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Gift Wrapping Products Products Market Size, Share, & Trends Analysis Report (2023 – 2030)
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Report Overview
The global gift wrapping products market was valued at USD 14.2 billion in 2022 and is projected to expand at a CAGR of 4.2% from 2023 to 2030. Gift wrapping products are used to wrap gifts, presents, and mementos in a decorative manner. The products are available in a wide range of colors, designs, and materials, such as paper, fabric, or plastic. With the increasing number of festivals and special occasions, the demand for gift wrapping products is increasing worldwide.
The growing trend of online shopping and the increasing availability of gift wrapping products online is driving the market. Moreover, the availability of a wide range of gift wrapping products in various sizes, colors, and designs is further amplifying the market growth. Furthermore, the growing demand for sustainable packaging is encouraging manufacturers to introduce eco-friendly packaging options, such as biodegradable, recycled, and compostable gift wrapping products. For instance, in March 2021, Pregis Corporation, a protective packaging solutions provider, launched Biolefin, a new biodegradable and compostable film product.
In addition, the increasing demand for personalized packaging is driving the growth of the market. Manufacturers are introducing customized gift wrapping products to meet the individual requirements of customers. For instance, in May 2021, Paper Source, a retailer of specialty paper and gift wrap, launched a new collection of customizable gift wrap. The company allows customers to personalize their gift wrap with a message and photo. Furthermore, the introduction of technologically advanced products, such as rapid-response wrapping machines, is expected to drive the market.
The rising trend of e-gifting is also driving the market, as people are increasingly opting for digital gift cards or vouchers instead of physical gifts. The growing trend of corporate gifting is also providing a huge opportunity for market players. Companies are increasingly using gift wrapping products to increase their brand visibility. Furthermore, the rising trend of celebrating special occasions such as birthdays, anniversaries, and graduations is also driving the demand for gift wrapping products.
Product Insights
The paper gift wrapping segment accounted for the largest market share in 2022. The increasing demand for eco-friendly packaging is one of the major factors driving the growth of the paper gift wrapping market. According to an article published by the University of Oxford, paper gift wrapping is becoming increasingly popular due to its environmental-friendly nature. It also offers a wide range of customization options for various occasions and events like birthdays, anniversaries, and festivals. The rising popularity of online shopping is further contributing to the growth of the paper gift wrapping market.
The plastic gift wrapping segment is expected to register the fastest CAGR of 8.2% during the forecast period. Plastic bags and wraps offer several advantages over other materials such as low cost and easy availability. Furthermore, plastic gift wrapping is lightweight and highly durable, which is further encouraging its utilization across a wide range of applications. Additionally, the rising consumer preference for plastic gift wrapping due to its aesthetic appeal, flexibility, and durability is anticipated to drive the growth of the market.
Distribution Channel Insights
The department stores segment accounted for the highest market share of 24.2% in 2022. Department stores offer a wide variety of gift wrapping products with different styles, colors, designs, and sizes. Moreover, the presence of these products in the department stores helps customers to compare various gift-wrapping items and choose the appropriate item for their gifts. Gift wrapping products such as gift boxes, gift wraps, gift bags, and ribbons are easily available in these stores, which is driving their market growth.
The online segment is expected to register the highest CAGR of 10.2% during the forecast period. The growing number of e-commerce websites and applications is facilitating the growth of the online segment. Moreover, the presence of gift wrapping products on online stores allows customers to compare the prices and choose the appropriate product as per their needs. Furthermore, the availability of a wide variety of gift wrapping products on online stores is anticipated to fuel the growth of the segment.
Type Insights
The paper and plastic segment accounted for the largest revenue share of 41.4% in the year 2022. Factors such as convenience, low cost and wide availability of paper and plastic gift wrapping products are driving the demand for these products. Furthermore, the increasing demand for premium gift packaging products owing to rising disposable incomes among consumers is further boosting the market. For instance, in November 2020, H&A Packaging launched a premium range of gift wrapping supplies and accessories.
The fabric segment is anticipated to expand at the highest CAGR of 6.3% over the forecast period. The growing demand for eco-friendly gift wrapping solutions is driving the demand for fabric gift wrapping products. Additionally, the introduction of innovative designs, textures and colors of fabric gift wrapping products is further aiding the growth of this segment. For instance, in October 2020, the Craft Cotton Co. introduced a range of fabric gift wrapping products with colorful patterns and textures.
Regional Insights
Europe is expected to be the largest market for gift wrapping products and is expected to cross USD XX billion by 2022. High demand for gift wrapping products in the region is attributed to the presence of many prominent players such as Hallmark and Regent Trading. The region also witnesses a large number of gift-giving occasions such as Christmas, birthdays and anniversaries, which is driving the demand for gift wrapping products in the region.
Asia Pacific is expected to be the second largest market for gift wrapping products and is expected to show a CAGR of XX% during the forecast period. The increasing middle-class population in countries such as China and India is driving the demand for gift wrapping products in the region. Moreover, the rising disposable income of consumers and increasing number of gift-giving occasions are expected to drive the growth of the market.
Financial Projections
In this part of the gift wrapping products business plan we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections and capital requirements for your gift wrapping products business. Usually, these projections are drafted for a 5-year period.
Revenue Assumptions
The main source of revenues for a gift wrapping products business comes from the sale of the products and associated services such as wrapping and packing. Other possible sources of profit are the sale of gift wrapping supplies, custom orders, and the sale of promotional items.
Projecting Expenses
In this section, all the regular expenses related to keeping the gift wrapping products business running will be described. The list of operating expenses includes rent, taxes, wages, marketing and advertising, maintenance and repairs, utilities, insurance policies, and others.
Key companies & market share insights
Some of the key companies operating in the gift wrapping products market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:
– In October 2022, Hallmark launched a range of 3D printed gift wrapping paper for special occasions.
– In October 2022, Gift Wrap Company launched a range of eco-friendly gift wrap paper made from recycled materials.
– In August 2022, American Greetings launched a range of gift wrapping paper with unique designs.
Some of the prominent players in the gift wrapping products market include:
– Hallmark Cards, Inc.
– Gift Wrap Company
– American Greetings Corporation
– Papyrus-Recycled Paper Greetings
– JAM Paper & Envelope
– C.R. Gibson
– Paper Mart
– GiftWrap UK Ltd.
– American Retail Supply
– Giftwrap UK Ltd.
Global Gift Wrapping Products Market Segmentation
This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global gift wrapping products market based on product, distribution channel, type, and region:
1. Product Outlook (Revenue, USD Million, 2017 – 2030)
– Wrapping Paper
– Gift Bags
– Gift Boxes
– Ribbons & Bows
– Others
2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)
– Department Stores
– Supermarkets & Hypermarkets
– Online
– Others
3. Type Outlook (Revenue, USD Million, 2017 – 2030)
– Mass
– Premium
4. Regional Outlook (Revenue, USD Million, 2017 – 2030)
– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa
Frequently Asked Questions
[Q]: What are the Key Drivers of the Gift Wrapping Products Market?
[A]: Key drivers of the gift wrapping products market are the growing demand for customized and designer gift wraps, improved purchasing power of consumers, and the surge in e-commerce activities. The growing trend of digitalization and personalization of gift wrapping products is also boosting the market growth.
[Q]: What are the Major Trends in the Gift Wrapping Products Market?
[A]: Major trends in the gift wrapping products market include the increasing demand for eco-friendly products, the rising popularity of subscription-based services, and the increasing development of online platforms. These trends are expected to continue in the future.
[Q]: Who are the Key Players in the Gift Wrapping Products Market?
[A]: Key players in the gift wrapping products market include Hallmark Cards, Inc., American Greetings Corporation, JAM Paper & Envelope, Inc., MyGiftWrap, and Gift Wrap Company.
[Q]: What are the Major Regions for Gift Wrapping Products?
[A]: Major regions for gift wrapping products include North America, Europe, Asia Pacific, South America, and the Middle East and Africa.
[Q]: What are the Opportunities for Gift Wrapping Products Market?
[A]: Opportunities for the gift wrapping products market include the increase in the number of festivals and celebrations, the growth in the demand for personalized gift wrapping products, and the advent of digital printing technology. Moreover, increasing demand for luxury and premium gift wrapping products is also expected to drive the market growth.
Research Methodology
Impact Analytix employs a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. The company utilizes a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. In Addition, a recurring theme prevalent across all our research reports is data triangulation which looks market from three different perspectives. Critical elements of the methodology employed for all our studies include:
Preliminary data mining
Raw market data is obtained and collated on a broad front. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. For a comprehensive understanding of the market, it is essential to understand the complete value chain and in order to facilitate this; we collect data from raw material suppliers, distributors as well as buyers.
Technical issues and trends are obtained from surveys, technical symposia, and trade journals. Technical data is also gathered from an intellectual property perspective, focusing on white space and freedom of movement. Industry dynamics with respect to drivers, restraints, and pricing trends are also gathered. As a result, the material developed contains a wide range of original data that is then further cross-validated and authenticated with published sources.
Statistical model
Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously. These factors are studied on a comparative basis, and their impact over the forecast period is quantified with the help of correlation, regression, and time series analysis. Market forecasting is performed via a combination of economic tools, technological analysis, industry experience, and domain expertise.
Econometric models are generally used for short-term forecasting, while technological market models are used for long-term forecasting. These are based on an amalgamation of the technology landscape, regulatory frameworks, economic outlook, and business principles. A bottom-up approach to market estimation is preferred, with key regional markets analyzed as separate entities and integration of data to obtain global estimates. This is critical for a deep understanding of the industry as well as ensuring minimal errors. Some of the parameters considered for forecasting include:
Market drivers and restraints, along with their current and expected impact
Raw material scenario and supply v/s price trends
Regulatory scenario and expected developments
Current capacity and expected capacity additions up to 2030
We assign weights to these parameters and quantify their market impact using weighted average analysis, to derive an expected market growth rate.
Primary validation
This is the final step in estimating and forecasting our reports. Exhaustive primary interviews are conducted, face to face as well as over the phone to validate our findings and assumptions used to obtain them. Interviewees are approached from leading companies across the value chain including suppliers, technology providers, domain experts, and buyers so as to ensure a holistic and unbiased picture of the market. These interviews are conducted across the globe, with language barriers overcome with the aid of local staff and interpreters. Primary interviews not only help in data validation but also provide critical insights into the market, current business scenario, and future expectations and enhance the quality of our reports. All our estimates and forecast are verified through exhaustive primary research with Key Industry Participants (KIPs) which typically include:
Market-leading companies
Raw material suppliers
Product distributors
Buyers
The key objectives of primary research are as follows:
To validate our data in terms of accuracy and acceptability
To gain an insight into the current market and future expectations
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