LONDON--(BUSINESS WIRE)--Technavio market research analysts forecast global photo merchandising market to post a CAGR of over 8% during 2018-2022. However, the growth momentum of the market is decelerating as the year on year growth is decreasing.
One of the key trends in the market that is expected to impact market growth positively is the advent of 3D photo products. Vendors of personalized gifts are introducing technologically advanced products such as 3D printed beverage-ware, perfume bottles, and smartphone and tablet cases. As these products are priced higher than the regular personalized gifts, they are targeted at the premium consumer segment.
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In this report, Technavio researchers identify the growing gifting culture as one of the key factors contributing to the global photo merchandising market:
Growing gifting culture
Gifting culture is gaining popularity across the globe. The sales of photo merchandising increase particularly on holidays like New Year, Christmas, Halloween, Easter and Hanukkah. Additionally, events such as Father’s Day or Mother’s Day are providing opportunities for retailers to increase their sales. Customizing gifts through personalization, configuration, or on-demand printing enables differentiation of general gifts making them unique and adding to their value.
According to a senior analyst at Technavio for internet and e-commerce research, “The growth in the global economy has also benefitted the global photo merchandising market as there is an increase in the disposable income of consumers. With the improvement in the standard of living, consumers can afford to splurge on these products, which will drive the growth of the market.”
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Global photo merchandising market - segmentation and analysis
This market research report segments the global photo merchandising market by product (wall décor, photo cards, calendars, and photo gifts) and key regions (the Americas, APAC, and EMEA).
The wall décor segment held the largest share of the market in 2017, accounting for close to 30% of the market closely followed by the photo cards segment. The photo gifts segment held the smallest share of the market in 2017, but it is expected to witness the maximum increase in its market share during the forecast period.
In 2017, the Americas held the largest share of the market accounting for over 56% of the total revenue, followed by EMEA and APAC. The market share of APAC is expected to witness the maximum increase over the forecast period, while that of the Americas will decline.
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