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Commercial Printing Services Global Market Exhibit a Remarkable CAGR of 3.5% and is expected to reach $817.73 Billion By 2028 | ACME Printing Inc., Quebecor World Inc., Cenveo Corporation, Cimpress PLC, Ennis Inc.
Commercial Printing Services Global Market
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According to The Business Research Company's, The commercial printing services market size has grown steadily in recent years. It will grow from $687.6 billion in 2023 to $713.85 billion in 2024 at a compound annual growth rate (CAGR) of 3.8%. The growth in the historic period can be attributed to advertising and marketing needs
increased printed collateral demand, growth of the publishing and media industry, increased need for branding and identity, increased packaging and labeling, and commercial real estate growth
.
The commercial printing services market size is expected to see steady growth in the next few years. It will grow to $817.73 billion in 2028 at a compound annual growth rate (CAGR) of 3.5%. The growth in the forecast period can be attributed to inceasing need for digital printing and personalization, growing sustainable and eco-friendly printing practices, e-commerce packaging and labeling, data-driven marketing solutions, online printing and print-on-demand. Major trends in the forecast period include adoption of artificial intelligence technologies, iot integration, technological advancements, automation and workflow efficiency, and packaging innovation.
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Market Drivers and Trends:
The growing advertising needs of enterprises across the globe is driving the growth of commercial printing services. Advertising helps businesses to reach the right audience with positive and focused messaging that converts potential customers into paying customers and also helps to reach the right audience with targeted messaging that converts potential consumers into loyal customers. Therefore, an enterprise across the globe has been adopting different advisement mediums to grow their business and approach the target audience. According to the Pitch Madison Advertising Outlook Report 2022, In India, ad spending on print media increased by 39% to 16,595 crores in 2021 from 11,925 crores the previous year. Therefore, the growing advertising needs of enterprises across the globe will increase the demand for commercial printing services during the forecast period.
The green commercial printers are a key trend gaining popularity in the commercial printing service market. The commercial printing service providers are adopting green commercial printers that employ environmentally friendly paper, inks, varnishes, and chemicals, as well as waste reduction and reuse. For instance, in January 2021, Solopress, a UK-based company, announced the launch of a new range of environmentally friendly print products called Solopress Green. The new line includes a variety of high-quality items that are printed on recycled paper types. Also, all carbon emissions are compensated by funding climate-related projects. Customers can generate an outstanding suite of eco-friendly stationery and promotional print with options such as Business Cards, Flyers & Leaflets, Postcards, Greetings Cards, and Stickers, as well as additional goods slated for the future.
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Major Key Players of the Market:
Quad/Graphics Inc., Dai Nippon Printing Co. Ltd., ACME Printing Inc., Quebecor World Inc., Toppan Printing Co. Ltd., R.R. Donnelley & Sons Co., Transcontinental Inc., LSC Communications LLC, Gorham Printing Inc., The Magazine Printing Company, Workflow Imaging Systems Limited, World Color Press Inc., Bertelsmann SE & Co KGaA, Cenveo Corporation, Cimpress PLC, Ennis Inc., O'Neil Printing Inc., Taylor Communications Corporation, The Standard Group, The Vomela Companies, The Garvey Group LLC, The Sheridan Group, The Segerdahl Corporation, The John Roberts Company, The Dingley Press Inc., The C.J. Group of Companies, The Bureau of Engraving and Printing, Yunker Industries Inc., Strategic Factory, HBP Inc.
Commercial Printing Services Market 2024 Key Insights:
• The commercial printing services market size is expected to see steady growth in the next few years. It will grow to $817.73 billion in 2028 at a compound annual growth rate (CAGR) of 3.5%.
• Increasing Advertising Needs Propel Global Demand For Commercial Printing Services
• Rise Of Green Commercial Printers: Sustainable Practices In Commercial Printing Services
• Asia-Pacific was the largest region in the commercial printing service market in 2023 and is expected to be the fastest-growing region in the forecast period
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