Global Photo Printing Products Market was estimated at USD 22,102.48 Million in 2019 and is projected to reach USD 28,337.83 Million by 2027, growing at a CAGR of 3.2% 2019 to 2027 over the forecast period due to growth in consumer goods sector, Says Absolute Markets Insights

PUNE, India, February 10, 2020 /PRNewswire/ — The market for photo printing products is expected to grow with the growing needs of the consumer goods industry which is highly dependent on consumer behavior. The era of digitalization has played a key role in influencing consumer demands. Digitalization has influenced the lifestyle of consumers in both urban and rural areas. Consumers prefer a more lavish lifestyle, which includes their own memories of the products used in their homes. The easy availability of photo printing products in the global market has been a driving factor for the global photo printing products market. The growing culture of gifts among the younger generation in both developed and developing countries is a key driver for the growth of the global photo printing products market. A growing number of consumers are inclined to offer personalized products. This introduced the concept of personalized gifts to the global market. For example, Snapfish offers cards, personalized pillows, photo panels, magic cups, phone cover, among others for various occasions such as wedding, Valentine’s Day, new baby, and other holidays.

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Photo printing is hugely capturing the advertising industry due to the market awareness that grabs the attention and holds the interest of individuals leading to the conversion of consumers into customers. Print advertisements create brand recognition and encourage individuals to purchase products. Advertising attracts attention with bright colors, large and bold text images for individuals. Photo printing products are expected to explode due to the growth of the e-commerce sector. Consumers in the digital age are embracing shopping technologies. As the effectiveness of digital marketing continues to improve due to the growing use of smartphones and online shopping portals among millennials, consumers in various parts of the world are becoming aware of various photo printing products. . Such an upward trend in the global e-commerce industry is expected to broaden the consumer base exposed to photo printing products, thereby creating numerous opportunities for the global photo printing products market. Additionally, businesses in the retail sector are using social media and digital marketing to better connect with consumers. Additionally, companies are offering mobile coupons to consumers to improve sales and attract new customers.

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The detailed research study provides qualitative and quantitative analysis of the Photo Printing Products Market. The market has been analyzed from the demand side as well as the supply side. The demand side analysis covers market revenue across all regions and major countries. The supply analysis covers the major market players along with their regional and global presence and strategies. The geographic analysis performed focuses on each of the major regions across North America, Europe, Asia Pacific, Middle East & Africaand Latin America.

Main conclusions of the report:

  • In terms of revenue, the global photo printing products market is expected to reach US$28,337.83 million by 2027 due to a growing need among consumer goods which is highly dependent on consumer behavior. Rising consumer spending has been a key factor in influencing the lifestyle of consumers in developing countries.
  • Based on product type, photo book segment is expected to hold the largest market size. The growing demand for high-end photo books, small children’s books, among others, is attributable to the market. The demand for photo books has further increased due to the low cost and easy availability of photo books. The printed matter segment occupied the second largest share during the forecast period owing to the demand for end products such as printing of brochures, flyers, books, catalogs, etc. increased due to increased investment by small and medium-sized enterprises in product advertising and marketing. .
  • Some of the players operating in the photo printing products market are Shutterfly, Inc., Peak Imaging, Snapfish, Mpix, among others.

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Photo Printing Products Market:

  • By product type
    • Photo books
    • prints
    • Photo albums
    • Calendars
    • Photo gifts
    • Mugs
    • wall art
    • Gift cards
    • Others
  • By geography
    • North America
      • we
      • Canada
      • Mexico
      • Rest of North America
    • Europe
      • France
      • Great Britain
      • Spain
      • Germany
      • Italy
      • Nordic countries
        • Denmark
        • Finland
        • Iceland
        • Norway
        • Sweden
      • Benelux Union
        • Belgium
        • The Netherlands
        • Luxemburg
      • Rest of Europe
    • Asia Pacific
      • China
      • Japan
      • India
      • New Zealand
      • Australia
      • South Korea
      • South East Asia
        • Indonesia
        • Thailand
        • Malaysia
        • Singapore
        • Rest of South East Asia
      • Rest of Asia Pacific
    • Middle East & Africa
      • Saudi Arabia
      • United Arab Emirates
      • Egypt
      • Kuwait
      • South Africa
      • Rest of Middle East and Africa
    • Latin America
      • Brazil
      • Argentina
      • Rest of Latin America

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SOURCE Absolute Market Analysis

Elaine F. Brim