European ink cartridge market share growth

According to the latest research from CONTEXT, as the market share of refillable ink cartridges grows, so does the demand for ink bottles.

Refillable ink-cartridge printers account for nearly a third of total inkjet hardware revenue as buyers increasingly seek more economical ways to print, according to IT market intelligence firm CONTEXT.

The latest figures from CONTEXT show that the revenue share of refillable ink-cartridge printers has increased from around 26% of the overall inkjet market in 2021 to 32% this year.

This is the backdrop for the strong performance of most markets in the region in 2020 and 2021. As of week 15, the Inkpot Income Index in Europe was about 30% higher than the Income Trend Index baseline. Buyers are switching from laser and inkjet machines to ink tanks due to the efficiency of ink usage.

Elsewhere, toner revenue performance in the UK, France and Italy remained above the baseline as of week 15 and was on the index line across Europe. This comes after a sharp drop during this period in 2020 as lockdowns closed offices across the region. According to CONTEXT, there are two main factors behind this year's recovery. On the one hand, offices are reopening, driving up demand for toner. The market is also benefiting from the fact that a shortage of inkjet printers during the pandemic has led some consumers to buy entry-level laser printers.

As of week 15, cartridge revenue across Europe was below the index baseline. Despite a surge in inkjet printer sales due to shutdowns, the start of 2020 was up and strong.

However, any increase in revenue this year must be considered given the strong price increases since the second quarter of 2021. In fact, this segment is characterized by falling demand and persistent shortages, especially due to chip supply issues.