The Advertising Printing Market
The global advertising printing market is estimated to be worth US$ 67.3 billion in 2020, according to a new report published by the IMARC Group. However, the report predicts a deteriorating market over the next five years, as COVID-19 will harm the sector. To help investors make informed decisions, the report identifies key players, their company profiles, SWOT analyses, latest developments, and business plans.
The fashion industry is driving the market. Leading fashion brands have opened more than 1,300 environmentally-friendly stores worldwide since 2007. By 2020, they are expected to convert all their stores to the eco-efficient model. This is expected to boost the advertising printing market in the region—another important region in the Asia-Pacific region, which accounts for a large portion of the market. Growing e-commerce and new technologies have fueled the growth of this region.
In China, the government-controlled an epidemic, resuming commercial activities and publicity posters. The indoor and outdoor advertising printing market remained steady from the second quarter. The demand for large format advertising printers was indirectly stimulated for three quarters. In the U.S., the growth in the market is attributed to the increasing number of companies selling electronic and digital signage solutions. This growth has been primarily due to the growth in the Chinese market.
The retail industry is the most important driver of the advertising printing market. As a result of the booming economy and the growing awareness of their target markets, these industries are increasingly integrating print advertising into their marketing strategies. A recent survey by Adobe showed that digital promotions fail to attract consumers’ attention. Conversely, print ads are more trusted by consumers. The growth in print advertising is expected to continue over the next five years.
In addition to the retail sector, the retail market is also driving growth in the advertising printing market. The emergence of augmented reality is fueling new trends in the print advertising distribution industry. The trend is merging print and digital and creating some incredible campaigns. Retailers can now offer consumers a virtual shop window on printed marketing materials with this new technology. This trend is sure to make the advertising printing industry even more exciting. The potential for creative and compelling campaigns will only continue to increase.
Trends in the advertising printing market will continue to evolve. Technological advances will continue to drive the growth of the market. For instance, ink and paper are the most expensive industry. Hence, the Asian region is expected to grow much higher than the North American and European markets combined. The Asian-Pacific region is expected to be the fastest-growing region in the next five years. In the coming years, the market will grow at a CAGR of about 4%, as the most important regions for the industry are China, India, and Australia.
The growth of the advertising printing market will depend on factors such as the economic conditions in emerging markets and the type of products available. In the United States, the retail industry is a major driver. Many companies in this region also focus on the food and beverage industry. Therefore, the commercial printing market will experience significant growth in the region. The growth of the apparel and retail markets is also a factor in the manufacturing sector. Changing lifestyles and the growing global population generate demand for printed materials in the Asia-Pacific.
The food and beverage industry is also driving the growth of the advertising printing market. The food and beverage industry is one of the largest apparel consumers and has the highest per-capita revenue of any sector. However, many retailers have begun to use print advertisements as an essential part of their marketing strategies. As a result, these companies are becoming more environmentally conscious. The trend of adopting green technologies is expected to continue to benefit from an increase in the overall size of the global market.
The emergence of new technology and innovation is driving the growth of the advertising printing market. In the past decade, technological advancements in large format printing have led to numerous innovations in this sector. Today, the industry has grown in size thanks to the development of new digital technology. Moreover, it is now easier to print large-scale advertisements with ease. Similarly, the market’s growth is also driven by a growing number of emerging economies.