COMMERCIAL PRINTING MARKET ANALYSIS

The global commercial printing market size was valued at US$ 444.25 million in 2022 and is anticipated to witness a compound annual growth rate (CAGR) of 1.74% from 2023 to 2030. Growing demand from retail sector for packaging and labelling applications are fuelling growth of the commercial printing market. Moreover, key players are focusing on introducing eco-friendly printing technology is again propelling market growth. Furthermore, expanding e-commerce sector is expected to open new avenues for the global commercial printing market.

Global Commercial Printing Market: Regional Insights

Based on geography, the global commercial printing market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Regionally, North America is expected to dominate the global commercial printing market over the forecast period owing to the increasing focus on innovation in printing sector and growing spending on advertisement. For instance, in February 2022, Konica Minolta Business Solutions U.S.A., Inc. (Konica Minolta), a marketer in industrial and commercial printing and packaging solutions, announced the launch of its AccurioJet KM-1e High Definition (HD) model, an evolution of the AccurioJet KM-1e LED UV Inkjet Press that will contribute to further expanding Konica Minolta customers’ businesses.

Asia Pacific is the second largest region in the global commercial printing market owing to the rapid urbanization and growing e-commerce sector. Due to the increased use of online shopping, the need for personalized experiences has risen. This trend has resulted in an increase in demand for custom products and packaging, which has a positive impact on the growth of the commercial printing market.

 Figure 1. Global Commercial Printing Market, By Region 2022

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Global Commercial Printing Market Drivers:

Growing demand for promotional activities such as advertising across retail sector to foster market growth

High-quality commercial printing helps users to create a lasting impression on their target audience. The printing industry is an important part of any business's marketing strategy and offers a wide range of services to meet the needs of customers. The services offered include designing, printing, fulfillment and finishing. These services are provided on various substrates, such as paper, plastic, and canvas.

Growing demand for eco-friendly printers for reducing environmental impact to propel market growth

The major factors driving growth of the global commercial printing market are technological advancements and the increasing demand for eco-friendly printers. To cater to growing demand, key players are introducing environmentally printing solution. For instance, in April 2023, HP Inc., a PC and printer tech behemoth, launch a new line of LaserJet printers with sustainable TerraJet toner that delivers up to 27% less energy use and 78% less plastic packaging

Global Commercial Printing Market Opportunities:

Growing popularity of print-on-demand is expected to provide significant growth opportunities. Print-on-demand (POD) is a business model that allows to customize and sell products on a per-order basis. It’s a great way to test out a new idea or new product line without the upfront investment and risk of purchasing inventory. In addition to these benefits, print on demand is environmentally friendly. It uses water-saving printing techniques and ships products in plastic-free packaging to reduce its environmental impact.

Increasing demand for lithography printing from packaging application is expected to serve major growth opportunities. Lithography is a process that uses a metal plate to hold the image that needs to be printed on paper. The plate is then inked and transferred to a rubber blanket before it is sent to the printing surface. It is a common method for producing high-quality, low-cost, and long-lasting prints.

Global Commercial Printing Market Trends:

LED UV printing is a recent trend

LED UV printing is a newer method of commercial printing that uses ultraviolet light to cure the ink on a substrate. It is eco-friendly, and it can produce beautiful results without bleeding or fading. The printing industry is changing rapidly because of advancements in technology, such as computerized imaging and specialized inks for specific applications. These innovations are helping companies to print items faster and more affordably.

Increasing investment in printing technologies

Companies are investing in printing technologies to increase their reach and improve their marketing capabilities. They are also seeking to improve their order turnaround and uptime, which can lead to a greater customer base. This trend is likely to continue as more consumers seek to connect with their favorite brands and increase the personalization of products they buy. This can also benefit the global printing market as more businesses are able to offer customers more personalized products and services.

Global Commercial Printing Market Restraints:

Growing share of digital printing market to restrict market growth

With the growing trend of digitization due to increasing internet connectivity the demand for commercial printing is declining. This can save time and money, especially for large print runs. This factor is expected to hamper the market growth over the forecast period.

Increasing raw material prices to restrict market growth  

The ink industry is highly susceptible to price volatility due to higher tariffs and transportation cost. For instance, in August 2020, the INX International Ink Company introduced a price increase on all solvent inks and coatings. The company also intimated to its customers in North America that the price of solvents may continue to increase.

Figure 2. Global Commercial Printing Market, By Printing Type 2022

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Global Commercial Printing Market Segmentation:

The global commercial printing market report is segmented into printing type, application, and geography

Based on printing type, the market is segmented into Offset Lithography, Inkjet, Flexographic, Screen, Gravure, and Other Types. Out of which, Offset Lithography is expected to dominate the global market over the forecast period. This method uses metal plates to transfer an image onto the desired substrate. It's one of the oldest types of printing, and it still has a lot of popularity today.

Screen segment is also expected to witness significant growth in the near future. This is another type of intaglio printing, and it works similarly to lithography. However, this method differs in that each color is printed individually, rather than on a single screen. It can be an extremely effective method for creating a variety of effects, but it can be difficult to achieve consistent results with this type of printing.

Based on application, the market is segmented into Packaging, Advertising, Publishing, and Publishing. Out of which, Packaging is expected to dominate the global market over the forecast period and this is attributed to the flexible packaging, folding cartons, and print label are three major applications of commercial packaging. With the rise in demand for delivery information, commercial packaging have gained so much traction. QR code have become basic print on any product packaging for additional display of data.

Advertising segment is also expected to witness significant growth in the near future and this is owing to the growing need for advertising across enterprises along with the advancement in the technology. Commercial printing is cost-effective solution for bulk printing.

Global Commercial Printing Market: Key Developments

In July 2022, Toppan has been recognized for consideration in several top indexes in recognition of its exceptional Environmental, Social, and Governance (ESG) performance. The FTSE4Good Index Series, the FTSE Blossom Japan Index, and the FTSE Blossom Japan Sector Relative Index were created by FTSE Russell. The MSCI Japan Empowering Women Index (WIN) was created by MSCI Inc., and the S&P/JPX Carbon Efficient Index was created in collaboration with the Japan Exchange Group.

In June 2022, Toppan created a hologram that responds to bright light by displaying text and images. This enabled verification easier for those who do not have specialized hardware or a QR Code1.

Global Commercial Printing Market: Key Companies Insights

The global commercial printing market is highly competitive. This is attributed to continuous launch of new technologies due to ongoing R &D and efforts by value chain participants. Moreover, key players are adopting various business growth strategies in order to expand their presence on regional as well as global basis. Some of the key players in the global 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

*Definition: commercial printing is fast and efficient way to produce advertising material. This is especially helpful when there is a requirement to produce materials for a time sensitive project. They can also help to save money on printing costs