Photo Merchandising refers to the personalized gifting and décor items with images imprinted on them. Personalized products are widely used by individuals either for personal use or for gifting.
Covid-19 Impact & Market Status
It is due to the widespread fatal virus COVID-19 at the beginning of the year 2021, many lives were lost, infecting countless individuals in general. In response to it, the world government imposed various restrictions in countries such as the prohibition on large social gatherings, ban on domestic & international flights, shut down of all industries except essential goods services (medical and groceries), halt in work, and others. most endeavors have been adversely influenced, and so is the Photo Merchandising adventures have been severely impacted. However, in the post-COVID-19 era, the industries are strategizing toward recovering the loss incurred due to unprecedented circumstances and bouncing back with more resilience.
The global Photo Merchandising market is projected to reach USD 27,377.99 million by 2028, growing at a CAGR of 6.5%
Position Of the Global Market for Photo Merchandising across Various Regions
The Asia-Pacific region is certainly going to witness the highest growth over the projection period i,e 2028. The growing innovation in digital cameras by renowned companies such as Panasonic Corporation and Sony Corporation is majorly responsible for the tremendous growth of the global Photo Merchandising market. Digital cameras enable customers to print photos online. Therefore, the market is expected to go through a huge demand period during the forecast years.
The boom in the use of smart gazettes to boost the market growth
The booming use of smartphones, laptops, and other smart devices with the emergence of AI, Robotics, IoT, and its growing prominence across ages is expected to become one of the key components of the market. Thus, boosting the market growth. moreover, constantly improving broadband infrastructure and wireless connectivity networks will bring new avenues for the market over the projection years.
Photo printing and merchandising refer to several personalized gifting and decorating embellishments on which photographs are printed as per the requirements of customers. Generally, things like T-shirts, bags, mugs, pillows, calendars, canvases, cards, keychains, clocks, etc. are personalized under the dye-sublimation process. in this process, the printed dye is mixed with the polymer coating of the sublimation paper on the object. This process builds extremely vibrant, durable, long-lasting& scratch-free printing. Suh personalized products are also used by organizations for the promotion of products and to raise brand awareness among folks.
The growing culture of gifting in the current generation is leading to increased demand for personalized photo products. Gifting culture is gaining importance globally. The sales of Photo Merchandising increase during festive seasons such as New Year, Christmas, Halloween, Easter, Hanukkah, birthdays, Indian festivals (Holi, Diwali, etc) & on other occasions across the world.
The rapid Emergence of urbanization all over the world (particularly in developing countries) is one of the core components driving the market prospects. An increase in the use of smartphones and other smart gazettes among millennials and Gen Z with high-resolution images and editing features are also a contributing factor. The portable devices bring extreme flexibility and made-to-order characteristics to photo editors and merchandise vendors. Therefore, allowing vendors to provide innovative merchandise solutions to the customers. Moreover, the hiking preference for personalized objects among industries and individuals is increasing the demand for photo merchandising. With different technological innovations (introduction of lenticular printing for high-definition prints etc), growth-inducing factors are rapidly taking place in the global market. Lenticular printing is used for generating 3D images with an illusionary depth on the merchandise. Other components such as the increase in disposable income, the trend of social media and e-commerce retail channels, etc are expected to boost the global market for Photo Merchandising over the forecast period.
Photo Merchandising vendors offer greeting cards, personalized imprints on objects, etc. these vendors offer services in designing, sourcing, printing, distribution, physical store networking, and others. The Photo Merchandising market functions for those who wish to commemorate different moments and memories in their life through personalizing their images and sharing them across.
The soaring cost associated with the installation and maintenance of self-printing kiosks hampers the scalability of the Photo Merchandising industry as it becomes non-budget-friendly for most consumers. Moreover, the replacement of paper colanders by digital planners is also a contributing factor. The contraction in living space for folks in metro cities is posing a serious threat to the market for Photo Merchandising as space is a major struggle for apartments. The low availability of free spaces in houses and buildings hampers the growth of wall décor parts.
However, the boom in technology such as the introduction of Artificial Intelligence (AI), robotics, IoT, etc rapid adoption of digital devices (smartphones, laptops, tabs, etc), and soaring demand for 3D prints and images are huge contributors to the growth of the global Photo Merchandising market. Additionally, the evolution of photo capturing technology is bringing various opportunities for the market. The integration of AI with photo capturing techniques is opening up new avenues for the Photo Merchandising market.
A significant rise in the demand for the Photo Merchandising industry is likely to make the market grow over the projection period. The hiking demand for the photo printer is likely to become lucrative for the growth of the Photo Printing Market across the globe. Despite the negative factors, the market will regain its growth in the forthcoming years.
The key players in the global Photo Merchandising market are American Greetings Corporation, Bay Photo Inc. (Circle Graphics Inc.), Card Factory, Compress NV, Digitalab Ltd., Eastman Kodak Company, Hallmark Cards Inc., Hewlett Packard Enterprise Development LP, Shutterfly Inc., and Walgreens Co. (Walgreens Boots Alliance Inc.)
Latest Innovations in the Global Photo Merchandising Market: A Snapshot
- Introduction of 3D photo objects owing to the emergence of enhanced technology.
- Partnership, joint ventures, collaborations, and other strategies grow the market stake of the companies with expanded coverage and presence. It also provides companies the advantage of improving their offering for the Photo Merchandising market through the scalability of the product range.
- The digital transformation in the market is diminishing the creation time for a personalized book. Photo printing and merchandising companies are switching over to the utilization of Artificial Intelligence (AI) in Photo Merchandising software. The software with AI integrated automatically places the photos of customers on the pages of books chronologically.
Photo Merchandising Market Scope
|Revenue forecast in 2028
|USD 27,377.99 million
|CAGR of 6.5 % during 2018-2028
|North America, Europe, Asia Pacific, Middle East and Africa, South America
|Key Players Profiled
|Bay Photo Lab, Printique LLC, WhiteWall, Cardfactory, HALLMARK LICENSING, LLC, Kodak Alaris Inc., AGC, LLC., Cimpress, District Photo, Inc., Photobox, JONDO Ltd, MILLER'S PROFESSIONAL IMAGING, RitzPix, Nations Photolab, Smartphoto Group, Walmart, Shutterfly Inc., Digitalab, and Walgreen Co. (A Subsidiary of Walgreens Boots Alliance, Inc.) among others
Key Segments of the Global Photo Merchandising Market
- By Printing Type
- Digital Printing
- Film Printing
- By Device Used
- By Distribution Channel
- Instant Kiosk
- Online Stores
- Retail Stores
- By Product Type
- Photo Books
- Photo Gifts
- Wall Arts and Others
- By Region
- North America
- Rest of Europe
- The Asia Pacific
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa