The escalation of fast food consumption has raised the usage of
wrapping papers for festive presentations.
WILMINGTON, Del., July 9, 2024 /PRNewswire/ -- The global
wrapping paper market stood at US$
4.5 billion in 2023, and the global market is
projected to reach US$ 6.9 billion in
2032. The wrapping paper market is anticipated to expand at a
CAGR of 4.0% between 2024 and 2032. The global wrapping
paper market has seen substantial growth, driven by increasing
consumer demand for aesthetically pleasing and sustainable
packaging solutions.
Wrapping paper, an essential component of gift-giving and
festive celebrations, has evolved from simple paper sheets to a
diverse range of products with varying textures, colors, and
designs. The market's expansion is fueled by the rising disposable
incomes and changing consumer preferences towards personalized and
visually appealing packaging.
One of the significant trends in the wrapping paper market is
the shift towards eco-friendly and sustainable products. With
growing environmental awareness, consumers are increasingly opting
for wrapping papers made from recycled materials or those that are
biodegradable.
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Wrapping Paper Market Report Scope:
Report
Coverage
|
Details
|
Forecast
Period
|
2024-2032
|
Base
Year
|
2019–2023
|
Size in 2023
|
US$ 4.5 Bn
|
Forecast (Value) in
2032
|
US$ 6.9 Bn
|
Growth Rate
(CAGR)
|
4.0 %
|
No. of
Pages
|
231
Pages
|
Segments
covered
|
By Material, By
Thickness, By End-use
|
This shift has prompted manufacturers to innovate and develop
environmentally friendly wrapping paper options that cater to this
demand. Additionally, regulatory policies aimed at reducing plastic
waste are further propelling the adoption of sustainable wrapping
paper.
The market is also witnessing a surge in demand from the
e-commerce sector. As online shopping continues to grow, the need
for attractive and protective packaging has become crucial.
Wrapping paper plays a vital role in enhancing the unboxing
experience, which is an important aspect of customer satisfaction
in the e-commerce industry. This has led to an increase in
collaborations between wrapping paper manufacturers and e-commerce
companies to create customized and branded wrapping solutions.
Key Takeaways of Market Report
- Global wrapping paper market to generate absolute dollar
opportunity worth US$ 6.9 billion
until 2032.
- Global wrapping paper market is valued at US$ 4.5 billion in 2023.
- Asia Pacific is forecasted to
hold the largest share in 2023.
Wrapping Paper Market: Growth Drivers
- The global fast food market has experienced robust
growth in recent years, driven by consumer preferences for
on-the-go meals, ready-made, and convenience food products.
- This trend is largely attributed to busier lifestyles, a
growing working population, and increased per capita income and
expenditure on food. The demand for fast food is continuously
rising as consumers seek quick, accessible meal options that fit
their hectic schedules.
- Celebration and festive seasons, such as Christmas and New
Year, significantly boost the demand for wrapping paper in both
developed and developing regions. Wrapping paper manufacturers
capitalize on these peak seasons by offering customized products
tailored to various festive themes, attracting consumers to
purchase their items.
- A substantial portion of the revenue for these manufacturers
comes from gift-wrapping solutions during these periods,
highlighting the importance of seasonal demand in the wrapping
paper market. This focus on festive customization helps drive sales
and enhances consumer engagement with the brand.
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Wrapping Paper Market: Regional Landscape
- Asia Pacific held the
largest market share in the wrapping paper market in 2023 and is
expected to maintain its dominance due to increased awareness
regarding food safety and freshness.
- The region's rapid economic growth and rising adoption of
wrapping paper for gifts during festive seasons like Diwali and
Christmas further boost market statistics. These factors
collectively drive the demand for wrapping paper, ensuring its
sustained market leadership.
- In Europe, the wrapping
paper market is driven by cultural and social customs of
gift-giving during holidays, birthdays, weddings, and other
celebrations.
- The region's regulatory framework, along with retailers and
e-commerce platforms, fosters innovations in new patterns,
textures, and designs for wrapping paper. Additionally,
sustainability initiatives are likely to enhance market demand
during the forecast period, as consumers and businesses
increasingly seek eco-friendly wrapping solutions. These elements
together contribute to the strong market performance in
Europe.
Wrapping Paper Market: Key Players
- In 2023, Oji Paper Co., Ltd. launched a new line of
eco-friendly wrapping paper made from 100% recycled materials. This
innovative product caters to the growing consumer demand for
sustainable packaging solutions.
- In 2023, Nippon Paper Industries Co., Ltd. introduced a
cutting-edge wrapping paper with built-in antibacterial properties.
This development addresses the increasing concerns about hygiene
and safety, particularly in food packaging and gift wrapping.
Wrapping Paper Market: Segmentation
By Material
- Kraft Paper
- Specialty Paper
- Greaseproof Paper
- Wax Paper
- Foil Paper
By Thickness
- Below 50 GSM
- 50 - 75 GSM
- 76 - 100 GSM
- 101 - 125 GSM
- Above 125 GSM
By End-use
- Commercial
- Individual/Household
- Foodservice
By Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
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About Transparency Market Research
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