SAN FRANCISCO, March 24, 2022 /PRNewswire/ — A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled “Greeting Cards – Global Market Trajectory & Analytics”. The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
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Edition: 2; Released: February 2022 Executive Pool: 6915 Companies: 115 – Players covered include 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 and Others. Coverage: All major geographies and key segments Segments: Occasion (Birthday, Christmas/New Year, Valentine’s Day, Anniversary, Other Occasions) Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Latin America; Middle East; Africa.
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Global Greeting Cards Market to Shrink to $20.9 Billion by 2026 Greeting cards reflect the feelings and thoughts of the sender in a relevant way. Although Snapchat and Facebook have made sending instant greetings much easier, younger generations still prefer sending greeting cards. The global market for greeting cards is significantly impacted by changing consumer values, ideas, shifting demographics, and changing technology. The earlier vibrant greeting cards industry is currently under pressure to sustain in the modern digital technology era. The radical changes in the economy, lifestyle and demographics are resulting in steady decline in demand for greeting cards. With the tech-savvy new generation favoring e-cards in place of physical greeting cards, the impact has been evident on the greeting cards industry. E-cards hold an edge as they enable customization to suit different occasions. In addition, the growing postage cost appears to be affecting the future of greeting cards. The use of high-end technologies to increase appeal and reach of greeting cards among consumers is emerging as a common strategy of card manufacturers to safeguard their business in the digital era. Card manufacturers are increasingly integrating audio capabilities and LED lighting features into physical greeting cards in order to boost adoption. Amid the COVID-19 crisis, the global market for Greeting Cards estimated at US$22.5 Billion in the year 2022, 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 U.S. Market is Estimated at $7.2 Billion in 2022, While China is Forecast to Dwindle to $1.1 Billion by 2026 The Greeting Cards market in the U.S. is estimated at US$7.2 Billion in the year 2022. China, the world`s second largest economy, 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.
Valentine`s Day Segment to Contract to $2 Billion by 2026 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 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.
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