Gifting Market Size, Share, Growth, and Industry Analysis, By Type (Souvenirs and novelty items, Festival gifts, greeting cards, Giftware cards) By Application (Online, Offline), and Regional Forecast to 2033

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GIFTING MARKET OVERVIEW

The global Gifting Market was valued USD 50.49 billion in 2024. Over the forecast period from 2024 to 2033, the market is projected to expand at a CAGR of 1.59 %, reaching an estimated valuation of around USD 58.18 billion by 2033.

The gift market is ever-blooming and is based on the practice of giving and receiving products or experiences on certain occasions to share feelings or to commemorate some important events. The market accommodates a broad spectrum of products ranging from ordinary gifts to high-end ones, thus meeting the consumption demand of the consumers. In other words, the advent of e-commerce has promoted the gifting market by a great deal, as it has become more convenient for consumers to search for and buy distinctive gifts. With the change of trends, the sector keeps on growing by introducing new products and services that meet the needs of consumers in a better way, like providing a wide range of gifts that can be personalized.

COVID-19 IMPACT

"Gifting Market Industry Had a Positive impact due to virtual solutions during COVID-19 Pandemic"

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing Higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.

The global outbreak of COVID-19 made a huge difference in the gifting market as it enjoyed high adoption, especially due to a youthful population that actively sought means to reach out and support others in times of lockdown. In the scenario of the closing of physical shops and maintaining social distance, people turned towards online gifting solutions, which enabled the sending out of gifts without the need for physical presence. In also expressed the theory as a factor that looked to explain why people sought cheap and inexpensive hint-based gifts and other sundry articles. New horizons in gifting were opened through the advent of virtual communication technologies and the increasing concern about health due to the pandemic.

LATEST TREND

"Market growth is driven by personalized, experiential, and eco-friendly gifts"

Over the past few years, interesting changes have been observed in the gifting market, many of which include the increases in spending on personalized and experiential gifts. Order fulfilment in forms such as personalized crystal gifts or tailor-made packaging for the product has continued to be embraced as consumers search for better and more special gifts. Decreased impact caused by seasons on demand for gifts has also been ascribed to eco-gift occurrences, with many customers looking towards sustainability in their purchases. Among these, experience-based gifts, such as concert tickets, travel vouchers, and online classes, have seen a notable surge as people value shared memories over physical products.

GIFTING MARKET SEGMENTATION

By Type

Based on Type, the global market can be categorized into Souvenirs and novelty items, Festival gifts, Greeting cards, Giftware cards

• Souvenirs and Novelty Items: The act of traveling, attending occasions, or celebrating achievements is most often marked by souvenirs, also called novelty items. Depending on the places visited, the hobbies exhibited, or the current trends taken up, these presents are always found to be different. The new range of souvenirs that are personalized has served to fuel the demand ever further as buyers look for souvenirs with a story behind them.

• Festival Gifts: Another component of cultural festivals is festival gifts, which are often properly timed to be given on certain occasions, as greetings, affection, and extending good wishes are the main reasons for giving them. They consist of a wide variety of offerings, including ‘old’ elements such as chocolates and clothes to ‘new’ ones like electronic devices and interior articles. People always liked and molded the ideas of customized cakes differently, which created the trend of cake designs that fuses the two concepts.

• Greeting Cards: These cards have a special place in the hearts of many, as greeting cards can also be considered as gifts, especially during birthdays, Christmas, anniversaries, and many other celebrations. There are different types of greeting cards, going from the simple with just a message to complex, decorated, and customized ones. However, because of the changing times, the way greeting cards are sent has become easier with the introduction of e-cards, which are electronic cards that can easily be delivered through the internet.

• Giftware Cards: Giftware cards are those kinds of gifts that have no limit for the giver as the receiver decides on the items that will fit him or her. In most instances, they are found on both traditional and e-commerce sites, making it easy for the givers as well as the receivers. The surge of technology integration in marketing has seen the emergence and growth of digital gift cards, making them the favorite option for people who want to make spontaneous gifts that are also personalized.

By Application

Based on application, the global market can be categorized into Offline & Online

• Online Market- The online gifting market has been on the rise, notably attributed to its ease of use, as consumers can order and send gifts almost anywhere with the click of a button. E-commerce and specialty gift retailing also has a multitude of different customized gifts suited for different tastes and budgets. The popularity of social networks and the development of advertising of goods and services through the Internet have also increased the need for online gifts, which makes it favorable to a lot of people.

• Offline Market- Even with growth in e-commerce and other technology-mediated services, the offline gifting market conducts many activities that are still lucrative, especially in the markets where traditional retail outlets are dominant and even to the brick-and-mortar stores. There is still a desire from customers for physical shops, which allows them to see and touch gifts before buying them and to interact with a retail employee. Many local shops and even some chains have certain items that are unique to that area or region, which enhances the whole people’s experience of gift giving and receiving.

MARKET DYNAMICS

Market dynamics include driving and restraining factors, opportunities and challenges stating the market conditions.

Driving Factors

• Growth of E-commerce: There is a remarkable rise in gifting with the advent of e-commerce owing to the fact that people can stay at home and search or order gifts from anywhere. With online shops, availing a range of options, for instance, unique and custom-made gifts, for every customer is no longer a problem. Nowadays, most people who wish to present gifts to their loved ones, especially on special occasions, prefer the online shopping due to convenience associated with on-line payments and delivery.

• Increased Personalization:More often than not, thank you gift ideas that are unique and thoughtful are preferred by customers. There are many factors that endow such success, including the popularity of engraved items, custom-designed gift baskets, and even individual captions. The given course of market development trends displays changes in customer behavior, which strives for giving presents not only about products but attaching to them emotional experiences as well.

Restraining Factor

"Rising personalized gift prices may limit market growth to traditional gifts"

The increasing availability of personalized gifts for various occasions is also accompanied by expensive manufacturing and customization processes that may price out such gifts. This pricing can hamper the purchasing power and reach of the gift category to a wider audience. Therefore, a considerable number of consumers are likely to take up cheaper and straightforward traditional gifts.

Opportunity

"The market growth of eco-friendly gifts promotes sustainability and reduces waste"

This concern is about the fast-growing trend of green and eco-friendly gifts. Recyclable boards, biodegradable, and other such gifts have become widely used since people are more careful about the gifts that they give and receive. There is a concern that enhancing the promotion and marketing of those brands that use natural raw materials and exploit sustainable resources will yield results. This trend has found interest and purpose amongst the global society that is encouraging less waste and consumption maximization in other efficient and sustainable ways.

Challenge

"Market growth in gifting faces challenges with inventory and demand fulfillment"

Inventory management and demand fulfillment during peak seasons such as holidays and festivals pose a major challenge to the gifting market. This results in stockouts, delayed deliveries of products and services, and higher operational costs. More so, it is easy for the company to lose the quality of the product when it comes to mass producing customized products. Under such circumstances, managing customer expectations and yet delivering on time with the product in stock is still an area of great concern.

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GIFTING MARKET REGIONAL INSIGHTS

• North America

North America’s gifting business is the largest in volume, owing to a large consumer base, high disposable income, and well-developed e-commerce in the region. This region is benefiting from online and personalized gifts, as the market is constantly growing and changing with new technologies. The United States Gifting Market Size is quite substantial, thanks to the country’s multicultural populace and an increase in the trend of customized gifts. Furthermore, the advanced retail systems in the country and surge in the adoption of digital gifts have aided in augmenting the market growth.

• Europe

Europe plays a major role in the overall gifting market share with online offerings and enhancing gift-giving traditions, customs, and personalization as well. The potential of the women's gifting products market in such countries makes gifts for women's level of income variance even wider since they have low, middle, and high-class types of women’s gifts. Since the advent of e-commerce in Europe, the use of gifts has become easier, therefore increasing the growth rate of the market. Besides, the growing trend of gifting in Europe is responsible for the increased use of green and fairly traded products.

• Asia

Asia being greatly embellished with a myriad of cultures and traditions especially appreciates the concept of giving gifts during almost all close celebrations. As the middle class rises in power in particular nations like communist China and India, dollar signs on luxury gifts and bespoke gifts have also extended further. Including e-commerce in this region has also contributed to the gift market as it has become more convenient with various options available online. Moreover, on occasions like Diwali, Chinese New Year, and the New Year festival, there are also phenomena known as seasonality, which creates increased seasonal demand and assists in the growth of the market.

KEY INDUSTRY PLAYERS

"Industry players drive market growth through innovation, customization, and partnerships"

Key industry players are significantly influencing the gifting market by driving innovation, expanding product offerings, and enhancing customer experiences. Major e-commerce platforms, such as Amazon and Etsy, provide a wide variety of gift options, including personalized and unique items, making gifting more accessible. Brands focus on sustainability, customization, and digital solutions like e-gift cards to cater to evolving consumer preferences. Their marketing strategies and partnerships with designers, retailers, and tech companies continue to shape trends and expand the market’s reach.

List of Top Gifting Companies

• Card Factory Plc - United Kingdom
• Moonpig - United Kingdom
• Hallmark Licensing LLC - United States
• Bloom & Wild - United Kingdom
• Paperchase - United Kingdom

KEY INDUSTRY DEVELOPMENT

A recent development in the gifting market is the rise of digital and virtual gifting, which has gained significant traction due to the ongoing shift in business practices. Companies like Apple and Google Play have embraced this trend, with digital gift cards and virtual experiences becoming increasingly popular as corporate gifts. In 2023, Apple's revenue reached $394.3 billion, with a significant contribution from digital products, including gift cards​. These digital gifts are convenient, customizable, and offer a wide range of options to businesses, catering to the growing demand for contactless and eco-friendly gifting solutions. The trend has accelerated in part due to the pandemic's push toward remote work and online shopping, which is expected to continue growing.

REPORT COVERAGE

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

This research report examines the segmentation of the market by using both quantitative and qualitative methods to provide a thorough analysis that also evaluates the influence of strategic and financial perspectives on the market. Additionally, the report's regional assessments consider the dominant supply and demand forces that impact market growth. The competitive landscape is detailed meticulously, including shares of significant market competitors. The report incorporates unconventional research techniques, methodologies and key strategies tailored for the anticipated frame of time. Overall, it offers valuable and comprehensive insights into the market dynamics professionally and understandably.