Global Gift Wrapping Paper Market: Overview
Gift wrapping papers are decorative papers or Kraft papers that are primarily used to improve the aesthetic value of gifts. The market for gift packaging has observed impressive opportunities, owing to an increase in consumer spending coupled with growing applications of eye-catching products at reasonable prices. Rising environmental concerns over the use of plastic packaging products have further boosted the market for wrapping paper across the globe. Increased spending on luxury gifting products such as perfumes and apparel has created a huge demand for gift wrapping paper, especially in the emerging economies of the Asia Pacific region.
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Global Gift Wrapping Paper Market: Dynamics
Increased penetration of e-commerce in the gifting world has emerged as a crucial factor to fuel the demand for gift wrapping paper. Multinational e-commerce establishments such as Amazon, Alibaba, and Snapdeal are largely expected to drive the demand for gift wrapping paper. According to an independent research, the major portion of demand for gift wrapping papers comes from Christmas and Halloween, largely celebrated in western economies. Most of the companies are primarily focusing on offering customized products as well as expanding their product portfolio while keeping the festive season in mind to lure consumers to buy their products.
Despite the positive outlook, there are certain factors, which might hamper the global gift wrapping paper market. The increasing concern over the huge amount of waste generated due to the use of single-use gift wrapping paper is the major restraining factor that will hamper the growth of the global gift wrapping paper market in the forecast period.
Global Gift Wrapping Paper Market: Segmentation
The global gift wrapping paper market can be segmented on the basis of printing technology, material type, and packaging type.
The global gift wrapping paper market can be segmented on the basis of printing technology into:
- Offset Printing
- Digital Printing
- Inkjet Printing
- Xerography / Electrophotography Printing
- Flexographic Printing
- Screen Printing
- Rotogravure Printing
The global gift wrapping paper market can be segmented on the basis of material type into:
- Kraft Gift Wrapping Paper
- Recycled Gift Wrapping Paper
- Bleached Gift Wrapping Paper
- Unbleached Gift Wrapping Paper
The global gift wrapping paper market can be segmented on the basis of packaging type into:
- Primary Packaging
- Secondary Packaging
- Tertiary Packaging
Global Gift Wrapping Paper Market: Regional Outlook
The global gift wrapping paper market is segmented into seven regions, namely, Latin America, North America, Eastern Europe, Western Europe, Middle East and Africa (MEA), Asia Pacific Excluding Japan (APEJ), and Japan.
North America and Europe are currently the largest markets for gift wrapping paper owing to their high per capita income as well as a better standard of living in comparison with any other regions across the globe. Moreover, most of the multinational pulp & paper manufacturing mills are well established in this region. However, in terms of growth, the Asia Pacific region is expected to be the most lucrative market for gift wrapping papers. Owing to the rising disposable incomes as well as an increase in consumer spending in emerging economies of China & India, the market for gift wrapping papers in this region is expected to witness a double-digit growth over the forecast period. However, due to an economic slowdown in countries like Brazil, Chile, Venezuela, etc. over the last decade, the market for gift wrapping paper in Latin America is projected to witness below-average growth.
Finally, summarizing the above regional scenario, the market for gift wrapping paper is projected to grow at a healthy CAGR over the forecast period.
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Global Gift Wrapping Paper Market: Key Players
Some of the key players currently operating in the global gift wrapping paper market are:
- Mondi Group Plc.
- International Paper Company
- Oji Paper Co., Ltd.
- DS Smith Plc
- Deufol AG
- Smurfit Kappa Group Plc.
- Graphic Packaging Holding Company
- Stora Enso Oyj
- Nippon Paper Group, Inc.
- KapStone Paper and Packaging Corporation
- SCA Packaging Ltd.
- Griff Paper and Film Co.
- Gascogne SA
- Japan Pulp & Paper Co Ltd
- Rengo Co., Ltd.
- Sequana SA
- Boxes Prestige Ltd.