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The home and office paper shredders market size is estimated to grow at a CAGR of 7.28% between 2022 and 2027. The market size is forecast to increase by USD 1,024.27 million. The growth of the market depends on several factors such as the growing online sales of paper shredders, the cost advantages of paper shredders, and the enhanced need for efficient waste management.
This home and office paper shredders market report extensively covers market segmentation by end-user (commercial and residential), product (cross-cut, micro-cut, and strip-cut), and geography (North America, APAC, Europe, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The cost advantages of paper shredders are driving growth in the home and office paper shredders market. It is extremely vital for businesses to shred documents in order to protect confidential information. The cost of shredding paper is lower than the loss of vital information. Two ways in which cost advantages in shredding can be achieved are either by purchasing a shredder or by hiring a third party to perform the shredding activities.
However, purchasing a shredding machine provides cost advantages to companies with higher shredding volumes and frequency. In order to obtain cost advantages, companies on the market provide end-users with the option of choosing paper shredders in accordance with their budget limits. Therefore, cost advantages related to paper shredders will drive the growth of the global home and office paper shredders market during the forecast period.
The growing environmental regulations on paper manufacturing are a key trend in the home and office paper shredder market. To protect the environment, most consumers prefer to use products that are environmentally friendly. Both home and residential customers consider paper shredding as a responsible way of getting rid of waste from the premises. In response to this demand, paper shredders with very low environmental impacts are manufactured by the major suppliers of office supplies.
Moreover, environmental regulations greatly influence the current practices and future opportunities for the pulp and paper industry. Thus, continuous innovation is expected to have a favorable impact on paper products and shredders, in view of growing environmental concerns, thereby driving the global home and office paper shredders market during the forecast period.
The increased outsourcing of shredding services is a major challenge faced by the home and office paper shredders market. The risk that confidential information will be exposed to external parties, which might lead to a security breach, is increased in companies employing their staff for the purpose of destroying important documents. In addition, the costs and efforts associated with hiring and training employees on the use of a paper shredding machine and disposing of the waste generated are high.
On the other hand, certified paper shredding service providers are attracting more companies and residents by offering safe and secure off-site paper shredding services. The client's documents are shredded in a remote facility, monitored by CCTV and set up in an extremely secure area. Therefore, increased outsourcing of shredding services will hamper the growth of the global home and office paper shredders market during the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Home and Office Paper Shredders Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
ACCO Brands Corp.- The company offers home and office paper shredders such as GBC cross-cut shredder duo, GBC cross-cut Shredder Alpha Confetti, and GBC micro-cut shredder auto plus 600M.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The commercial segment is estimated to witness significant growth during the forecast period. Paper shredders are predominantly used in the commercial sector to ensure the protection of sensitive and confidential information. There are several factors contributing to this high volume of use, including speed, productivity, the amount and frequency of data destruction, as well as regulatory bodies' compliance obligations.
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The commercial segment was the largest segment and was valued at USD 1,377.83 million in 2017. Paper products are being replaced with electronic products in the majority of offices across the world. In particular, commercial areas are benefiting from the services offered by a paper shredder. It is expected to positively impact the commercial segment of the market in focus, thereby driving the growth of the commercial segment of the global home and office paper shredders market during the forecast period.
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APAC is estimated to contribute 41% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Another region offering significant growth opportunities to vendors is North America. North America held the largest share in the global home and office paper shredders market owing to the increasing awareness among consumers, established business infrastructure and commercial spaces, and the increased concentration of market players. The region is also home to a number of the world's biggest banks and IT firms, which are an important driving force for its regional market.
Moreover, Silicon Valley, the global center for technologies and innovations in California, US, is home to the world's largest high-tech corporations. Office space and the number of employees both at regional and global levels are increasing because of an increased number of businesses and entrepreneurs, thereby driving the demand for paper products. Such factors are expected to positively impact the home and office paper shredders market in North America during the forecast period.
The COVID-19 pandemic negatively impacted the home and office paper shredders market growth in 2020 due to the closure of businesses and offices in the region. However, in 2021, the initiation of vaccination drives led to the lifting of lockdown restrictions in North America. This increased demand for home and office paper shredders in this region, which led to the reorganization of schools and offices. Moreover, the pandemic has increased the sales of home and office paper shredders through online channels. This, in turn, will drive the growth of the regional market during the forecast period.
The home and office paper shredders market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Home And Office Paper Shredders Market Scope |
|
Report Coverage |
Details |
Page number |
162 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 7.28% |
Market growth 2023-2027 |
USD 1,024.27 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
7.16 |
Regional analysis |
North America, APAC, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 41% |
Key countries |
US, Japan, China, Germany, and France |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
ACCO Brands Corp., Aditya Systems, Arihant Maxsell Technologies Pvt. Ltd., Aurora Corp. of America, AVANTI Business Machines Ltd., Dahle North America Inc., Elcoman Srl, Fellowes Inc., Fornnax Technology Pvt Ltd., HSM GmbH plus Co. KG, intimus International GmbH, Jiangsu Golden Hi-tech Digital Co. Ltd., Krug and Priester GmbH and Co. KG, Martin Yale Industries, Mitsui Matsushima Holdings Co., Ltd., Raj Electricals, Royal Consumer Information Products, SHREDDERS and SHREDDING CO., Staples Inc., and Bonsen Electronics Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data you are looking for, you can reach out to our analysts and get customized segments. |
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