The Global Market for Greeting Cards is Projected to Decline to US$20 Billion by 2024

Greeting Cards Market Faces Challenging Times Ahead With Technology Changing the Way People Communicate & Express Feelings, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size, and demand forecasts on the global Greeting Cards market. The global market for Greeting Cards is projected to decline to US$20 billion by 2024, constrained by changing consumer values, ideas, shifting demographics, changing technology, and the challenges posed by growing social media and e-cards proliferation.

The global market for greeting cards is characterized by the abstract feelings of showing affection, bonding and love to each other. Sending and receiving greeting cards is a pleasure enjoyed by people worldwide. Cards are designed to suit distinct events such as graduating from a university, joining the armed forces, buying a new car to adopting a child, in fact even the loss of a child. Love and weddings are especially well captured subjects in greetings, right from falling in love, getting engaged, and marriage, to thanking the wedding party, parents, and friends. Before the onset of the digital communications era, the market for greeting cards flourished, as it was the most effective means of conveying feelings to loved ones. However, the growing importance of Internet had a major impact on greeting cards market. The increasing popularity of online greeting cards is likely to erode the market for traditional greeting cards in the coming years. Social media is also expected to take on the greetings market in a big way in the future, resulting in serious implications for the manufacturers as well as marketers. Yet ironically, the trend is also expected to generate consumer interest in premium quality cards against the backdrop of growing inclination of consumers worldwide to preserve memories and give respect for family values.  

Use of high-end technologies to increase the appeal and reach of greeting cards among consumers is today a common strategy utilized by card manufacturers to safeguard their business in this digital era. Card manufacturers are increasingly integrating audio capabilities and LED lighting within physical greeting cards in order to boost adoption. Musical greeting cards especially have been attracting significant interest among consumers, especially in the mass market. Efforts are also on to integrate technology with creative art work in a wide range of hand-made cards. Another interesting trend is the use of Electrical circuits made by printed ink to design interactive paper-based greeting cards. Use of graphics software, electronic circuits/transistors, miniaturized printed circuit boards, batteries, conductive ink, touch sensitive technologies, and microphones for audio effects, among others, are poised to gain momentum in the upcoming years. Use of 3D design effects, which enhances humorous images, will also gain significance in the coming years.

As stated by the new market research report on Greeting Cards, Europe represents the largest regional market worldwide, followed by the United States. The UK dominates greeting card sales in Europe as more cards are purchased per person in the country than anywhere in the world. Key factors hampering growth in these developed markets include increasing competition from economical e-cards, growing postal rates and expanding alternatives for do-it-yourselfers. Asia-Pacific ranks as the fastest growing market with a value CAGR of 3.0% over the analysis period.

Key players in the market include American Greetings Corporation, Archies Limited, Avanti Press Inc., Budget Greeting Cards Ltd., Child Rights and You (CRY), Current Inc., Galison (A McEvoy Group Company), Party City Holdco Inc., Hallmark Cards, Inc., IG Design Group Plc, Simon Elvin Ltd., UNICEF, and           Crane & Co., among others.

The research report titled “Greeting Cards: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, mergers, acquisitions and other strategic industry activities of global companies. The report provides market estimates and projections in dollars and units for all major geographic markets such as the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific (Australia, China, South Korea, and Rest of Asia-Pacific), Middle East/Africa, and Latin America. Product segments analyzed in the report include Seasonal Cards (Christmas/New Year, Valentine's Day, and Others) and Everyday Cards (Birthday, Anniversary, and Others).

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