Pune, India, Nov. 22, 2023 (GLOBE NEWSWIRE) — The global wedding photography market size was USD 20.44 billion in 2022 and is set to expand from USD 21.83 billion in 2023 to USD 36.80 billion by 2030, exhibiting a CAGR of 7.74% over the study period.
Recent years have recorded a growing demand for destination weddings. In addition, there has been a rising demand for unique favors and custom decorations, which is propelling the global market growth.
Fortune Business Insights™ provides this information in its research report, titled “Wedding Photography Market, 2023-2030”.
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List of Key Players Profiled in the Wedding Photography Market:
- Michael Anthony Studios Inc. (U.S.)
- Lin & Jirsa Photography (U.S.)
- Matt Mason Photography (U.S.)
- Kevin Mullins Photography (U.K.)
- Kellie Jane Creative (U.S.)
- Emma- Jane Photography (U.S.)
- Gideon Photography (U.S.)
- De La Teja Studio (U.S.)
- Ramit Batra (India)
- KnotsbyAMP (India)
Report Scope & Segmentation:
| Report Attributes | Details |
| Forecast Period | 2023-2030 |
| Forecast CAGR | 7.74% |
| 2030 Value Projection | USD 36.80 Billion |
| Market Size in 2022 | USD 20.44 Billion |
| Historical Data | 2019-2021 |
| No. of Pages | 170 |
| Report Coverage | Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends |
| Segments Covered |
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| Regions Covered |
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| Wedding Photography Market Growth Drivers | Adoption of Photography as Hobby among Different Age Groups to Support the Market Growth |
| Growing Number of People Employed in Photography to Boost Product Demand |
Report Coverage:
The report offers an insight into the key trends in the market. It further gives an account of the major factors propelling the business landscape over the coming years. The report also covers the pivotal steps deployed by leading companies in gaining strong industry footings.
Drivers and Restraints:
Market Value to Rise with Surging Employment in Photography
The global wedding photography market growth is being propelled by an increase in the number of people employed in the sector. Several photographers undertake freelancing projects. This is due to greater employment flexibility offered by freelancing.
However, the rising usage of smart devices such as tablets and smartphones would affect the standalone digital camera demand, hindering industry expansion to some extent.
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COVID-19 Impact:
Wedding Postponements Impacted Industry Expansion during the Pandemic Period
The COVID-19 pandemic led to the postponement of weddings considering the enforcement of travel and lockdown measures. Several couples opted for smaller weddings considering the restrictions on large gatherings. This led to a sharp drop in product demand during the pandemic period.
Segmentation:
Traditional Wedding Photography Segment Registered Key Share Due to Soaring Demand for Traditional Bridal Party Photographs
By type, the market is segmented into artistic wedding photography, traditional wedding photography, natural wedding photography, and others. The traditional wedding photography segment recorded a major market share in 2022. This was due to the growing consumer preference for traditional bridal party photographs.
Full Coverage Segment to Record the Highest CAGR Driven by Rising Demand for Luxury Packages
On the basis of coverage, the market is segregated into partial coverage and full coverage. The full coverage segment is set to depict the highest CAGR over the study period. The growth can be attributed to the soaring demand for luxury and deluxe wedding packages.
Digital Format Segment to Surging Demand For Digital Wedding Images
On the basis of format, the market is fragmented into digital and printed. The digital segment to witness fastest CAGR during the forecast period. This is due to the surging demand for digital wedding images and the soaring smartphone penetration.
Based on geography, the market has been studied across North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
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Regional Insights:
Asia Pacific to Lead the Market due to Favorable Government Initiatives
The Asia Pacific market is set to record dominating share in the market. This is due to the enforcement of favorable government policies in the region. For instance, the government of India is keen to promote the Indian wedding tourism sector to couples abroad.
The North America wedding photography market share accounted for the second-leading position. This is on account of the soaring disposable income and growing wedding expenditure in the region.
Competitive Landscape:
Leading Companies Undertake Numerous Growth Strategies to Meet Rising Consumer Demand
Companies in the wedding photography space are keen to deploy a range of expansion strategies for keeping up with the trending themes on social media platforms. These moves are being adopted to meet the soaring consumer demand. Some industry players are launching online portals for reducing the gap between accessibility and preference.
Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Emerging Trends
- Key Insights
- Overview of the Parent/Related Markets
- Industry SWOT Analysis
- Qualitative Analysis (in relation to COVID-19)
- Impact of COVID-19
- Supply Chain Challenges
- Potential Opportunities due to COVID-19
- Global Wedding Photography Market Analysis, Insights and Forecast, 2019-2030
- Key Findings / Summary
- Market Size Estimates and Forecast
- By Type (Value)
- Traditional Wedding Photography
- Artistic Wedding Photography
- Natural Wedding Photography
- Others
- By Coverage (Value)
- Full Coverage
- Partial Coverage
- By Format (Value)
- Digital
- Printed
- By Region (Value)
- North America
- Europe
- Asia Pacific
- South America
- Middle East & Africa
- By Type (Value)
TOC Continued…!
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Key Industry Development:
- January 2023: Fölscher Photography entered the market by offering a diverse wedding photography services in South Africa.
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