#podmarket

The global Print On Demand market size is expected to reach USD 38.21 billion by 2030, growing at a CAGR of 25.8% over the forecast period, according to a new study conducted by Grand View Research, Inc. The increasing demand for personalized and customized apparel, rising disposable income, growing internet penetration & smartphone adoption, and the positive influence of the entertainment industry are some of the factors fueling the growth of the market.

Print on demand technology enables artists, designers, writers, and numerous entrepreneurs to sell custom-designed products by collaborating with white-label product suppliers. It eliminates the need to maintain an inventory, as after the confirmation of a sale; the supplier takes care of the order, including printing to shipping. Thus, with the increasing demand for personalized products, the growth of the print on demand industry is expected to rise exponentially shortly.

Print On Demand Market Report Highlights

The services segment is expected to witness the fastest CAGR of 28.2% from 2023 to 2030. The segment's growth can be attributed to an increasing number of service providers offering drop shipping and comprehensive fulfillment services, covering the entire process from production to delivery

The integrated software sub-segment dominated the market, accounting for a share of 59% in 2022. The software's ability to integrate with numerous e-commerce platforms offering ease of use and other customization aspects to enhance user shopping experience is attributed to the segment's growth

The apparel segment dominated the market in 2022, accounting for nearly 40% of the revenue share. The rapid transition towards custom-made fashion apparel and fast penetration of on-demand t-shirt printing are the major factors driving the growth of this segment

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The market has also benefitted from growing investments and the shift from brick-and-mortar to online business models, which drive the growth of print on demand. Global consumers' rapidly changing consumption patterns and the preference for hybrid shopping have further bolstered the market's growth.

The COVID-19 pandemic had both positive & negative impacts on the POD industry. In the initial emergence of COVID-19 in 2020, almost every industry was affected due to restrictions like lockdowns and social distancing measures imposed on business operations and processes. The pandemic disrupted global supply chains worldwide, impacting the availability of raw materials and technologies for the print on demand service providers. POD businesses heavily rely on definitive suppliers for raw materials, including standard apparel, accessories, inks, and printing equipment. Delays in production and shipping caused by factory closures, transportation challenges, and reduced workforce led to longer fulfillment times and potential customer dissatisfaction.

On the other hand, the adoption of online business models and changing preferences of consumers to buy goods from online retail platforms over local stores led to a huge surge in e-commerce sales, including the print on demand industry. As the demand for POD products increased, more entrepreneurs entered the market, leading to increased competition. New POD platforms emerged, offering various customization options and faster fulfillment. Established players had to adapt and innovate to maintain their market share.

Furthermore, the increasing disposable income of various consumer categories has expanded the opportunities for print on demand products. Consumers are more willing to invest in personalized clothing, accessories, home decor, and other items that reflect their individuality. With more disposable income, consumers explore niche markets and seek exclusive or premium items. POD businesses can leverage this trend by offering limited edition or high-end customized products that cater to specific interests, hobbies, or communities. This allows them to attract customers willing to spend more on unique and specialized goods.

The print on demand industry is highly competitive. Leading industry players are adopting strategies such as partnerships, collaborations, mergers and acquisitions, and agreements to survive the highly competitive environment and enhance their business footprints. In September 2022, Canva introduced Canva print products within its on-demand printing services. The company aimed to expand its print catalog, by offering doorstep delivery, free in-store pickup with automated proofing, and a 1 to 3-day turnaround time at affordable prices.

List of Key Players in the Print On Demand Market

Printify, Inc.

Printful Inc.

Canva

VistaPrint (Cimpress)

CustomCat

Gelato

Gooten

Printed Mint