Gift Paper Market Focusing on Current Trends, Leading with Top Key Players
Press Release from Future Market Insights
The global gift market is forecast to reach a valuation of US$ 4.3 Bn in 2022. With sales growing at a 3.9% CAGR over the assessment period, the market size will reach US$ 6.3 Bn by 2032.
Gift paper is usually decorative paper or kraft paper used especially for wrapping gifts and for styling the gifts in a unique way. These packaging products are available in a wide variety of shapes and colours. Earlier, cellophane and waxed paper were used as the key material in wrapping but due to durability and sustainability, polyethylene and polypropylene were used which were later replaced by kraft paper and bleached paper. Moreover, an increase in corporate events and seminars is propelling the occasions of celebrations which are ultimately increasing the consumption of gift packaging products.
Major share of gift paper comes from kraft paper, which is elastic, has high tear resistance and is made from wood pulp in special mills. This wood pulp is made from trees like softwoods by the kraft process and for wrapping paper, the bleached pulp is used but for normal paper unbleached pulp can be used. Eco-friendly packaging is a new trend which is rapidly growing and most people reported that companies give extra importance to sustainable packaging as it improves brand image and reduces transport costs.
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“Increasing preference for recyclable gift wrapping paper, along with high demand for personalised gift packaging among consumers is expected to augment the growth in the market,” says an FMI analyst.
Key Takeaways:
· By material, kraft paper segment is expected to hold 65% of the market share in 2032.
· Based on packaging, demand in the primary segment is estimated to grow at a CAGR of 3.7% during the forecast period.
· In terms of sales channel, the departmental/convenience segment will account for 49.3% in 2022.
· The U.S. gift paper market is expected to reach US$ 684.7 Mn by 2032.
· Total sales in the India gift paper market will reach US$ 442.9 Mn by 2032.
Gift Paper Market Landscape
Few of the players operating in the gift paper market are 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.
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Gift Paper Market Report
Future market insights, in its new report, offers an unbiased analysis of the global market for gift paper market by material (kraft paper, recycled paper, bleached paper, unbleached paper) by packaging (primary and secondary), by sales channel
(departmental/convenience/discount stores, hyper/supermarket, online sales, others (independent/specialty stores)), across seven regions
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