FESPA INDUSTRY CENSUS RESULTS OUT

Fespa has published the headline findings of its 2023 Print Census, highlighting the impact of rising sustainability demands and evolving customer requirements on business models and investment plans.

According to the census, the market outlook remains positive, in line with the results from 2018, with 71 per cent of respondents stating that they are optimistic about the future of their business, despite the considerable economic challenges of the past five years.

Some 1,778 printers and signmakers from 120 countries participated in the survey, representing a 26.5 per cent increase from the last Print Census published in May 2018. The majority of respondents, 61 per cent, defined their business focus as graphics, while 26 per cent were signage outfits, textile printers accounted for 24 per cent, with and industrial print businesses making up the remaining 14 per cent.

The survey further highlighted that the industry is adapting to the changing landscape and finding new opportunities for growth. In accordance with this, respondents reported a seven per cent average revenue increase since the 2018 Census. In 2018, the mean annual revenue reported, in Euro terms, was €4.4m, compared with a mean annual revenue of €4.7m in 2023, showing a €330,000 increase.

The Census reaffirmed that the pressure on printers and signmakers to be more sustainable continues to rise, with 72 per cent of print buyers requesting environmentally friendly products and practices. Some 25 per cent of respondents shared that their customers cared most about sustainable products, and 12 per cent identified a focus on sustainable manufacturing, with 36 per cent of printers disclosing that their customers cared about both.

The perceived cost increases are often a barrier to sustainable production, but 70 per cent of the respondents shared that they can address sustainability demands without raising their prices, and a further 22 per cent advised that they already raised pricing without impact on sales.

The industry is being shaped by changing customer requirements, including quicker turnaround times, more personalisation and versioning options, and shorter print runs. Some 67 per cent of responses showed an increase in the demand for faster turnaround, 58 per cent noted a rise in requests for shorter runs and 56 per cent highlighted the upsurge in interest for more versioning and personalisation, while only 38 per cent noted an increase in the demand for more complex logistic requirements.

The survey highlighted that print service providers are interested in investing in technology that can streamline production and provide greater application flexibility. For the respondents who own screen printing and wide format equipment, UV-curable inkjet at 27 per cent, eco-solvent inkjet at 18 per cent, and CNC finishing at 17 per cent, are the highest priority for their purchasing plans.

When asked about the rationale behind planned technological investments, some 55 per cent of respondents want to enter new markets and expand their service and application offerings, 53 per cent are focused on enhancing print quality, and 52 per cent are looking to reduce the unit cost.

Fespa head of associations and technical lead, Graeme Richardson-Locke, said, “It’s a really positive result to see our community so optimistic not only about the future of our industry, but also about the growth potential of their businesses.

“The survey once again cemented that one of the key challenges printers and signmakers are currently facing are the ever-changing customer demands and the growing need for sustainable solutions. Thanks to the responses from our community, we can now develop and evolve our offering to tailor it, but above all, we hope that the census findings will help our community to benchmark themselves against similar businesses globally, and to make informed choices for their future.”

Conducted in partnership with InfoTrends, a division of Keypoint Intelligence, this year’s Census further explored the long-term trends that emerged from the analysis of the 2018 Print Census, including revenue and industry outlook, the rise of environmental pressures, changing customer demands, future investment and purchasing plans, and business models and strategies.

The full 2023 print census report is available free of charge to members of Fespa national associations.