The global greetings cards market size is projected to experience dynamic growth in the forthcoming years owing to the increasing popularity of Valentine’s Day celebrations across the world, observes Fortune Business Insights™ in its report, titled “Greetings Cards Market, 2021-2028”.
A greeting card can be used to express love, affection, good will, gratitude, or other sentiments towards friends or family. In recent years, there has been an increasing demand for greeting cards due to the rising popularity of celebrating Valentine’s Day around the world. This is an important factor contributing the growth of this market. Further, the greeting card can be used on numerous occasions such as birthday parties, wedding ceremonies, Christmas celebrations, and others in order to send good wishes to close relatives or friends. Thus, there is a rising demand for greeting cards across several regions which is projected to fuel this market’s growth.
However, the increasing use of cell phones and other electronic devices to send the invitations to people is projected to restrict the growth of this market.
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Market Segmentation:
On the basis of type, this market is divided into flat and folded. By product, the market is classified into personalized, thank you, and farewell. Based on end-user, the market is categorized into men and women. In terms of geography, the market is clubbed into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
Highlights/Summary:
The report provides a bird’s eye-view analysis of the industry trends and outlook, as well as supplies a meticulous study of all market segments. In addition, the report contains an in-depth assessment of the market drivers and challenges and also offers an exhaustive evaluation of the regional dynamics and competitive landscape of the market.
Drivers/Restraints:
Rising Popularity of Handmade Greeting Cards to Fuel the Market
Nowadays, there is an increasing popularity of handmade greeting cards instead of readymade cards across several regions as these greeting cards can be customized and decorated as per the user’s convenience and the type of occasion such as birthday, wedding ceremony, and others. This is a crucial factor contributing to the growth of this market. Further, there is a wide variety of greeting cards available on several e-commerce platforms such as Flipkart, Amazon, and others, so that the customers can select their choice of greeting cards as per their requirement. This is also an important factor driving this market’s growth.
List of Key Players Covered in Greetings Cards Market Report:
- Carlton Cards Ltd.
- American Greetings Corporation
- Hallmark Cards Inc.
- IG Design Group Plc
- Galison Publishing LLC
- Herbert Walkers Ltd.
- Avanti Press Inc.
- Party City Holdco Inc.
Regional Insights:
Growing Disposable Income of People to Propel the North America Market Growth
North America region is projected to expand rapidly in the greetings cards market share on account of the rising disposable income and improved standard of living of the people in this region which has resulted in the increasing number of celebrations such as birthday parties, anniversaries, and others.
Europe is expected to witness steady growth in this market due to the presence of some of the prominent greeting card companies such as Hallmark Cards Inc. that are focusing on attracting maximum customers with the help of promotional campaigns.
Competitive Landscape:
Technological Innovations in Greeting Cards to Boost Competition
The emergence of latest technologies such as recordable greeting cards or e-cards has led to an increasing demand for such type of greeting cards in several regions of the market. This has resulted in the rising production of innovative greeting cards by key companies in this market. As a result, there is an increasing competition among these companies which will enable them to diversify their business offerings and strengthen their market position.
Industry Development:
July 2019: Hallmark announced the launch of its multicultural card line. This launch will focus on celebrating Chinese, Indian, African, American, and Latino cultures.
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