The global commercial printing services market grew from $650.62 billion in 2022 to $670.92 billion in 2023 at a compound annual growth rate (CAGR) of 3.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The commercial printing services market is expected to grow to $749.03 billion in 2027 at a CAGR of 2.8%.
The commercial printing services market includes revenues earned by entities by providing various printing services such as graphic designing, kitting, fulfillment, analytics, mailing, and web-ordering portals that are used to support clients in publishing, advertising, marketing, and retail to leverage business operations.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
The commercial printing services refer to printing services for businesses. Commercial printing services mean the collection of services, including bulk printing, mass printing, binding, composition, layout design, and press production.
Asia-Pacific was the largest region in the commercial printing service market in 2022 and is expected to be the fastest-growing region in the forecast period. The regions covered in the commercial printing service market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main printing types of commercial printing services include offset lithography printing, digital printing, flexographic printing, screen printing, gravure printing, and other printing types.Lithography is a printing technique that employs a flat stone or metal plate on which the image areas are worked with a greasy substance to ensure that the ink adheres to them, while the non-image areas are made ink-repellent.
The prints made in commercial printing services include images, paintings, pattern, and other prints. The applications of commercial printing services include advertising, periodicals, catalogues, office products, directories, labels, and wrappers.
The growing advertising needs of enterprises across the globe is driving the growth of commercial printing services. Advertising helps businesses to reach the right audience with positive and focused messaging that converts potential customers into paying customers and also helps to reach the right audience with targeted messaging that converts potential consumers into loyal customers.
Therefore, an enterprise across the globe has been adopting different advisement mediums to grow their business and approach the target audience. According to the Pitch Madison Advertising Outlook Report 2022, In India, ad spending on print media increased by 39% to 16,595 crores in 2021 from 11,925 crores the previous year.
Therefore, the growing advertising needs of enterprises across the globe will increase the demand for commercial printing services during the forecast period.
The green commercial printers are a key trend gaining popularity in the commercial printing service market. The commercial printing service providers are adopting green commercial printers that employ environmentally friendly paper, inks, varnishes, and chemicals, as well as waste reduction and reuse.
For instance, in January 2021, Solo press, a UK-based company, announced the launch of a new range of environmentally friendly print products called Solo press Green. The new line includes a variety of high-quality items that are printed on recycled paper types.
Also, all carbon emissions are compensated by funding climate-related projects. Customers can generate an outstanding suite of eco-friendly stationery and promotional print with options such as Business Cards, Flyers & Leaflets, Postcards, Greetings Cards, and Stickers, as well as additional goods slated for the future.
In January 2020, TC Transcontinental, a Canada-based packaging, commercial printing, and specialty media company, acquired Artisan Complete Limited for an undisclosed amount. With this acquisition, The in-store marketing solutions of TC Transcontinental Printing are anticipated to be improved and enhanced in three key areas, which includes promotional point-of-purchase, long-term signage, and display/decor.
Source: ReportLinker
