Asia Pacific Picture Frame Market

Market Overview

The Asia Pacific picture frame market size witnessed significant growth in the past and is expected to grow at a CAGR of around 4.5% during the forecast period (2022-2030).

Highlights

• Hanging picture frames dominated the market by type.
• Artwork dominated the market by application.
• India dominated the market by region. 

A picture frame is an excellent means to showcase photographs and other images within a household. These frames come in various colors, including black, brown, white, and more, allowing them to complement the overall home decor. Additionally, picture frames are crafted using various wood, metal, and glass materials. They come in different types, each accommodating various picture sizes. Frames can be small, medium, or large, depending on personal preference, with matte or glossy finish options. Furthermore, a lined or photographic image can be placed within these frames.

The Asia-Pacific picture frame market is witnessing significant growth due to several factors. The region's increasing population, rising disposable income, and growing home décor awareness drive the demand for picture frames. Moreover, the adoption of picture frames to preserve and display photographs, certificates, and documents is also contributing to the market's expansion. Additionally, technological advancements and the availability of high-quality products from market leaders further enhance the market's growth potential in Asia-Pacific.

Market Dynamics

Market Drivers

An Expanding Array of Picture Frames Applications

In Asia-Pacific, Artists widely employ frames to safeguard and enhance their valuable artwork, following established conventions. Framing serves multiple purposes, such as preserving artwork to prevent deterioration and providing protection for convenient viewing. Additionally, framing photographs offers an appealing way to adorn mirrors in residential or commercial spaces. The increasing popularity of photo frames, particularly for pictures holding sentimental value, such as those capturing cherished memories or loved ones, has seen significant growth. Framing has become highly favored as it transforms photographs into precious art pieces while beautifying spaces, including the decoration of mirrors and the embellishment of bookshelves with literary works. Furthermore, the growing trend of framing certificates in homes, offices, and other institutions significantly contributes to the rising demand in this market.

Increasing Interior Design Spending

People have elevated expectations for their living spaces, desiring environments that serve as functional work areas and as enjoyable retreats for leisure. As a result, there is an increasing need for picture frames as individuals prefer to personally frame their pictures at home, avoiding the challenges associated with mounting them in office settings or relying on larger institutions for various frame choices. Additionally, the corporate sector drives this demand by encouraging the recognition of important milestones and accomplishments within workspaces, resulting in greater investments in office decoration.

Market Restraints

Smartphone Adoption is Growing

The increasing prevalence of smartphones has had a detrimental impact on the traditional photo frame industry. Photo frames have long been a common feature in households, integral to home decoration. Moreover, they are often chosen as popular gift items, contributing to the overall growth of the photo frame market in recent years. However, the widespread adoption of smartphones has led to a decline in the utilization of photo frames for displaying and gifting purposes. This can be attributed to the advanced camera capabilities of smartphones, which offer high-quality images and the convenience of capturing multiple frames quickly. As a result, the convenience and versatility of smartphones have diminished the demand for traditional photo frames for displaying and sharing photographs.

Market Opportunities

Increasing Use of Digital Frames

In the modern age of technology, the frames industry has experienced a significant evolution, propelled by the rising popularity of digital frames. These digital frames combine the elements of traditional picture frames with the advancements of digital displays. Digital frames have gained considerable momentum in recent years, competing alongside conventional frames in the market. While traditional frames have their own merits, the superior quality of digital frames has attracted considerable interest from buyers. The market now offers a diverse range of frames, catering to the varied preferences of buyers and allowing them to select frames that suit their specific needs and preferences. The increasing adoption of digital frames has resulted in interesting changes in the picture frame market.

Segmental Analysis

The Asia Pacific picture frame market is segmented into types and applications.

By type, it is further segmented into hanging picture frames and tabletop picture frames.

The tabletop picture frames dominated the market and are expected to register a CAGR of 5.1% over the forecast period.

It is further segmented by applications into personal photos, artwork, and others.

Personal photos dominated the market and are expected to register a CAGR of 5.4% over the forecast period.

Regional Analysis

The Asia Pacific picture frame market is segmented by country: China, India, Japan, Southeast Asia, Rest of Asia-Pacific. Germany dominated the market with a CAGR of 4.3% during the forecast period.

The Asia-Pacific region is poised for robust growth in the picture frame market, driven by its large user base and the growing popularity of picture frames. Key industry players know the increasing preference for picture frames as a storage option for pictures, documents, and certificates. Factors such as improving living standards, modernization, and rising regional nuclear families fuel the demand for picture frames. The Asia-Pacific region dominates the market due to the market leaders' ability to provide advanced technology and high-quality products. However, the market faces fierce competition due to challenging business conditions, strict government regulations, and escalating labor, materials, and freight costs.

Recent Developments

• April 2017- Sycamore Partners publicized its acquisition of NBG Home (“NBG”) from Kohlberg and Company, LLC. This acquisition helps users more with its growth and production.
• October 2019- Aura announced the launch of a new smart photo frame assembly, which will help users insert photos of their phones into the wall of their houses.