To decide whether a marketing push for a printing company on eco-friendly or sustainable printing is a good idea, it is necessary to understand if there is a market for eco-friendly printing or if printing as a market is dwindling is. Canadian data points are preferred.
The Printing Market
- The worldwide print industry is in a stage of transition. The total print volumes are forecasted to decline from 48.8 trillion A4 sheets in 2017 to 48.1 trillion sheets in 2022.
- The overall value of the printing market, however, will increase from $785.0 billion in 2017 to $814.5 billion in 2022 (0.8% year-on-year).
- While a significant portion of the the printing industry is being taken in by products such as e-books, online newspapers, and magazines, electronic transactions, and more, the demand for printed packaging and labels is growing.
- The commercial printing market is showing "high growth" because it is increasingly being used for advertising.
- The main drivers of the growth in the commercial printing market are technological advancements and innovations in packaging techniques.
- Due to new packaging solutions such as flexible and sustainable packaging, manufacturers in the market are "developing eco-friendly solutions that can reduce a environmental impact of business operations" such as water-based neo-pigment inks.
- 40% of the global print production is accounted for by packaging and labels.
- The forecasted growth for the digital package and label printing market until 2024 is 20%.
Summary of Findings
- As it was necessary to understand if there was a market for eco-friendly printing, the initial hour of research focused on the printing market/industry and whether it was in decline.
- The information found is suggesting that while there is a decline in showing in the printing industry, this does not apply for packaging and labels. It is in the packaging and labels segment where there is a need for eco-friendly packaging and therefore eco-friendly printing methods.
- During the initial hour of research, it was not possible to find information specific the to eco-friendly printing market, except for companies promoting their eco-friendly printing products and the trend mentioned surrounding packaging and labels. It was also not possible to find information specific to Canada.
Proposed next steps:
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