Market Forecast By Distribution Channel (Instant kiosks, Online stores, Retail stores, Other categories) And Competitive Landscape
|Product Code: ETC433648||Publication Date: Nov 2022||Product Type: Market Research Report|
|Publisher: 6Wresearch||No. of Pages: 75||No. of Figures: 35||No. of Tables: 20|
Bangladesh Photo Printing and Merchandise Market is projected to witness tremendous growth during the forecast period on the back of growing popularity of personalised gifts to commemorate special occasions whether it is wedding, anniversaries, or birthday parties. Additionally, the rising trend of social media is also playing a great role in the Bangladesh Photo Printing and Merchandise Market Growth as people are sharing photos more frequently and are looking for the ways to printed out and display them in a photo frame to gift their family or friends. Moreover, there are several different types of photo printing and merchandise available, including photo books, pillows, calendars, cards, phone cases, mugs, and keyrings. The most popular type of product is photo books, which accounted for the highest market value and is popular among the individuals. There are various large number of small and medium-sized players in the market competing for Bangladesh Photo Printing and Merchandise Market Share.
According to 6Wresearch, Bangladesh Photo Printing and Merchandise Market is expected to grow during 2022-2028. The Asia Pacific Photo Printing and Merchandise Market is anticipating growth in the upcoming years on the account of mounting usage of social media and e-commerce in which people are looking for photos of their friends. Also, rising disposable incomes and enhanced lifestyle of consumers are further contributing to the growth of this market as they are more capable of spending their money on such things.
The Bangladesh Photo Printing and Merchandise Market has seen several major developments in recent years in terms of gaining popularity. The most significant changes have been the increasing popularity of online photo printing and merchandise services attributed to the growing number of internet users in Bangladesh rising affordability of web-based services. Moreover, increasing popularity of smart phone photography is another major factor driving the growth of Bangladesh Photo Printing and Merchandise Industry owing to the widespread adoption of smart phones and unlimited mobile data plans. Furthermore, more and more people can click and share photos which in turn creating opportunities for the market and its services. The growing demand for high-quality photo prints and merchandise is also fuelling the growth of this market by the country's rapidly growing middle class, which is gradually interested in preserving memories through pictures of every moment. However, lack of awareness about such services among consumers and high cost of digital cameras are hampering the market growth.
The Covid-19 pandemic had a significant impact on the Bangladesh Photo Printing and Merchandise Market. The outbreak of the pandemic has led to a decrease in demand for photo prints and merchandise, as people have been spending less on discretionary items. Consequently, this has resulted in a huge decline in Bangladesh Photo Printing and Merchandise Market Revenue.
Moreover, the Covid-19 pandemic has also led to a decrease in production capacity for various companies and manufacturing units as many factories have been shut down due to the lockdown measures implemented by the government. The Covid-19 pandemic is expected to have a long-term impact on the Bangladesh Photo Printing and Merchandise Market Size.
The Bangladesh Photo Printing and Merchandise Market based on distribution channel is segmented into Instant Kiosks, Online Stores, Retail Stores, and Other Categories. The online stores segment is expected to witness highest market share owing to the growing popularity among consumers during the forecast period.
The report offers a comprehensive study of the subsequent market segments:
1. What are the factors responsible for Bangladesh Photo Printing and Merchandise Market growth?
The increasing use of social media, and rising demand for customized and personalized gifts items are the major factors boosting the Bangladesh Photo Printing and Merchandise Market growth.
2. What are the key restraining factors for the Bangladesh Photo Printing and Merchandise Market?
The key restraining factors for the Bangladesh Photo Printing and Merchandise Market is the lack of awareness among consumers about the availability of such services and the high cost of digital cameras and printers are the factors hampering the market growth.
3. Which segment held the largest market share based on distribution channel?
The online stores segment is expected to held the largest market share due to increasing popularity of such services.
4. Why companies are investing in introducing new printing products to their customers?
To fulfil the demand of customers in terms of high-quality printing images, major companies are investing in bringing new products and technologies.