The Future of Print Industry in 2022 and Beyond

In 2020, the Global Commercial Printing Market had a value of $411.99 billion. By the end of 2026, it is estimated to value $472.35 billion, with a CAGR of approximately 2.24% in 2021-2026. Five years from now, the printing market is predicted to witness remarkable growth.

So, Where is the Print Industry Heading?
The consensus reveals that significant changes are ahead. Some of the leading printing companies are adapting to innovative ways and adopting digital printing technology for customization.

Packaging is the New Star
Experts believe that Amazon is the driving force behind packaging innovation. Amazon has shown the world how well-designed, printed, and labeled packaging can make all the difference.

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Inkjet Technology to the Rescue

Inkjet will propel the latest printing technology owing to its price and speed. Inkjet printers have proven to be faster compared to traditional printers. Moreover, these printers can be roll-fed or sheet-fed, which is revolutionary.

Here's how the latest printing technology shall move things forward:

Low to High Growth: Graphics & Publications

Newspaper printing and magazines were the worst hit during the pandemic. The sales stopped because of widespread work-from-home, and readers switched to online channels.

Bad Phase to Continue for the Print Substrates

The downfall of graphic industries and the decline in publication jobs will reflect in the market aimed at print substrates. Newsprint, coated/uncoated mechanical and woodfree, have all witnessed falling volumes. Unfortunately, much of this will be permanent.

But the Good News is that eCommerce is in Full-Swing

To salvage revenue during the pandemic and lockdown, retailers opted for innovative eCommerce and direct-to-consumer options to offer their services. Compared to the pre-pandemic time in 2019, the volume of eCommerce packaging has gone up by 40%.

New Delivery Models: Virtual Sales & SaaS Connection

From the perspective of machine sales, druppa was a massive casualty. Several attempts were made to reschedule it for 2021. However, most of the major OEMs withdrew, and the organizers had to cancel the schedule. So, the event shall not take place before 2024.

Diversification is the Key

The remaining PSPs would also have to adapt to the changing strategies to compensate for the lost business during this pandemic. Some of the print suppliers, instead of manufacturing, are increasingly collaborating with several other rival companies. Others have widened their variety of products/services offerings and handle activities beyond various print companies' realm.

Conclusion

Web to print and eCommerce has a certain natural synergy. In 2020, the significant highlight investment was the commitment of Amazon to purchase $400 million worth of inkjet equipment for their Merch line of business.