The photo print market has reached a state of equilibrium over the last several years, but prints remain a very relevant segment of the photo imaging market as they still appeal to consumers young and old, and still present opportunities to vendors, according to Rise Above Research, an industry marketing research firm.
2022 will see an overall volume increase of 1.5% as the market still recovers from the decline that occurred during the height of the COVID-19 pandemic, but the recovery is stymied from the rise in inflation, the company said. Photo prints are expected to generate nearly $1.4 billion of revenue in 2022, but growth in both volume and revenue will be flat through the forecast period. Nevertheless, there are still opportunities for photo print vendors to succeed.
“It’s been a challenging couple of years in the photo output market, as markets were first impacted by COVID-19 and now by inflation and high gas prices,” said David Haueter, director and founder at Rise Above Research. “While some consumers may cut back on printing to have more money for essential things, other consumers may print traditional photos rather than spend money on more expensive photo products,” he added. “We are encouraged to see that young people are printing photos and there are still ways to add value to prints to make them more appealing.”
The 2022 US Photo Prints Forecast: 2021-2016 provides a five-year forecast for traditional photo prints and includes volume, revenue, average selling prices, and breakouts of home, online and retail order channels. Commentary on key drivers and barriers impacting the market is also provided, as well as recommendations.