Who are the key vendors in the Commercial Printing Market?

Competitors are heavily investing in research and development practices. The market's product homogeneity is compelling many participants to engage in price-based competition. Consequently, fierce competition has emerged in the target market. Moreover, companies are facing pressure to cut costs while fostering innovation, leading to thriving competition within the print services sector. 'Quad/Graphics Inc.(US)', 'Acme Printing(Sri Lanka)', 'Cenveo(US)', 'RR Donnelley (US)', 'Transcontinental Inc.(US)', 'LSC Communications US, LLC.(US)', 'Gorham Printing, Inc. (US)', 'Dai Nippon Printing(Japan)', 'The Magazine Printing Company(India)', 'Cimpress plc(France)', 'Quebecor World Inc.(Canada)', 'Duncan Print Group(UK)'.

What is the key driver of Commercial Printing Market?

Print advertising plays a prominent role in driving the growth of the commercial printing industry. It serves as a key component in comprehensive marketing strategies adopted by retail companies to target their specific markets. Interestingly, a recent Adobe survey of 1,250 U.S. consumers brought attention to a noteworthy challenge faced by online or digital marketing, as it struggles to capture people's attention effectively. In contrast, print-based advertisements have shown to garner greater customer attention. Notably, an advertisement featured in a magazine can continue to promote a product or service for an extended period, lasting for months or even years, as long as the magazine remains in circulation.

What is the key market trend for Commercial Printing Market?

Advancements in Technology and Growing Demand: The digital printing industry is expected to witness significant growth during the projected period due to the rapid adoption of laser and inkjet printing solutions in the paper and packaging sectors, primarily driven by their adaptable and cost-effective features. The global utilization of Internet of Things (IoT) and Artificial Intelligence (AI)-based technologies is also anticipated to fuel the digital printing market. Furthermore, the increased usage of digital printing in consumer electronics, such as smart thermostats, is projected to boost the demand further, resulting in rapid expansion of the worldwide digital printing market in the coming years.

Which region accounted for the largest share in Commercial Printing Market?

Asia-Pacific holds the highest share of revenue contribution and is projected to experience a Compound Annual Growth Rate (CAGR) of 2.30% during the forecast period. The region's significant revenue growth is driven by the increasing demand for commercial printing in emerging economies like India, Japan, China, Indonesia, Bangladesh, and Thailand. Various factors contribute to the expansion of the printing market in the Asia-Pacific region, such as the adoption of new technologies, evolving lifestyles, the growth of e-commerce, and rapid urbanization.With a substantial and rapidly growing population, along with a consistently expanding economy, China plays a pivotal role in the region's printing industry. The Chinese commercial printing sector, in particular, holds significant importance and has shown potential for adopting digital printing technology. This is mainly due to housing major manufacturers and attracting numerous Fortune 500 companies, further fueling the growth prospects of the Commercial Printing Market in the Asia-Pacific region.

Commercial Printing Market Size, Share, Growth Analysis, By Technology(Digital printing, Lithography Printing, Flexographic, Screen Printing), By Application(Packaging, Advertising, and Publishing), By Region - Industry Forecast 2024-2031

Report ID: SQMIG45O2031 | Region: Global | Published Date: October, 2024
Pages: 157 | Tables: 66 | Figures: 67

Commercial Printing Market News

In June 2023, TC Transcontinental Printing, Transcontinental Inc. acquired 10% of its shares. part, announced a capital investment of US$1.5 billion. This investment complements the US$10 million allocated between 2019-2020 and includes the integration of new media equipment. As a result, the facility has successfully doubled its hardcover binding capacity and increased its overall production capacity by approximately 15%.
In December 2022, Canva announced a partnership with Creatively Holdings Inc. (Creatively), an online entrepreneurship and creative agency. The purpose of the partnership was to provide resources and opportunities for creative professionals. The partnership between Canva and Creatively represents an important step in supporting creative professionals.
In October 2022, Printful, Inc. announced a partnership with Pietra, an e-commerce platform, to provide new opportunities for customizable and branded products for more than 60,000 businesses. This partnership gives manufacturers access to a global market. They can use an on-demand production model, allowing them to experiment with new products and grow their ecommerce business.

Commercial Printing Market Report Snapshots

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FAQs

Commercial Printing Market size was valued at USD 480.13 billion in 2022 and is poised to grow from USD 494.53 billion in 2023 to USD 626.46 billion by 2031, growing at a CAGR of 3.0% in the forecast period (2024-2031).

The competitive landscape in the commercial printing market is characterized by well-established global players and many regional companies competing in packaging, advertising, printing, digital printing segments. Collaboration is also common in the commercial publishing environment, allowing companies to leverage each other’s strengths, diversify service offerings and drive market growth. For example, Canon Solutions America and McClung Companies collaborated to incorporate Canon's high-speed inkjet technology. It can also provide cost-effective services, especially in high-demand areas. 'Quad.com (US) ', 'Cenveo Worldwide Limited (US) ', 'Acme Printing (US) ', 'R.R. Donnelley & Sons Company (US) ', 'Transcontinental Inc. (Canada) ', 'LSC Communications LLC. (US) ', 'Gorham Printing, Inc. (US) ', 'Dai Nippon Printing Co., Ltd. (Japan) ', 'Mixam UK Limited (UK) ', 'Cimpress (Ireland) ', 'Quebecor (Canada) ', 'Duncan Print Group (UK) ', 'Vistaprint (Cimpress PLC) (Ireland) ', 'Toppan Co. Ltd (Japan) ', 'Bertelsmann S.E. and Co. KGaA (Germany) ', 'Ennis Inc. (US) ', 'The Magazine Printing Company (US) ', 'HH Global (UK)'

The increasing need for packaging and labeling in various industries especially food and beverage, healthcare and consumer goods are an important driver of the commercial printing market. This demand has encouraged the development of digital printing technologies that can provide faster, more customized, and more efficient printing. As a result, commercial printing companies are constantly investing in equipment that meets the evolving needs of these industries and allows for shorter and more personalized print runs.

Rise of Eco-Friendly Printing Solutions: As environmental cognizance will increase among clients and agencies, the demand for environmentally friendly printing solutions will increase. This trend is reshaping the enterprise as greater gamers to meet international sustainability desires for printing names. The growing business printing marketplace fashion of green printing is anticipated to draw more eco-aware purchasers and improve market growth. Companies are adopting the sustainable printing techniques such as the waterless printing, recyclable inks and biodegradable substances to meet the regulatory requirements and client expectancies.

North America is the dominating region in the commercial printing market accounting for 33.16% of the worldwide sales. The growth of the region is attributed to the high demand for business printing, for packaging, labeling and the marketing functions. In addition, the entry of key players inside the enterprise, along with Acme Printing, Cenevo, Quad/Graphics Inc., RR Donnelley, is expected to further improve the commercial printing industry. Technological advances in the printing equipment and software improve the quality of print, color accuracy and variable data capabilities continue to improve, leading to increased acceptance of the printing.

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