Pune, India, April 26, 2023 (GLOBE NEWSWIRE) -- The global photobook and album market size was valued at USD 3.29 billion in 2022. The market is poised to expand from USD 3.36 billion in 2023 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.
This information is provided by Fortune Business Insights™ in its research report, titled “Photobook and Album Market, 2023-2030”.
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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.)
Report Scope & Segmentation:
| Report Attributes | Details |
| Forecast Period | 2023-2030 |
| Forecast CAGR | 3.9% |
| 2030 Value Projection | USD 4.39 Billion |
| Market Size in 2022 | USD 3.29 Billion |
| Historical Data | 2019-2021 |
| No. of Pages | 191 |
| Report Coverage | Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends |
| Segments Covered |
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| Regions Covered |
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| Photobook and Album Market Growth Drivers | Rising Demand for Smartphones to Surge Product Demand |
| Regular Introduction of Photo Capturing-Related Campaigns to Support Market |
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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.
COVID-19 Impact:
Industry Share Affected Due to Worldwide Lockdown
The pandemic led to a decline in demand for labs and photo booths due to lockdown restrictions. The product sales were further impacted by the closure of travel destinations and the shutdown of wedding venues. The market growth was further impacted by a range of issues focused on the management of operational costs.
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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.
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Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Emerging Trends
- Key Insights
- Overview of the Parent/Related Markets
- Industry SWOT Analysis
- Supply Chain and Regulatory Analysis
- Recent Industry Developments - Policies, Partnerships, New Product Launches, and Mergers & Acquisitions
- Qualitative Analysis (in relation to COVID-19)
- Impact of COVID-19
- Potential Opportunities due to COVID-19
- Global Photobook and Album Market Analysis, Insights, and Forecast, 2019-2030
- Key Findings / Summary
- Market Size Estimates and Forecast
- By Product Type (Value)
- Flush Mount
- Lay Flat
- Standard
- By Size (Value)
- Square
- Landscape
- Portrait
- By Region (Value)
- North America
- Europe
- Asia Pacific
- South America
- Middle East & Africa
- By Product Type (Value)
TOC Continued...!
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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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