PUBLISHER: Market Research Future | PRODUCT CODE: 1619015
PUBLISHER: Market Research Future | PRODUCT CODE: 1619015
In 2023, the personalized gifts market was valued at USD 30,754.10 million. The Global Personalized Gifts industry is expected to expand from 2024 to USD 53,948.50 million by 2032, with a compound annual growth rate (CAGR) of 6.5% over the forecast period (2024-2032).
Various trends are predicted to drive the growth of the personalized gifts industry, including shifting customer preferences, technology advancements, and developing business strategies. Consumers are becoming more environmentally conscious, resulting in an increased desire in presents made from sustainable materials or produced using eco-friendly methods. Personalized things manufactured from recycled materials or with low environmental impact are increasing popularity, reflecting the global shift toward sustainable practices. Furthermore, the incorporation of sophisticated technologies such as AR and VR is likely to accelerate the growth of the personalised gifts market. Such technologies provide consumers with interactive and immersive experiences, allowing them to see personalized products before making a purchase.
Market Segment insights
The Personalized Gifts Market is divided into four product categories: sweets, photo frames and home decor, personalized accessories, and others.
The Personalized Gifts Market is divided into four segments based on end users: men, women, unisex, and children.
The Personalized Gifts Market is divided into two segments based on distribution channel: offline and online.
Regional Insights
The North America region was valued at USD 10,030.1 million in 2022 and is predicted to generate an absolute dollar potential of USD 6,495.31 million for players operating in the region between 2023 and 2032. The region reflects money created by three countries: the United States, Canada, and Mexico.
The area has a 30.16% market share in 2023 and is expected to reach USD 16,218.1 million by 2032. The examination of the Europe region includes the sales and distribution of personalized gifts in Germany, the United Kingdom, France, Spain, Italy, and the rest of Europe. Hand-made and elaborate products have long been popular among Europeans, owing to the continent's rich history of artisanal craftsmanship and cultural heritage.
The Asia-Pacific region contributes significantly to the Personalized Gifts Market, with a high young adult population in India and China. Because of their large populations and quickly rising economies, these two countries wield disproportionate power in the regional market.
When it comes to gift-giving, the Middle East and Africa (MEA) region, which includes Northern Africa, Southern Africa, Turkey, and the Gulf Cooperation Council (GCC) countries, is extremely culturally significant.
Key companies in the Personalized Gifts Market include Mondelez International, Inc., Mars Incorporated, The Walt Disney Company, The Coca-Cola Company, Marks & Spencer Group plc, Ferrero Group, Shutterfly, Dylan's Candy Bar, Custom Gift Co - Executive Online Retail Ltd, and Masilo.