Dublin, March 20, 2024 (GLOBE NEWSWIRE) -- The "U.S. Personalized Gifting Market - Focused Insights 2024-2029" report has been added to ResearchAndMarkets.com's offering.
The U.S. personalized gifting market was valued at $9.07 billion in 2023 and is expected to reach a value of $13.12 billion by 2029, growing at a CAGR of 6.34%
The U.S. personalized gifting market is witnessing a surge in the demand for unique experiences, indicating a shift in consumer preferences. Market players should focus on creating personalized gifting options beyond traditional products, offering experiences that resonate with individual tastes. This trend emphasizes the need for innovative and memorable customization, driving market growth by catering to the evolving desires of consumers seeking more than just tangible gifts.
Focus on Continuous Product Innovation: The U.S. personalized gifting market is driven by the need for continuous product innovation to stay ahead of the competition and satisfy the changing consumer demands. Companies are constantly developing new and innovative personalized gift options. They introduce new customization features, such as adding photos, names, messages, or logos to the gifts. They also incorporate the latest trends and technologies, such as using augmented and virtual reality to enhance the personalization experience. For example, Uncommon Goods offers a range of innovative personalized gifts, such as customized constellation maps, sound wave prints, or personalized whiskey barrels, which are creative, customized gifts.
Rising Disposable Income: The U.S. personalized gifting market is driven by the rising disposable income among consumers, which enables them to spend more on high-quality customized gifts for their loved ones. With more discretionary income available, consumers are willing to pay more for personalized gifts and explore premium customized gift options that may come with a higher price tag.
These premium personalized gifts may offer higher quality, durability, functionality, or exclusivity than the standard customized gifts. As a result, companies in the personalized gifting industry are expanding their product lines to include luxury and upscale offerings that cater to this market segment. For example, Mark and Graham offer a range of luxury personalized gifts, such as personalized leather goods, jewelry, or cashmere scarves.
THE U.S. PERSONALIZED GIFTING MARKET INSIGHTS
The clothing & accessories segment is witnessing significant growth, with the fastest-growing CAGR of 7.03% during the forecast period. The segment is growing prominently due to the rising trend of personalized gifting. Consumers increasingly opt for customized apparel, such as monogrammed shirts or personalized jewelry, to add a unique touch to their gifts.
The online channel is dominating the distribution segment of the U.S. personalized gifting market. The segment growth can be attributed to the convenience of online channels. They provide access to various personalized gifts, allowing consumers to browse and purchase items from the comfort of their homes or on the go.
Based on gender, the female market shows significant growth, with the highest CAGR of 6.61% during the forecast period. The increase can attributed to the interest in personalized jewellery items such as engraved necklaces, monogrammed bracelets, and personalized accessories such as engraved handbags among females.
VENDOR LANDSCAPE
The U.S. personalized gifting market report contains exclusive data on 36 vendors. The U.S. personalized gifting market's competitive scenario is intensifying, with global and domestic players offering diverse products. Regarding market share, a few major players are currently dominating the market, mainly American Greetings Corporation, Cimpress, Etsy, Hallmark, and Shutterfly.
American Greetings launched the Pics & Wishes Digital Line on August 31, 2023, on their IOS mobile app. This introduction simplifies creating and sending highly personalized holiday greetings, catering to users of all ages and skill levels. The card-builder technology from American Greetings aims to make heartfelt greetings easy, personalized, and affordable. This development enhances user engagement, providing a user-friendly avenue for diverse demographics. To stay competitive, other market players should explore integrating similar accessible technologies to broaden their market reach.
PlanetArt unveiled its Photo Calendars Mobile App on October 25, 2023, offering a seamless and creative way to create custom calendars on iOS and Android. This new service allows users to turn their cherished moments into stunning personalized gifts, utilizing an intuitive interface that guides them through the creative process. By tapping into the sentimental value of personalized gifts, PlanetArt's development creates a demand for unique and emotionally resonant products. Market players can capitalize on this trend by expanding their product offerings to include customizable items that foster a deeper connection with customers.
KEY QUESTIONS ANSWERED
- How big is the U.S. personalized gifting market?
- What is the growth rate of the U.S. personalized gifting market?
- What are the trends in the U.S. personalized gifting market?
- Who are the major players in the U.S. personalized gifting market?
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 69 |
| Forecast Period | 2023 - 2029 |
| Estimated Market Value (USD) in 2023 | $9.07 Billion |
| Forecasted Market Value (USD) by 2029 | $13.12 Billion |
| Compound Annual Growth Rate | 6.3% |
| Regions Covered | United States |
VENDORS LIST
Key Vendors
- American Greetings Corporation
- Cimpress
- Etsy
- Hallmark
- Shutterfly
Other Prominent Vendors
- Moonpig
- Zazzle
- Disney
- Not Another Bill
- Gelato
- Create Gift Love
- Notonthehighstreet
- YourSurprise
- Goody
- Redbubble
- American Stationery
- Firebox
- Say It With A GIFT
- Stadium
- Snapfish
- Personalization Mall
- Forever Bespoke
- Printful
- Merchery
- Giftalove
- Uncommon Goods
- Consortium Gifts
- Winni
- Here Here Market
- Snappy
- Bed Bath & Beyond
- Contrado Imaging
- Batch Gifts
- IGP
- Mark and Graham
- Moleskine
Segmentation & Forecast
TYPE (Revenue)
- Clothing & Accessories
- Home Decor
- Kitchen & Tableware
- Stationery & Cards
- Food & Beverages
- Others
DISTRIBUTION CHANNEL (Revenue)
- Online Channel
- Specialty Stores
- Supermarkets & Hypermarkets
- Direct Distribution
- Others
GENDER (Revenue)
- Female
- Male
For more information about this report visit https://www.researchandmarkets.com/r/8tnvrq
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