The Evolving Landscape Of The Global Printing Industry In 2024

The printing industry has undergone seismic shifts in recent years driven by changing consumer preferences and new technologies. But even in the digital age, print remains a vital medium for communication and marketing.

In this in-depth guide, we’ll analyze the latest trends, statistics, and future outlook to understand the evolving landscape of the global printing industry.

Key Printing Industry Statistics and Projections

The total global printing market was valued at $330.82 billion in 2022. It‘s expected to grow to $344.19 billion in 2024 at a 4% CAGR and reach $388 billion by 2026. (The Business Research Company)
The market size of commercial printing alone was $489.63 billion in 2022. This sector is predicted to expand at a 2.8% CAGR from 2023-2030. (Grand View Research)
E-commerce will be a major driver fueling the demand for printing. Online retailers in the US generated $265.9 billion in sales of printed products in Q3 2022 – a 3% increase year-over-year. (The Business Research Company)
Print book sales in the US rose by nearly $68 million in 2021, thanks to the rising popularity of print-on-demand services which allow customization. (Grand View Research)
The global packaging printing market is forecast to grow from $440.5 billion in 2024 to $569.2 billion in 2027 at an impressive 6.6% CAGR. (Verified Market Research)

It‘s clear the future still looks bright for the printing industry driven by major growth sectors like e-commerce and packaging. Next, let‘s analyze some of the key drivers reshaping the landscape.

E-Commerce Fueling Demand for Printing

With global retail e-commerce sales projected to reach $7.4 trillion by 2025, there has been an explosion in demand for packaging and shipping labels. As online retailers ship products worldwide, they rely heavily on commercial printing for:

High-quality product packaging
Customized boxes and mailers
Eye-catching marketing inserts
Shipping labels and tape
Return labels for exchanges/refunds

Red Stag Fulfillment CEO Mario Trujillo explained:

"We‘ve seen a major increase in orders for printed packaging and shipping supplies as our e-commerce clients grow. Customized boxes and eco-friendly mailers are popular since brands want to stand out."

This trend has been a boon for packaging printers and label manufacturers serving e-commerce businesses. Many traditional commercial printers have also shifted their focus towards digital printing and on-demand services to cater to online retailers.

Embracing On-Demand Printing

Another printing sector that’s thriving thanks to e-commerce is print-on-demand (POD) services. These allow businesses to order customized printed products in small quantities as needed rather than keeping large inventories.

Print-on-demand makes it economical for companies to test new marketing collateral, create specialized brochures tailored to different clients, or print branded merchandise for events. Top print-on-demand product categories include:

Books – Self-publishing printed books through POD has become popular with authors. In 2021, print book sales rose by $68 million in the US. (Grand View Research)
Photo products – Photo books, calendars, cards, and canvas prints can all be customized via POD.
Marketing & sales materials – Brochures, catalogs, sales sheets, and postcards.
Apparel – T-shirts, hats, jackets, and more with custom branding.
Signage – Banners, posters, vehicle wraps, and trade show displays printed on-demand.

POD empowers businesses to cost-effectively order customized collateral on a just-in-time basis. As the Chief Marketing Officer of Vistaprint explains:

“On-demand is unlocking customization and creativity for small businesses. With minimum orders of one, businesses can test ideas before investing in large inventory.”

The Rise of Digital Textile Printing

Beyond paper printing, digital textile printing is an area seeing rapid growth thanks to evolving technologies.

The global digital textile printing market is predicted to expand at a 12.2% CAGR to reach $8.5 billion by 2033, up from just $2.7 billion in 2024. (Statista)

Textile manufacturers are adopting digital inkjet printing technology to enable faster, higher-quality printing compared to traditional screen printing. Digital printing also streamlines workflows to reduce textile waste.

Some key drivers of digital textile printing’s growth include:

Mass customization – Digital printing makes it cost-effective to print customized fabric runs.
Speed & productivity – Single-pass printing methods enable inline printing at faster production speeds.
Industrial textiles – Digital technology prints technical fabrics for industry uses.
Sustainability – Digital methods reduce water, chemical use, and textile waste.

"Digital textile printing dovetails with consumers’ growing desire for personalized, creatively-designed fabrics while enabling shorter production runs." – Smithers industry analyst

Major athleticwear brands like Nike and Adidas have helped drive the adoption of digital textile printing with their on-demand customization platforms. Home furnishing companies also utilize digital printing for custom furniture upholstery and unique curtains, sheets, or quilts.

The Environmental Impact of Printing

However, the printing industry as a whole still faces environmental challenges due to paper consumption and waste.

Paper consumption in the US alone jumped from 92 million tons in 1990 to 208 tons in 2020 – an average 2% annual increase. (Impact Biz)
A typical office worker prints about 8874 pages per year, 17% of which goes unread or discarded. (Impact Biz)

Reducing unnecessary printing and paper waste provides cost and sustainability benefits. Best practices for businesses include:

Setting printer defaults to double-sided printing
Using online file sharing platforms versus printed handouts
Sending digital invoices and statements instead of mailed paper
Training staff on smarter printing habits
Recycling used paper products

“There’s still substantial room for improvement when it comes to optimizing paper usage in most organizations,” says sustainable business expert Claire Arnot. “But even basic employee education around reducing printing and proper recycling can make an impact.”

The Outlook Going Forward

It’s clear commercial, packaging, and digital printing remain essential services in a variety of industries. While electronic media has disrupted some print sectors, new growth drivers have emerged around e-commerce and on-demand printing.

Customization and personalization are key trends that will further fuel printing innovations. This includes technologies like variable data printing and 3D printing that enable mass customization cost-effectively.

As printing technology evolves and consumer expectations around customization rise, businesses can embrace digital channels while still seeing print as an impactful part of their marketing mix.

Balancing digital efficiency with high-quality, targeted print collateral is key for forward-thinking brands in 2024 and beyond. Those that leverage printing innovations while optimizing paper usage will have a strategic edge.