There is no doubt that the pandemic has added to the changing and adapting of photo market trends over the last 18 months or so, but there have also been other key drivers that have added to these new trends. Some of these drivers include environmental impact and financial feasibility as well as the search for new opportunities in this evolving and competitive market. Our good friends at Felix Schoeller have put together a comprehensive report on changes and challenges in the photo printing market and today we’ll take a look at some of their findings.
The impact of Covid on photo printing
In 2020, the total size of the photo printing market decreased by 25% among interviewees that took part in the survey. Due to several lockdowns implemented across the globe, many print service providers had to shut their doors for prolonged periods. Many companies had not yet transitioned to providing their services through e-commerce and for those who had, the professional photography market had come to a complete standstill. These statistics have highlighted the need for print companies to diversify their service offering as well as ensure they have an online presence to continue trade in the future. If you would like to take your photo print business online, get in touch here.
The market is already recovering
Although a decrease of 25% sounds daunting, the photo print personalisation industry has already seen a recovery and is estimated to grow by an estimated 3% CAGR (Compound annual growth rate) until 2025. In 2020 for the first time, toner-based systems overtook silverhalide technologies. This could be attributed to the changes in consumer behaviour, at Taopix we have seen significant increases in photobook purchases during lockdown periods as users have time to create their products.
Technologies then and now
In previous years, print service providers predominantly used one major technology (like silverhalide) to produce products like photo prints and school portraits. Today there are a range of different technologies to accommodate the range of different applications. Photobooks, cards, and calendars might use toner-based technologies whereas inkjet and thermal technologies would be used for wall décor and photo-gifts.
Identifying potential markets for your business
150 participants were interviewed to gain comprehensive insights and although a large majority were based in Europe, there were also participants across the United States and Asian Pacific regions. The below illustration shows the uptake of services among the participants. Using these statistics, it is possible to identify potential gaps in service offerings in a particular region. The benefit of adding additional photo products to a service offering is that there are seldom additional costs as the majority of print service providers already have the necessary technologies in house.
Using the best technologies and media to produce the best quality products
It’s no secret that outstanding products can only be achieved by using the best technologies and media. Taopix offer a wide range of photo personalisation e-commerce solutions to suit any business whether you are a start-up or are a seasoned print service provider with a global footprint. Get in touch today for your personalised demonstration and to find out more about our exciting new features and integrations.
Felix Schoeller Group have been providing the finest quality print media since their inception in 1895 and have a host of media to suit any of your print technologies. Get in touch with Felix Schoeller to discuss your media requirements.
Download the full report from Felix Schoeller here