Companies covered in Photobook and Album Market are Utopia Deals (U.S.), Grund America (S.), Dunroven House (S.), Orahome (S), Iris Hantverk (Sweden), The DMC Corporation (France), MATTEO (U.S.), ELSATEX Ltd. (K.), Red Land Cotton (S.), Danica Studio (Canada), and more players profiled.

Pune, India, Nov. 01, 2022 (GLOBE NEWSWIRE) -- According to Fortune Business Insights™, the global photobook and album market size was valued at USD 3.36 billion in 2021 and USD 3.41 billion in 2022. The market is expected to reach USD 4.42 billion by 2029 with a CAGR of 3.75% during the forecast period. Rising usage of the product for clicking pictures by photographers, fashion designers, artists, and other types of photos is anticipated to drive market growth. Married couples keeping photos of their weddings as a souvenir is expected to propel the market course. The trend of having pregnancy photoshoots to remember the time is expected to facilitate market development. Fortune Business Insights™ shares this information in its report titled “Photobook and Album Market, 2022-2029.”

COVID-19 Impact:

The shutdown of Various Destinations During the Pandemic Affected Market Growth

Due to COVID-19, there was the shutdown of wedding venues and other travel destinations worldwide due to lockdown limitations. Companies faced problems in managing operational costs due to rising prices and shortage of raw materials that limited the market growth for photobooks and albums.

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Photobook and Album Market Report Scope & Segmentation:

Fortune Business Insights™ lists out all the photobook and album companies that are presently striving to reduce the impact of Covid-19 pandemic on the market:

• Mixbook (U.S.)

• Picaboo (U.S.)

• Shutterfly, LLC. (U.S.)

• Photobook Worldwide (Malaysia)

• Claranova (France)

• Fujifilm Corporation (Japan)

• PikPerfect (Switzerland)

• Folio Albums Ltd. (U.K.)

• MILK Tailor Made Books Ltd. (New Zealand)

• nphoto (Poland)

Report Coverage

The report provides a detailed analysis of the top segments and the latest trends in the market. It comprehensively discusses the driving and restraining factors and the impact of COVID-19 on the market. Additionally, it examines the regional developments and the strategies undertaken by the market's key players.

Drivers and Restraints

Increasing Smartphone Penetration to Boost Market Trajectory

Deep penetration of smartphones is anticipated to drive the photobook and album market growth. Capturing of videos and photographs on smartphones is becoming essential globally which is anticipated to create demand for photobook and albums. Integration of AI-based photo printing applications, such as Snapfish, Shutterfly, and others, is expected to pose opportunities for the market growth. Increasing number of weddings globally is expected to propel market development. Albums covering memories of pregnancy stages, such as baby showers, ultrasound, baby bump journey, and gender reveal parties’ photoshoots, are anticipated to create opportunities for the market.

However, high cost of the product is estimated to limit the market growth.

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Segments

Flush Mount to Dictate Due to Rising Consumer Preferences  

On the basis of the product type, the market is segmented into flush mount, lay-flat, and standard. Flush mount accounts for the large part due to consumer preferences such as wedding photographers, photo studios, and professionals offering flush mount books to their clients. Lay-flat segment is also expected to show significant growth due to its cost-effectiveness and soft quality covers of the albums.

Square Segment to Govern the Segment Due to High Easy Resizability

Based on size, the market is categorized into square, portrait, and landscape. The square segment is anticipated to hold a major part during the forecast period owing to high popularity of square books for placing photographs.

Regionally, the market is studied across South America, North America, Europe, Asia Pacific, and the Middle East & Africa.

Regional Insights

North America to Dominate Market Share due to Increasing Usage of Photobooks to Capture Life Moments

North America is expected to dominate the photobook and album market share due to its population using photographs to capture their life moments. The region reached a valuation of USD 1.29 billion in 2021 due to increasing demand for photo albums. Tradition of gift-giving amongst Gen Z and millennials is expected to fuel the growth for the product amongst consumers.

Europe is also expected to witness considerable market growth due to the presence of exotic destinations, pre-wedding shoots, and anniversaries.

Asia Pacific is anticipated to have a steady growth due to increasing number of festive celebrations and pre and post wedding shoots. Increasing number of festivals and rising tourism in countries, such as Japan, Singapore, and Thailand, will propel the market growth.

Competitive Landscape

Product Launch Strategies by Key Players to Advance Market Trajectory

Primary players in the market have used collaborative strategies to gain market traction. In April 2021, Max Spielmann launched AI Prints App created for both iOS and Android users. The application also allows users to select photos from Google Photos, Facebook, Instagram and can also mix & match all photos. It trims the photos automatically without having to cut the faces or any subjects accurately. Collaborative strategies adopted by the market players are anticipated to create and enhance brand’s image.

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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

• Key Insights

  • Overview of the Parent Market

  • Global Photobook and Album Market SWOT Analysis

  • Supply Chain and Regulatory Analysis

  • Recent Industry Developments – Mergers & Acquisition, Product Launches, Expansions & Partnerships)

  • Market Analysis and Insights (In Relation with COVID-19)

    • Impact of COVID-19 on the Market

    • Potential Opportunities due to COVID-19 Pandemic

• Global Photobook and Album Market Analysis, Insights and Forecast, 2018-2029

  • Key Findings / Summary

  • Market Analysis, Insights and Forecast- By Product Type

    • Flush Mount

    • Lay Flat

    • Standard

  • Market Analysis, Insights and Forecast- By Size

    • Square

    • Portrait

    • Landscape

  • Market Analysis, Insights and Forecast- By Region

    • North America

    • Europe

    • Asia Pacific

    • South America

    • Middle East & Africa

TOC Continued…!

Rеаѕоnѕ to Get thіѕ Rероrt:

• A qualitative and quantitative market study based on segmentation that includes both economic and non-economic factors

• Data on market value for each section and sub-segment

• Indicates the region and market segment that is likely to expand the fastest and dominate the market.

• The consumption of the product/service in each region is highlighted, as are the factors affecting the market within each region.

• The competitive landscape includes the top players' market rankings, as well as new service/product launches, collaborations, company expansions, and acquisitions made by the companies profiled in the last few years.

Key Industry Development

October 2021- Shutterfly LLC is an American photography that offers personalized products. It launched a new collection with Marie Kondo. The collection has photo books, ornaments, calendars, and home décor items with clean and elevated aesthetics, which are inspired by wabi-sabi.

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Frequently Asked Questions (FAQs):

1. Is the Photobook and Album Industry growing?

Answer: Fortune Business Insights says that the worldwide market size was USD 3.36 billion in 2021 and is anticipated to reach USD 4.42 billion by 2029.

2. Who are the key players in the Photobook and Album Market?

Answer: Mixbook, Picaboo, Shutterfly LLC, Photobook Worldwide, Claranova, Fujifilm Corporation, PikPerfect, Folio Albums Ltd., MILK Tailor Made Books Ltd., and nphoto are the leading companies worldwide.

3. What are Key Factors Raising the Market?

Answer: Increasing Smartphone Penetration to Boost Market Trajectory

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