The personalized gifts global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Personalized Gifts Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The personalized gifts market size has grown strongly in recent years. It will grow from $26.18 billion in 2023 to $28.47 billion in 2024 at a compound annual growth rate (CAGR) of 8.7%. The growth in the historic period can be attributed to increasing demand for unique and customized products, advancements in technology for personalization, growing consumer preference for individualized experiences, and the and the expansion of e-commerce platforms.
The personalized gifts market size is expected to see strong growth in the next few years. It will grow to $40.02 billion in 2028 at a compound annual growth rate (CAGR) of 8.9%. The growth in the forecast period can be attributed to Increased spending capacity, influence of social media trends, rising popularity of personalized gifts, growing use of data analytics for targeted marketing. Major trends in the forecast period include apparel, rising popularity of personalized home décor, growth in custom-made jewelry, increasing preference for personalized tech gadgets, expansion of bespoke beauty and skincare products, personalized food and beverage items, and custom-printed stationery.
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Scope Of Personalized Gifts Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Personalized Gifts Market Overview
Market Drivers –
The rising interest in festive season gifting is expected to propel the growth of the personalized gift market going forward. Festive season gifting involves the exchange of thoughtful presents during holidays or special occasions. The festive season gifting can be attributed to heightened consumer sentiment, increased disposable incomes, and the growing trend towards personalized and meaningful gift exchanges. Personalized gifts are favored during the festive season because they evoke sentimental value and create lasting memories, aligning with the spirit of celebration and goodwill that characterizes holiday gifting traditions. For instance, in October 2023, according to a survey of 8,103 adult consumers published by the National Retail Federation, a US-based retail trade association, winter holiday celebrants expect to spend an average of $875 on seasonal items, $42 more than in 2022, with $620 reserved for gifts. Moreover, nearly 23% plan to give experiential gifts, up from 19% in 2021. Therefore, rising interest in festive season gifting will drive the growth of the personalized gift market.
Market Trends –
Major companies operating in the personalized gifts market are focusing on developing advanced personalized experience solutions, such as AI-based gift recommendation services, to enhance the customer experience and increase sales. Artificial intelligence-based personalized gift recommendations leverage data analysis and machine learning algorithms to suggest unique and thoughtful gifts tailored to an individual’s preferences and interests. For instance, in January 2024, Etsy Inc., a US-based company that provides unique and creative goods, launched Gift Mode. It is an AI-based gift recommendation service designed to curate personalized gift ideas based on a recipient’s interests. This service uses a combination of human curation and machine learning to offer gift options tailored to more than 200 recipient personas. Gift Mode lets users provide details about the recipient and the occasion and generates personalized gift suggestions. Additionally, users can create a gift teaser with a note, tracking information, and a preview of the gift or opt to leave the gift as a surprise.
The personalized gifts market covered in this report is segmented –
1) By Type: Personalized Clothing, Chocolate Platters, Personalized Accessories, Personalized Diaries, Desk Accessories, Other Types
2) By Distribution Channel: Online, Offline
3) By End-User: Women, Unisex, Kids, Men
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Regional Insights –
Europe was the largest region in the personalized gifts market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the personalized gifts market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the personalized gifts market are Amazon.com Inc, Hallmark Cards Inc., Pandora A/S, Swarovski AG, Michael Kors Holdings Limited, Tiffany and Company, Etsy Inc., American Greetings Corporation, Shutterfly Inc., Kate Spade New York, 4imprint Group Plc, Custom Ink, Spencer Gifts LLC, Card Factory plc, Redbubble Group Limited, Things Remembered Inc., Printful Inc, Moonpig.com Ltd., Spring Inc. (Teespring), Zazzle Inc., Minted LLC, CafePress Inc., PersonalizationMall.com LLC, Snapfish by HP Inc., Spreadshirt
Table of Contents
1. Executive Summary
2. Personalized Gifts Market Report Structure
3. Personalized Gifts Market Trends And Strategies
4. Personalized Gifts Market – Macro Economic Scenario
5. Global Personalized Gifts Market Size and Growth
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32. Global Personalized Gifts Market Competitive Benchmarking
33. Global Personalized Gifts Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Personalized Gifts Market
35. Personalized Gifts Market Future Outlook and Potential Analysis
36. Appendix
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