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A greeting card is a card that is used for expressing one's emotions, sympathy, joy, thanks, humor, admiration, and love. Some of the factors which contribute to the growth of the market include birthday, anniversary, and festive wishes. Most friends and family want to send their appreciation and love to a person when his/ her birthday came through a warm birthday greeting card this act as one of the supporting factors for the growth of the market. Furthermore, the wedding anniversary also acts as a flourishing factor for the rise in demand for the product as couples often want to express their thoughts and emotions through an anniversary greeting card. Moreover, giving best wishes to friends and family during a festive season using a best wishes greeting cards act as a boosting factor for the growth of the market.
Companies like Avanti Press Inc., Budget Greeting Cards Ltd., Card Connection, Carlton Cards Ltd., Papyrus, John Sands, Archies Limited, and others are trying hard to meet the need and requirements of their customers to suit every culture, events, and occasions.
The increasing popularity of the celebration of Valentine's day acts as a driving factor for the growth of the market. Valentine’s day is a celebration of love and many couples are using this day to express their love for one another through the use of valentine cards and this act as a propelling factor for the growth in demand of the product. Additionally, the popularity of handmade greeting cards is becoming more popular and are valued by people all over the world which is also acting as a supporting factor for the growth of the market.
The innovation of recordable greeting cards which has the ability to record voice and music over the card can act as an opportunity for the growth of the market. Furthermore, due to the advancement of technology e-card is now becoming increasingly popular which also drives the growth in demand for the product.
However, the rise in usage of smartphones and the internet act as a restraining factor that is hampering the growth of the market. As the smartphone is one of the quickest ways to send out invitations or greetings to friends and family most people nowadays tend to avoid the used of the traditional form of greeting cards.
Key Market Driver -
The increasing popularity of the celebration of Valentine’s day act as a driving factor for the growth of the market.
Key Market Restraint -
Rise in usage of smart phone and other electronic devices act as a restraining factor for the growth.
The key players which are operating in greeting card market include 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., and others.
The global greeting card market is segmented by type, by product, by end-user, and by geography.
Based on type, the market is segmented into flat and folded. The folded segment is anticipated to hold the larger share this is due to considering folded cards as a formal and more commonly found in a card shop which most people prefer to buy. And also most manufacturers pushing the production of folded cards results in more demand as compared to flat greeting cards.
Based on the product the market is fragmented into personalized, thank you, and farewell. The personalized segment is projected to hold the biggest share as a personalized card target specific person like a lover, a sister, a son or a daughter, and others which is relatable by consumers and tends to drive more demand as compared to other fragments.
Depending on the end-user, the market is segmented into men and women. Women is considered to hold a major share as compared to men since women want to express more of their emotions and tend to send out more cards on different occasions.
Geographically, the global greeting card market is segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa.
North America is anticipated to be the dominating region and is estimated to continue its supremacy during the forecast period of 2020-2027. The contributing factors which help in the growth of the market are due to economic growth and increasing disposable income leads to a higher standard of living, and a higher standard of living tend to drive more celebrations like birthday, engagement, new home, anniversary, new job and others which is acting as a propelling the growth of the market. According to CNN, the average amount of spending on Valentine's Day-related gifts in the United States is $143.56 million, and this act as one of the driving factor for the growth of the market in this region.
Europe is anticipated to be the second dominating region and some of the factors contributing to the growth of the market are Europe is the home to greeting card giant companies like Hallmark Cards, Inc, UK Greetings Ltd, Budget Greeting Cards Ltd., and others are trying hard to gain the attraction of customers though their promotional campaigns. For instance, Budget Greeting Cards UK’s largest wholesaler of a greeting card is focusing on opening five new branches. Europe is also considered to be one of the biggest places of the celebration of love especially in cities like Amsterdam, Paris, Prague, Vienna, and Venice it attracted more couples and most of the couples tend to express their love through a greeting love letter and these factors act as a fostering force for the growth of the market.
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