Gift Wrapping Products Market Size, Share & Trends Analysis Report By Raw Material (Paper & Board, Plastic, Others), By Application, By Region, And Segment Forecasts, 2024 - 2030

Gift Wrapping Products Market Size, Share & Trends Analysis Report By Raw Material (Paper & Board, Plastic, Others), By Application, By Region, And Segment Forecasts, 2024 - 2030

Gift Wrapping Products Market Growth & Trends

The global gift wrapping products market size is anticipated to reach USD 31.31 billion in 2030 and is projected to grow at a CAGR of 8.4% from 2024 to 2030. The market is expected to witness rapid growth due to increase in product offerings by manufacturers in the market, along with increased spending by consumers on presents.

The paper and board segment accounted for the largest market revenue share of 78.3% in 2023. Moreover, due to the overall ban imposed on plastic, biodegradable paper has witnessed significant product visibility. This is expected to propel market growth during the forecast period. Other materials such as textile and glass based wrapping products are also gaining traction due to increase in gifting food and beverage items such as chocolates, wine, and champagnes.

Wrapping paper accounted for the largest market revenue share in 2023. Availability of a variety of colored, printed, and textured paper is expected to drive its demand in the next few years. Decorative boxes are expected to witness the fastest growth due to increased product offerings in this segment. Moreover, corrugated gift boxes are gaining significant traction as they are more durable, secure, and lightweight. This is expected to augment product visibility and fuel market growth.

North America gift wrapping products market accounted for the largest market revenue share of 38.5% in 2023. Due to the increased consumer spending and rise in gifting occasions in U.S., demand for gift wrapping is expected to surge over the forecast period. Gifting is not limited to festival and holiday season alone. Consumers have started exchanging presents on numerous occasions such as wedding anniversaries, graduation parties, and house-warming parties. This is expected to increase consumer spending on gifting items, which will, in turn, fuel market growth in the coming years.

Asia Pacific is expected to witness substantial growth during the forecast period owing to increased demand from major developing countries like China and India. China is one of the few countries that has imposed overall ban on plastic consumption by banning plastic imports into the country. This initiative has influenced countries like Japan and Thailand to take similar initiatives. In addition, increased variety of gift wrapping products such as gift bags, pouches, and decorative boxes is expected to increase market growth during the forecast period.

In 2017, Hallmark Inc. introduced the concept of card pockets on its gift bags. This allowed its customers to add a small greeting card, along with the gift to make the gifting experience more pleasant. Similar innovations are expected to positively influence market growth during the forecast period.

Gift Wrapping Products Market Report Highlights

• The gift wrapping products market experiences peak demand during seasonal celebrations such as Christmas, Valentine’s Day, birthdays, and other major holidays
• The paper and board segment accounted for the largest market revenue share of 78.3% in 2023. Consumers increasingly seek gift wrapping options made from recycled paper, biodegradable materials, or sourced from sustainably managed forests
• Wrapping paper accounted for the largest market revenue share in 2023. Consumers emphasize the visual appeal of gift presentations, driven by the desire to make gifts look unique and memorable

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