The global greeting card market is expected to shrink to $20.9 billion by 2026

FACTS AT A GLANCE
Editing: 1; Published: January 2021
Executive commitments: 6915
Companies: 115– Players covered include American Greetings Corporation; Carlton Cards Ltd.; John Sand (Australia) Ltd. ; UK Greetings Ltd. ; Archies Limited; Avanti Press Inc.; Budget Greeting Cards Ltd. ; Card Factory plc; Children’s 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 and others.
Blanket: All major geographies and key segments
segments: Occasion (Birthday, Christmas/New Year, Valentine’s Day, Anniversary, Other Occasions)
Geographies: World; United States; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia Pacific; Latin America; Middle East; Africa.

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ABSTRACT-

The global greeting card market will shrink to $20.9 billion by 2026
Greeting cards reflect the sender’s feelings and thoughts in a relevant way. Although Snapchat and Facebook have made sending instant greetings much easier, younger generations still prefer sending greeting cards. The global greeting card market is significantly impacted by changing consumer values, changing ideas, changing demographics and changing technology. The once vibrant greeting card industry is currently under pressure to keep up in the age of modern digital technology. Dramatic changes in the economy, lifestyle and demographics lead to a steady decline in the demand for greeting cards. With the new tech-savvy generation favoring electronic cards over physical greeting cards, the impact has been evident on the greeting card industry. Electronic cards have an advantage because they allow customization according to different occasions. Additionally, the rising cost of postage seems to affect the future of greeting cards. Amid COVID-19 crisis, Global Greeting Cards Market Estimated at 23 billion US dollars in 2020, is expected to decrease to the 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 expected to register a CAGR of -0.7% and shrink to US$6.1 billion at the end of the analysis period. After a thorough analysis of the business implications of the pandemic and the induced economic crisis, the growth of the Christmas/New Year segment is readjusted to a revised CAGR of -2.5% for the next 7-year period.

The US market is estimated at $7.3 billion in 2021, while China is expected to decrease to $1.1 billion by 2026
The US greeting card market is estimated at US$7.3 billion in the year 2021. Chinathe second largest economy in the world, is expected to shrink to US$1.1 billion by 2026, with a negative CAGR of -1.2% over the analysis period. Other notable geographic markets include Japan and Canada, each forecast to record a negative CAGR of -1.8% and -2% respectively over the analysis period. In Europe, Germany is expected to decline to around -2.5% CAGR. These markets are experiencing declining growth, limited by challenges posed by the increasing proliferation of social media and the growing popularity of digital e-cards. With the advent of digitization, social media platforms, and messaging apps like WhatsApp, the greeting card industry has been drastically impacted. This, coupled with a growing awareness among people of the need to save trees, has led to a growing demand for electronic boards. Despite the challenges posed by the growth of social media and e-cards, there is still a niche consumer base for physical greeting cards, and giving and receiving these cards continues to be important for a set of consumers, although ‘decreasing. For this niche consumer group, a physical greeting card on special occasions means so much more than a Facebook post or e-card.

Valentine’s Day segment to contract $2 billion by 2026
The greeting card is the most popular gift for Valentine’s Day, surpassing flowers and candies. Valentine’s Day is the second biggest holiday for gift giving. Valentine’s Day is a popular holiday in the United States, UK, France, Australia, Denmark, Italy, Canadaand Mexico. In the global Valentine’s Day segment, United States, Canada, Japan, China and Europe will drive the CAGR of -2.4% estimated for this segment. These regional markets representing a combined market size of US$1.8 billion in the year 2020 will reach a projected size of US$1.6 billion at the end of the analysis period. China will remain a major market in this group of regional markets. Led by countries such as Australia, Indiaand South Koreathe market of Asia Pacific should reach US$254.7 million by 2026. More

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