The global photobook and album market size was valued at USD 3.36 billion in 2023. The market is poised to expand from USD 3.42 billion in 2024 to USD 4.95 billion by 2032, exhibiting a CAGR of 4.72% over the study period. The growth is due to the growing usage of the product by fashion designers, wildlife photographers, artists, and other professionals.
This information is provided by Fortune Business Insights™ in its research report, titled “Photobook and Album Market, 2024-2032”.
List of Key Players Mentioned in the 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.)
Information Source: https://www.fortunebusinessinsights.com/photo-album-market-104421
Segments:
Flash Mount Segment to Gain Prominence Owing to Superior Quality
Based on product type, the market for photobook and album is subdivided into flush mount, lay flat, and standard. The flush mount segment is anticipated to depict an appreciable surge over the forecast period. The rise is attributed to the durability and superior quality of the product.
Landscape Segment to Depict Notable Growth Due to Advantage of Better Storage
On the basis of size, the market for photobook and album is segmented into square, landscape, and portrait. The landscape segment held a commendable share in the market and is anticipated to register substantial growth over the estimated period. The rise is driven by increasing product usage for better storage of family and wedding photographs.
Report Coverage:
The report provides a coverage of the major trends augmenting the global market share throughout the forecast period. It further furnishes an analysis of the vital aspects impelling industry expansion over the estimated period. These insights have been provided after extensive research and data collation from credible sources.
Drivers and Restraints:
Market Share to Rise Due to Growing Smartphone Demand
One of the key factors propelling the photobook and album market growth comprise an increase in smartphone demand for capturing special life moments. The product demand is further supported by the escalating popularity of Instagram, Snapchat, and other applications.
However, the market expansion is likely to be hampered by increasing advancements in cloud storage technology.
Regional Insights:
North America to Emerge as a Leading Region Driven by Rising Involvement in Journalism Activities
The North America photobook and album market share is expected to depict appreciable expansion over the anticipated period. The rise is driven by an upsurge in journalism, blogging, and photography activities in the region.
The Asia Pacific market is anticipated to register considerable growth throughout the estimated period. The surge is impelled by the increasing number of tablet, camera, and smartphone device users in India and China.
Furthermore, the Europe market is slated to record notable growth over the study period. The escalation is due to the growing product consumption in various countries such as France, Belgium, Germany, and the U.K.
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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