Photobooks on track for 26% growth in China, India and Australia
The photobook market continues to gain momentum in India, China and Australia, with volumes forecast to grow 26% in 2011 across all three countries, according to a new market report from Futuresource Consulting.
- (1888PressRelease) July 30, 2011 - "The overall photo markets of India, China and Australia represented a combined market value of 565 million Euros last year," says Joanna Wright, Senior Market Analyst, Futuresource Consulting, "and while these countries face similar challenges to other global markets, they may be able to harness their robust economic growth, growing disposable incomes, strong camera uptake and improvements in broadband and postal infrastructures. That's without taking into account the 2.6 billion population opportunity."
The new Futuresource report, 'Consumer Photo Markets: Australia, China and India', explores the development of photo prints and photobooks in each of the three countries separately, projecting volume and value demand by channel, including retail over-the-counter, instant kiosk, online pickup in store, online mail order and home printing.
Key findings of the report show some similarities between all three countries, though there are many marked differences too. In terms of prints from film, this represented 38% of print sales in India last year, compared with just 6% in China and Australia. Retail over-the-counter comfortably dominates distribution in all three countries but is losing share to online and home printing.
In terms of photobook production the market remains fragmented, key brands with market presence in their respective countries and channels include BigW, Harvey Norman, Photo Create, NetEase, Kunlun, and Yofus. Major global brands such as Kodak, Fuji, and HP (including Snapfish) are present in all three countries.
Although market potential exists across the entire photo market, Wright urges caution; "Despite the drivers, retail and online infrastructures in India and China remain highly fragmented and a significant obstacle to achieving market and channel growth."
Notes
Futuresource Consulting is a specialist research and knowledge-based consulting company, providing its clients with expertise in consumer electronics, digital imaging, entertainment media, broadcast, optical manufacturing, storage media and IT.
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