The global commercial printing market size is expected to reach USD 583.34 billion by 2030, expanding at a CAGR of 2.2% from 2022 to 2030.
Report Attribute
Details
No. of Pages
120
Forecast Period
2022 - 2030
Estimated Market Value (USD) in 2022
$488.9 Billion
Forecasted Market Value (USD) by 2030
$583.34 Billion
Compound Annual Growth Rate
2.2%
Regions Covered
Global
The rising demand for commercial printing for producing promotional material such as brochures, flyers, newspaper inserts, and pamphlets, among others, is expected to be one of the driving factors for the target market growth. The demand for commercial printing spans several industries, including manufacturing, advertising, food and beverage, retail, and healthcare.
The growing advertising needs of businesses contribute significantly to the demand for commercial printing of advertising materials. Commercial printing primarily involves printing on different types of paper and canvas for packaging, publishing, or advertising needs. Typesetting, bookbinding, fulfillment services, designing services, and finishing, which include folding, cutting, and binding, are some of the ancillary services provided by the market players, along with printing services. The fulfillment services include packaging, storage, and delivery of the printed material services.
The growth of online shopping and the demand for personalized experiences have boosted the demand for commercial printing from the packaging sector. Packaging is considered one of the most important marketing tools, and hence businesses are utilizing packaging to display products' best features. Also, the packaging is being used as a tool to create an unboxing experience for the users.
As a result, many packaging companies are investing in high-technology commercial printing solutions. For instance, in October 2022, Comexi, a flexible packaging service provider, announced the launch of Digiflex, a machine designed for flexible packaging and label converters to print variable data such as QR codes, data matrix variable codes, barcodes, alphanumeric text, and other numbering & marking applications.
The COVID-19 pandemic severely impacted the commercial printing market. The pandemic led to reduced demand for commercial printing as businesses, and their operations were halted. Furthermore, the outbreak disrupted the supply chain and led to an increase in costs of raw materials and labor, and also severely impacted the distribution, which in turn impacted the growth of the target market negatively.
The advent of digital media is restricting the growth of the target market as it continues to replace print media with digital media. Users are adopting the digital form of books and magazines instead of the printed medium. Also, businesses are utilizing digital media for advertising purposes. Despite the impact of digitization, the print industry is, however, pivoting its business models by taking into account the changing needs, trends, and new realities of the market.
Commercial Painting Market Report Highlights
The digital printing segment is expected to grow at the fastest CAGR of 3.4% during the forecast period. The rising awareness of digital printing across various sectors, such as educational establishments, among others across the globe is fueling the segment's growth
The packaging segment held the largest market share of about 54% in 2021 and is expected to maintain its dominant position over the forecast period. The development of the segment can be attributed to the increasing demand for packaging products
Asia Pacific is expected to register the fastest growth of 2.7% over the forecast period. The booming e-commerce industry across the region is expected to play a decisive role in driving the development of the regional industry
