Print on Demand in 2024
The Print on Demand (PoD) market experienced record-breaking growth in 2023 and this trend looks set to continue throughout 2024 and beyond. In this edition of the Brickweb blog, we look at some of the industry's recent statistics as well as predictions for the coming year...
Straits Research carried out in-depth analysis of vast amounts of data, concluding that the global PoD market had a value of around £4.24 billion at the start of 2023. Extrapolating on the data, the leading market research company projected that this figure would skyrocket to £30.68 billion by 2031. This represents a remarkably high CAGR (Compound Annual Growth Rate) of over 26%.
The PoD market has been steadily growing since it first began back in 1993. Results of research by Ahrefs have revealed that at the beginning of the COVID-19 pandemic in March of 2020, the number of searches for the term spiked; today, this figure is still far above pre-pandemic levels and growth has continued accelerating. Researchers at Ahrefs noted these results clearly showed that PoD has 'sustained its popularity and relevance even after the initial surge of interest'.
Leading PoD company Printful has shared details of 2023's top-trending products. Items of custom apparel (such as t-shirts, hoodies and hats) were the most popular but there was also significant growth in demand for accessories including phone cases, mugs and stationery. Market Decipher has predicted that home decor products will experience the sharpest rate of growth (a 27.7% CAGR) in the PoD market between 2024 and 2032; the projected rise was partially attributed to the increasing number of people working from home.
The demand for sustainable products continues to grow; data from RoundUp showed that almost three-quarters (73%) of millennials would be willing to pay more for merchandise that is produced sustainably. In their recent report, RoundUp projected that the value of the global market for eco-friendly apparel will grow to £1.23 billion by the end of next year.
This demand is set to further drive the growth of the PoD market, which is more sustainable than more traditional production techniques in numerous ways. Fortune Business Insights carried out research into this topic, concluding that digital printing technologies reduce the consumption of electricity by almost 30% as well as using as much as 90% less water. In addition, PoD products are only made after they have been ordered; this means that every item is sold and there is no waste.
There has never been a better time to become part of the PoD industry but you do need to have an edge over the competition. That's where Brickweb can help. Our expert team has created The Brick Factory, a turnkey solution that allows you to manage every aspect of a PoD operation from product design to drop shipping and every step in between.
We invite you to read all about this revolutionary business automation tool on our website to get an overview of its numerous features. The next step is to get in touch with our team to book a demonstration so you can experience these uniquely-powerful features for yourself. Provided absolutely free of charge and obligation, the demo will cost you just one hour of your time and could be the start of a bright, exciting and seriously lucrative 2024...