Key Companies Covered in the Commercial Printing Outsourcing Market Research Report Are R.R. Donnelley & Sons Company, Dai Nippon Printing Co., Ltd., Transcontinental Inc., Cenveo Worldwide Limited, LSC Communications US, LLC, ACME Printing, Quad/Graphics, Inc., Cimpress plc (Vistaprint), Toppan Printing Co., Ltd., Bertelsmann SE & Co. KGaA, and other key market players.
New York, May 13, 2021 (GLOBE NEWSWIRE) — Despite the declining sales of newspapers worldwide, printed newspapers still held a major share of the total sales of both print and online newspapers, and the same is estimated to persist in the coming years. In the year 2016, the total number of newspaper readers around the world was estimated to be close to 4 billion, of which, about 3/4th of the share was attained by printed newspaper readers. Moreover, in 2017, the sales of printed newspapers registered close to 550 million units. On the other hand, the printed newspaper circulation revenue generated worldwide in the year 2017 was close to USD 83 billion.
Research Nester published a detailed report on the “Global Commercial Printing Outsourcing Market” which is studied for the period of 2020-2029. The report focuses on the growing trends, opportunities, growth driving factors, and the challenges associated with the market growth.
The concept of printing on different materials is not new and can be dated back to around 3500 BCE. Over the years, with the increasing need for information amongst individuals worldwide, and with the advancements in printing technology, the demand for commercial printing solutions has witnessed a massive surge. For instance, the average qualifying sales of some of the highest circulated daily newspapers in India in the year 2019 crossed 25 million. The global commercial printing outsourcing market is anticipated to grow with a significant CAGR during the forecast period, i.e., 2021-2029. The growth of the market can be attributed to the growing need amongst businesses for different types of promotional materials, along with the increase in advertisement spending by businesses worldwide. Globally, the media owners’ advertisement spending grew from around USD 400 billion in 2012 to about USD 600 billion in 2020.
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The growth of the market can also be attributed to the growing demand for consumer products worldwide, such as packaged foods, and the need amongst the manufacturers of these consumer goods to create attractive packaging that can help them to boost their sales. The United States registered a value of around USD 130 billion generated by the sales of packaged foods in 2018. On the other hand, the consumer goods market in the U.S., which was also the largest consumer packaged goods market around the world, attained a value of around USD 630 billion in the year 2019. Additionally, the market is also anticipated to grow on the back of the emerging print packaging industry and the numerous available opportunities associated with it. However, the increasing adoption of digital technologies, such as e-magazines, e-newspapers, and digital billboards among others, are some of the factors anticipated to hamper the market growth during the forecast period.
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Geographically, the global commercial printing outsourcing market is segmented into five major regions comprising North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa. Out of these, the Asia Pacific commercial printing outsourcing market is estimated to occupy the highest share by the end of 2029, primarily driven by nations such as China, India, Vietnam, and Thailand among others. The print industry in India, which was valued at around USD 4 billion in 2019, is one of the major industries in the nation which cater to the needs of different businesses. The nation also possesses a large number of publishing houses, which is anticipated to contribute to the growth of the market in the Asia Pacific region.
The study further incorporates Y-O-Y growth, demand & supply and forecast future opportunity in North America (United States, Canada), Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX [Belgium, Netherlands, Luxembourg], NORDIC [Norway, Denmark, Sweden, Finland], Poland, Russia, Rest of Europe), Asia-Pacific…