Commercial Printers
Industry Profile Report
Dive Deep into the industry with a 25+ page industry report (pdf format) including the following chapters
Industry Overview Current Conditions, Industry Structure, How Firms Operate, Industry Trends, Credit Underwriting & Risks, and Industry Forecast.
Call Preparation Call Prep Questions, Industry Terms, and Weblinks.
Financial Insights Working Capital, Capital Financing, Business Valuation, and Financial Benchmarks.
Industry Profile Excerpts
Industry Overview
The 21,000 commercial printers in the US produce brochures, ads, books, packaging, business cards, and other output for clients. They are in the midst of a transition to digital technologies and electronic media.
Rapid Technological Change
The transition to digital technology has accelerated the rate of equipment change in the printing industry.
Weak Printing Demand
The commercial printing industry has seen falling demand for printed advertising materials caused by the shift to electronic media.
Industry size & Structure
The average commercial printer has fewer than 15 employees and generates $3.7 million in annual revenue.
- The industry consists of 21,000 firms with 276,000 employees, and revenue of $78 billion.
- Digital communications are replacing print for advertising, direct mail, magazines, books, and other business publications.
- Digital printing has reduced the barriers to entry for commercial printing. The new competition consists of quick printing companies and companies doing their own printing in-house.
- Industry-wide employment fell 22% from 2014 to 2023.
- Most firms are privately-held and 85% of firms have less than 20 employees.
- Large firms include RR Donnelley, Quad/Graphics, Transcontinental Printing, and Cenveo.
Industry Forecast
Commercial Printers Industry Growth
Recent Developments
Feb 12, 2025 - Some Small Businesses Worried About Shifting US Trade Policy
- Nearly one-third (30%) of small businesses are worried that tariffs could result in revenue losses, according to a survey released in February by Alignable, a social media outlet for small business owners. About 18% of business owners believe tariffs could boost their revenue, and 40% think they will have no effect; 12% of respondents were unsure what effects tariffs might have on their businesses. About 43% of print and copy services firms surveyed said they were concerned that tariffs could negatively affect their revenues.
- The Trump administration’s tariff-based trade strategy could disrupt the US paper industry and increase its costs, according to the American Forest and Paper Association (AFPA). On January 21, 2025, President Trump declared that a 25% tariff would be imposed on imports from Canada and Mexico beginning on February 1, 2025. On February 3, Trump agreed to pause the tariffs for 30 days after Canada and Mexico agreed to increase their border security and drug interdiction efforts. In 2024, pulp and paper product trade between the US and Canada totaled $14 billion, and pulp and paper trade with Mexico was over $5 billion, according to the AFPA. The paper-making process includes several steps - making pulp from wood chips, using pulp to manufacture rolls of paper or paperboard, and using those to make converted products such as stationery. A single product can cross borders several times during this process and face levies each time it does. Tariffs could prompt paper price increases throughout the supply chain. If printers’ paper costs rise and can’t be passed on to customers, margins could suffer.
- The global market for packaging printing was valued at $512 billion in 2024 and is projected to post average annual growth of 6.3% through 2029, reaching a value of $695 billion, according to market research firm Smithers. Key demand drivers include population growth and increased urbanization. Populations migrating to cities tend to boost packaged goods consumption, especially for food and beverage products. As the ranks of the global middle class grow, higher discretionary income, particularly in Asia, is expected to boost demand for printed packaging.
- According to Printing Impressions, private equity funds have invested in 315 companies in the printing, packaging, and related industries in the last five years. A handful of those deals involved print-on-demand businesses, a segment of the industry that is growing rapidly. In November, print-on-demand firms Printful and Printify announced that they plan to merge. Industry observers suggest the deal highlights the growing trend of consumer and brand interest in online-based, customized digital print-on-demand services. Such services can print one personalized item – such as a shirt or travel mug – for a single consumer or thousands for a brand. Private equity is attracted to firms that use digital solutions to intake orders, optimize production, and drive customer value. Print industry observers suggest that traditional printing companies that ignore on-demand trends risk obsolescence.
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