November, MRFR Press Release/- Market Research Future has published a Report on the Global Personalized Gifts Market.
The personalized gifts market is predicted to register a CAGR of 5.83% during the 2020 to 2027 forecast period. A market research report predicts a USD 33.66 Billion valuation of the market by 2027. The growth is anticipated to be supported by the increasing trend of gift exchange. Based on the report, a rise in the disposable income will drive growth in the market in the coming years till 2027. However, the unorganized retail sector will negatively affect the personalized gifts market’s growth. The high cost associated is anticipated to be another factor which could turn out to be a threat to companies during 2022 to 2027. The market report based on primary and secondary data reveals that distribution channels, product type, and end-users segments will witness a healthy growth till 2027. While the increasing disposable income will support the market during the forecast period and the increasing spending power will also help the market globally, the growth could be affected by the weak supply chain which could hinder business activities. Supply chain related constraints are also expected to be responsible for stalled market growth till 2027.
The personalized gifts market is categorized into smaller segments such as distribution channels, product type, and end-users in order to analyze the market. The distribution channels, product type, and end-users segments are then categorized further. The distribution channels segment is categorized into store-based (convenience stores, specialty stores, supermarkets & hypermarkets, and others) and non-store-based (direct and indirect) . Analysts have studied these sub segments. Based on product type, the global market is further segmented into personalized accessories, personalized chocolates & chocolate platters, personalized clothing, personalized diaries & desk accessories, personalized gifts for kids, personalized photo frames, wall decoration, and others. Based on the study of these segments, analysts have shared market forecasts. On the basis of end-users, the market is segmented into smaller segments including kids, men, unisex, and women.
Globalization and acceptance of cross-cultural festivals will drive growth in the market during the forecast period 2020 to 2027. Across all the segments including distribution channels, product type, and end-users, the global market for personalized gifts will witness a healthy growth. However, factors such as the low demand from developing countries could become a threat to the market’s growth. Economic activities surrounding the personalized gifts sector will also get benefitted from shifting trends in the consumer market. Businesses across personalized gifts have been thoroughly studied and analyzed by personalized gifts industry’s expert researchers. Findings have been published in the personalized gifts market research report with forecasts till 2027.
The personalized gifts market, apart from the product and service related segments, is spread across the world. The regional markets of personalized gifts covered in the report are North America, Europe, Asia-Pacific, the Middle East and Africa as well as the rest of the world. Cross-cultural festivals and celebrations are set to be a key growth factor for businesses active in the personalized gifts space. The market across North America is segmented into the United States, Mexico, Canada, and others. Regional markets in the personalized gifts sector across the European market are segmented into Germany, Italy, the United Kingdom, and France. The market in the APAC region is segmented into India, China, Japan, and others. Personalized gifts based businesses across the world will be supported by the growing demand for innovative products during the forecast period 2020 to 2027. However, the growth could be hindered by the easy availability of alternative products. The market is also segmented into the Middle East and Africa regions among others.
Personalized gifts based companies have been studied and profiled in the market research report. The personalized gifts market along with its segments and key players has been studied. Personalized gifts business analysis is done to identify competitors and their strategies. The global personalized gifts market research report covers core values, strengths and other key factors about personalized gifts related companies. Competitors to help comprehend their mission, vision, core values, niche market, strengths, and weaknesses. The increasing preference of consumers towards gift giving is set to help the market during the forecast period 2020 to 2027. The market is anticipated to reach a higher valuation of USD 33.66 million with a CAGR of 5.83%. However, the emergence of digital gifts will prove to be affecting the personalized gifts market growth.
Virgin Experience Days, a UK-based gift experience provider, will buy Cloud 9 Living's entire US service. The two brands are industry leaders in their respective domestic gift experience sectors, with Virgin Experience Days seeing the purchase as a stepping stone for further penetration into a $1 billion US gift experience category with considerable space for innovation. Cloud 9 Living would be renamed as Virgin Experience Gifts in the United States as part of the Virgin family. Deeper penetration into some US geographies is planned, as well as an expansion of the product line and the introduction of exclusive and unique experiences which have already distinguished the concept in the UK.