Market Overview:
The commercial printing market involves production of various printed materials for promotional and advertising purposes. Key products in the market include brochures, flyers, advertisements, catalogs, business cards, and packaging among others. Advantages of commercial printing include ability to customize designs and content as per client requirement, versatility to print on different substrates, enhanced brand visibility through distribution of printed collaterals and cost-effective promotional tool for small businesses. Rise in promotional and marketing activities across industries is a major factor driving demand for commercial printing services.
Market key trends:
One of the key trends gaining traction in the commercial printing market is shift towards variable data and digital printing. Variable data printing involves personalization of content and images on printed pieces according to individual recipient. This increases relevance and engagement with target audience. Growing preference for small volume, customized printing is boosting adoption of digital printing technologies. Integration of artificial intelligence, IOT and analytics is also gathering pace to enhance personalized customer communications through printed marketing collaterals.
The global Commercial Printing Market Demand is estimated to be valued at US$ 451.98 Bn in 2023 and is expected to exhibit a CAGR of 1.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Porter’s Analysis
Threat of new entrants: The commercial printing industry requires high capital investments in machinery and equipment. Established players have adopted digital technologies providing a competitive advantage reducing threat of new entrants.
Bargaining power of buyers: Buyers have moderate bargaining power. They can negotiate on pricing and demand discounts for bulk orders. However, switching costs are relatively low.
Bargaining power of suppliers: Suppliers of printing materials like paper and inks have moderate bargaining power. Established suppliers have scale and strong relationships limiting opportunistic behavior.
Threat of new substitutes: Digital technologies offer alternatives for design and short-run printing. However, commercial printing is still needed for long-run, high volume books and catalogs limiting threat of substitutes.
Competitive rivalry: The industry has many players operating at regional and local levels. Companies differentiate based on service quality, customization and strong client relationships.
Key Takeaways
The global commercial printing market is expected to witness high growth, exhibiting a CAGR of 1.7% over the forecast period 2023 to 2030, due to increasing demand for short-run and personalized printing. North America dominated the market in 2023 led by U.S, accounting for around 35% share. Growth in Asia Pacific is anticipated to be fastest driven by expanding publishing and packaging sectors in China and India.
Regional analysis
Asia Pacific region is expected to witness fastest growth in the commercial printing market during the forecast period. Expanding publishing and packaging industries especially in populous nations such as China and India are driving the growth of commercial printing. Growing middle class, rising literacy rates, and changing lifestyles are increasing the demand for books, magazines, brochures and printed packaging in the region.
Key players
Key players operating in the commercial printing market are ACME Printing, Cenveo Corporation, R.R. Donnelley & Sons, Vistaprint (CIM PRESS PLC), Toppan Co Limited, Transcontinental Inc., and LSC Communications US LLC. R.R. Donnelley & Sons stands out as the largest player by revenues, having a strong presence across packaging, publishing, and financial printing segments in North America.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it