Global Gift Wrapping Product Market Overview
The Gift Wrapping Product Market Size was estimated at 15.28 (USD Billion) in 2022. The Gift Wrapping Product Industry is expected to grow from 16.04(USD Billion) in 2023 to 24.9 (USD Billion) by 2032. The Gift Wrapping Product Market CAGR (growth rate) is expected to be around 5.0% during the forecast period (2024 - 2032).
Key Gift Wrapping Product Market Trends Highlighted
Key market drivers for gift wrapping products include rising disposable income, growing demand for personalized and eco-friendly gift wrapping solutions, and increasing online shopping trends. Opportunities to be explored include innovations in sustainable and biodegradable packaging, customization and personalization services, and collaborations with artists and designers to create unique and exclusive designs.Recent trends in the gift wrapping product market include the adoption of minimalist, natural, and Japanese-inspired aesthetics, the rise of personalized and customized gift wrapping services, and the growing popularity of digital gift wrapping options. Additionally, there is a growing focus on sustainability, with consumers increasingly demanding eco-friendly and biodegradable gift wrapping products. These trends are expected to shape the future of the gift wrapping product market and provide opportunities for growth and innovation.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Gift Wrapping Product Market Drivers
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Growing Demand for Personalized and Sustainable Gift Wrapping
According to the Gift Wrapping Product Market Industry, one of the main drivers of market growth is the increased popularity of such types of packaging as personalized and sustainable ones. It is noted that more and more consumers require their gift-wrapping solutions to be unique and eco-friendly. Consequently, the demand for such products as custom wrapping papers, ribbons, and other accessories is on the rise. In the future, this trend will lead to increased market potential since consumers tend to avoid pollution and envisage their eco-friendly lifestyles not only in the more conscious use of resources but in their attitudes, even, to gift wrapping.
Expansion of Online Retail and E-commerce
Moreover, the rampant growth of online retail and e-commerce has also influenced the expansion of the Gift Wrapping Product Market Industry. The fact that it is more convenient and accessible for people to use the internet for purchasing gift-wrapping supplies increases the demand for these products. Also, the gift-wrapping market has faced growth due to an increasing number of small businesses and entrepreneurs entering the market online via marketplaces and socials.
Rising Disposable Income and Gift-Giving Occasions
Moreover, the increasing disposable income and a growing number of occasions for gift-giving are other factors impacting the growth of this industry. This development is related to the overall increase in the demand for sustainable and aesthetically pleasing gift wraps. Additionally, the tendency to celebrate more occasions is increasing – not only standard holidays but also birthdays for extended friends family, anniversaries, weddings, and more are celebrated.
Gift Wrapping Product Market Segment Insights
Gift Wrapping Product Market Product Type Insights
There are several segments of the Gift Wrapping Product Market. They include gift wrapping paper, gift bags, gift bows and ribbons, gift tags and labels, and other gift wrapping products. The segment of gift wrapping paper had the largest share in 2023 in the market, with the revenue exceeding $3 million and the share of more than 40%. A leading position of this segment is reasonable because of the popularity and affordability, as well as the variety of available designs and patterns. The second fastest-growing segment during the period will be bags.Paper bags are becoming particularly popular due to the growing trend of adopting eco-friendly products. At the same time, bows and ribbons will experience stable growth because of aesthetic properties and involvement in various types of presents and wrapping. The segment of gifts themselves and labels and tags is valuable for various occasions and as part of the market. The last segment is the other products, such as tissues, tapes, ribbons, etc.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Gift Wrapping Product Market Price Range Insights
The Price Range segmentation of the Gift Wrapping Product Market into Economy, Mid-Range, and Premium provides valuable information. The Economy segment competes on the provision of basic and functional gift wrapping products. Because of its affordability, it serves value-conscious customers. It is expected to account for a relatively large share of the market since the demand for budget solutions is on the rise. The Mid-Range segment is attracting those customers who are seeking a balance between quality and affordability. It offers a broader variety of gift wrapping products made from different materials.It is expected to witness a relatively fast growth since the number of these customers is expected to increase. The Premium segment is designed for those customers who have a luxury orientation. It offers high-quality gift wrapping products created from premium or even exclusive materials. They are distinguished by refined design solutions. Because of the increasing demand for exclusive or even individualized approaches, the segment is expected to see stable growth.
Gift Wrapping Product Market Target Audience Insights
The Gift Wrapping Product Market is segmented by Target Audience into Individuals, Businesses, and Gift-Giving Professionals. Among these segments, the Individuals segment is anticipated to dominate the market over the forecast period. The individuals segment includes personal consumers who purchase gift wrapping products for various occasions such as birthdays, anniversaries, holidays, and other special events. The growth of the Individuals segment can be attributed to the increasing disposable income and the rising trend of gifting and self-gifting.The Business segment is also expected to witness significant growth due to the growing demand for gift wrapping services from corporate companies and retailers. Gift-giving professionals, such as event planners and florists, are expected to contribute to the market growth as they offer customized gift wrapping solutions to meet the specific needs of their clients.
Gift Wrapping Product Market Occasion Insights
The Gift Wrapping Product Market segmentation by Occasion can be broken down into Birthdays, Holidays, Weddings, and Other Special Occasions. Birthdays hold the largest market share, accounting for over 30% of the Gift Wrapping Product Market revenue in 2023. This is due to the increasing popularity of birthday celebrations worldwide. Holidays, such as Christmas and New Year, are also significant contributors to the market, with a combined share of over 25%. Weddings, while less frequent, generate a substantial amount of revenue due to the high spending associated with these events.Other Special Occasions, such as anniversaries, graduations, and baby showers, account for the remaining market share. The market for Gift Wrapping Products is expected to continue growing steadily in the coming years, driven by increasing consumer spending on special occasions.
Gift Wrapping Product Market Distribution Channel Insights
The distribution channel segment plays a crucial role in the success of the Gift Wrapping Product Market. Online retailers are projected to hold a significant market share due to the convenience, wide product selection, and competitive pricing they offer. In 2023, the online channel accounted for approximately 35% of the Gift Wrapping Product Market revenue. Brick-and-mortar stores continue to be a key distribution channel, particularly for impulse purchases and personalized gift-wrapping services. However, their market share is expected to decline slightly in the coming years due to the rise of e-commerce.Wholesale distributors act as intermediaries between manufacturers and retailers, enabling efficient product distribution and reaching a wider customer base. They are expected to witness steady growth in the Gift Wrapping Product Market, driven by the increasing demand from small and medium-sized retailers.
Gift Wrapping Product Market Regional Insights
The regional segmentation of the Gift Wrapping Product Market offers insights into the market's geographical distribution and growth prospects. North America is expected to dominate the market in 2023 with a revenue of 6.2 billion USD and a CAGR of 4.5% during the forecast period. Europe follows closely with a market size of 5.1 billion USD in 2023 and an anticipated CAGR of 4.8%. The Asia-Pacific region is projected to experience significant growth, with a market value of 3.8 billion USD in 2023 and a CAGR of 5.3%. South America and the Middle East and Africa (MEA) are also expected to contribute to the market's growth.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Gift Wrapping Product Market Key Players And Competitive Insights
Attempting to provide the Gift Wrapping Product Market industry with a competitive edge, the major players are continuously driving the development of innovative offerings and expanding their product portfolio. At the same time, the leading players in the Gift Wrapping Product Market industry are drawing attention to the enhancement of their market position through forming strategic partnerships and making acquisitions. The rising demand for personalized and sustainable gift-wrapping solutions drives the Gift Wrapping Product Market development. Meanwhile, both prominent and recent trends are relevant to the Gift Wrapping Product Market Competitive Landscape.Hallmark Cards, Inc. enjoys a reputation as a high-quality provider with lab-designed and innovative products and a well-established customer base and distribution system. Meanwhile, another critical player in the Gift Wrapping Product Market industry is The Paper Source, Inc. providing a wide range of gift-wrapping goods, including gift wrap, ribbon, and gift bags. This company is recognized on the market due to its affordable prices and unconventional design, with a strong retail and online presence. Additionally, American Greetings Corporation offers a broad spectrum of wrapping paper products in addition to bows and ribbons. This provider is well-known for its prices and attention to affordable offers.
Key Companies in the Gift Wrapping Product Market Include
- Lenox
- Paper Mart
- Papyrus
- Dempsey Carroll
- Le Papier Studio
- Poshmark
- Carousel Calendars
- Gibson Greetings
- Crane Conolly
- Paper Source
- Neal Street
- Hallmark
- Wrap Corp
- American Greetings
- Kate Spade Company
Gift Wrapping Product Market Industry Developments
The Gift Wrapping Product Market size was valued at USD 13.44 billion in 2023 and is projected to reach USD 20.31 billion by 2032, exhibiting a CAGR of 5.0% during the forecast period. The market growth is attributed to the rising demand for aesthetic and personalized packaging solutions, coupled with the increasing popularity of online shopping. The growing trend of gift-giving on special occasions and the expansion of the retail industry are further propelling market growth. Moreover, the increasing use of sustainable and eco-friendly packaging materials is creating opportunities for market players focused on environmental consciousness. Recent industry developments include the launch of innovative gift wrapping products such as reusable and biodegradable wrapping papers. Key players are also investing in e-commerce platforms to expand their reach and cater to the growing online demand for gift wrapping solutions.
Gift Wrapping Product Market Segmentation Insights
Gift Wrapping Product Market Product Type Outlook
- Gift Wrapping Paper
- Gift Bags
- Gift Bows and Ribbons
- Gift Tags and Labels
- Other Gift Wrapping Products
Gift Wrapping Product Market Price Range Outlook
- Economy
- Mid-Range
- Premium
Gift Wrapping Product Market Target Audience Outlook
- Individuals
- Businesses
- Gift- Giving Professionals
Gift Wrapping Product Market Occasion Outlook
- Birthdays
- Holidays
- Weddings
- Other Special Occasions
Gift Wrapping Product Market Distribution Channel Outlook
- Online Retailers
- Brick-and-Mortar Stores
- Wholesale Distributors
Gift Wrapping Product Market Regional Outlook
- North America
- Europe
- South America
- Asia-Pacific
- Middle East and Africa
| Report Attribute/Metric |
Details |
| Market Size 2022 |
15.28(USD Billion) |
| Market Size 2023 |
16.04(USD Billion) |
| Market Size 2032 |
24.9(USD Billion) |
| Compound Annual Growth Rate (CAGR) |
5.0% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2023 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
Lenox, Paper Mart, Papyrus, Dempsey Carroll, Le Papier Studio, Poshmark, Carousel Calendars, Gibson Greetings, Crane Conolly, Paper Source, Neal Street, Hallmark, Wrap Corp, American Greetings, Kate Spade Company |
| Segments Covered |
Product Type, Price Range, Target Audience, Occasion, Distribution Channel, Regional |
| Key Market Opportunities |
Ecommerce growth Sustainable packaging options Customization and personalization Luxury and premium gifting Techenabled gifting |
| Key Market Dynamics |
Increased consumer spending on gifting Rising disposable incomes and a growing emphasis on gift-giving occasions Growing demand for sustainable and eco-friendly products, Consumers are increasingly seeking environmentally conscious gift wrapping options. Rise of ecommerce: Online platforms are providing convenience and expanding the reach of gift-wrapping products Customization and personalization Consumers are demanding unique and personalized gift wrapping solutions. Innovation in materials and designs Manufacturers are introducing innovative materials and designs to meet evolving consumer preferences. |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Gift Wrapping Product Market had an overall valuation of 16.04 Billion USD in 2023.
The Gift Wrapping Product Market is expected to grow at a Compound Annual Growth Rate (CAGR) of 5.0% from 2024 to 2032.
The Asia-Pacific region is expected to dominate the Gift Wrapping Product Market throughout the forecast period.
The key application segments of the Gift Wrapping Product Market include personal gifting, corporate gifting, and retail packaging.
Major competitors in the Gift Wrapping Product Market include Hallmark Cards, Inc., The Paper Source, Inc., and American Greetings Corporation.
The growth of the Gift Wrapping Product Market is being driven by factors such as the increasing demand for personalized and unique gifts, the rise of e-commerce, and the growing popularity of occasions that celebrate the exchange of gifts.
The Gift Wrapping Product Market is facing challenges such as the rising cost of raw materials, the impact of e-commerce on traditional gift-wrapping stores, and the growing trend of sustainable packaging.
Key trends in the Gift Wrapping Product Market include the use of eco-friendly materials, the integration of technology into gift-wrapping, and the growing popularity of customized gift-wrapping services.
The future outlook for the Gift Wrapping Product Market is positive, with growth expected to continue in the coming years due to the increasing demand for personalized and unique gifts.
Major opportunities in the Gift Wrapping Product Market include the expansion into emerging markets, the development of innovative gift-wrapping products, and the adoption of e-commerce platforms.
