Dublin, March 07, 2022 (GLOBE NEWSWIRE) -- The "Greeting Cards - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
The global market for Greeting Cards estimated at US$23 Billion in the year 2020, is projected to decline to revised size of US$20.9 Billion by 2026, declining at a CAGR of -1.7% over the analysis period.
Birthday Cards, one of the segments analyzed in the report, is projected to record a -0.7% CAGR and shrink to US$6.1 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Christmas/New Year segment is readjusted to a revised -2.5% CAGR for the next 7-year period.
The Greeting Cards market in the U.S. is estimated at US$7.3 Billion in the year 2021. China is forecast to shrink to US$1.1 Billion by the year 2026 trailing a negative CAGR of -1.2% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to record negative CAGR of -1.8% and -2% respectively over the analysis period. Within Europe, Germany is forecast to decline at approximately -2.5% CAGR. These markets are witnessing decline in growth, constrained by challenges posed by growing social media proliferation, and surging popularity of digital e-cards.
With the advent of digitalization, social media platforms and messaging apps such as WhatsApp, the greeting card business has been affected considerably. This coupled with rising awareness among people about the need to save trees has led to rising demand for e-cards. Despite the challenges posed by the growing social media and e-cards, there still exists a niche consumer base for physical greeting cards, and giving and receiving these cards continues to matter to a set of consumers, albeit a shrinking one. For this niche group of consumers a physical greeting card on special occasions means much more than a Facebook message or an e-card.
Greeting card is the most popular gift for valentine day, surpassing flowers and candies. Valentine's Day is the second largest holiday for giving greeting cards. Valentine's Day is popularly celebrated in the US, United Kingdom, France, Australia, Denmark, Italy, Canada, and Mexico. In the global Valentine`s Day segment, USA, Canada, Japan, China and Europe will drive the -2.4% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$1.8 Billion in the year 2020 will reach a projected size of US$1.6 Billion by the close of the analysis period. China will remain a major market in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$254.7 Million by the year 2026.
Select Competitors (Total 115 Featured) -
- American Greetings Corporation
- Carlton Cards Ltd.
- John Sands (Australia) Ltd.
- UK Greetings Ltd.
- Archies Limited
- Avanti Press Inc.
- Budget Greeting Cards Ltd.
- Card Factory plc
- Child Rights and You
- Crane & Co.
- Current Media Group LLC
- Galison Publishing LLC
- Hallmark Cards, Inc.
- IG Design Group Plc
- LovePop, Inc.
- Party City Holdco Inc.
- Simon Elvin Ltd.
- UNICEF
Key Topics Covered:
1. MARKET OVERVIEW
- History of Greeting Cards: A Peek into its Intriguing Origin
- Global Market Prospects & Outlook
- Developing Economies Present Growth Opportunities
- Companies Adopt Proactive Strategies to Boost Demand
- Low Entry Barriers Make Industry Attractive for Newcomers
- Key Factors Determining Market Success Summarized
- Market Players Embrace the E-Card Business Model
- Consolidation Rife in the Greeting Cards Market
- Greeting Cards - Global Key Competitors Percentage Market Share in 2022 (E)
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
- Rising Popularity of Digital Cards Continues to Negatively Impact Sales of Traditional Greeting Cards
- Increasing Internet Penetration & Growing Smartphone Usage Transforms Digital Greeting Cards Market
- Demographic Trends Play an Important Role in Market Adoption
- Millennials: The Most Lucrative Consumer Cluster and the New Marketing Target
- Advent of Advanced Digital Technologies Fuel Growth for Greeting Cards Market
- Increasing Popularity of Online Platforms Supports Demand for Greeting Cards
- A Glance at Other Major Design Trends for Greeting Cards
- Mobile Phone Apps to Create Physical Greeting Cards: A Growing Trend
- Greeting Cards Turn Eco-friendly
- Customized & Personalized Greeting Cards Present Growth Potential
- Luxury Cards Find Favor Among Consumers
- Rising Demand for Cards for the Blind
- Corporate Greeting Cards: An Ideal Marketing & Advertising Tool
- Workplace Greetings Attain Commonplace Stature
- Retail Landscape for Greeting Cards
- Online Emerges as a Lucrative Retail Segment for Greeting Cards
- Increasing Raw Material Costs Add to Manufacturers Woes
4. GLOBAL MARKET PERSPECTIVE
For more information about this report visit https://www.researchandmarkets.com/r/2bh75p
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