The global gift paper market is poised for remarkable growth in the decade from 2023 to 2033, as highlighted in a recent research report by Future Market Insights. In 2023, the market is projected to achieve a valuation of US$ 4,489.6 million, and this upward trajectory is expected to continue.
Gift paper is typically crafted from kraft paper material, renowned for its exceptional tear resistance, robust strength, and sustainable attributes. The production process involves the transformation of wood-derived chemicals into wood pulp, resulting in an eco-friendly and durable wrapping material. The lightweight nature of kraft paper not only contributes to cost-effective shipping but also simplifies the art of gift wrapping, making it a preferred choice for both practical and environmental reasons.
By 2033, the market is predicted to reach an impressive valuation of US$ 6,645.6 million, demonstrating substantial expansion opportunities. This growth is estimated to be driven by a steady Compound Annual Growth Rate (CAGR) of 4.0% during the period from 2023 to 2033.
In 2023, the gift paper industry is expected to account for a notable 2-3% share of the global paper and paperboard market, underlining its significance within the broader paper industry landscape.
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Key Takeaways:
- Growing demand for customized gift-wrapping paper to boost market possibilities.
- Eco-friendly nature of kraft paper to propel market growth.
- Inclination for reusable gift wrapping to push market sales in the U.S.
- Gift paper market in India is predicted to reach US$ 442.9 Mn over the assessment period.
- Based on material type, kraft paper is likely to continue its market domination, with sales growing at 3.4% CAGR.
- By packaging type, the primary packaging solution is leading the market with demand growing at 3.7% CAGR.
Demand Factors
Many companies have expanded their product offerings to include customization options, encouraging customers to personalize their prints. Furthermore, the proliferation of e-commerce platforms is anticipated to be a significant factor propelling sales in the market throughout the forecast period.
The market is experiencing a surge in demand driven by the customization of gift wrappers tailored to the specific needs and preferences of customers. As environmental concerns grow, consumers are increasingly opting for eco-conscious and environmentally friendly products, contributing to the market’s momentum. Additionally, the upward trend of personalized prints on gift paper, coupled with improved designs, is creating growth opportunities within the market.
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Key Market Players
- 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.
- The Paper Company India
Competitive Landscape:
Due to the existence of many local and regional competitors, the overall gift paper industry is competitive. Key participants use a variety of strategies including mergers and acquisitions, developments, joint efforts, and associations. Moreover, leading players are also utilizing advertisement strategies on social media channels to improve sales.
Recent Developments Observed by FMI:
- Mondi, a pioneer in environment-friendly paper and packaging, introduced new paper bags for Holz-Bauer’s hardwood pellets in May 2023, eliminating needless plastic.
- On World Earth Day in April 2023, ITC’s Aashirvaad Organic Atta introduced paper-based packaging.
- In May 2022, Smurfit Kappa Group acquired Atlas Packaging, a corrugated packaging manufacturer. This is expected to improve its services in Europe’s market.
- In May 2022, Stora Enso Oyj invested in ACDF Industries SAS which manufactures wooden components and structures in France. It is expected to benefit the company by easily obtaining timber and lowering its carbon footprint by rejecting plastic.
- In March 2022, DS Smith, well known for developing 100 percent recyclable packaging solutions, had its main focus to replace foam buffers with cardboard, so the packaging is easy to fold and very instinctive to use.
Market by Category:
Material:
- Kraft Paper
- Recycled Paper
- Bleached Paper
- Unbleached Paper
Packaging:
- Primary
- Secondary
Sales Channel:
- Departmental/Convenience/Discount Stores
- Hyper/Supermarket
- Online Sales
- Others (Independent/Specialty Stores)
Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Middle East & Africa
- Oceania
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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