You may have heard the term ‘printing is dead’. But the current and predicted future trends suggest this couldn’t be further from the truth. The industry is set to see huge growth in the next 5 years. In 2020, the Global Commercial Printing Market had a value of $411.99 billion. By the end of 2026, it’s estimated to value $472.35 billion.
There have been a number of factors contributing to this predicted growth. One of the most significant being the impact of the pandemic. However, it may not be printing as we know it today. Here are a few popular predictions about where the industry is heading.
Graphics and publications
Newspaper printing, magazines and catalogues were some of the worst industries hit during the pandemic. As working from home became the new norm, it was much easier for consumers to find all of their information online. Not to mention the nationwide shut-down of shops, bars, restaurants and hotels meant the demand for graphics and commercial printing suffered a significant hit too.
Consumers have become accustomed to the online world of publication and print. Experts suggest that these forms of printing may never return to their former glory completely, despite lockdown re-openings. IKEA has announced that it will stop publishing its catalogue —once the largest print job in the world—after the 2021 edition.
Packaging and labels
The pandemic didn’t have the same impact on packaging. In fact, in some cases, packaging has seen a boost in demand. Panic buying and consumer stockpiling at the start of the pandemic led to a short-term boost at the beginning of 2020. Though that phase eventually dwindled, the industry has continued to see increased demand.
Labels have also been faring well during the pandemic. Healthcare solutions have and will continue to increase: warning labels, hand sanitisers, drugs and vaccines labels. Increased online shopping created a massive increase in the need for shipping labels.
Not to mention shelf appeal will continue to motivate brands as more and more goods are sold in supermarkets, being one of the few shops that remained open in full lockdown. It’s safe to say that labelling has reaped the benefits of a consumer-in-lockdown environment, and that demand will probably continue as we come out of the pandemic.
The rise of online industry
The rise of online and digital printing has been a big contender in the print industry for some time now. The pandemic has been a catalyst for an already booming industry. By 2030, the world will depend on online specifications, and online ordering will be the norm for both prints and printed packaging.
Lockdown also brought about the shutdown of retail and high streets, causing consumers to flow onto the world of eCommerce and online shopping. Compared to 2019, before the pandemic, the volume of eCommerce packaging has gone up by 40%. This is naturally going to boost digital and automated printing, finishing and distribution.
As demand increases, so will investments. Online and digital printing technologies are set to become more advanced and higher quality as the consumer market shifts from physical to digital. And with it, printing processes will shift from analogue to digital too.
It’s important for smaller businesses to take note of these trends. You don’t want to fall behind your bigger competitors. The move towards digital and online printing can be a daunting one, but AFP are here to help. Get in touch with us today for advice on your next steps.