Gift Wrapping Products Market Size, Share, Sector / Industry Report & Analysis, 2019-2025 (Includes Business Impact of COVID-19)

                                          
Abstract, Snapshot, Market Analysis & Market Definition: Global Gift Wrapping Products Market


The global gift wrapping products market size was valued at USD 15.1 billion in 2018. Product innovation in gift wrapping products is the major factor contributing to the growth of this industry. Furthermore, rise in purchasing power has increased the demand for elegant and customized gifting options. This is expected to propel the growth of the overall gift products industry, which will positively influence the global market.
Gifting is considered a way of expressing gratitude or appreciation. As a result, gifting customs have evolved over the years. Exchanging gifts is not limited to festival or holiday season like Thanksgiving and Christmas. People give gifts on various occasions like anniversaries, house-warming parties, graduation parties, and farewell parties. Since gift wrapping products are perceived to increase overall aesthetic value of the product, increase in gifting occasions is expected to fuel market growth.
 
Many countries have specific gifting traditions that demand gift wrapping. In China, it is expected that the gift should be wrapped well. Unwrapped gift is considered to be inappropriate or embarrassing in the Chinese tradition. Brazil is another country that lays emphasis on gift wrapping. Brazilians prefer their gifts wrapped in colorful wrappers - mainly yellow and green, which depict their country’s colors. Similar gifting traditions in various regions are expected to increase product demand in the next few years.
In addition to traditions, gift wrapping products have a psychological effect on the receiver. According to a study published in the Journal of Consumer Psychology, gift wrapping creates an attraction bias towards the gift itself. Via repeated experiments of giving wrapped and unwrapped gifts, it was proved that the subjects were more likely to be fond of the gift if it was wrapped. Such studies and surveys are pushing the manufacturers to improve their product line by incremental innovation techniques and launching new products in the market. This is expected to increase the market growth during the projected period.

Market Segmentation, Outlook & Viewpoint: Global Gift Wrapping Products Market


Raw Material Market Segmentation & Outlook (Revenue, USD Million, 2014 - 2025)

Paper & Paperboard

Plastic

Other


Product Type Market Segmentation & Outlook (Revenue, USD Million, 2014 - 2025)

Wrapping Paper

Ribbons

Film & Foils

Decorative Boxes

Pouches

Bags

Other


Key Players, Recent Developments & Regional Insights: Global Gift Wrapping Products Market


Wrapping paper occupied more than 50.0% share of the global revenue in 2018. A major factor propelling the growth of wrapping paper is its easy availability and variety of colors. Colorful wrapping papers with attractive designs are preferred by consumers for gift wrapping. In addition, custom printed wrapping papers are gaining traction in the market. Consumers tend to use customized wrapping papers for personalized gifts to add an individual touch to the gift.
Increase in food gifting is another factor contributing to the market share of this segment. Chocolate, baked goods, and sweets are some of the popular food items that can be gifted. Alcoholic beverages like wine and champagne too require paper packaging when gifted. This is expected to propel demand for wrapping paper in the next few years.
 
Additionally, many manufactures are producing reusable wrapping papers. Since wrapping paper is easily available at a reasonable price, consumers are spending more on this product. Moreover, due to significant growth of the packaging industry, paper packaging and wrapping paper are expected to dominate the market for the next few years.
Decorative boxes, followed by pouches and bags, are expected to witness the fastest growth from 2019 to 2025. Higher visibility of corrugated boxes, along with attractive designs, is expected to fuel the demand for gift boxes. Corrugated boxes have greater strength and durability. Since these boxes are lightweight, they are majorly used for shipping products safely across different regions.
Additionally, decorative boxes are increasingly used in luxury gifting items like cosmetics and glass items, which are sensitive to handle. Attractive designs in these boxes are a major factor influencing product demand. These designs also eliminate the need for secondary packaging of the gift with a wrapping paper, which eliminates the need for secondary packaging/wrapping. Hence, the overall market is expected to witness substantial growth owing to increased demand for such boxes.

Regional Insights
In terms of revenue, North America accounted for a share of 35.5% in 2018. Majority of the global sales were driven by U.S. owing to increase in gifting occasions in the region. Due to increased spending power, consumers prefer to buy expensive gifts wrapped in an elegant way to improve the attractiveness of the gift. This is expected to propel product demand in this region during the forecast period.
Asia Pacific is expected to witness substantial growth in this market owing to rise in disposable income as well as improved market penetration of global players via franchising. In 2011, India’s top greeting card-maker, Archies tied-up with Hallmark to open exclusive stores of greeting cards. Similar initiatives are expected to propel growth of the region, which will positively influence market growth.
Central and South America is a potential market for gift wrapping products. As the packaging industry is increasing penetration in the developing countries like Brazil, gift wrapping products are expected to enter the market in this region. Moreover, since the market is highly fragmented, the untapped region of Central and South America is expected to witness substantial growth during the forecast period owing to improved penetration of the global players.
Gift Wrapping Products Market Share Insights
The global market is highly fragmented with global players concentrated into major developed countries like U.S. and U.K. Franchising, followed by retailing, are the two major trends observed in the market. Hallmark Cards has launched a strategy ‘Grow with Hallmark’ that allows anyone to open their own greeting card and gift store. Similar initiatives taken by other players like Mondi Group and Card Factory are expected to drive the growth of the market.

Key Insights Covered: Global Gift Wrapping Products Market
1.  North America, Europe, Asia Pacific, Middle East & Africa, Latin America market size (sales, revenue and growth rate) of Gift Wrapping Products industry.
2. Global major manufacturers' operating situation (sales, revenue, growth rate and gross margin) of Gift Wrapping Products industry.
3. Global major countries (United States, Canada, Germany, France, UK, Italy, Russia, Spain, China, Japan, Korea, India, Australia, New Zealand, Southeast Asia, Middle East, Africa, Mexico, Brazil, C. America, Chile, Peru, Colombia) market size (sales, revenue and growth rate) of Gift Wrapping Products industry.
4. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Gift Wrapping Products industry.
5. Global market size (sales, revenue) forecast by regions and countries from 2019 to 2024 of Gift Wrapping Products industry.

Research Methodology: Global Gift Wrapping Products Market

Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among other