Greeting Cards Market Size, Share & Trends Analysis Report By Type (eCard, Traditional Card), By Distribution Channel (Online, Offline), By Region, And Segment Forecasts, 2023 - 2030

Report Overview

The global greeting cards market size was valued at USD 19.25 billion in 2022 and is anticipated to expand at a CAGR of 0.9% from 2023 to 2030. The increasing popularity of festive celebrations and occasions is driving the growth of the greeting card market. This trend is likely to continue in the future as more people express their love and affection through the exchange of cards. The demand for handmade cards is also increasing as they are perceived to be more personal and thoughtful. According to Card Factory’s published data, the number of UK adults purchasing greeting cards reached 73% in 2021 compared to 71% in 2020.

In addition, the innovation of recordable greeting cards and e-cards presents an opportunity for the market to grow further. These new forms of cards offer customers more options and flexibility in expressing themselves. In January 2022, Hallmark Cards Inc., the iconic greeting card company, introduced an innovative line of personalized video cards, allowing customers to create memories that will last a lifetime. As part of its initiative to create "cards for keeps," Hallmark's new video greeting cards allow you to send a heartfelt message through video to the recipient. With the ability to record voice and music, customers can now create more personalized cards that better convey their emotions. Such an aspect will significantly drive the greeting cards market growth.

The outbreak of the COVID-19 pandemic has affected the production and distribution of greeting cards. Many card manufacturers and retailers have faced challenges in terms of supply chain disruptions and reduced demand due to the closure of non-essential retail stores. In addition, the pandemic has led to changes in consumer behavior, with more people shopping online for greeting cards rather than visiting physical stores. As a result, majority of the card retailers have seen a decline in sales due to reduced sales of greeting cards and other gifting accessories. This has led to a negative demand in overall sales of greeting cards and has led to declining market growth during the COVID-19 phase.

In summary, while the greeting card industry is facing some challenges, there are still opportunities for growth. The industry can capitalize on the popularity of seasonal and everyday greeting cards and the demand for handmade cards, while also embracing new technologies to offer customers more options. According to the figures published by the Greeting Card Association (GCA) in its UK Greeting Card Market Report 2021, a total of 708 million individual greeting cards were bought in 2020. The amount spent on single greeting cards in 2020 was 1.49 billion dollars in the U.K.

Type Insights

The traditional card segment dominated the market and accounted for the largest revenue share 75.76% in 2022. The traditional cards offer a level of personalization and customization that digital alternatives may not always be able to match. While digital cards can be customized with text and images, traditional cards can be decorated with a wide range of materials, including glitter, stickers, and other embellishments, which can add an extra touch of personality and creativity. Sending and receiving cards has been a longstanding practice in many cultures and traditions, and many people continue to value the sense of connection and community that traditional cards can provide. Such factors will assist the traditional card segment in retaining its dominance over the forecasted years.

Furthermore, the eCard greeting cards segment is expected to grow at the fastest CAGR of 4.2% during the forecast period.  E-cards are a convenient and cost-effective way to send greetings and well wishes to friends and family, particularly for occasions such as birthdays, holidays, and other special events. One of the main advantages of e-cards is their convenience. With just a few clicks, users can send a card to multiple recipients at once, without having to worry about postage or delivery times. E-cards are also often customizable, allowing users to add personal messages, photos, and other elements to make their greetings more unique and memorable

Moreover, key manufacturers and organizations are playing a crucial role in collaborating with gift-giving enterprises and organizations to attract users with personalized designs in animated greeting card collections. For instance, in December 2020, U.S. Bank launched eCards in collaboration with Zelle and Vouchr, a fintech startup, and offered consumers a choice of over 200 personalized designs including birthday, holiday, congratulations, thanksgiving, and many more. Such developments in eCards will establish the eCards with the fastest growth over the forecasted timeline.

Distribution Channel Insights

The offline segment dominated the market and accounted for the largest revenue share of 64.63% in 2022. One of the key advantages of selling greeting cards through retail stores is the ability to offer customers a hands-on shopping experience. Retail stores provide customers with the opportunity to browse and handle physical cards, which can help to drive sales and foster a sense of connection with the products. In addition, retail stores often have established relationships with card manufacturers and distributors, which can help to ensure a steady supply of high-quality products.

However, the online channel is expected to be the fastest-growing segment during the forecast period. The selling of greeting cards online has the ability to reach a wider audience. Online retailers can offer a wider selection of cards than physical stores, and can often target specific demographic groups or occasions more effectively. In addition, online retailers can provide customers with personalized recommendations and customized shopping experiences, based on their browsing and purchasing history. 

Regional Insights

North America region dominated the greeting cards market and emerged as the largest market in 2022 and is also expected to maintain its dominance over the forecast period driven by factors such as the continued popularity of card-giving, the introduction of new designs and innovations, and the expansion of the market into new channels and regions. In addition, the North American market is characterized by a wide range of greeting card categories and themes, from traditional and religious cards to more modern and humorous designs. This diversity of offerings has helped to fuel the growth of the market and attract a broad range of consumers. According to the facts from the Greeting Card Association in February 2020, Americans purchase an estimated 6.5 billion greeting cards each year and the sales of greeting cards are estimated between USD 7-8 billion annually. Also, the data revealed nine out of ten households' likeliness for greeting cards purchased annually in the U.S.

Also, economic growth and rising disposable income both contribute to a greater standard of living, which in turn encourages Americans to celebrate more life milestones like birthdays, engagements, new homes, anniversaries, and jobs, among other occasions. These factors are fueling North America’s market expansion.

On the other hand, Europe is too expected to grow at a significant CAGR during the forecast period. Europe is expected to be the second most dominant region, and some of the factors contributing to the market's growth include the presence of globally renowned greeting card brands such as Hallmark Cards, Inc., UK Greeting Ltd, Budget Greeting Cards Ltd., and others who are working hard to attract customers through promotional campaigns. Budget Greeting Cards, the UK's largest greeting card wholesaler, is focusing on opening five new locations. Europe is also regarded as one of the most important locations for the celebration of love, particularly in cities such as Amsterdam, Paris, Milan, etc. which attracted more couples and most of the couples tend to express their love through a greeting love letter, and these factors act as growth drivers for the reason.

Key Companies & Market Share Insights

The greeting card industry is always changing and updating. To stay head-on in the market, players tend to launch new strategies more frequently. Market players are focusing on increasing investments in R&D to innovate new and attractive solutions for consumers for ease of purchasing greeting cards in the market. Moreover, major players are targeting new regions and demography to increase the sales of the products, by either entering the new market solely or by collaborating with local brands and retailers across the globe.   

• In November 2021, Hallmark Cards, Inc. today introduced a completely new type of greeting card that makes it easier than ever to create one-of-a-kind moments that will last a lifetime. Hallmark Video Greeting Cards are traditional Hallmark greeting cards that allow users to easily add a personalized video to the card.

• In July 2020, Dolly Parton has signed a licensing agreement with American Greeting for greeting cards for selling via Walmart online and retail stores. The collection is part of American Greeting's multi-year partnership with Dolly Parton, which includes digital and physical products incorporating the legendary singer-music, and songwriters such as a "SmashUp" personalized video greeting.

Some of the prominent players in the greeting cards market include:

• American Greeting Corporation

• Archies Limited

• Avanti Press Inc.

• Budget Greeting Cards Ltd.

• Card Factory plc

• Carlton Cards Ltd.

• Crane & Co.

• Galison Publishing LLC

• Hallmark Cards, Inc.

• IG Design Group Plc

• John Sands (Australia) Ltd. 

Greeting Cards Market Report Scope

Global Greeting Cards Market Report Segmentation

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global greeting cards market report based on type, distribution channel, and region:

• Type Outlook (Revenue, USD Million, 2017 - 2030)

  • eCard

  • Traditional Card

• Distribution Channel Outlook (Revenue, USD Million, 2017 - 2030)

  • Online

  • Offline

• Regional Outlook (Revenue, USD Million, 2017 - 2030)

  • North America

    • U.S.

  • Europe

    • Germany

    • U.K.

    • France

  • Asia Pacific

    • China

    • Japan

    • Australia

  • Central & South America

    • Brazil

  • Middle East & Africa