NEWARK, Del, July 03, 2023 (GLOBE NEWSWIRE) — As per Future Market Insights (FMI), the global digital textile printer market is estimated to reach US$ 2,212.9 million in 2023. Over the forecast period 2023 to 2033, global sales of digital textile printers are expected to rise at 9.8% CAGR. This is projected to take the total market valuation to US$ 5,304.3 million by 2033.
Growth in the market is driven by continuously changing fashion trends, a high need for advanced printing technologies, and increasing demand for customized & personalized home décor.
The market for custom textiles in the home décor and furnishing sector is experiencing rapid growth. Nowadays, people have a preference for fast fashion and exclusive products that can be customized and personalized according to their specific demands.
Customers are willing to pay premium prices and actively seek out platforms and brands that cater to their custom home décor needs. This trend is particularly evident due to the increasing purchasing power of Gen Z, who are more inclined towards online shopping.
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There is a strong demand for printed materials used in furniture. Consumers are increasingly looking for personalized and one-of-a-kind home furnishings, including curtains, upholstery fabrics, bedding, and cushions. This in turn is encouraging the adoption of digital textile printers.
Digital textile printers have emerged as ideal printing solutions, allowing for customization by enabling the printing of specific designs, patterns, colors, and even photographs on a wide range of home textile products. This capability to personalize is significantly fueling the demand for digital printing within the home interior market.
Consumers shift to online shopping is another key factor driving the global digital textile printing industry.
Today’s consumers have elevated expectations, seeking pleasant and personalized shopping experiences, and affordable and high-quality clothing aligned with seasonal trends. Online shopping platforms fulfill these demands through attractive offerings, such as seasonal sales and diverse apparel selections.
The rising demand for fast fashion amplifies the importance of digital textile printers in the fashion sector, and the ongoing shift in customer preferences and choices towards online shopping is poised to further accelerate market growth.
Key Takeaways from this Market:
- The global digital textile printer industry is expected to reach a valuation of US$ 5,304.3 million by 2033.
- Based on ink, the pigment segment is forecast to expand at a CAGR of 11.1% through 2033.
- By printing process, the direct-to-garment segment is expected to hold a market share of around 50.2% in 2023.
- By end use, the clothing & apparel segment is projected to reach a valuation of US$ 3,474.0 million by 2033.
- The United States digital textile market value is anticipated to reach US$ 568.0 million by 2033.
- Digital textile printer demand in India is predicted to rise at 8.8% CAGR during the assessment period.
“Growing concerns over sustainability in the printing sector have led to the increasing demand for digital textile printers. Digital textile printers offer design flexibility and faster production rates. As a result, they are being widely used globally. Key companies are looking to develop advanced printing equipment to expand their customer base,“ – says a lead analyst at FMI.
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Digital textile printing offers several advantages over traditional dyeing, starting with its ability to reduce waste and address the issue of water pollution caused by dyeing, which is known as the second leading global polluter of water.
Further, the agility & flexibility of digital production and textile printing allow manufacturers to efficiently handle both small boutique orders and large retail orders using the same equipment, making it an attractive option.
With a lower cost per print and the convenience of print-on-demand, fast production is possible, enabling profitability from orders of any quantity with just a single button push.
Digital textile printing provides designers with nearly limitless graphic and color capabilities, surpassing traditional printing technologies. This freedom allows designers to unleash their creativity and produce unique designs.
The benefits extend to the supply chain as well. Meeting production and shipping deadlines become easier with digital printing, thereby preventing overstocking. Designers can constantly produce new collections to keep up with ever-changing fashion trends, while customers can satisfy their desire for customized apparel, décor, and gift items.
Who is winning?
Seiko Epson Corporation, Kornit Digital Ltd., Durst Group Ag, Aeoon Technologies GmbH, J. Zimmer Maschinenbau GmbH, SPGPrints BV, Ricoh Company, Ltd, ATP COLOR S.R.L, Electronics For Imaging, Inc., DCC Group, MIMAKI ENGINEERING CO., LTD., Konica Minolta, Inc., Mutoh Holdings Co. Ltd., Dover Corporation, HP Inc., Brother International Corporation, and others are few of the prominent digital textile printer manufacturers profiled in the report. The Tier 1 players in the market hold 15% to 25% share in the digital textile printing industry.
Leading companies are focusing on developing new digital textile printing machines with enhanced features. Further, they are implementing various strategies including mergers, partnerships, acquisitions, etc. to gain profits. For instance,
- In Dec 2022, Metro NXT, a high-quality and high-speed digital textile printer was launched by ColorJet Group at India ITME 2022.
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Global Market by Categorization:
By Printing Process:
- Direct to Garment (DTG)
- Direct to Fabric (DTF)
By Machine Type:
- Single Pass Printer
- Grand Format Printer
By Sales Channel:
- Manufacturers (Direct Sales)
By End Use:
- Clothing & Apparels
- Golf Shirts
- Others (Jackets, Tie, etc.)
- Bed Linens
- Carpets & Curtains
- Others (Napkins, Towels, etc.)
- Technical Textiles
- Others (Flags & Banners, Décor, etc.)
- North America
- Latin America
- East Asia
- South Asia & Pacific
- Western Europe
- Eastern Europe
- Central Asia
- Russia & Belarus
- Balkan Countries
- Baltic Countries
- Middle East & Africa
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Digital Textile Printer Market Report Insights by FMI:
Future Market Insights (FMI), in its new report, offers an unbiased analysis of the digital textile printer market, analyzing historical demand from 2017 to 2022 and forecast statistics for 2023 to 2033.
The study reveals growth projections on the digital textile printer market based on the printing process (direct to garment, dye-sublimation, and direct to fabric), ink (sublimation, reactive, acid, disperse, and pigment), machine type (single pass printer, and grand format printer), substrate (cotton, silk, rayon, linen, polyester, polyamide, and wool), sales channel (manufacturer (direct sales), and distributors/suppliers), end use (clothing & apparels, household, technical textile, and others), and region.
About the Packaging Division at Future Market Insights (FMI):
The packaging division at Future Market Insights (FMI) provides an in-depth historical analysis and projections for the next ten years and covers the competitive landscape through a unique dashboard view. Ranging from packaging materials, and packaging machinery to packaging designs & formats, Future Market Insights has an exhaustive database for these industry verticals, serving clients with unique research offerings and strategic recommendations. With a repository of 1,000+ reports, the team has analyzed the packaging industry comprehensively in 50+ countries. The team evaluates every node of the value chain and provides end-to-end research and consulting services; reach out to explore how we can help.
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization, and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel, and End Use over the next 10 years.
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