The growing popularity of digital cards continues to negatively impact sales of traditional greeting cards
DUBLIN, March 11, 2022 /PRNewswire/ — The “Greeting Cards – Global Market Trajectory and Analysis” report has been added to from ResearchAndMarkets.com offer.
The global greeting card 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 greeting card market is estimated at US$7.3 billion in the year 2021. China should be reduced 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 forecasting 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.
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.
Select competitors (115 total featured) –
- American Society of Greetings
- Carlton Cards Ltd.
- John Sand (Australia) Ltd.
- UK Greetings Ltd.
- Archies Limited
- Avanti Press Inc.
- Budget Greeting Cards Ltd.
- plc card factory
- 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.
Main topics covered:
1. MARKET OVERVIEW
- History of greeting cards: an insight into its intriguing origin
- Global Market Outlook and Prospects
- Developing economies present opportunities for growth
- Companies are adopting proactive strategies to drive demand
- Low entry barriers make the industry attractive to newcomers
- Summary of key factors determining market success
- Market players are adopting the electronic card business model
- Booming consolidation in the greeting card market
- Greeting cards – Percentage of market share of the main global competitors in 2022 (E)
2. FOCUS ON CERTAIN PLAYERS
3. MARKET TRENDS AND DRIVERS
- The growing popularity of digital cards continues to negatively impact sales of traditional greeting cards
- Rising Internet Penetration and Growing Use of Smartphones is Transforming the Digital Greeting Card Market
- Demographic trends play an important role in market adoption
- Millennials: the most lucrative consumer group and the new marketing target
- The advent of advanced digital technologies is fueling the growth of the greeting card market
- Growing popularity of online platforms supports demand for greeting cards
- A look at other major design trends for greeting cards
- Mobile Phone Apps to Create Physical Greeting Cards: A Growing Trend
- Greeting cards go green
- Personalized and Personalized Greeting Cards Show Growth Potential
- Luxury cards find consumer favor
- Growing demand for cards for the blind
- Corporate greeting cards: an ideal marketing and advertising tool
- Workplace greetings reach mundane stature
- Retail landscape for greeting cards
- Online emerges as a lucrative retail segment for greeting cards
- Rising raw material costs add to manufacturers’ woes
4. GLOBAL MARKET OUTLOOK
For more information about this report visit https://www.researchandmarkets.com/r/ja30pd
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