According to a recently released study titled “Print on Demand Market Size” conducted by the market-research firm Acumen Research and Consulting the global print-on-demand (PoD) market for custom-decorated apparel as well as hard goods is projected to attain a total market size of $59.3 billion, after growing at a compound annual growth rate (CAGR) of 25.6 percent from a baseline of $6.2 billion in 2022.
Per the report: the North America region continues to lead the way, representing over a third of overall market activity. However, growth in the Asian-Pacific region is forecast to record a CAGR of around 27.6 percent over the next few years—higher than the CAGR worldwide.
Custom Decorated T-shirts, Hoodies, Mugs, Books
In its study, Acumen included the market for everything from T-shirts and hoodies to hard-goods and other types of merch, including mugs, books and posters.
According to the study’s authors, “In recent years, there has been a growing interest in print-on-demand due to several factors. One of the key factors is the rise of e-commerce platforms…social media has (also) made it easier for individuals and small businesses to reach a global audience and market their unique designs.”
Personalized, Custom-decorated Apparel, Gifts
Other factors identified by the study include the increasing demand for personalized and unique products and advances in printing technology that have in turn “improved the quality and efficiency of POD services, making it possible to produce high-quality, custom products at affordable prices.”
Among the challenges facing the industry, the report identifies the need to maintain “consistent print quality across the many PoD platforms now in existence and fulfillment times. Among the opportunities are the gains that can potentially be made by emphasizing the use of eco-friendly materials and practices in an effort to attract environmentally conscious consumers.
Per the report’s authors, the apparel segment, in particular, is expected to witness significant growth in the coming years due to its ability to allow customers to combine individual expression and style with the convenience of online shopping.
Role of Social Media, Online Influencers
“One of the key drivers behind the growth of the apparel and fashion segment is the rise of social media and influencer culture, (which) has played a significant role in boosting the popularity of personalized fashion,” the report says. “Consumers are inspired by online personalities who showcase their own custom-designed apparel and accessories, driving demand for similar products. The fashion industry has also embraced the POD model to quickly respond to emerging trends and capitalize on short-lived fads, avoiding overproduction and waste.
For more information, or to obtain a copy of the complete report, click here.
