The global gift paper market size is anticipated to surpass a valuation of US$ 4,489.6 million in 2023. It is predicted to hit a valuation of US$ 6,645.6 million by 2033. The market is foreseen to thrive at a CAGR of 4.0% from 2023 to 2033.
People gravitate toward spending more on presents and festivities as economies grow and disposable incomes increase. The demand for gift paper to wrap these gifts may increase as a result of this rise in consumer expenditure.
The demand for gift paper significantly increases around seasonal holidays and occasions including Christmas, Valentine’s Day, Mother’s Day, and birthdays. Seasonal-specific designs and themes are frequently introduced by retailers, which boosts sales and expands the market.
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With the use of gift paper, a gift may be personalized and given a unique finishing touch. To improve the appearance of their presents, several individuals take pleasure in choosing innovative and aesthetically pleasing gift-wrapping solutions.
Social media and online platforms now play a significant role in determining consumer trends and behavior. On social media sites like Pinterest and Instagram, people might be motivated to spend extra on distinctive gift paper patterns and accessories by sharing gift-wrapping ideas, DIY instructions, and visually beautiful gift displays.
Corporate gifting is a common strategy used by corporations to show appreciation, fortify bonds, or advance their brands. Further, the demand for gift paper is influenced by products that require gift wrapping, such as promotional items, client presents, or staff awards.
Key Takeaways from Gift Paper Market Report:
- The global gift paper industry size developed at a CAGR of 3.1% from 2018 to 2022.
- In 2018, the global market size stood at US$ 3,821.7 million.
- The global market size stood at US$ 4,316.7 million in 2022.
- The gift paper industry is estimated to hold 2-3% of the global paper and paperboard market in 2023.
- In 2022, the kraft paper segment captured a 68.6% share of the global market.
- In 2022, the primary segment accounted for 63.6% share of the global market.
- In 2022, the United States market for gift paper acquired a 13.6% global market share.
- In 2022, India captured a 6.1% global market share.
Gift paper is usually decorative paper or kraft paper used especially for wrapping gifts and styling gifts in a unique way. These packaging products are available in a wide variety of shapes and colors. Earlier, cellophane and waxed paper were used as the key material in wrapping but due to durability and sustainability, polyethylene and polypropylene were used which were later replaced by kraft paper and bleached paper. Moreover, an increase in corporate events and seminars is propelling the occasions of celebrations which are ultimately increasing the consumption of gift packaging products.
Major share of gift paper comes from kraft paper, which is elastic, has high tear resistance, and is made from wood pulp in special mills. This wood pulp is made from trees like softwoods by the kraft process and for wrapping paper, the bleached pulp is used but for normal paper unbleached pulp can be used. Eco-friendly packaging is a new trend that is rapidly growing and most people reported that companies give extra importance to sustainable packaging as it improves brand image and reduces transport costs.
“Increasing preference for recyclable gift wrapping paper, along with high demand for personalized gift packaging among consumers is expected to augment the growth in the market,” says an FMI analyst.
Key Takeaways:
· By material, kraft paper segment is expected to hold 65% of the market share in 2032.
· Based on packaging, demand in the primary segment is estimated to grow at a CAGR of 3.7% during the forecast period.
· In terms of sales channel, the departmental/convenience segment will account for 49.3% in 2022.
· The U.S. gift paper market is expected to reach US$ 684.7 Mn by 2032.
· Total sales in the India gift paper market will reach US$ 442.9 Mn by 2032.
Gift Paper Market Landscape
Few of the players operating in the gift paper market are DS Smith Plc, Oji Paper Co., Ltd., Smurfit Kappa Group Plc, Stora Enso Oyj, Nippon Paper Group, Inc., HighPoint Packaging, Twin Rivers Paper Company, Kraft Wrap Inc., Madico, Inc. and The Paper Company India.
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Gift Paper Market by Category
Material:
- Kraft Paper
- Recycled Paper
- Bleached Paper
- Unbleached Paper
Packaging:
- Primary
- Secondary
Sales Channel:
- Departmental/Convenience/Discount Stores
- Hyper/Supermarket
- Online Sales
- Others (Independent/Specialty Stores)
Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Middle East & Africa
- Oceania
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