According to Grand View Research, the Print On Demand Industry is worth USD 4.90 billion in 2021 and is predicted to grow at a CAGR of 26.1% between 2022 and 2030.
This business has gained popularity among aspiring entrepreneurs looking for simple alternatives to produce big revenues while showcasing their creative side.
This blog post explores the current and projected revenue, market size, and key statistics of the POD industry.
It highlights the factors driving the growth of this sector, regional trends, and the potential for success in this lucrative market.
Whether you’re an aspiring entrepreneur or an established business owner, this post provides valuable insights into the booming world of Print on Demand.
Print on demand market size
The desire for bespoke products is increasing, with around 48% of buyers willing to wait longer to acquire their preferred item. Another significant factor has been the change from traditional retail to eCommerce. The pandemic triggered the print-on-demand market size, which increased from 13.8% in 2019 to 19.6% in 2021.
Between 2017 and 2020, the POD industry grew by 12%. The Covid-19 pandemic hurt practically all companies save the Print on Demand industry, which was gaining popularity. There are various reasons for its expansion.
One reason has been increased environmental consciousness and demand for sustainable and eco-friendly products. According to a 2021 poll, 27% of buyers had tried sustainable products, with 25% spending on sustainable fashion. This means print on demand has replaced quick fashion as the more sustainable alternative. Wastage is reduced because things are only manufactured after a sale has been confirmed.
Other facts include the fast-changing world of fashion trends, more disposable income, and technological breakthroughs in printing.
Here are some statistics that prove the high demand growth of this industry, according to the print-on-demand market research report.
- The Print On Demand market size in 2023: USD 12.5 billion
- Projected Compound Annual Growth Rate (CAGR) from 2023 to 2030: 10%
- Forecasted market size by 2030: USD 25.8 billion
Market drivers for print on demand
While other industries struggled during the pandemic, print-on-demand was experiencing unprecedented growth. Here are some of the elements that have influenced this.
To begin with, there is an increasing demand for personalized and one-of-a-kind products. Many consumers (36%) expect customisation by default and are willing to wait longer for personalised products (48%). Because print-on-demand products are created to order with no minimums, even a single product with a specific design can be fulfilled. This brings up the possibility of meeting a desire for personalisation while remaining profitable.
Source: Statista
Another aspect is the change from traditional to e-commerce retail. COVID-19 caused us all to develop new habits, and online shopping will persist long after the epidemic. In 2021, online will account for 18.8% of worldwide retail sales. It is expected to reach 24% by 2026, up from 19.7% in 2022. That’s a nearly 6% increase in just four years.
Print on demand success
Print-on-demand will be profitable for new sellers and the near future. According to an analysis of Shopify, a multinational e-commerce firm, print-on-demand stores can make a 15% – 20% profit margin.
The market in the United States is rapidly expanding. The global market for this business was assessed at 4.9 billion dollars, according to the research Print-on-demand Success in 2021. The market will grow at a CAGR of 26.1% between 2022 and 2030. This rate is significantly greater than in the preceding period.
Print-on-demand is not going away anytime soon. Although incumbent merchants control most of the market, newcomers still have excellent opportunities. As the first mover, you will benefit from increased income, internet coverage, smartphone usage, and customised products.
Furthermore, there are always gaps in the market that you may exploit:
Numerous niche products: The number of niche concepts will continue to grow yearly as the economy develops. Furthermore, not every POD company sells the same products in the same sector. As a result, you might begin with various and novel concepts.
People are more concerned about quality now that the POD market has been eliminated. Shops that imitate competitors or provide poor items and services will fail rapidly. You can join with amazing products and a great customer service policy.
There is no such thing as an ideal POD business: Nothing in the world is flawless. Reading reviews, pricing, shipping, and return policies of a POD business will reveal the competitors’ flaws. Then you can determine how to improve and use them to your advantage.
Print on demand statistics
The global print-on-demand market size was accounted at USD 6.34 billion in 2022, and it is projected to be worth around USD 67.59 billion by 2032, growing at a CAGR of 26.71% over the forecast period from 2023 to 2032.
Source – Precedence Research
A move toward garments with bespoke graphics and rising interest in recycled materials are also positively influencing the digital textile printing market. (According to Allied Market Research)
According to Grand View Research, the apparel segment dominated the global print-on-demand market with a share of 39.6% in 2021.
In 2021, the sublimation segment held the largest market share, and it’s predicted to increase its market share to over 53% by 2030. Furthermore, according to Globe Newswire, sublimation ink will experience the most rapid growth among ink types during the forecast period.
According to Precedence Research, North America will dominate the global market between 2023 and 2032. Asia Pacific is expected to expand at the fastest CAGR of 28% between 2023 and 2032.
In December 2022, approximately 3.47 billion meters of clothing fabric were produced in China. (Statista)
According to Grand View Research, the home décor segment is predicted to grow fastest, with a CAGR of 27.7%. The increase can be related to the global increase in remote working since the pandemic since more individuals are staying at home and wanting to improve their living environment.
Regarding sustainability, digital printing technology cuts water use by over 90% and power consumption by about 30%. (According to Fortune Business Insights)
Clothing/apparel, home decor, soft signage, and industrial are the four major categories of the digital textile printing market. In 2022, the clothing/apparel segment will account for over about.
Higher demand for sustainable printing, constantly changing fashion trends, higher purchasing power, lower per-unit printing costs, the trend toward automation, and new technologies being developed in the textile industry are the primary drivers of market expansion. (According to Mordor Intelligence)
Read more
- Print on Demand Dropshipping: 21 Actionable Points to Start and Scale Successfully
- Is Dropshipping worth? 10 Things to know To Make It Worth!
- Dropshipping vs Print-On-Demand: Which Is Profitable in 2023? (A Detailed Guide)
- 10 Smart Pricing Strategies for Print-on-Demand Products
- List of Best Dropshipping Niches to Choose From
Frequently Asked Questions
What is the projected revenue and market size for the Print on Demand industry in the coming years?
According to Grand View Research, the Print On Demand Industry is worth USD 4.90 billion in 2021 and is predicted to grow at a CAGR of 26.1% between 2022 and 2030.
Which regions or countries have shown significant growth in the Print on Demand market, and what factors contributed to this growth?
North America dominated the market in 2021 and is expected to continue throughout the forecast period. The market is growing due to factors such as technical infrastructure, stable economies, and the presence of production facilities for print-on-demand items.
Over the forecast period, Asia Pacific is expected to have the highest CAGR of 27.9%. The presence of big market participants can be contributed to the growth.
What are the key factors driving the revenue growth of the Print on Demand business?
The primary growth drivers for the print-on-demand market value include increasing internet penetration, smartphone use, and many online shoppers. Technological developments and numerous large textile facilities are projected to help the regional market grow.
How does the revenue of the Print on Demand industry compare to traditional printing methods?
Traditional printing presses and digital printing presses differ in various ways. Digital printing presses can print on a variety of surfaces without the use of printing plates. Digital printing is a more efficient and cost-effective way of printing. The majority of consumer printers are now digital printers. Hence, print-on-demand is more profitable compared to traditional printing.
Are there any specific niches or product categories within the Print on Demand market that have experienced exceptional revenue growth?
The home décor business in the United States has been rising as the number of people owning homes in the country has increased – Mordar intelligence
The rising introduction of premium products is the primary driver of the wall decor market. (Source: Business Wire)
North America has the greatest market share for wall decorations, accounting for more than 40% of total global market value- Globe Newswire
In the United States, the wall art segment accounts for the lion’s share (75%) of the wall decor market. (Source: Business Wire)
Increased demand for personalized and personalised wall décor is one of the top wall decor trends in the United States – PR Newswire
With over 6+ years of experience in the industry, Ayushi excels in building strong customer relationships and guiding clients toward growth as a Brand Partnership Manager. She enjoys sharing her experience in her content.
