.
April 2023: Seiko Epson Corporation introduced SureLab D570 professional minilab photo printer, a top-tier minilab photo printer that delivers superior photo quality in a compact design, in April 2023. It is ideal for on-demand printing of small-format photos and is perfect for events, hospitality, kiosk, and retail settings.
July 2022: In its lineup of compact photo printers, Canon unveiled the SELPHY CP1500 in July 2022. The wireless-enabled SELPHY CP1500 offers user-friendliness and high-quality personalization of prints. It may be used to decorate living spaces with precious memories, engage in creative projects with photos or just exchange moments from a particular event. The SELPHY CP1500 is also available in white and black colors, making it look sleek and minimalistic, which enhances any place where they are placed for aesthetic purposes.
| Report Attribute/Metric | Details |
| Market Size 2023 | USD 22.15 Billion |
| Market Size 2024 | USD 24.06 Billion |
| Market Size 2032 | USD 46.5 Billion |
| Compound Annual Growth Rate (CAGR) | 8.60% (2024-2032) |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2018-2022 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Printing Device Type, End User, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, Middle East & Africa, and South America |
| Countries Covered | The US, Canada, Mexico, UK, Germany, France, Italy, Spain, Switzerland, Austria, Belgium, Denmark, Finland, Greece, Hungary, Italy, Luxembourg, Netherlands, Norway, Poland, Portugal, Slovakia, Sweden, Romania, Ireland, China, Japan, Singapore, Malaysia, Indonesia, Philippines, South Korea, Hong Kong, Macau, Singapore, Brunei, India, Australia & New Zealand, South Africa, Egypt, Nigeria, Saudi Arabia, Qatar, United Arab Emirates, Bahrain, Kuwait, and Oman, Brazil, Argentina, and Chile |
| Key Companies Profiled | Cimpress, Snapfish, Digitalab, Mpix, Perion Network Ltd, Eastman Kodak Company, Shutterfly, Inc., Bay Photo Lab, AdorPix LLC, ProDPI, Artifact Uprising LLC, Miller’s Professional Imaging, Mixbook, White House Custom Colour (WHCC) and others |
| Key Market Opportunities | Integration Of Artificial Intelligence In Digital Printing |
| Key Market Driver | Rising Adoption Of Photo Printing Products And Services Shift Towards Variable Data Print And Customization |
Photo Printing Market Highlights:
Frequently Asked Questions (FAQ) :
The Photo Printing market size was valued at USD 22.15 Billion in 2023
The global Photo Printing Market is projected to reach USD 46.5 Billion in 2032
The global market is projected to grow at a CAGR of 8.60% during the forecast period, 2024-2032.
North America had the largest share in the global market
Cimpress, Snapfish, Digitalab, Mpix, Perion Network Ltd, Eastman Kodak Company, Shutterfly, Inc., Bay Photo Lab, AdorPix LLC, ProDPI, Artifact Uprising LLC, Miller’s Professional Imaging, Mixbook, White House Custom Colour (WHCC) and others.
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Senior Research Analyst Ankit gupta is an analyst in market research industry in ict and semi industry. with post-graduation in "telecom and marketing management" and graduation in "electronics and telecommunication" vertical he is well versed with recent development in ict industry as a whole. having worked on more than 150+ reports including consultation for fortune 500 companies such as microsoft and rio tinto in identifying solutions with respect to business problems his opinions are inclined towards mixture of technical and managerial aspects.
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