The market for wrapping tissues is projected to be worth US$ 1.38 billion in 2021, rising at a Y-o-Y rate of 4.3% the following year to US$ 1.44 billion. The market is projected to grow at a CAGR of 4.1% from 2022 to 2032 and will likely reach US$ 2.15 billion by that time. Increased demand for silicone elastomers, particularly in the construction and automotive industries, is credited with growth.
Global Wrapping Tissues Market: Dynamics
Growing gift packaging industry is one of the key factor in driving the market of wrapping tissues globally. Increased sales of bouquets is also escalating the demand of wrapping tissues in the market. With the growth in disposable income of the middle class, the spending on such products is increasing and is expected to grow at a healthy CAGR during the forecast period. Consumers are now ready to spend more on gift packaging, which is anticipated to fuel the demand for wrapping tissues.
In recent years, corporate gifting has emerged as a major driving force behind the consumption of the wrapping tissues. Corporate gifting is referred as ‘double edged sword’ which could be used as a sales promotion tool to expand the company’s business and foster new relationships through distributing gifts to their employees or customers on special occasions.
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The wrapping tissues market is expected to register substantial growth in the emerging economies owing to the increased growth in the hospitality industry. Celebration and festive seasons such as Christmas and New Year are the major driving factor behind the increasing demand for the wrapping tissues in the global market.
How is North America Contributing to the Growth of the Wrapping Tissues Market?
North America is experiencing stagnant market growth due to intense competition among packaging vendors, with only a slight increase expected in the forecast year. The largest regional market is expected to be North America. According to some studies, gift wraps, which include wrapping paper, tissue paper, and gift bags, cost around US$ 12.8 Billion in the United States in 2017.
Furthermore, in the United States, rising consumer interest in arts and crafts is fueling the market growth. For example, origami, an ancient art form, has piqued the interest of art enthusiasts. Several similar applications of the product can be found in the decoration of gift bags, boxes, and hamper baskets.
Companies that produce wrapping tissues are focusing on lowering greenhouse gas emissions and using the recovered pulp to make wrapping tissues in order to reduce their environmental impact. Most businesses are primarily focused on offering customized products during various festive seasons in order to entice consumers to purchase their products. Some of the global key market players are below
- APP (Asia Pulp & Paper)
- Procter & Gamble
- Johnson & Johnson
- Kimberly Clark SCA
- Sofidel Group
- Kruger Products
- Clearwater Paper Corp.
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Key Segments Covered in the Wrapping Tissues Market Study
Wrapping Tissues Market by Base Paper:
- Wrapping Tissues from Virgin Pulp
- Wrapping Tissues from De-inked Pulp
- Wrapping Tissues from Mixed Pulp
Wrapping Tissues Market by Distribution Channel:
- Wrapping Tissues Sales through Store Based Retail
- Wrapping Tissues Sales through E-Commerce
Wrapping Tissues Market by End Use:
- Wrapping Tissues for Commercial Use
- Wrapping Tissues for Residential Use
Wrapping Tissues Market by Region:
- North America Wrapping Tissues Market
- Latin America Wrapping Tissues Market
- Europe Wrapping Tissues Market
- Asia Pacific Wrapping Tissues Market
- Middle East and Africa Wrapping Tissues Market