Personalized Gifts Market Size was valued at USD 40.93 billion in 2022. The personalized gifts market industry is projected to grow from USD 51.98 Billion in 2024 to USD 138.17 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 12.97% during the forecast period (2024 - 2032). The main market drivers for the expansion are the daily increase in personalized gifts services and the growing awareness of people to send handcrafted gifts to their friends, family, or relatives.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The ongoing development of new goods is significantly fueling the expansion of the market for personalized gifts. The market's vendors are concentrating on growing their product portfolios by releasing new variations of personalized gifts. To suit the particular requirements of their clients, they are also attempting to create new products with cutting-edge customization features. Vendors also attempt to offer fresh goods that can be given as gifts during different holidays or special events. As a result, more people will purchase personalized presents as they become more widely available. A multi-year, multi-artist partnership between American Greetings Corp. and Roc Nation was announced in May 2021. It includes the Roc Nation brand and digital and physical products created in conjunction with the real voices of legendary artists. Therefore, the growing availability of new personalized gift varieties will result in higher sales and, consequently, fuel the expansion of the worldwide personalized gifts market during the course of the forecast period. Thus, this factor is driving the market CAGR.
Figure 1: Proportion of consumers of personalized gifts by age group
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Furthermore, a significant industry trend is the expansion of businesses offering personalized gifts. Vendors will be encouraged to undertake measures to broaden the appeal and sales of their goods by the end-users' increasing preference for personalized presents. Vendors are thus concentrating on raising sales and client base through expansions to satisfy the rising end-user demand. They are growing through building an online presence, opening additional stores, and signing contracts with numerous offline and online merchants. Some vendors are also attempting to increase the number of company-owned retail locations. These vendors' expansion ambitions will improve the availability of their personalized gift offerings at more locations and boost their sales, which will accelerate the market's growth momentum throughout the projection period.
However, it is projected that rising smartphone usage and rapid digitization will hasten market expansion. The presents are readily available online and offer a variety of customization options. The gifts are special and add to the memories of the occasions. The gifts are made of some of your images, and there is a rising need for printed picture frames, cushions, and coffee mugs. The demand for handmade presents is expected to increase, and gift exchanges between customers are expected to increase. Increased preference for presents made with 3D printing and the environment. These elements are anticipated to fuel market expansion in the next years. It is predicted that rising smartphone usage and burgeoning demand for online goods will drive market expansion. The industry is expected to increase due to expanding collaboration and free product advertising in television shows, films, and other digital channels. Thus, it is anticipated that this aspect will accelerate personalized gifts market revenue ly.
The personalized gifts market segmentation, based on product type, includes personalized clothing, chocolate platters, personalized accessories, personalized diaries, desk accessories and others. The personalized accessories segment held the majority share in 2022 in the personalized gifts market data because there is a growing desire for personalized presents and a variety of personalized accessories, which drives manufacturers to create novel features.
The personalized gifts market segmentation, based on end-user, includes women, unisex, kids and men. The unisex segment dominated the market growth in 2022 and is projected to be the faster-growing segment during the forecast period, 2022-2030. Numerous lucrative growth opportunities will arise for the category due to the rising popularity of parties and celebrations, particularly among young people, the growing appreciation of culturally diverse festivals and celebrations, and the growth of the gift-exchange market among consumers.
Figure 2: Personalized Gifts Market, by End-User, 2022 & 2030 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The personalized gifts market data, based on distribution channel, includes store-based and non-store-based. The non-store-based segment dominated the personalized gifts market revenue in 2022 and is projected to be the faster-growing segment during the forecast period, 2022-2030. Through e-commerce, clients can access local and international brands of personalized gifts. The growing adoption of smartphones has contributed to a huge growth in e-commerce companies. Personalized gifts are offered via various non-store-based e-commerce portals, including brand-owned online formats and pure-play e-retailers.
By Region, the study provides the market insights for personalized gifts into North America, Europe, Asia-Pacific and Rest of the World. Europe personalized gifts market accounted for USD 13.01 billion in 2022 with a share of around 45.80% and is expected to exhibit a significant CAGR growth during the study period due to e-commerce platforms' increased adoption. Market growth is expected to be accelerated by rising living standards and consumer desire for handmade gifts that are environmentally friendly. Growing customer preference for personalized gifts over traditional gifts and a growing desire to celebrate every event.
Further, the major countries studied in the market report for personalized gifts are: The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 3: PERSONALIZED GIFTS MARKET SHARE BY REGION 2022 (%)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
North America personalized gifts market accounts for the second-largest market share. Gift-giving is a common practice in North America. As an illustration, the typical holiday season in the US—which runs from Thanksgiving to Christmas and New Year's—is the prime time for giving. Some businesses that provide personalized presents additionally make an effort to offer clients additional discounts and promotional incentives. Further, the US personalized gifts market held the largest market share, and the Canada personalized gifts market was the fastest growing market in the region
Asia Pacific Personalized gifts Market is expected to grow at the fastest CAGR from 2022 to 2030. Rising disposable income and an increased interest in personalized gifts among developing nations like China and India are creating profitable prospects in this region. Along with this, the growing number of young people has spread the gifting tradition and boosted online sales. In contrast, the number of businesses offering personalized gifts has increased the market share of the Asia Pacific area. Moreover, China personalized gifts market held the largest market share, and the India personalized gifts market was the fastest growing market in the region
Major market players are spending a lot of money on R&D to increase their product lines, which will help the personalized gifts market grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, with key market developments such as new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the personalized gifts industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.
One of the primary business strategies adopted by manufacturers in the personalized gifts industry to benefit clients and expand the market sector is to manufacture locally to reduce operating costs. In recent years, personalized gifts industry has provided medicine with some of the most significant benefits. The personalized gifts market major player such as Archies Limited (India), Redbubble (Australia), Spencer Gifts (US), Etsy Inc. (US), American Greetings Corporation (US), Hallmark Cards Inc. (US), Card Factory (UK), American Stationery (US), CafePress Inc. (US) and Personalization Mall (US).
A online marketplace for print-on-demand goods based on user-submitted artwork is called Redbubble. The business, which operates in Berlin and San Francisco, was formed in Melbourne, Australia, in 2006. In April 2020, in response to the COVID-19 outbreak, Red Bubble introduced customizable two-layer face masks.
Private, family-run Hallmark Cards, Inc. is an American business headquartered in Kansas City, Missouri. Hallmark is the oldest and biggest manufacturer of greeting cards in the US. It was established in 1910 by Joyce Hall. The business received the National Medal of Arts in 1985. In July 2019, Hallmark worked with James Cropper to launch a new line of greeting cards made from recycled takeout paper cups.
Personalized Gifts Industry Developments
July 2022: A new Etsy Seller app that the company released made it easier for customers to purchase the company's goods online.
North America
Europe
Asia-Pacific
Rest of the World
Middle East
Africa
Latin America
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 40.93 billion |
| Market Size 2023 | USD 51.98 billion |
| Market Size 2032 | USD 138.17 billion |
| Compound Annual Growth Rate (CAGR) | 12.97% (2024-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2018 - 2021 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Product Type, End-User, Distribution Channel and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and Rest of the World |
| Countries Covered | The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Archies Limited (India), Redbubble (Australia), Spencer Gifts (US), Etsy Inc. (US), American Greetings Corporation (US), Hallmark Cards Inc. (US), Card Factory (UK), American Stationery (US) |
| Key Market Opportunities | Increasing Awareness of Eco-Friendly Gifts |
| Key Market Dynamics | Increasing Trend Of Gift-Exchange Rising Demand For 3d-Printed Gifts |
Personalized Gifts Market Highlights:
Frequently Asked Questions (FAQ) :
The personalized gifts market size was valued at USD 40.93 Billion in 2022.
The market for personalized gifts is projected to grow at a CAGR of 12.97% during the forecast period, 2024-2032.
Europe had the largest share in the market for personalized gifts.
The key players in the market are Archies Limited (India), Redbubble (Australia), Spencer Gifts (US), Etsy Inc. (US), American Greetings Corporation (US), Hallmark Cards Inc. (US), Card Factory (UK), American Stationery (US).
The personalized accessories category dominated the market in 2022.
The non-store-based had the largest share in the market for personalized gifts.
Assistant Manager - Research High acumen in analyzing complex macro & micro markets with more than 6 years of work experience in the field of market research. by implementing her analytical skills in forecasting and estimation into market research reports, she has expertise in packaging, construction, and equipment domains. she handles a team size of 20-25 resources and ensures smooth running of the projects, associated marketing activities, and client servicing.
Get in Touch
© 2024 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)
