Photo Printing and Merchandise Market Size, Share, Trends, Growth 2032

Photo Printing and Merchandise Industry Prospective:

The global photo printing and merchandise market size was worth around USD 25.00 billion in 2023 and is predicted to grow to around USD 38.12 billion by 2032 with a compound annual growth rate (CAGR) of roughly 4.80% between 2024 and 2032.

Request Free Sample

Photo Printing and Merchandise Market: Overview

Photo printing and merchandise industry is one of the growing industries offering personalized memories to the users. Photo printing and merchandise refers to the process of obtaining physical copies of an image on paper or other surfaces. Some of the most common applications of photo printing and merchandise include gifting customized items or objects to other parties including mugs, pillows, or pictures of special memories.

The demand for image printing followed by merchandising has grown over the years as consumer awareness has improved. In addition to this, the industry’s growth rate is also a result of increased disposable income and the emergence of several online service providers.

Photo printing can be carried out for the purpose of creating a specially curated photo book or album. It can also be used on greeting cards or home decor items. Photo printing on apparel items such as t-shirts and hoodies is widely prevalent among people of all generations. The growing innovation in terms of photo printing technology and the use of sustainable resources for photo printing will help the industry thrive in the long run. One of the key challenges faced by the industry players is excessive competition and unpredictable demand.

Key Insights:

• As per the analysis shared by our research analyst, the global photo printing and merchandise market is estimated to grow annually at a CAGR of around 4.80% over the forecast period (2024-2032)
• In terms of revenue, the global photo printing and merchandise market size was valued at around USD 25.00 billion in 2023 and is projected to reach USD 38.12 billion by 2032.
• The market is projected to grow at a significant rate due to the growing trend of customized gifts and objects.
• Based on the type, the photo printing segment is anticipated to command the largest market share.
• Based on the distribution channel, the online service providers segment is growing at a high rate and will continue to dominate the global market as per industry projection.
• Based on region, North America is projected to dominate the global market during the forecast period.

Photo Printing and Merchandise Market: Growth Drivers

Growing trend of customized gifts and objects to drive market demand rate

The global photo printing and merchandise market is expected to grow due to the rising trend of customized gifts across the globe. According to market research, consumers worldwide have shown specifical interest in gifting items that are one-of-a-kind or specially designed that mimic the personalities of life of the gift receivers. People are steadily inching away from mass-produced gifting solutions.

According to a recent survey conducted by Mygifteee, around 80% of consumers care more for personalized gifts since they believe that personalized items are more thoughtful.

In addition to this, people are increasingly investing in developing tangible objects out of image memories stored on mobile phones or electronic devices. For instance, the trend of couples printing wedding day pictures on pillows and coffee mugs has had significant takers in the past thus prompting demand for photo printing.

Increased use of consumer electronics especially smartphones to fuel market expansion trends

The growing access to smart consumer electronics, especially intelligent phones, is likely to emerge as crucial to the further penetration of photo printing and merchandise. For instance, the growing use of smartphones affects the industry in multiple ways. These devices have improved the overall accessibility to photo printing service providers along with raising awareness about the latest trends in the printing of digital photos.

Furthermore, smartphones allow companies to reach a broader audience by investing in social media marketing and branding. The introduction of cheaper and faster internet will have a direct impact on the demand for photo printing services.

Surge in corporate gifting trends to create higher demand in the market

The global photo printing and merchandise market is expected to deliver exceptional results in the corporate gifting segment. The practice of businesses sending personalized gifts to stakeholders, employees, clients, and even customers is known as corporate gifting.

According to industry-based learnings, corporate gifting has multiple advantages in the form of increased chances of developing positive relationships with the parties involved and higher branding or visibility. The global corporate gifting market was valued at over USD 766 billion in 2023.

Photo Printing and Merchandise Market: Restraints

Excessive competition in the market to act as a major growth inhibitor during the forecast period

The global photo printing and merchandise industry is projected to be restricted due to the excess competition. The number of photo printing and merchandising solution providers across the globe has increased rapidly in the last few years. This has led to extreme market fragmentations as brands fail to develop brand loyalty.

In addition to this, the industry also faces unpredictable demand. The consumption of photo printing services is higher during gifting or wedding seasons. However, the demand may drop at other times of the year leading to extreme fluctuations in total earnings.

Photo Printing and Merchandise Market: Opportunities

Surging launch news of novel photo printing techniques will generate growth opportunities

The global photo printing and merchandise market is expected to generate growth opportunities due to the increasing launch of new technologies in the industry. For instance, digital printing is currently one of the most widely used techniques for converting digital photons into tangible forms. The technology is not only cost-effective but also delivers high-quality pictures.

In June 2024, Dai Nippon Printing Co., Ltd. (DNP) announced the launch of a new photo printer in the form of DP-DS820DX. It is one of the world’s few compact photo printers equipped to print 8-inch double-sided photos. The tool is 40% smaller compared to its predecessor DP-DS80DX.

In January 2024, HP India launched innovative digital printing solutions at the Consumer Electronic Imaging Fair 2024. The company displayed the latest HP Indigo 7K Digital Presses along with real-time demonstrations at the event. In addition to this, market players are also working on developing sustainable resources such as biodegradable or recyclable papers to help the industry achieve new goals in the future.

Photo Printing and Merchandise Market: Challenges

Presence of digital alternatives will challenge the market expansion rate in the coming years

The global industry for photo printing and merchandise may be challenged by the wide-scale penetration of digital alternatives. The emergence and rapid growth in the popularity of social media platforms such as Instagram and Facebook that promote the sharing of personal photos and memories has significantly impacted the demand for hard copies of pictures. Volatility in terms of raw material availability and prices will further impact overall revenue.

Request Free Sample

Photo Printing and Merchandise Market: Report Scope

Photo Printing and Merchandise Market: Segmentation

The global photo printing and merchandise market is segmented based on type, distribution channel, and region.

Based on the type, the global market divisions are merchandise printing and photo printing. In 2023, the highest revenue was generated in the photo printing segment. It held dominance over 80% of the total market share driven by the presence of a large range of options in terms of materials available for photo printing. Growth in merchandise printing is driven by a growing number of promotion events worldwide including the ones covering social or political causes.

Based on the distribution channel, the global market segments are retail stores, online service providers, instant kiosks, and others. In 2023, the highest growth was witnessed in the online service providers segment. The growing focus of companies and businesses on generating brand awareness through online portals including social media platforms has fueled segmental demand. Additionally, online portals allow customers to choose a service provider from an extensive range of available brands thus enhancing the chances of consumer satisfaction. According to official estimates, more than75% of companies have social media brand pages.

Photo Printing and Merchandise Market: Regional Analysis

North America is the leading revenue-generator in the industry according to industry research

The global photo printing and merchandise market is led by North America. Countries such as the US and Canada are the leading revenue generators. The regional growth rate is a result of higher demand for customized items either as gifting tools or for personal use. In addition to this, the corporate gifting trend plays a crucial role in contributing to revenue streams across North America. The demand for photo printing and merchandise is particularly high during holiday seasons which are filled with events where families and friends provide each other with meaningful gifts.

Europe is a growing market with countries such as the UK, France, Spain, and others acting as major revenue generators. The European growth rate is specifically driven by a growing focus on the use of sustainable materials for photo printing including apparel and recyclable paper.

In November 2024, Walki, a Finland-based company providing sustainable packaging solutions, announced a partnership with French firm Lactips. The companies are working on developing fully biodegradable, plastics-free food packaging tools that will create opportunities for photo printing companies in the region. In addition to this, innovations in printing techniques across Europe will also be critical in the long run.

Photo Printing and Merchandise Market: Competitive Analysis

The global photo printing and merchandise market is led by players like:

• Costco Photo Center
• Shutterfly
• Artifact Uprising
• Printique (formerly AdoramaPix)
• Vistaprint
• Nations Photo Lab
• Bay Photo Lab
• Walmart Photo
• Zazzle
• CVS Photo
• Picaboo
• Snapfish
• Minted
• Blurb
• Mixbook

The global photo printing and merchandise market is segmented as follows:

By Type

• Merchandise Printing
• Photo Printing

By Distribution Channel

• Retail Stores
• Online Service Providers
• Instant Kiosks
• Others

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa