Commercial Printing Market – Growth, Trends, COVID-19 Impact, and Forecasts (2022 – 2027)

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The Global Commercial Printing Market was valued at USD 433. 79 billion in 2021, and it is projected to be worth USD 484. 22 billion by 2027, registering a CAGR of 1. 74% during the forecast period 2022 – 2027.

New York, Aug. 23, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Commercial Printing Market – Growth, Trends, COVID-19 Impact, and Forecasts (2022 – 2027)” – https://www.reportlinker.com/p06020223/?utm_source=GNW
The commercial printing market is poised for remarkable growth over the next five years. Technological proliferation, along with rising applications, is anticipated to encourage the demand globally. The growing advertising needs of enterprises worldwide and extensive technological proliferation currently represent the key factors driving the market growth. Organizations are increasingly adopting commercial printers, as they are more cost-effective and efficient for bulk printing.

Key Highlights
The inclusion of customized marketing messages in promotional and marketing strategies is one of the drivers in the commercial printing industry. This is creating a significant demand for personalized printing content, which is being catered by commercial printing companies that use digital printing technologies. Such technologies include variable data printing (VDP), which enables the customization of images, text, and graphics on each printed piece of their content. The steady prominence of the short-run self-publishing industry results in high demand for digital printing due to its beneficial aspects, such as order flexibility, optimized stock handling, and minimization of time-to-market for printed content. This may also contribute to the commercial industry’s spending growth.
The need for short-run production for a wide range of applications is increasing rapidly for commercially printed materials, such as books, direct mail, brochures, and catalogs. For instance, in direct mail, the conventional practice was to send the same message to many customers. However, digital marketing utilizes data to customize printed messages according to persons person’s interests, resulting in higher customer satisfaction
Sustainability is becoming increasingly important today’s today’s businesses, and commercial inkjet products are gaining traction as they use less power, produce less carbon dioxide, and are associated with cleaner air as they do not emit toner dust. Many companies are investing in an inkjet printer to enhance their offerings, personalize packaging and messaging, aid clients in promoting their brand, and meet the seasonality of their demand. For instance, in 2021, DS Smith Iberia installed the EFI Nozomi C18000 Plus six-color single pass-LED inkjet printer in its facility in Lisbon, Portugal. The productivity of the Nozomi is expected to reduce the time to market and offer a printing quality equivalent to that of offset printing without the need for litho lamination.
The printing industry has historically been labor-intensive, with a strong relationship between the trend in turnover and employment. Machinery design, digitalization, and computerization have significantly contributed to improving productivity and transforming this industry so that growth capacity is no longer linked to direct work. However, the rising raw material costs during the procurement process limit several players players’ operability. The Raw materials used in commercial printing include paper, inks, printing materials, and other chemical products. The feedstock prices are dynamic and fluctuate based on several socioeconomic factors, thus hindering the business activity of the companies operating in the studied market. The historic market period was tumultuous for the purchasing departments of ink manufacturers.
Demand for commercial printing has reduced during the COVID-19 outbreak. Many events have been canceled, leading to lower promotional materials demand. Many organizations have also moved to remote working, which may boost the trend toward paperless operations. Additionally, with customers spending more time online, advertisers are opting for digital media over other forms of media. Although event cancelations and remote work are expected to be temporary measures until the COVID-19 situation is under control, they may cause a lasting loss in demand for printed materials.

Key Market Trends

Packaging Segment Expected to Witness Significant Growth

Folding cartons, flexible packaging, and label printing are the three packaging applications that require printing and cutting, with folding cartons adding a few more processes to the file preparation (structural CAD files) and finishing (die-cutting, folding, gluing).
With a rise in the digital delivery of information, commercial printers have been observed to be imbibing digital technologies to enhance packaging print quality. Quick response (QR) codes have become a basic/mainstreamed print on product packaging to be scanned with a smartphone for additional display of data, such as product info and promotional content, to name a few.
Additionally, the demand for printing from packaging and labels for pharmaceuticals, tobacco products, and alcoholic beverages is expected to increase, as the companies have to comply with dynamic government regulations and protect against counterfeiting frequently.
Increased cooperation among the convertors and retailers surrounding packaging has led to the development of innovative ways of customer enticement. Online shopping and curating personalized experiences have further aided the market for commercial printing in the packaging domain. Owing to this, many packaging companies are investing in commercial printing solutions, thus boosting the growth of the market.
Furthermore, the booming e-commerce market across the world offers a lucrative opportunity for commercial printing providers, as e-commerce players are rapidly adopting innovative printing solutions for their day-to-day packaging. As e-commerce grows, its relative share to brick and mortar retail sales, the allied stakeholders, from logistics to warehousing to retail brands, have begun to invest in technologies unique to the specific needs of e-commerce.
In October 2021, Xeikon announced two new label presses, the Xeikon PX3300 and Xeikon PX2200, as part of an expansion of its Panther UV inkjet technology portfolio and aimed at advancing the digitization of print manufacturing. According to the company, the Xeikon PX2200 and PX3300 use the company’s Panther DuraCure UV technology to produce high-gloss labels with high scruff resistance. This reportedly offers a wide color range and long-term durability for applications, including industrial, chemical, and household labels, as well as high-end labels for premium beverage and health and beauty sectors.
Such developments, with innovative and sustainable printing, offer a promising future for commercial printing in the packaging industry. In addition, growing investment, mergers, and collaboration activities among commercial printing providers and packaging providers will enhance the product offering by catering to more demand, thus boosting the growth of the studied market.

Asia Pacific Accounts for a Significant Market Share

The Asia Pacific region accounts for a significant market share due to increasing demand from critical regions, like China, India, the Philippines, Vietnam, and Thailand. Factors such as the inception of new technologies, changing lifestyles, rise in e-commerce, and urbanization, are driving the growth of the printing market in the region.
Factors such as the inception of new technologies, changing lifestyles, and the rise in e-commerce and urbanization, are driving the growth of the commercial printing market in the region. Moreover, Increasing processed and canned food demand in emerging countries such as China and India is expected to impact the market in the region positively. Increasing disposable income resulting in the growing demand for interior design with customized wallpapers is slated to drive demand and market growth.
However, the Chinese economy has experienced astonishing growth in the last few decades, which catapulted the country to become the world’s second-largest economy. The Chinese population is the largest and growing. Simultaneously, the economy is growing at a consistently high rate. Being home to major manufacturers and attracting the likes of multiple Fortune 500 companies, the Chinese commercial printing market and the opportunity for digital printing technology adoption have gained significance.
In addition, according to the Confederation of Indian Industry (CII), India is anticipated to become the fifth-largest consumer market by 2025. Also, according to an ASSOCHAM-EY joint study, India’s print and packaging industry is expected to grow to USD 72.6 billion by 2020, registering a CAGR of 18 %. The All-India Federation of Master Printers (AIFMP) estimates that the country will have more than 250,000 MSMEs and big printers. The data from AIFMP also suggests that commercial printing in the country is growing at an annual rate of around 10%, while digital printing is growing at a robust growth rate of 30%.
According to the Indian Printing, Packaging and Allied Machinery Manufacturers’ Association (IPAMA), the packaging industry will continue to grow due to the rapid changes undertaken by the industry players. The e-commerce boom and organized retail sector in the country offer massive potential for future packaging growth, thereby supporting the commercial printing industry. Other factors, such as booming economy across the various countries in the region, increasing consumerism, entry of global brands, and rising interest of foreign investors, are bound to offer growth opportunities to the industry.

Competitive Landscape

The Commercial Printing Market is fragmented due to the presence of many global and regional players. Also, market penetration is growing with a strong presence of major players in established markets. Considering the homogenous nature of market products, many firms operating in the market are further being driven to compete on price.

These factors have led to high rivalry in the commercial printing industry. Competition is thriving in the printing services sector because companies are under pressure to achieve significant savings and be as innovative as possible.

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May 2022 – RRD announced the launch of Helium, an editorial solutions service providing access to specialized copywriting, content strategy, and project management professionals. This service provides brands a centralized access point to hundreds of subject matter experts in content generation.

Additional Benefits:

The market estimate (ME) sheet in Excel format
3 months of analyst support
Read the full report: https://www.reportlinker.com/p06020223/?utm_source=GNW

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