A greeting card is an illustrated piece of card or a high quality paper featuring an expression or sentiment which includes a message of greeting, congratulation, grief, or joy for several occasions such as Christmas, birthdays, holidays or any other occasion. The greeting card is generally packed in an envelope which is available in different styles. These cards are majorly mass produced and are also available in handmade versions, distributed by hundreds of companies across the globe. Nine out of ten households are expected to buy greeting cards every year. According to the Greeting Card Association (GCA), the market is projected to be women-driven since women account for almost 80% of the sales of greeting cards.
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Greeting Cards Market – Drivers and Restraints
Increasing trend of combining technology with greeting cards (such as greeting cards with LED lighting or musical cards) is projected to boost the greeting cards market over the forecast period. Rising acceptance of e-cards due to growing awareness is projected to influence the market growth for greeting cards in the coming years. Also, increasing preference of consumers for handmade greeting cards is projected to drive growth of this segment over the forecast period. However, rising social media trends and proliferation of e-cards along with the huge mobile communication market may act as a hindrance to the growth of the greeting cards market over the forecast period. However, several efforts are being undertaken by combining innovation and developing custom designed and engineered 3D cards, launching personalized photo greeting cards, and integrating lighting capabilities with audio capabilities within physical greeting cards. These cards are then made available at stationary stores and supermarkets to enhance the product visibility.
Greeting Cards Market – Segmentation
The global greeting cards market can be segmented based on type, application, and region. Based on type, the greeting cards market is categorized into seasonal greeting cards (Christmas/New Year, Valentine’s Day, Mother’s Day, Easter, Father’s Day, & other Seasonal Cards) and everyday greeting cards (Sympathy, Thank You, Wedding, Thinking of You, Get Well, New Baby, and Congratulations & Other Everyday Cards). The application segment is segregated into business cards and personal cards.
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Based on region, the greeting cards market can be segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. Europe is projected to hold the major share of the market in terms of revenue over the forecast period followed by North America. The U.K. is expected to dominate the Europe region. According to the Greeting Card Association (GCA), people in the U.K. spent US$ 2.2 billion on greeting cards in 2017. Approximately 100 million single cards were sold on Christmas, and hence, a total of one billion cards were sold as Christmas greeting cards in the UK. Multi-cultural presence of consumers in Asia Pacific helps the region to remain in the spotlight for the market growth of greeting cards. The growth in the region is attributed to several factors which include a large card exchange culture in Asian countries, launch of culture specific cards in various communities of the region, and rising efforts of manufacturers to design localized cards.
Greeting Cards Market – Key Players
Prominent players operating in the global greeting cards market are American Greetings Corporation, Avanti Press Inc., Current Media Group LLC, Budget Greeting Cards Ltd., IG Design Group Plc, Card Factory plc, Party City Holdco Inc., Schurman Retail Group (SRG), Galison Publishing LLC, Crane & Co., John Sands (Australia) Ltd., Archies Limited, Herbert Walkers Ltd, Carlton Cards Ltd., Nihon Hallmark K.K., Simon Elvin Ltd., Hallmark Cards, Inc., Child Rights and You, and UK Greetings Ltd.
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