The global photobook and album market was valued at USD 3.36 billion in 2023. The market is poised to expand to USD 4.39 billion by 2030, exhibiting a CAGR of 3.9% over the study period. The growth is due to the growing usage of the product by fashion designers, wildlife photographers, artists, and other professionals.
Information Source: https://www.fortunebusinessinsights.com/photo-album-market-104421
List of Key Players Profiled in the Photobook and Album Market Report:
- Shutterfly LLC. (U.S.)
- Mixbook (U.S.)
- Reischling Press, Inc. (U.S.)
- PikPerfect (Switzerland)
- Folio Albums Ltd. (U.K.)
- Moleskine S.p.A. (Italy)
- nPhoto (Poland)
- Canvera Digital Technologies Pvt. Ltd. (India)
- Albelli BV (Netherland)
- Kolo (U.S.)
- Midwest Photographic Resource Center, Inc. (U.S.)
Segments:
Flash Mount Segment to Become More Notable Due to Better Quality
The photobook and album market is split into flush mount, lay flat, and standard segments based on the type of product. Over the course of the projection period, the flush mount segment is expected to show a noticeable uptick. The product's exceptional quality and longevity are credited with the increase.
Landscape Segment to Show Significant Growth as a Result of Improved Storage
The photobook and album market is divided into three segments based on size: square, landscape, and portrait. With a respectable market share, the landscape category is expected to increase significantly during the forecast timeframe. The increase is due to more people using the products for improved family and wedding photo storage.
Report Coverage:
Throughout the projection period, the research covers the key trends that are increasing the global market share. It also provides an overview of the key factors driving market growth during the projected time frame. These conclusions are the result of in-depth investigation and reliable source data collection.
Drivers and Restraints:
Market Share to Rise Due to Growing Smartphone Demand
The need to capture important moments in life on smartphones is one of the main drivers of the expansion of the photobook and album markets. The growing popularity of Instagram, Snapchat, and other applications is another factor driving rising demand for the product.
However, as cloud storage technology advances, market expansion is probably going to be hindered.
Regional Insights:
North America to Emerge as a Leading Region Driven by Rising Involvement in Journalism Activities
Over the projected period, a notable expansion in the market share of photobooks and albums in North America is envisaged. An increase in blogging, photography, and journalism in the area is the main cause of the growth.
It is projected that the Asia Pacific market will increase significantly over the forecast timeframe. The increase in tablet, camera, and smartphone device users in China and India is the driving force behind the surge.
In addition, during the course of the research, the European market is expected to increase significantly. The increase is a result of rising product consumption in a number of nations, including the United Kingdom, France, Belgium, and Germany.
Competitive Landscape:
Industry Players Enter into Partnership Deals to Consolidate Market Position
Leading market participants are centered on the adoption of various steps to strengthen the industry position of their businesses. Some of the initiatives comprise merger agreements, acquisitions, and the rollout of new products. Additional steps include the formation of alliances.
Key Industry Development:
- January 2022 – Photobox Group merged with Albelli B.V. for enhancing the reach of its photo printing products in Europe.
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