According to the research report titled ‘Global Paper Shredder Market Size study, by Product (Strip-cut, Cross-cut and Micro-cut), by Distribution Channel (Online and Offline), by and Regional Forecasts 2021-2027’, available with Market Study Report, global paper shredder market size was remunerated USD 1.95 billion in 2020 and is expected to multiply at a CAGR of 8% over 2021-2027, subsequently reaching USD 3.34 billion by the end of the forecast period.
 

Rising cognizance regarding disposal of waste, focus on security of confidential private and public data, and growing production of paper are the key factors propelling global paper shredder market growth, cites the study.
 

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In fact, Statista states that the global production of paper climbed from 412.85 million metric tons in 2016 to 419.72 million metric tons in 2018. Similar developments in this marketplace are projected to add to the industry progression.
 

For the unaware, a paper shredder is a machine that shreds paper into strips or small particles. They also maintain the security of sensitive and confidential data.
 

Stringent government regulations due to increasing environmental concerns are likely to contribute to the market development.
 

Considering factors hampering the remuneration scope of worldwide paper shredder industry, growing preference of consumers for soft copy of the document is anticipated to act as a major challenge for businesses operating in this vertical.
 

Based on product type, the market is divided into micro-cut, cross-cut, and strip-cut. As per distribution channel, the industry segmentation comprises offline, and online.
 

Moving on to geographical ambit, North America, Asia Pacific, Latin America, and Europe are the key contributors to the overall market growth. Of these, North America currently holds significant portion of global paper shredder market share, creditable to increasing number of commercial spaces along with surging sales of shredding machines in economies like Canada and the United States.
 

On the other hand, Asia Pacific industry is projected to record considerable growth over the coming years, owing to mounting demand for shredders in private spaces and government offices in India and China.
 

Coming to the competitive area, well-known firms profiled in global paper shredder market report are Intimus Shredder, Shredders & Shredding Company, Martin Yale Industries, Dahle North America Inc., Elcoman S.R.L., HSM GmbH + Co. KG, ACCO Brands Corporation, and Krug + Priester GmbH & Co. KG.