Industry News | July 07, 2020
Commercial Printing Market Report
The "Commercial Printing Market - Growth, Trends and Forecasts (2020-2025)" report has been added to ResearchAndMarkets.com's offering.
The Global Commercial Printing Market was valued at US$400.46 billion in 2019, and it is projected to be worth US$460.28 billion by 2025, registering a CAGR of 2.24% during the period 2020-2025.
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. Further, 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 exact same message to many customers.
It is expected that 72% of corporations utilize direct mail campaigns. Direct mail campaigns are relatively inexpensive and are a great way for companies to keep their image and services in the public eye. This aspect of printing is expected to continue an upward trend in the future.
Increased demand for promotional materials from the retail, food and beverage industries is driving the market. The commercial printing market is being driven majorly by several promotional activities such as print advertising. Retail businesses that understand their target markets are including print advertising as part of an overall marketing strategy. Further, a recent Adobe poll of 1,250 U.S. consumers underlined the ongoing problem with online or digital promotions failing to capture people's attention, with print-based ads garnering increased consumer attention.
In addition, the Food & Wine magazine is experiencing growth across its brand with a newly enhanced print product. With the publication of its April 2020 California Wine print issue, it attracted new advertisers in 2020, including Ford, LG Signature Series, Silversea Cruises, Sub Zero, St. Regis, and Raymond James. It reported that print ad revenue increased 18% year-over-year between January and April of 2020 and 2019.
Introduction of eco-friendly practices, reducing the printing industry's impact on the environment drives the market. The market is experiencing major changes in activities and processes, such as slowly being replaced by sustainable systems. Several new initiatives are being implemented for printing industries by taking the major environmental impacts into prime consideration. Vegetable inks are environment-friendly ink made from vegetable oils. Although vegetable-based inks take a long time to dry, such inks are considered better in terms of performance because of drastically reducing the amount of VOCs as these are prepared from the vegetable oils. These inks release approximately 2-4% VOC emission, which is very less comparatively solvent-based inks.
Also, many commercial printing houses are implementing recycled paper in their processes. In March 2020, Verso Corporation introduced Velocity, a coated value web paper ideal for a variety of commercial web offset printing applications, including magazines, catalogs, high-end retail inserts, direct mail and lightweight mailings. It is being made available with recycled content and FSC paper that are sustainable and eco-friendly.
However, demand for commercial printing has reduced during the COVID-19 outbreak. Heidelberg released a report on the current state of the global print industry during the COVID-19 outbreak. According to the report, during the COVID-19 outbreak, print production in China fell by up to 80% compared to normal volumes but recovered as the infection curve fell and is now back to last year's levels in both the commercial and the packaging/label segments. In addition, some printers witnessed increased demand for COVID-19 related signage from retailers, who want to assure customers that they are taking necessary safety precautions. Others are turning to print items like plexiglass shields.
Business/Growth Strategies Press Release Trade Printer Direct Mail Digital Printing Wide Format Promotional Products Specialty Printing Sustainability COVID-19