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Sales in the U.S. Gift Paper Market are forecast to gain traction at a CAGR of 1.5% during the forecast period. Manufacturers are focusing on eco-friendly gift packaging, since kraft paper is environmentally friendly and is made from recycled waste pulp and can be recycled and reused.
NEWARK, Del. , Aug. 16, 2022 /PRNewswire/ -- The global gift paper market is projected to reach a value of US$ 6.3 Bn by the end of 2032, with sales growing at an average CAGR of 33.9% for the forecast period of 2022 to 2032. Gift paper market is predicted to reach an estimated US$ 4.3 Bn by the end of 2022. The primary market driver for the gift paper market is the needs and preferences of consumers.
Gift papers are usually made from kraft paper material. This kraft paper material has high tear resistance, good strength, and is sustainable. Kraft papers are made from a process that requires the conversion of the chemical of wood into wood pulp. Since kraft paper doesn't add much weight to the product, using it makes gift wrapping easier and keeps the shipping costs to a minimum. Thereby fueling the sales of the product in the global market.
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Multiple industrial and commercial sectors also use kraft paper because of its strength and high tear resistance. Kraft paper mostly finds application in packaging, wrapping individual products, bundling, and eco-friendly business cards and gift wrapping. Since kraft paper is environmentally friendly and is made from recycled waste pulp that can be recycled and reused, it is gaining traction among both manufacturers and customers due to the rising emphasis on the usage of eco-friendly products.
Changing consumer preferences and an overall inclination for customization are likely to supplement market expansion over the forecast period. The surging demand for gift papers can be attributed to the customization of gift wrappers as per the need and preferences of the consumers. Moreover, due to rising concerns for the environment and growing demands for sustainability, customers are more inclined towards eco-conscious and environment-friendly products.
This further propels the gift paper market. Again, the prevailing trend of customized print on gift paper and more pleasing designs will likely produce opportunities for growth in the market. Most businesses in the market have expanded their offerings and prompted customers to customize and personalize their own prints. The rapid growth and development of e-commerce companies are also anticipated to fuel sales in the market over the assessment period.
"Rising adoption of sustainable and customized gift-wrapping paper is expected to augment the sales of gift papers over the forecast period," says an FMI analyst.
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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 among others are some of the major players in the gift paper market that are profiled in the full version of the report.
In a competitive market, gift papers market players are using different strategies like collaborations, mergers, and acquisitions. These businesses are concentrating on product development and innovation to extend their product portfolios to cater to all the needs and demands of consumers. They also employ advertising tactics on social media to enhance sales.
More Insights into the Gift Papers Market Report
In its latest report, FMI offers an unbiased analysis of the global gift paper market, providing historical data from 2015 to 2021 and forecast statistics for the period 2022 to 2032. To understand the global market potential, growth, and range, the market is segmented based on material type (kraft paper, recycled paper, bleached paper, unbleached paper), packaging (primary, secondary), sales channels (hypermarket/ supermarkets, online sales, departmental/ convenience/ discount stores, others (independent/ specialty stores)), and region.
According to the latest FMI reports, based on regional growth, the gift paper market in the U.S. is anticipated to present considerable growth due to the increasing demand for reusable gift wrapping paper. Sales in the regional market is expected to grow at a stagnant CAGR of 1.5% over the forecast period. Easy access to community-based paper recycling programs is likely to further propel the regional market.
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Gift Paper Market by Category
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Rice Paper Stand Up Pouch Market: The rice paper stand-up pouch market is estimated at US$ 56.5 Billion in 2022 and secure a value of US$ 101.2 Billion 2032
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Gift Packaging Market: Asia Pacific (APAC) is anticipated to witness a higher growth for the gift packaging market, owing to rising gifting culture during special occasions and in several organizations
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