The global paper shredder market was estimated at USD 2.3 billion in 2020, with a compound annual growth rate (CAGR) of 7.65% predicted from 2021 to 2027. The global market for paper shredders is projected to be driven by growing environmental concerns. The market is likely to be driven by several reasons, including increased paper manufacturing and business documentation. Furthermore, paper shredders eliminate the burning of paper, lowering an organization’s carbon footprint. However, the high cost of paper shredders and the growing use of the soft copy for documentation are projected to stifle the market’s growth. Furthermore, the growing availability of low-cost paper shredders, together with the growing demand for the secure destruction of government and private-sector records, will increase the demand for paper shredders. All of these factors are expected to propel the global paper shredders market ahead during the projected period.
A paper shredder is a device that splits documents into small pieces before throwing them away. This is used by many government agencies, private organizations, large corporations, small enterprises, and individuals to destroy confidential documents and sensitive information such as marketing strategy, financial statements, strategic objectives, and personnel data. The tool is used to destroy data-secured documents to prevent theft or unlawful copying. Paper shredders are available in a variety of sizes and costs. They safeguard sensitive and secret information security and are used in the office and at home to dispose of trash. Any confidential rubbish, such as payment information, medical records, and legal documents, must be appropriately disposed of under the Data Protection Act.
The Paper shredder market’s sales of shredding machines have increased due to greater awareness about trash management and waste size reduction for easier disposal. Only a few government agencies use third-party paper disposal services. Some of the municipal corporations used to rely on some third-party services for disposing of their data waste. The emergence of paper shredders has thereby provided security for the data and has, in turn, reduced the labor cost. With various cuts of strip papers by consumers, shredding machines have penetrated the market from corporate offices and small businesses to huge industrial and defense departments, furthermore, by disposing of financial statements, loyalty cards, credit cards, confidential prints, magnetic tapes, and CDs/DVDs, the solution aids in the security of the company’s data.
The Paper shredder market will be driven by the shredding machines’ simplified operating method and low price, allowing them to fit readily into any budget. The product is suitable for personal usage and can be kept close to the desk. This saves consumers time by allowing them to shred their waste papers without wasting time disposing of them. Easy availability, a simple working technique, and low cost are predicted to promote the demand for paper shredder machines that can keep these objects at a desk or inside the house because they are compact. Bin size, sheet capacity, cool time, and run-time are all factors to consider when purchasing a paper shredder machine. As a result, the market for paper shredders is predicted to grow significantly throughout the forecasted years of 2021 to 2027.
The paper shredder market has grown significantly in recent years, with double-digit growth in the pre-Covid-19 period. The paper shredder market’s double-digit growth drove vendors across the value chain to automate this potential market. Shredder manufacturers were developing new technology to compete in the competitive industry environment in which they operate. Manufacturers were constantly working to improve size reduction technology and provide end-users with more options.
The same may be said about the Paper Shredder Market. Over the previous 18 months, almost every industry in the world has suffered a major setback. This can be attributed to severe delays in their respective manufacturing and supply-chain operations due to various precautionary lockdowns and other limitations imposed by governments worldwide. The Paper Shredder Market is predicted to recover as respective governing authorities begin to lift these imposed lockdowns. Furthermore, consumer demand has decreased as people are now more focused on removing non-essential expenses from their budgets since the general economic situation of most people has been badly impacted by the outbreak. These factors are likely to harm Paper Shredder Market’s revenue path throughout the forecast period.
The Paper Shredder market is expected to grow rapidly post covid-19 era, as commercial end-users and government agencies seek to pursue environmental services possibilities to achieve sustainable development through resource management. Government agencies are proposing measures to promote ecologically friendly scrap recycling techniques, which could stifle the growth of the Paper Shredder market. The strong influence of drivers, on the other hand, means that demand for Paper Shredder Market will increase.
By product, the paper shredder market is divided into Strip-cut, Cross-cut, Micro-cut shredders. The cross-cut type segment took the lead in the paper shredder market. It makes little pieces of paper by cutting the paper in half crosswise. The segment’s rise can be ascribed to the machine’s speed when compared to other types. Furthermore, the item’s great durability, combined with its lower price, boosts product sales in the market. The convenience of use of such a machine, as well as its easy installation and service requirements, are expected to improve product demand in the future. The Micro-cut type is the fastest-growing segment, with a considerable compound annual growth rate (CAGR) during the forecast period. The product is used because it provides the maximum level of security by producing inaccessible paper particles with security levels of P-5, P-6, or P-7, resulting in increased market growth. Furthermore, an increase in the number of large MNCs using micro-level shredding machines to dispose of private information is expected to drive product growth over the projection period. Furthermore, the high cost of machines compared to other types and the installation of high-security measures required in government offices and large organizations are expected to boost market revenue.
By Distribution channel, the paper shredder market is segmented into online, offline. The offline channel had the highest share in the distribution channel segment of the paper shredder market. Consumer demand for accessing shredder to evaluate product feasibility and specifics such as bin storage size and heat and cool time features accessible in items is contributed to growth in offline sales. Furthermore, different attachments in items such as rollers and bins sold through stores, certain brands’ availability, and competitive pricing are expected to increase demand throughout the projected period. The increase in high-quality items in specialized stores, convenience stores, hypermarkets, and supermarkets has boosted shredding machine sales in the offline sector. Furthermore, in addition to the simplicity of purchase and quality assurance of products, the stores’ delivery services are expected to stimulate product growth in the market.
By Region, the paper shredder market is segmented into North America, Europe, South America, Asia Pacific, and the Middle East & Africa. In the paper shredder market, North America held the largest share. The market is being pushed by increased business spaces, impacting shredding machine sales in nations like the United States and Canada. Furthermore, demand for shredding machines is expected to be driven by the Region’s penetration of prominent manufacturers over the projected period. People are becoming more aware of how easy it is to dispose of waste paper goods in the sector, driving the market. Whereas, Due to increased demand for shredders in government offices and small private spaces in countries such as China and India, Asia Pacific is predicted to grow at the fastest CAGR over the forecast period. The rise in consumer spending power and predisposition toward efficient solutions for easy disposal of commercial waste is credited with the growth.
Kobra India Security Systems, Meikoshokai Co., Ltd., EBA, Staples, Inc., Stericycle, Dahle North America, Inc., Bonsaii.com, Royal Consumer Products, Shredders India, Uchida Yoko Global Limited, Infres Methodbex Pvt Ltd, Aurora Corp. of America, WEIMA Maschinenbau GmbH, Zhengzhou Huahong Machinery Equipment Co., Ltd, Krug & Priester GmbH & Co. KG, Vecoplan LLC, Widesky Machinery Co., Ltd., and others are key players of the paper shredder market.
|Market Size Value in 2020||USD 2.3 Billion|
|The revenue forecast in 2027||USD 3.2 Billion|
|Growth Rate||CAGR of 7.65% from 2020 to 2027|
|Region covered||North America, Europe, Asia-Pacific, South America, and Middle East & Africa|
|Key companies Profiled||Kobra India Security Systems, Meikoshokai Co., Ltd., EBA, Staples, Inc., |
Stericycle, Dahle North America, Inc., Bonsaii.com, Royal Consumer Products,
Shredders India, Uchida Yoko Global Limited, Infres Methodbex Pvt Ltd, Aurora
Corp. of America, WEIMA Maschinenbau GmbH, Zhengzhou Huahong Machinery
Equipment Co., Ltd, Krug & Priester GmbH & Co. KG, Vecoplan LLC, Widesky
Machinery Co., Ltd., and others
By Distribution channel
The size of the Paper shredder market, USD 2.3 Billion in 2020, will reach USD 3.2 Billion by 2027.
The growth rate of the Paper shredder market is 7.65% during the forecast period.
Ease of availability, Rising awareness for waste disposal is the growth driver of the Paper shredder market.
Kobra India Security Systems, Meiko shokai Co., Ltd., EBA, Staples, Inc., Stericycle, Dahle North America, Inc., Bonsaii.com, Royal Consumer Products, Shredders India, Uchida Yoko Global Limited, Infres Methodbex Pvt Ltd, Aurora Corp. of America, WEIMA Maschinenbau GmbH, Zhengzhou Huahong Machinery Equipment Co., Ltd, Krug & Priester GmbH & Co. KG, Vecoplan LLC, Widesky Machinery Co., Ltd., and others are key players of the paper shredder market.
In the paper shredder market, North America held the largest share. The market is being pushed by increased business spaces, impacting shredding machine sales in nations like the United States and Canada.