Book Printing Market - Global Outlook and Forecast 2019-2024
The global book printing market is anticipated to reach values of around $49 billion by 2024, growing at a CAGR of more than 1% during 2018-2024.
The growing preference for offset printers and the rise in adoption of small and large-scale digital printing capabilities is expected to transform the market over the next few years. The rising trend of demand for shorter run printing jobs, fueled by increasing self-publishing and print-on-demand orders will create lucrative opportunities for leading vendors operating in the market.The global book printing market is driven by business consolidation and the rising number of self-publishing opportunities. The introduction and adoption of digital printing capabilities will revolutionize the global market over the next few years. The market research report provides in-depth market analysis and segmental analysis of the global book printing market by type, revenue channels, and geography.
The report considers the present scenario of the global book printing market and its market dynamics for the period 2019−2024. It covers a detailed overview of various market growth enablers, restraints, and trends. The study covers both the demand and supply sides of the market. It also profiles and analyzes the leading companies and various other prominent companies operating in the market.
Book Printing Market – Dynamics
The increase in the sales of printed books signals the return of readers and customers toward this format. With helping from declining sales and demand for e-books, the printed books are witnessing an enduring appeal and demand. The books are becoming priced possessions and carry an image of objects of beauty. Reading has also been one of the favorite pastimes of people of all ages across the globe, ranking after only to watching TV and listening to music. The publishers and book printers now invest significant time and resources to make beautiful and alluring books.The online commerce platforms are presenting opportunities to both direct and indirect clientele of book printing. The clients include publishers, authors, and agents who utilize online platforms to place their orders to book publishers and manufacturers. Such developments in the marketplace are allowing the book publishers and traders to expand their clientele from large corporates to an increased number of small and individual customers. The trend of book publishers and traders expanding their customer and target base is generating a new increase in book printing jobs, thereby driving the global book printing market.Gutenberg contributed to print with the development of a punch and mold printing mechanism, which enabled mass production of movable type casts used to print a page of text multiple times. The letters were put together in the order in a type tray and used to print a page of the book. If a letter piece broke down, it was easily replaced. After the printing, the required number of copies of one sheet, the letters in type tray could be rearranged and reused for the next page of the book.The entire process of book manufacturing has seen tidal shifts and reached where it is now.
Book Printing Market – Segmentation
This market research report includes a detailed segmentation of the market by type, revenue channels, and geography.The book printing market by type is classified into children’s books, educational and professional books, leisure and lifestyle books, and other books. Leisure and lifestyle books dominated more than 1/3rd of the total market share in 2018, growing at a CAGR of over 1% during the forecast period. The rapid changes in the lifestyle of consumers and exponential increase in marketing and advertising activitiesare positively impacting the growth and development of this segment in the global market. The use of expensive glossy paper and color printing technologies is one of the major factors contributing to the revenues in this segment in the global market.The market for children’s print books is facing intense competition from several substitutes, some even backed by scientific researches, to maintain a significant share of time-use. The share of time-use is getting distributed among several day to day activities including study and school time, toys, indoor as well as outdoor games, and an increasing amount of digital content curated for children.
The revenue channel segment in the global book printing market is divided into publishers and self-publishing. Self-publishing is the fastest growing segment in the global market, at a CAGR of approximately 17% during the forecast period. Self-publishing is the upcoming trend, gaining high traction among independent authors in the global market. Self-publishing is a very cost-effective way to publish a book as it removes the need for publishers and book agents in the market. This method is encouraging smaller, independent authors to get their work marketed to a large group of consumers at a significantly lower price.Books are also available to consumers through the publisher’s online shopping websites as well as online direct-to-consumer publishing and distribution channels such as Amazon KDP, Draft2Digital, Barnes & Noble, and Pronoun. Online sales accounted for over 40% of the distribution channel for books, while sales from mass merchants and book stores accounted for the remaining share. The major reasons for the spurt in online sales across major toy markets are the availability of variety and instant price comparison.
Market Segmentation by Type
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