Paper Shredders Market Analysis, Size, Growth, Share & Forecast to 2025 | Grand View Research Inc.
The global paper shredders market size is expected to reach USD 2.9 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 7.8% over the forecast period. The market is driven by consumer spending on disposal of highly secured documents to prevent them from theft, along with the rise in demand from the commercial sector. Moreover, drastic changes in the purchasing power of consumers in developing countries such as China and India are anticipated to boost the product demand over the forecast period. The market is driven by high growth of private companies and demand for office products in Asia Pacific, along with rise in the sales of cost effective items used in the industry. The growth is attributed to growing working population, along with rise in the disposable income of consumers to accommodate paper shredding machines in industry. Moreover, introduction of efficient appliances and growth of the consumer and industrial sectors are anticipated to drive the demand in market. A large number of manufacturers and distributors are entering into the market owing to increasing demand for shredders in the market. However, impact of e-commerce channels, rise in the number of convenience and specialty stores, cost effectiveness, and demand for shredding appliances for the disposal of secured data from consumers provide a huge opportunity for growth of the market.