Catalogue Market
Asia-Pacific is expected to observe highest growth rate during the forecast period. Asia-Pacific is home to numerous technology giants of all sectors due to the presence of emerging economies such as China, India, and Australia, which is driving the adoption of the catalogue for marketing and advertising.
In addition, the retail & e-commerce sector is gaining immense popularity in Asia-Pacific due to penetration of internet and sharp rise in number of smartphone users in the region. Retail & e-commerce enterprises have adopted catalogue as a powerful and efficient mode of marketing and advertising strategy, which, in turn, is fueling the catalogue market growth.
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Moreover, a continuous increase in use of digital products and services in Asia-Pacific countries as compared to the rest of the regions is expected to propel the growth of the digital catalogue market.
According to the report, the global catalogue industry was pegged at $58.20 billion in 2020, and is expected to reach $335.62 billion by 2030, growing at a CAGR of 20.05% from 2021 to 2030.
A catalogue is a form of marketing material that provides essential product details to assist buyers in making purchase decisions. These details typically include features, descriptions, dimensions, prices, weight, availability, color options, and customer reviews. Catalogues are an effective tool for motivating buyers by showcasing what a company offers. They are widely used by various business groups, such as sales representatives, inside sales teams, buyers, store clerks, field marketers, and managers.
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Several factors drive the growth of the global catalogue market. These include the increased penetration of smartphones, widespread internet access, and a growing need to enhance customer experience and satisfaction. Additionally, the use of catalogue marketing strategies in the retail and e-commerce sectors boosts market growth.
The popularity of alternative marketing and advertising strategies also impacts the market, as does the rising demand for digital catalogue marketing and advertising strategies among small and medium enterprises (SMEs). Each of these factors is expected to have a distinct impact on the catalogue market’s growth during the forecast period.
In terms of type, the printed or paper segment led the catalogue market in 2020. Printed catalogues and brochures are valuable tools for sales and marketing teams, containing key information about products or services. They enhance product visibility and create a lasting impression on customers. However, the digital segment is projected to experience the highest growth rate in the coming years.
Digital catalogues expand brand awareness and reach a broader audience than traditional catalogues. The retail and e-commerce sectors, embracing digital transformation, are adopting digital catalogues to enhance exposure and customer satisfaction. Moreover, the rise in online shopping and the increasing number of global smartphone users further stimulate the growth of the catalogue market.
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In 2020, the large enterprises segment dominated the global catalogue market, holding over 60% of the total share, and is expected to maintain its leading position throughout the forecast period. This growth is largely driven by increased marketing investments from large enterprises, which continue to fuel the expansion of the catalogue market. On the other hand, the small and medium-sized enterprises (SMEs) segment is projected to achieve the highest compound annual growth rate (CAGR) of 21.34% by 2030. SMEs, which typically operate with smaller marketing budgets and limited resources, are increasingly turning to digital catalogue strategies to reduce business process complexities and optimize costs.
Regionally, North America held the largest market share in 2020, contributing over 40% of the global catalogue industry. This is primarily due to the growing demand for digital catalogues across sectors like media & entertainment, e-commerce, and BFSI. Meanwhile, the Asia-Pacific region is anticipated to experience the fastest growth, with a CAGR of 22.25% over the forecast period, driven by rising smartphone adoption and increased internet penetration.
Impact of COVID-19:
The COVID-19 pandemic positively impacted the global catalogue market, as the surge in smartphone sales and the shift to remote work led to a significant increase in digital catalogue adoption. Digital catalogues gained substantial traction during this period due to their advantages over print catalogues. Furthermore, sectors such as retail & e-commerce and media & entertainment accelerated their digital transformation in response to COVID-19, contributing to the widespread adoption of digital catalogues for marketing products and services.
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Some of the key catalog industry players profiled in the report include Akeneo, Bonial, DCatalog, Drawtify, Inc., Flipsnack, Flipp Corporation, FlippingBook, Publuu, ShopFully, and Tiendeo. This study includes market trends, Catalogue market analysis, and future estimations to determine the imminent investment pockets.
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