Based on Distribution Channel, the market is divided into Online and Offline.
Print On Demand Market Size, Share & Trends Analysis Report By Platform (Software, Services), By Product (Apparel, Home Decor, Drinkware, Accessories), By Region, And Segment Forecasts, 2023 – 2030
The global print on demand market size was valued at USD 6.18 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 25.8% from 2023 to 2030. The rising demand for customized and personalized apparel, home décor, accessories, and drinkware, among others, due to changing consumer preferences and increasing interest in gifting custom-made products for special occasions, have bolstered the growth of the market. In addition, factors such as rising disposable income, increasing internet penetration and smartphone adoption, and inclination toward fashion apparel and unique products are fueling the demand for print-on-demand (POD).
Print-on-demand platforms offer end-users multiple customized printing solutions. Artists and merchants who own print-on-demand businesses can connect their existing online store or create a new one on the platform. Once connected, the service providers handle the printing orders and facilitate shipping, providing a comprehensive end-to-end fulfillment service to the customer.
The entertainment industry significantly contributes to the growth of the print-on-demand market. Many people, especially movie fanatics, gamers, and TV show followers, prefer purchasing customized clothes, artwork, and accessories with specific logos or slogans printed on them. Rising disposable income levels of consumers in various countries like the U.S., the UK, Germany, France, China, and Japan are allowing them to invest in personalized products that reflect their individuality. The benefits, such as premium upgrades, additional customization options, or complementary products offered by the POD service providers, encourage customers to spend more and enhance their overall shopping experience.
However, the lack of transparency and control for artists or creators is a restraint to the growth of the market for print on demand. As the artists do not have control over the quality of products, and not all of them have access to the list of clients, this may create dissatisfaction among the clients, who may seek alternate solutions. The key drivers for the market are rapid digitalization and the growth of e-commerce.
COVID-19 Impact
In the wake of the COVID-19 outbreak, there has been a significant disturbance in most industries worldwide. Industries were majorly impacted in three ways: suppression of profitability, directly affecting production and demand, and drying up financial reserves and cash flows. The impact of the pandemic remained negative in the short term due to disruption in the global supply chain, impacting the production and distribution of raw materials such as plain apparel, standard products, inks, printing equipment, etc., required by the POD service providers.
The delays due to the temporary lockdowns in factories, limited workforce measures, and temporary border closures led to a longer time for the fulfillment of orders, thereby disrupting the supply and demand chain. However, on the other hand, COVID-19 led to changes in consumer preferences with a focus on well-being, health, and self-expression. This led to an opportunity for print-on-demand businesses and entrepreneurs to offer customized products like face masks, protective gear, and workout apparel to cater to evolving consumer demands. The home décor product category witnessed a rise in sales as people adapted to remote working and staying at home.
Furthermore, during the pandemic, the fashion industry experienced both a surge and a decline all at once. While various outlets and big brand stores underwent a decline in consumer footfalls and apparel demand, it has been observed that there was an increase in the demand for custom-made t-shirts from the e-commerce industry. According to Printful Inc.’s 2021 survey of 485 Printful Inc. store owners, 75% of the respondents said that the pandemic outbreak prompted them to start their online business, and 45% witnessed an unexpected growth in sales.
Platform Insights
Based on platform, the print-on-demand market is segmented into software and service. The service segment is anticipated to register the fastest CAGR of 28.2% over the forecast period. This can be attributed to a larger number of service providers offering drop shipping and end-to-end fulfillment services. The service providers also offer services like marketing & branding services, custom packaging, and creative services like photography and graphic design. These services offer convenience and options to print-on-demand merchants and artists.
The software segment accounted for the largest revenue share in 2022 and is expected to retain its dominance throughout the forecast period. The growth of the software segment can be attributed to the increase in technology investments by service providers in the print-on-demand industry. Service providers offer software solutions such as Application Programming Interface (API) and design-making tools. The API makes it convenient for print-on-demand merchants to integrate their online store with a print-on-demand platform. The software segment is further bifurcated into stand-alone and integrated.
The integrated software sub-segment accounted for the largest revenue share in 2022 and is expected to retain its dominance throughout the forecast period. It is expected to grow at a CAGR of 23.4% throughout the forecast period. This can be attributed to the increased awareness and popularity of integrated software. The presence of a large number of third-party e-commerce platforms and ease of connecting are major driving factors for the segment’s growth. Benefits such as flexibility, enhanced computing power, and cost-efficiency are also driving the demand for integrated solutions.
The stand-alone software sub-segment is expected to grow at the fastest CAGR of 26.4% and is expected to maintain its position over the forecast period. Prominent print-on-demand players such as Australia-based Redbubble Group and U.S.-based Zazzle Inc. are stand-alone platforms. The stand-alone platform is like a marketplace where the artist or merchants can create designs and sell them on the platform. It makes it convenient for the sellers as they don’t have to look into technical details.
Market Overview
The global print on demand market was valued at USD 6.3 billion in 2022. It is projected to reach USD 45.6 billion by 2031, growing at a CAGR of 25.3% during the forecast period (2023–2031). E-commerce expansion and the growing trend of online shopping are driving the Print on Demand market, with businesses leveraging on-demand printing to offer a wide array of customizable products to a global customer base.
Print on demand is a technology and business procedure in which book copies (or other documents) are not made until the company receives an order, allowing for single or small-batch printing. While other industries developed the build-to-order business model, “print on demand” could not exist until the advent of digital printing because it was cost-ineffective to create single copies using traditional printing technologies such as letterpress and offset printing.
Print-on-demand is a framework for accurately and optimally controlling and optimizing printing machines and procedures. It assists businesses in lowering printing costs by allowing them to track, control, and manage their entire printer fleet from a single application interface. Mailing and delivery, as well as quick and offset printing, are all possible with print management software. Due to its unified control, this program can also manage copiers, scanners, and desktop printers. Print management software is available in standalone and embedded forms within controlled print facilities.
Market Drivers
Expanding Internet Penetration and Growing Smartphone Adoption
The preference for unique products and fashion apparel, as well as increased internet usage and smartphone use, are all factors driving up demand for print-on-demand services. Online retail sales growth is one of many factors assisting the sector’s expansion. The restrictions imposed by Covid-19 led to an increase in online shopping, which raised the demand for goods that were printed on demand.
Print-on-demand Systems offer Customers Printing Options
The people working from home and staying in their homes have increased sales in the product category known as home décor. It is projected that this element will be a driving force behind the expansion of the market for print-on-demand services. Print-on-demand platforms provide consumers with printing solutions customized to their specifications. Depending on the platform, artists and merchants owning a print-on-demand business and wanting to sell their designs online can connect their existing online store or create a new one. The service providers will print the customers’ orders and ship the product to the customers, completing the end-to-end fulfillment service.
Market Restraints
Lack of Power and Transparency for Artists and Makers
One of the most fundamental market constraints is the absence of transparency or control for those responsible for producing works of art or materials. This situation arises because the artists have no control over the final product’s quality, and not all of them have access to the client list. Furthermore, the artists are not paid for their work until the final product is produced, which could cause the clients to feel unsatisfied. In this case, they might investigate the many alternatives available to them at their disposal.
Market Opportunities
- Leveraging Sustainability in the Print on Demand Market
Sustainability in print on demand aligns with environmental awareness and can boost corporate growth. Businesses can reduce their environmental effect, attract eco-conscious customers, and comply with regulations by using sustainable materials and energy-efficient technologies. This helps the environment, saves money, and establishes a unique brand. This possibility allows print on demand enterprises to succeed in an environmentally conscious market through audits, investments, certifications, and honest communication.
Regional Analysis
The global print on demand market is segmented into four regions, namely North America, Europe, Asia-Pacific, and LAMEA.
North America is the most considerable shareholder in the global print-on-demand market due to various factors, including technological infrastructure and production facilities for print-on-demand items, healthy economies, and consistent economic growth. For instance, the world’s most lucrative print-on-demand companies, such as Printful, Inc., Printify, Inc., and Zazzle, Inc., have their headquarters in the United States. Companies with global headquarters, like the Australian company Redbubble Ltd. and the Norwegian company Gelato, both have fulfillment centers in North America.
Asia-Pacific is anticipated to grow at the during the forecast period. The presence of significant market participants can be credited with contributing to the rise. It is anticipated that technological advancements and the presence of numerous sizeable textile facilities will aid in the market’s growth.
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