The Global Wrapping Paper Market is projected to grow at a CAGR of 4.1% in the forecast period of 2023-28, cites MarkNtel Advisors in the recent research report. The wrapping paper market is a large and growing industry. It includes a wide range of products used to wrap gifts, including traditional paper wraps, gift bags, ribbons, tissue paper, and more. The market is driven by consumer demand for aesthetically pleasing and convenient gift-wrapping solutions, as well as seasonal trends and gifting occasions such as birthdays, holidays, weddings, and other celebrations.
The market is expected to be driven by increasing consumer demand for eco-friendly and sustainable packaging solutions, as well as the growth of e-commerce and online gifting platforms. However, the market is also facing challenges such as cost pressures, logistical challenges, and changing consumer preferences, further states the research report, Analysis, 2023.”
Sustainability Concerns to Drive the Demand for Recycled Wrapping Paper
The rising demand for sustainable and environmentally-friendly wrapping paper made from recycled materials is expected to drive significant market growth during the forecast years. Consumers' growing awareness of environmental issues has led to an increased demand for eco-friendly options that reduce the need for virgin pulp, a primary cause of deforestation, and minimize waste in landfills.
Furthermore, consumers are increasingly concerned about the harmful effects of traditional materials, such as plastics, on both the environment and human health. Therefore, the use of recycled paper and biodegradable materials is expected to become more widespread, promoting sustainability in the packaging industry.
North America Dominates the Wrapping Paper Industry Through 2028
North America held the highest market share in the wrapping paper industry, largely due to the holiday season being the peak consumption period. Christmas, being the most significant gift-giving occasion, drives the highest demand for wrapping paper among end-users, followed by other gift-giving events like birthdays, anniversaries, weddings, and graduations. The demand is further increased by businesses that offer gift-wrapping services, such as retailers and e-commerce companies.
With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market players, including DS Smith plc, Japan Pulp and Paper Company, Mondi plc, Nippon Paper Group, Inc., Oji Holdings Corporation, Rengo Co., Ltd., SCA Packaging Ltd., Stora Enso Oyj, The Gascogne group, The International Paper Company, The Smurfit Kappa Group plc. are looking forward to strengthening their market position.
Key Questions Answered in the Research Report