The global commercial printing market is expected to touch revenue of almost USD 317 billion by 2022, according to a forecast released by ReportsnReports.com, an online market research agency.
The report titled, “Global Commercial Printing Market 2018-2022,” says that one of the growth drivers for the commercial printing market is steady increase in sales of paperback books. The report highlighted that the demand for paperbacks is getting revived after facing competition from e-Books. In 2016, the sales of physical books in the UK had shown an increase of 4%, while eBooks shrank by 2% in the same year. And in the US, the sale of physical books rose by 3%, while the sales of eBooks saw a decline in 2017. “The steady shift toward physical books over eBooks will positively impact the market for commercial printing in 2017,” says the report.
According to the Report, one trend in the market is “forward integration of vendors”. “The vendors in the commercial printing market will look to forward integrate during the forecast period. Apart from providing print products and services, the vendors will look to expand its services to areas such as media services, digital technologies, management services, and logistics,” the report said.
The report notes that the “commercial printing market is significantly fragmented due to the presence of numerous international and regional vendors.” Overcapacity of vendors and pricing pressures makes the highly competitive. “Product obsolescence, expansion of commodity materials, and cheaper material imports are the major challenges faced by commercial printing companies,” the report noted, adding, “The players in this printing services market compete intensely based on price, quality, innovation, and regulatory compliance.”
And in India, value addition is fast catching up and today without value addition (be it UV special effects, foiling, lamination, spot UV, etc) ‘commercial printed’ product has no value (both commercial and packaging products.