Gift Wrapping paper is a type of paper used for wrapping and packaging products, especially gifts. It is a thin, lightweight, and flexible material that comes in various designs, patterns, colors, and sizes. These are widely used for special occasions such as birthdays, weddings, Christmas, and other festivals.
Market Insights & Analysis: Global Wrapping Paper Market (2023-28)
The Global Gift Wrapping Paper Market is projected to grow at a CAGR of around 4.1% during the forecast period, i.e., 2023-28. The market is driven by the increasing demand for gift-wrapping products across various sectors. The growing trend of online shopping and e-commerce and rising disposable income are the primary drivers of the market. Moreover, the demand for eco-friendly paper has been on the rise in recent years, primarily due to the growing concern for environmental issues among consumers. In addition, there is an increasing awareness of the impact of non-biodegradable materials on the environment, and people are now looking for sustainable alternatives.
|Study Period||Historical Data: 2018-21|
|Base Year: 2022|
|Forecast Period: 2023-28|
|Regions Covered||North America: US, Canada, Mexico|
|Europe: Germany, The UK, France, Spain, Italy, Rest of Europe|
|Asia-Pacific: China, India, Japan, South Korea, Australia, Rest of Asia-Pacific|
|South America: Brazil, Argentina, Rest of South America|
|Middle East & Africa: GCC, South Africa, Rest of MEA|
|Key Companies Profiled||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, Others|
|Unit Denominations||USD Million/Billion|
As a result, there has been a growing trend toward using wraps made from recycled paper and biodegradable materials. However, as consumers become more budget-conscious, they may choose to forego traditional wrapping paper in favor of more cost-effective options. In addition, the market is highly seasonal, with demand peaking during the holiday season. This can create challenges for manufacturers and retailers in terms of managing inventory, distribution, and staffing levels.
Key Driver: Intensifying Gift Giving Culture Across the World
The primary driver of the industry is the gift-giving culture, which is an essential part of many occasions, such as birthdays, weddings, anniversaries, Christmas, and other festive celebrations. Gift-giving is an expression of love, appreciation, gratitude, and celebration that has been a cultural practice for centuries, and wrapping paper is an essential component of this practice. Backed by these aspects, the market is projected to proliferate in the coming years.
Possible Restraint: Changing Consumer Preferences Paired with Digital Gifting Trends
As consumer tastes and preferences change, the demand for traditional designs may decline. For example, some consumers may prefer more straightforward or personalized packaging options, such as gift bags or reusable fabric wraps. Moreover, With the rise of e-commerce and digital platforms, more people are opting for digital gift cards and online gift certificates instead of physical gifts. This reduces the need for Gift wrapping paper altogether, as there is no physical gift to wrap.
Growth Opportunity: Diversifying Gift Wrapping Paper Offerings & Adapting to Market Trends
The industry has growth potential for players willing to innovate, diversify their offerings, and adapt to the changing market trends. For example, market players can expand their product offerings beyond traditional variants to include complementary products such as gift bags, boxes, and ribbons. This will allow companies to cater to a wider range of customers with different preferences. In addition, e-commerce has allowed market players to expand their reach by selling Gift wrapping paper online. Moreover, offering customization options for customers, such as personalized products or custom designs, can also attract more customers. Further, by collaborating with retailers and e-commerce platforms, market participants can increase their brand visibility and reach a wider audience.
Key Trend: Growing Trend of Online Shopping & E-commerce
The demand for Gift wrapping paper has been increasing due to the growing trend of online shopping and e-commerce. This is because more consumers are availing gift-wrapping services offered by e-commerce retailers, and gift-giving continues to be a popular way of expressing appreciation and love. With the convenience of online shopping and the availability of gift-wrapping services, consumers can easily purchase gifts and have them wrapped without leaving their homes, making the gift-giving process effortless and enjoyable. This trend is expected to continue as online shopping becomes even more prevalent, further driving the market.
Based on Material Type,
Recycled Gift Wrapping Paper is expected to attain a sizable market share during the forecast years. It owes principally to the growing awareness of environmental issues leading to increased consumer demand for eco-friendly products made from sustainable materials. Recycled paper is an environmentally-friendly option as it reduces the need for virgin pulp, a primary cause of deforestation. It also reduces the amount of waste in landfills, making it an excellent option for those looking to reduce their carbon footprint. Further, consumers are also becoming more aware of the harmful effects of traditional gift wrapping paper, often coated with plastic and other non-biodegradable materials. These materials are not only harmful to the environment but also to human health. As a result, the use of recycled paper and biodegradable materials is expected to become more widespread, leading to a more sustainable and environmentally-friendly packaging industry.
Geographically, the Global Gift Wrapping Paper Market expands across:
North America dominated the industry with the highest market share in the historical period. The highest consumption of Gift wrapping paper typically occurs during the holiday season, with Christmas being the most significant gift-giving occasion. Therefore, the end-users with the highest consumption are consumers who purchase gifts for Christmas, followed by other gift-giving holidays and events like birthdays, anniversaries, weddings, and graduations. Additionally, businesses that offer gift-wrapping services, such as retailers and e-commerce companies, have also led to the increased demand for such wraps.
Recent Developments in the Market
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Frequently Asked Questions
A. The Gift Wrapping Paper Market is projected to grow at a CAGR of around 4.1% during 2023-28.
A. Intensifying gift giving culture across the world is likely to drive the market further during the projected time frame.
A. The prominent players anticipated to stiffen the competition globally are 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.
A. Recycled Gift Wrapping Paper is anticipated to emerge as an area of remunerative opportunities for the leading players in the wrapping paper market during the forecast period.
A. Globally, North America would provide lucrative prospects for the market in the years ahead.
A. Growing trend of online shopping and e-commerce is the significant trend projected to shape the Gift wrapping paper market through 2028.
A. Diversifying Gift wrapping paper offerings and adapting to market trends is expected to present remunerative opportunities for the leading players in the market during the forecast period.
A. Changing consumer preferences paired with digital gifting trends are the possible restraints affecting the growth of the market.