New York, US, Nov. 17, 2022 (GLOBE NEWSWIRE) -- Personalized Gifts Market Overview:
According to a Comprehensive Research Report by Market Research Future (MRFR), "Personalized Gifts Market Information by Product Type, End-User, Distribution Channel, and Region - Forecast till 2027”, the market could thrive at a CAGR of 5.83% between 2020 and 2027. The market size will be reaching around USD 38.66 Billion by the end of the year 2027
Market Synopsis
Personalized gifts are given based on the other person’s likes and interests, allowing consumers to materialize their relationship through gifts. Consumers are constantly looking for unique and creative gifts instead of conventional gifts that can work for any occasion like anniversaries, birthdays, or as a gesture to foster the relationship. It is now a simple task for people to opt for the perfect gift given the presence of a variety of innovative products in the market.
The rise in partnerships with popular giants like Target, D-Mart, and Walmart is encouraging emerging companies to bolster their presence in various regions. Besides, the massive preference for eco-friendly personalized gifts could be a lucrative opportunity for the players in the review period. Other than this, the escalating inclination towards functional personalized gifts will further stimulate the industry’s growth.
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Report Scope:
| Report Attribute | Details |
| Market Size in 2027 | USD 38.66 Billion |
| CAGR | 5.83% |
| Base Year | 2019 |
| Forecast Period | 2020-2027 |
| Historical Data | 2018 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | by Product Type, End-User, Distribution Channel, and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Increasing Trend Of Gift-Exchange |
| Rising Demand For 3d-Printed Gifts |
Market Competitive Landscape:
The affluent companies in the personalized gifts industry include
- Archies Limited (India)
- American Greetings Corporation (US)
- Redbubble (Australia)
- Spencer Gifts (US)
- Card Factory (UK)
- Etsy Inc. (US)
- CafePress Inc. (US)
- Personalization Mall (US)
- Hallmark Cards Inc. (US)
- American Stationery (US)
November 2022
Snappy, the popular gifting brand has introduced SnappyGifts.com, its latest platform that bolsters its gifting services as well as expertise to offer an enhanced gifting experience to more customers ahead of the holiday season. With SnappyGifts.com, shoppers will be able to explore personalized, editor-curated collections, customizing and sending something thoughtful to everyone on their list.
Market USP Covered:
Market Drivers:
The personalized gifts industry can anticipate a significant expansion in the coming years, on account of the surge in product innovations and their introduction in the market. To cater to the rising unique preferences and likes of customers, brands are coming up with creative variants of personalized gifts for various occasions. The increasing availability of innovative products in the market is encouraging people to spend considerably on personalized gifting products, which should benefit the global market.
The largely fragmented market for personalized gifts is the result of the presence of numerous companies along with a handful of well-established brands. The major brands are quite focused on designing innovative products that cater to all the needs of the customers. Some established firms are acquiring regional, smaller players to expand their worldwide reach. In the years to come, the worldwide market should witness several new companies making their entry, which is bound to intensify the competition level among the existing brands.
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Market Restraints:
Personalized gifts are generally considered luxury products that cost a lot higher compared to regular ones. These high prices discourage consumers to buy them, which can result in a drop in their demand as well as a reduced market growth rate in the years to come.
Also, the low awareness level of personalized gifts among people and their preference for lesser-priced, traditional gifts can affect the worldwide market negatively.
COVID 19 Analysis
COVID-19’s impact has given way to numerous repercussions for people worldwide. The aftermath is linked with the significant social and economic burden on people worldwide. While the major policymakers are implementing new frameworks and industries are adopting advanced models of expansion to maintain their relevance, people are facing a series of mental trauma.
Around the world, the rising cases have spurred mental, and economic issues, especially among the elderly. Additionally, the younger populace has been dealing with challenges owing to the loss of livelihoods and is opting for family care to address the repercussions. The focus is largely on the treatment of COVID-19 and the development of a vaccine, which steers attention away from other markets. Luxury items are considered non-essential, a fact that will be unfavorable for the personalized gifts market in the years to come.
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Market Segmentation
By Product Type
The product types in the market include personalized chocolates & chocolate platters, personalized diaries & desk accessories, personalized clothing, wall decoration, personalized photo frames, personalized accessories, and more.
By End-User
Unisex, women, kids, and men have been listed as the top industry end-users in the study.
By Distribution Channel
Store-based, as well as non-store-based, are the major distribution channels available in the worldwide market.
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Regional Insights
Europe clinches the leading position in the market, owing to the huge popularity of personalized gifts in the region. A large number of renowned companies in the region offer extensive ranges of innovative products that cater to every requirement of the consumers. Other than this, the affluent lifestyle led by European customers and social media’s massive popularity in Italy, France, the United Kingdom and Germany further enhance the appeal of personalized gifts.
The American market will be performing tremendously well in the future, in light of the rising number of creative gifts ranging from canvas prints to novelty items. The accelerated demand or eco-friendly items will be a key trend in the region.
Asia Pacific is seeing a popular trend in the form of digital marketing. Social media platforms are responsible for the high popularity of digital marketing in the region. Brands are promoting their product ranges on social media such as Instagram, Facebook, Pinterest, Twitter, and Linked In, which should foster the expansion rate of the personalized gifts market in the approaching years.
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Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
