Market Dynamics
Market Drivers
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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.
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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
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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.
Segmental Analysis
The global print on demand market is segmented by platform, software, and products.
On the Basis of Platform
Based on the platform, the market is divided into software and service.
The service segment dominates the market and is expected to grow during the forecast period. This is due to increased service providers offering drop shipping and end-to-end fulfillment. Other services offered by the service providers include marketing and branding services, such as bespoke packaging and creative services. These platforms provide print-on-demand merchants and artists with ease and options. The software segment accounted for the most significant revenue share, which is anticipated to persist during the forecast period. The expansion of the software segment can be linked to the rise in technology investments made by print-on-demand service providers. Service providers provide software solutions such as Application Programming Interface (API) and design-creation instruments. The API facilitates the integration of an existing online store with a print on demand platform for the merchants.
On the Basis of Products
Based on products, the market is divided into apparel, home décor, drinkware, and accessories.
The home décor is anticipated to grow during the forecast period. Due to the development of remote working, an increasing number of people worldwide have been staying at home and looking for ways to upgrade their living spaces since the pandemic. The expanding availability of a broad range of goods falling under the home and lifestyle category gives customers more options, which boosts sales. Mats, pillows, and posters are a few examples of such items. The apparel segment is responsible for the most significant revenue share, and it is anticipated to hold this position during the projection period. This is mainly due to the rapid penetration of internet retail into the fashion arena, the growing interest among younger consumers in bespoke and one-of-a-kind items, and the popularity of fashion clothes.
On the Basis of Technology
Based on Technology, the market is divided into Digital Printing, Offset Printing, Flexographic Printing, and Screen Printing.
Digital Printing dominates the print-on-demand business due to its versatility and affordability. Digital printing allows fast turnaround, high-quality printing, and customized print runs. It's perfect for on-demand book printing, promotional materials, and sportswear.
Offset printing remains important, especially for large print runs, despite digital competition. Its outstanding print quality makes it ideal for high-volume print jobs including periodicals, newspapers, and packaging. Offset printing is useful in print-on-demand because it maintains quality over long print runs.
Flexible printing is perfect for labels, packaging, and other items that need continuous, high-speed printing on many surfaces. Flexographic printing is a major player in the print-on-demand market for labels, tags, and packaging modification due to its efficiency and versatility.
Screen printing gives unique pigment thickness and vibrancy. This material is used for custom clothes, promotions, and signage. It may not be as versatile as digital printing, but its ability to make tactile and visually appealing prints has made it popular in print-on-demand, especially for creative designs.
On the Basis of Distribution Channel
Based on Distribution Channel, the market is divided into Online and Offline.
Increased internet usage and e-commerce platforms have boosted the online distribution channel in recent years. Online marketplaces, websites, and e-commerce platforms offering print-on-demand services comprise this segment. Customers can easily customize garments, home décor, and promotional items through various internet outlets. The simplicity of exploring and ordering tailored products from home has driven online growth. This market includes Printful, Printify, PrintAura, and Amazon, Shopify, and Etsy, which host many print-on-demand businesses.
The offline distribution channel has changed gradually yet remains relevant. Retail outlets, print shops, and bespoke item booths at events and local markets are included. Despite digital concerns, this category continues to service a niche market, especially for clients who prefer in-person encounters or need customized products quickly. Many traditional printing companies now offer online and offline services to bridge the digital divide. In addition, some print-on-demand suppliers offer physical locations where clients may order online and pick up their customized products.
On the Basis of End User
Based on End User, the market is divided into E-commerce, Publishing, Fashion & Apparel, Art & Creative, Corporate, Education and Others.
E-commerce represents a substantial portion of the market for print on demand. Print on demand services allow online businesses and marketplaces to manufacture custom garments, accessories, and home decor for a variety of customer tastes.
Print on demand reduces big print runs, benefiting publishers. Now authors and publishers may print books, magazines, and other products on demand, reducing inventory and production expenses.
Fashion and clothes have changed due to print on demand. Customized t-shirts, hoodies, and sportswear are easy to make, allowing brands to provide unique designs and personalized fashion.
Artists and creatives can print on canvas, posters, and goods using print on demand. This segment helps artists reach more people and make money.
Many companies use print on demand for promotional, branded, and corporate gifts. This section helps firms maintain brand consistency and meet marketing and branding needs.
Schools and universities use print on demand for course materials, textbooks, and educational resources. This strategy offers flexibility, avoids waste, and gives pupils updated content.
Others category includes several sectors and applications that use print on demand, such as personalized presents, home decor, and event marketing. This diverse portion shows print on demand's adaptability.
