PHOTO PRINTING AND MERCHANDISE MARKET ANALYSIS

Merchandising is any practice that contributes to the sale of products to a retail customer. Merchandising refers to a number of products available for the sale and displays those products in such a way that it stimulates interest in customers to make a purchase. When free samples are offered, commercial enterprise is trying to encourage customers to buy its products. The global photo printing and merchandise market focus on covered photo printing services and customized merchandise including a personalized coffee mug, drinkware, pillow, phone cases & covers, freeze magnets, and other personalized gift items.

The global photo printing and merchandise market is estimated to be valued at US$ 19,384

 million in 2021 and is expected to exhibit a CAGR of 2.6 % over the forecast period (2021-2028).

Recent Developments:

In April 2021, Eastman Kodak announced the acquisition to the assets of ECRM Incorporated’s CTP (computer-to-plate) device business for the graphic arts and newspaper industries.

In September 2020, Circle Graphics, the leader in digital graphics for online wall decor and out-of-home print production company, has acquired Bay Photo, Inc. This acquisition expands Circle's product portfolio into various segments such as metal prints, albums, and photobooks.

In November 2021, Kodak developed the ASCEND Digital Press. ASCEND Digital Press is an ideal solution for the production of retail signage.

Figure 1. Global Photo Printing and Merchandise Market Value (US$ Mn), by Region, 2020

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APEJ (Region) held dominant position in the global photo printing and merchandise market in 2020, accounting for 23.3% share in terms of volume, followed by Eastern Europe and MEA, respectively.

Market Dynamics- Drivers

Increasing number of smartphone users worldwide is expected to drive growth of the global photo printing and merchandise market during the forecast period. Rising adoption of smartphones in emerging economies such as India, Indonesia, China, and Brazil has led to increased internet penetration and popularity of social networking. Mobile manufacturers are offering smartphones with high-resolution cameras, in order to cater to requirements from modern photography. These images capturing devices majorly serve for spontaneous snapshots. Furthermore, rising trend of e-banking, mobile shopping, and bring your own device (BOYD) is boosting the demand for smartphones worldwide. According to Coherent Market Insights’ analysis, smartphone shipments across the globe increased from 1.1 billion units in 2013 to 1.2 billion units in 2014. Of the overall shipments, 45% were smartphones units shipped to China in 2014.

Enhanced broadband infrastructure is expected to propel the global photo printing and merchandise market growth over the forecast period. Enhancements and technological developments in broadband infrastructure have led to significant improvement in broadband speed. Furthermore, increasing internet penetration and affordability of these services is expected to increase the consumption of media content via various devices.

Market Opportunities

Growing focus of manufacturers on photo printing kiosk can present lucrative growth opportunities. Many manufacturers are focused on introducing photo printing kiosks with improved connectivity features. For instance, in March 2012, Fujifilm Group introduced SmartPix photo kiosks with NFC (Near-field communication) capabilities that enable customers to print digital photos instantly. This product was introduced primarily for the market in the U.K. and was launched across supermarkets, pharmacies, camera shops, and other retail outlets.

Increasing emphasis of e-commerce companies on online photo printing services can provide major business opportunities. A number of e-commerce companies are focused on offering online photo printing services, in order to expand their consumer base. For instance, in 2016, Amazon.com Inc. announced plans to introduce ‘Amazon Prints’, which is an online photo printing service, that enables customers to print digital photos, order photo books, and stationery products in order to enhance its product portfolio and customer base.

Market Trends

Major companies in the market are focused on partnership and collaboration activities, in order to gain a competitive edge in the market. For instance, in October 2016, Eastman Kodak Company partnered with Bullitt Group, a U.K.-based mobile manufacturer, and marketer introduced the Kodak Ektra smartphone, which is a photography-led smartphone. Furthermore, in November 2016, Cimpress N.V. partnered with The Economic Development Authority of Western Nevada, U.S., and inaugurated a manufacturing facility in Reno, U.S. The company manufactures customized products for print-sellers, graphic designers and small & business enterprises at this plant.

Key players operating in the market are focused on merger and acquisition activities, in order to enhance the market presence. For instance, in December 2016, Cimpress N.V. acquired National Pen Co. LLC, which is a U.S.-based manufacturer and marketer of writing instruments, for US$ 218 Mn. Moreover, in November 2014, Shutterfly Inc. acquired GrooveBook, which is a U.S.-based photo-printing app and subscription service provider, for US$ 14.5 Mn, with the objective to increase its subscriber base to 50,000.

Figure 2. Global Photo Printing and Merchandise Market Share, By Type, 2020

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Key Takeaways of the Graph:

• The digital printing segment held dominant position in the market and accounted for 368.9% share in the global photo printing and merchandise market in 2020. The segment is expected to reach US$ 16,808 million in 2028, owing to increasing demand of smartphone.

Market Dynamics- Restraints

Declining roll film market is expected to restrain growth of the global photo printing and merchandise market during the forecast period. Since digital films have entered the market, the global roll film market has been on a rapid decline. Consumers are increasingly preferring digital images over physical photos.

Low quality and high cost of dye-sub printing is expected to hinder the global photo printing and merchandise market growth over the forecast period. Dye sublimation photo printers adopt thermal printing technique, in order to diffuse dye onto the paper and used for high quality and instant photos. These devices and photo printing services are comparatively expensive than conventional inkjet printers and thus are primarily used for photo printing. Furthermore, inkjet printers offer poor print quality, which in turn, is expected to hinder the market growth over the forecast period.

Competitive Section

Key players operating in the global photo printing and merchandise market are Eastman Kodak Company, Mpix, Market Evolution, AdoramaPix LCC, Cimpress N.V., Digitalab, Shutterfly, Inc., Bay Photo Inc., and Snapfish.

Key Developments

1. Key companies in the market are focused on product launches, in order to expand the product portfolio. For instance, in August 2019, Eastman Kodak Company launched M1 Order Station, a photo printing machine.

Major market players are involved in mergers and acquisitions, in order to gain a competitive edge in the market. For instance, in June 2019, Apollo Global, a U.S.-based private equity fund, acquired Shutterfly, Inc., a U.S.-based image sharing company.