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The custom printing market has exhibited robust growth in recent years, predominantly propelled by an upswing in demand for personalized products, advancements in digital printing technology, and the expansion of e-commerce platforms. The market value is anticipated to rise from $28.34 billion in 2023 to $30.93 billion in 2024 at a compound annual growth rate CAGR of 9.1%. Factors contributing to this growth include the rising adoption of promotional merchandise and the increasing use of custom packaging in branding strategies.
How will the market size of custom printing evolve in the future?
The market size of custom printing is set to undergo significant expansion in the coming years, with expectations of reaching $44.02 billion by 2028 at a compound annual growth rate CAGR of 9.2%. This surge can be attributed to the growing inclination towards sustainable printing solutions, advances in 3D printing technology, and rising demand for customized apparel. Other contributing factors include the expansion of the online retail sector and a growing consumer interest in personalized home decor.
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What factors are driving the growth of the custom printing market?
A key driver fuelling the growth of the custom printing market is the increasing penetration of e-commerce platforms. E-commerce involves the online buying and selling of goods and services, leveraging digital interfaces for transactions and interactions. Several dynamics, including technological advancements, widespread internet access, increased mobile device usage, and the convenience of online shopping, are fostering a boost in e-commerce demand. E-commerce platforms promote the easy and convenient personalization of custom printing products, allowing customers to design and purchase directly online. The surge in e-commerce sales, which reached $289.2 billion in the first quarter of 2024 in the U.S. alone - a 2.1% increase from the fourth quarter of 2023 - underpins this powerful driver.
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Which companies are the key players in the custom printing market?
Major players operating within the custom printing market include Avery Products Corporation, Staples Print & Marketing Services, PsPrint, Shutterfly Inc., Vistaprint, Redbubble, Custom Ink, Printful Inc., Zazzle Inc., GotPrint.com, Smartpress, Spoonflower, PrintPlace, PrintRunner Inc., Jukebox Print, Overnight Prints Inc., Digital Lizard, UPrinting, CafePress Inc, Next Day Flyers, Sticker Mule LLC, Printify Inc., Society6 LLC, and 4OVER4.COM Inc.
What emerging trends are observed in the custom printing market?
A notable trend within the custom printing market landscape is the investment by key companies in innovative technologies such as customized direct-to-garment DTG printing technology to maintain their competitive position. DTG technology directly applies ink to fabric using specialized inkjet printers, a method that has gained popularity in recent years. For instance, in April 2023, U.S.-based clothing company HanesBrands Inc. introduced its PrintNOW technology, which improved the efficiency of the printing process and reduced production time by up to 40%.
How is the custom printing market segmented?
The custom printing market is segmented as follows:
1 By Printing Technique: Screen Printing, Digital Printing, Plot Printing, Other Printing Techniques
2 By Printing Devices: Graphic Design, Artwork
3 By Enterprise Size: Micro Enterprises, Small Enterprises, Medium Enterprises, Large Enterprises
4 By Application: Clothing, Business Cards, Marketing Material, Brochures And Booklets, Packaging, Stationery, Other Applications
5 By End User: Commercial, Personal
What is the regional coverage of the custom printing market?
Asia-Pacific was the largest region in the custom printing market in 2023. Other regions covered in the report include Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
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