Wrapping Paper Market to Reach USD 4.5 Billion by 2032: Trends, Drivers, and Opportunities | Exclusive Report by Transparency Market Research, Inc.

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:

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
  • E-commerce
  • Retail Stores
• Individual/Household
• Foodservice

By Region

• North America
• Europe
• Asia Pacific
• Middle East & Africa
• Latin America

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