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Asia Pacific Photobook and Album Market Size, Share & COVID-19 Impact Analysis, By Product Type (Flush Mount, Lay Flat, and Standard), By Size (Square, Portrait, and Landscape), and Regional Forecast, 2023– 2030

Last Updated: May 27, 2024 | Format: PDF | Report ID: FBI107493

 

KEY MARKET INSIGHTS

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Asia Pacific exhibited the third leading global photobook and album market share in 2022. The Asia Pacific market is projected to grow at a CAGR of 4.2% during the forecast period. The global market is projected to grow from USD 3.29 billion in 2022 to USD 4.39 billion by 2030.


Photobooks and albums are considered a gifting option among the Chinese and Japanese. Evolving gift-giving trends among the population in these countries and their spending on premium photo printing products are mainly driving the Asia Pacific photobook and album market growth.



  • As per the surveyed data presented by JingDong, a Chinese online shopping goods platform, nearly 70% of Chinese consumers prefer buying gifting goods for their parents.


The Asia Pacific photobook and album market share is analyzed across the following countries/regions – China, India, Japan, Australia, Singapore, Indonesia, Malaysia, Vietnam, Thailand, and the rest of Asia Pacific.


LATEST TRENDS


Increasing Penetration of Digital Cameras to Favor Growth


Increasing adoption of innovative photo image-building technologies, including digital cameras creates newer market growth opportunities. In addition, rising demand for higher resolution feature-based smartphones will likely increase the photobook product demand in the Asia Pacific region.



  • According to the data presented by Camera & Imaging Products Association (CIPA), the total shipment of digital still cameras in Japan reached USD 7.08 million in 2022.

  • According to the data published by the China Academy of Information and Communications Technology (CAICT), smartphone shipments in China grew by 94.3%, 236.6%, and 67.7% in January 2021, February 2021, and March 2021, respectively.


DRIVING FACTORS


Rising Number of Photographers Offering Professional Photography Services to Drive Market Growth


Professional photographers such as wildlife photographers, artists, fashion designers, model photographers, portfolio makers, and others are increasingly offering professional photography and photo printing services to their customers. The rising number of professional photographers favors the market growth.



  • According to data presented by the Government of Australia, as of September 2021, there are 14,800 employed photographers in Australia.


RESTRAINING FACTORS


Increasing Consumer Preference for Storing Photographs on Cloud Platforms to Limit Market Growth


The growing popularity of using digital cloud platforms such as Google cloud, iCloud storage, and others to store photographs is expected to limit the consumer demand for photobook products in Asia Pacific. Furthermore, advancement in digital cloud storage technology and its increasing application in smartphone devices is limiting the Asia Pacific market.



  • As of July 2019, there were approximately 1 billion active users of Google Drive and Google Photos every second.

  • In August 2022, Google LLC.'s digital cloud business expanded its presence by offering a free data storage facility of up to 15 GB and paid storage for up to 2 TB in Asian countries, which include Malaysia, Thailand, and New Zealand.


KEY INDUSTRY PLAYERS


The key players are focused on adopting new technology with the introduction of AI and e-digital competency in the business. Branding, promotions, acquisitions, new product launches, mergers, joint ventures, and others are the effective strategies used by these manufacturers to hold a presence in the market and gain maximum revenue. Photobook Worldwide, Past Book, and Fujifilm are some of the major firms dealing in the Asia Pacific market. The photobook and album market is anticipated to witness higher growth in Asian countries.


LIST OF KEY COMPANIES PROFILED:



KEY INDUSTRY DEVELOPMENTS:



  • September 2019: Photobook.AI partnered with HP, Inc. to showcase its photobook service features at Guangdong Modern International Exhibition Center, Dongguan, China.


REPORT COVERAGE


To gain extensive insights into the market, Request for Customization


The Asia Pacific photobook and album market research report provides a detailed market analysis. The report also provides a detailed market outlook and market forecasts based on different product types. It focuses on critical aspects such as an overview of the cost structure of the albums, the Asian industry supply chain, and the adoption of technology affecting the Asia Pacific photo album industry.


In addition, the report provides detailed information on new product launches, key industry developments such as mergers, partnerships, & acquisitions, and the impact of COVID-19 on the market. Besides this, the report offers insights into fundamental industry dynamics, market trends, and outlooks. In addition to the abovementioned factors, it encompasses several factors that have effectively contributed to the market growth in recent years.


Report Scope & Segmentation






















































  ATTRIBUTE



  DETAILS



Study Period



2019-2030



Base Year



2022



Estimated Year



2023



Forecast Period



2023-2030



Historical Period



2019-2021



Growth Rate



CAGR of 4.2% from 2023 to 2030



Unit



Value (USD Billion)



Segmentation



By Product Type, Size, and Country/Sub-Region



By Product Type




  • Flush Mount

  • Lay Flat

  • Standard



By Size




  • Square

  • Portrait

  • Landscape



By Country/ Sub-Region




  • China (By Product Type)

  • India (By Product Type)

  • Japan (By Product Type)

  • Australia (By Product Type)

  • Singapore (By Product Type)

  • Malaysia (By Product Type)

  • Indonesia (By Product Type)

  • Vietnam (By Product Type)

  • Thailand (By Product Type)

  • Rest of Asia Pacific (By Product Type)






Frequently Asked Questions

Growing at a CAGR of 4.2%, the Asia Pacific market will exhibit steady growth during the forecast period (2023-2030).

The rising number of photographers offering professional photography services is the primary factor driving the Asia Pacific market growth.

Photobook Worldwide, Profile Products Australia, and Moleskine SpA are the major players in the Asia Pacific market.

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