Monday, 10 March 2008

Greeting Cards to Exceed US$27 Billion by 2010

Global Market for Greeting Cards to Exceed US$27 Billion by 2010, According to a New Report by Global Industry Analysts, Inc.

"Greeting cards industry, worldwide, is expected to witness significant growth in the future. Major factors fueling the growth include increasing aging population, which represents a heavier card-giving segment and innovative trends such as the customization of cards by mass retailers to suit specific markets. Global market for greeting cards is projected to exceed US$27.6 billion in value and 25.8 billion units in volume by 2010.

San Jose, CA (PRWEB) March 5, 2008 -- High levels of innovation, and product development characterize the greeting cards market. Low entry barriers associated with the cards industry has additionally unleashed a torrent of new product innovations, keeping card publishers on the run. Another distinct trend worthwhile to note, is the move towards reorganization in the market, as players reorient strategies and realign their businesses to better reflect the changing competitive dynamics, and remain viable and competitive in the maturing market.

The fleeting landscape of greeting cards is fraught with the capriciously changing consumer values, ideas, shifting demographics, and changing technology. The toughest challenge confronting market participants is the need to maintain sharp focus amid perpetual change.

The US and Europe, which jointly hold onto more than three-quarters of the global greeting cards market are vying for the top spot. Volume Sales in the United States, the largest market for greeting cards are estimated at 9 billion units in 2007. Asia-Pacific represents the third-largest greeting cards market globally, with estimated value and volume shares of 12.51% and 11.45% respectively in 2007. The region is also expected to emerge as the fastest-growing regional market during the period, 2000-2010, registering a compounded annual growth rate of 6.21% in terms of value and 6.16% in terms of volume. Worldwide sales of Christmas/New Year Cards are projected to exceed 7.68 billion units by 2009".

Source: PRWeb

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