Photo books on the March in Europe

International Newsline

The European photo book market is on track for continued healthy growth with demand projected to reach nearly 14.5 million units in 2009, up from 10.7 million units in 2008.

"Although market volumes have been affected by recent economic conditions, the segment has put in a strong performance, with pricing holding up well," said Futuresource Consulting senior market analyst Joanna Wright.

"In value terms, the European photo book market is establishing itself as a significant contributor to industry revenues, with our projections showing a market value of nearly 400 million Euros by the end of this year."

Online continues to drive the bulk of European purchases, accounting for almost 90% percent of orders in 2008, according to Futuresource's recently-released Photobook Market Report.

Retail volumes are expected to grow with the introduction of more customer-friendly solutions such as the Kis Instant Photobook kiosk, Fuji's duplex dry mini-lab and Kodak's Apex.

Greater availability of services and products, particularly at retail, where promotional activities are expected to increase predominantly through in-store displays and price promotions will fuel more growth, according to the report.

There is a clear distinction between first-time users and repeat purchasers, the latter typically opting for larger formats and more pages.

Futuresource research indicates there are more than 60 photo book manufacturers in Western Europe alone, with the leading six manufacturers holding 50% market share.

Futuresource expects more than 23 million photo books will be shipped in 2012, with online purchases continuing to dominate. Larger format and higher value books will also take a bigger share of the market, along with increased page runs, personalised photo covers, glossy paper stock and embossing all ensuring continued price buoyancy.