Personalized Gifts Market Size to grow by USD 42.003 Billion from 2023 to 2030, Online Segment to be a Major Contributor to the Industry growth
Research Reports
May 09, 2023
Personalized Gifts Market Research Future Overview:
According to MRFR analysis, the global personalized gifts market Size was valued at USD 28.4 billion in 2022. The personalized gifts market industry is projected to grow from USD 30.03 Billion in 2023 to USD 42.003 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 5.75% during the forecast period (2023 – 2030).
The Personalized Gifts Market refers to the industry that provides customized or personalized items as gifts to customers. This market includes a wide variety of products such as customized jewelry, photo albums, mugs, phone cases, and other items that can be personalized with names, dates, messages, or photographs. Personalized gifts are often used for special occasions such as birthdays, weddings, anniversaries, and other memorable events. This market has experienced significant growth in recent years due to the increasing demand for unique and personalized gift options, driven by the rise of e-commerce and online customization tools.
The COVID-19 pandemic has caused many people to cancel or postpone important events like weddings, graduations, and birthday parties, which are often occasions for giving personalized gifts. This has resulted in a decline in demand for some types of personalized gifts. The pandemic has also led to a surge in demand for online shopping, including the purchase of personalized gifts. With more people working and staying at home, online shopping has become more popular, and many consumers have turned to personalized gifts as a way to show their loved ones that they care, even when they cannot be together in person. This has created new opportunities for the personalized gifts market, especially for companies that offer a wide range of customization options and easy online ordering processes. the pandemic has forced many retailers to pivot their business models and focus more on e-commerce sales.
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Key Players:
Some of the key market players are Things Remembered, PersonalizationMall.com, CafePress Inc, Hallmark Cards Inc, Zazzle Inc, American Greetings Corporation, Shutterfly Inc, Moonpig, and Funky Pigeon.
Market Segmentation:
The Global Personalized Gifts Market has been segmented into Product Type, End-User, and Distribution Channel
Based on the Product Type, the market has been segmented into Personalized Clothing, Chocolate Platters, Personalized Accessories, Personalized Diaries, Desk Accessories, and Others.
Based on the End-User, the market has been segmented into Women, Unisex, Kids, and Men.
Based on the Distribution Channel, the market has been segmented into Store-Based and Non-Store-Based.
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Regional Analysis:
Europe dominates the personalized gift industry. The demand of consumers for handcrafted, eco-friendly presents and growing living standards are predicted to promote market expansion. The urge to commemorate every occasion and an increasing customer preference for customized presents over traditional gifts.
The second-largest market share belongs to the personalized gift sector in North America. Giving gifts is a widespread custom in North America. For instance, the US’s traditional holiday season, which lasts from Thanksgiving through Christmas and New Year’s, is the best time to give. Several companies that offer customized gifts also attempt to extend discounts and other incentives to customers. Also, the US personalized gifts industry had the biggest market share, and the fastest-growing market in the area was Canada.
The market for personalized gifts in Asia Pacific is anticipated to expand at the quickest Rate. Profitable opportunities are being created in this region as a result of rising disposable income and a growth in demand for personalized gifts among developing nations like China and India. Along with this, the habit of giving gifts has grown and internet sales have increased due to the rising number of young people. The market share of the Asia Pacific region, in contrast, has risen as a result of the rise in enterprises selling customized gifts.
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