The global Paper Shredder Market size is expected to register a revenue of USD 2.9 billion from 2019 to 2025, according to a new report by Million Insights. It is expected to grow with a 7.8% CAGR in the upcoming years. Rising need for paper disposal that contains important data is projected to drive the market demand for these products in the upcoming years.
Ease of availability, simple process of working and low cost are some of the factors expected to drive the market growth during the forecasted years. As these products are compact, they can be placed near the desk or inside the house. Availability of these products with a wide variety of specifications like sheet capacity, cool time, and bin capacity help in catering to a large number of consumer demands, thereby boosting growth of the paper shredders market.
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The offline distribution channel segment held the largest share of 86.3% across the global market due to the need for physical verification of the product before making the buying decision. The online distribution channel is anticipated to register the highest CAGR of 10.3% from 2019 to 2025 due to features like doorstep delivery, warrantee and hassle-free return policy.
North America held the largest share of 38.8% across the global market, during 2018 owing to rising number of workplaces, offices and commercial spaces. As the number of workplaces in developed countries like Canada and the U.S. is increasing rapidly, the market for these products is anticipated to boost in the upcoming years. The Asia Pacific region is anticipated to register the fastest growth with 9.9% CAGR from 2019 to 2025 due to increasing disposable income and growing population of working professionals.
Key players in this market are ACCO Brands; Fellowes, Inc.; Intimus Shredder; and ElcomanSrl. They are continuously engaged in product development and innovation to boost the sales of their products. They are also gaining acquisition and mergers with the local manufacturers to penetrate in the regional markets.
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Further key findings from the report suggest:
• The cross-cut type of shredder held the largest share of 55.6% in the global paper shredder market.
• The online distribution channel is anticipated to register the highest CAGR of 10.3% from 2019 to 2025.
• The micro-cut shredder held the largest CAGR of 9.0% CAGR during the forecasted years.
• The region of North America held the largest share of 38.8% in 2018.
Million Insights has segmented the global paper shredder market on the basis of product, distribution channel, and region:
Paper Shredders Product Outlook (Revenue, USD Billion, 2015 – 2025)
• Strip-cut
• Cross-cut
• Micro-cut
Paper Shredders Distribution Channel Outlook (Revenue, USD Billion, 2015 – 2025)
• Online
• Offline
Paper Shredders Regional Outlook (Revenue, USD Billion, 2015 – 2025)
• North America
• U.S.
• Europe
• Germany
• U.K.
• Asia Pacific
• China
• India
• Central & South America
• Brazil
• Middle East & Africa
• South Africa
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