The printing industry has undergone a significant transformation as digital technology, media, and advertising have evolved. This shift has impacted not only developed nations but also emerging and transitioning economies around the world. While each country faces unique challenges, the global printing market is gradually stabilizing over time.
According to the "2018 Global Printing Market Forecast" report by Smithers Pino International, digital printing is expected to capture a larger share of the market in the coming years. Additionally, packaging printing is projected to grow significantly, contributing more to the global market. Driven by advancements in packaging, labeling, and digital printing, the global print market reached $880 billion in 2018.
Packaging printing, including printed labels, remains one of the most in-demand sectors globally. The report highlights that the share of packaging printing output in the global market increased from 23.5% in 2012 to 38.1% in 2018. This growth has spurred innovation in digital post-printing technologies, enabling more efficient and automated production of folding cartons.
Despite a decline in global packaging demand during the financial crisis, the market has rebounded in many regions. In Asia and Latin America, publications and advertising continue to drive growth, but packaging printing holds immense potential. Innovations such as network-to-packaging technology, digital embossing, and cutting techniques are fueling new opportunities for digital printing. As materials become more diverse, order sizes decrease, and personalization becomes more common, companies offering fast, short-run services will gain a competitive edge.
Digital printing also helps reduce waste compared to traditional methods. Smithers Pino International reports that the global share of digital print production rose from 9.5% in 2008 to 19.7% in 2018. Digital printing often delivers higher value outputs and is more efficient than conventional methods.
In Western countries, digital printing is growing rapidly in areas like transactional printing, advertising, and commercial stationery. The integration of digital printing with instant delivery systems can minimize waste, while multifunctional printers (MFPs) enhance print quality. However, as consumers, businesses, and governments increasingly adopt digital media in the next five to ten years, the demand for traditional print may decline.
Digital communication is reshaping the traditional printing landscape. In developed countries, many printed materials have been replaced by online content. Younger generations prefer digital news and entertainment, leading to a decline in the relevance of newspapers, magazines, and books. Although some countries still see growth in book sales, newspaper circulation has suffered. For example, per capita reading rates in Switzerland have dropped sharply, while China and India remain low. Even if growth occurs in these regions, it may not be sustainable long-term.
E-readers like the Kindle pose a threat to the traditional publishing industry, and the pace of media innovation continues to accelerate. Similarly, magazine advertising revenue has not fully recovered since its sharp drop in 2009, and it's unlikely to return to pre-crisis levels.
While internet advertising has taken market share from traditional media, the impact on offline channels has been limited. Digital displays have affected outdoor advertising, but not as much as expected. Direct mail has seen a recovery in some developed countries, but it’s likely to trend downward in the long run. In emerging markets like Asia and Latin America, direct mail is still underutilized, indicating strong growth potential for advertising and promotional materials in these regions.
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