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The personalized gifts market size is estimated to increase by USD 14.98 billion at a CAGR of 8.35% between 2023 and 2028. The market's growth is driven by several factors, including the continuous development and introduction of new products, rising demand for 3D-printed personalized gifts, and the growing popularity of private-label brands. These elements collectively fuel market expansion, reflecting evolving consumer preferences and technological advancements. The continuous development and launch of new products keep the market dynamic and responsive to consumer needs. Simultaneously, the increasing demand highlights a trend towards unique, customized items. Additionally, the growing popularity of private-label brands underscores a shift towards cost-effective, quality alternatives to established brands. Thus, the interplay of these factors delineates the landscape for the anticipated growth of the market catering to innovative and personalized consumer products.
The market is experiencing robust growth due to increasing smartphone usage and digitization, allowing for the creation of unique hand-crafted gifts and personalized clothing. 3D printing technology enables bespoke items that appeal to a broad client base including friends and relatives. Companies like Roc Nation are expanding stores and contracts despite challenges such as the Zero-Covid policy, trade tensions, and the risk of recession. To maintain competitiveness, businesses leverage peer-to-peer collaborative platforms, digital archives, and research platforms to offer bespoke updates. The market benefits from complimentary updates on trends and technologies, enhancing competitor percentages, and ensuring that expansions meet the evolving demands of personalized gifting.
The continuous evolution and introduction of fresh products stand out as pivotal drivers behind the burgeoning growth of the market. Market players are dedicated to broadening their product portfolios through the launch of novel variations of personalized gifts.
They are innovating with unique personalization options to cater to the distinct preferences of their clientele. Additionally, endeavors are underway to introduce fresh products suitable for various occasions and festivals. This concerted effort towards diversification ensures a wider array of personalized gift choices for consumers, thereby stimulating increased purchases. Consequently, the expanding availability of novel personalized gift variants is poised to propel market growth significantly in the forecast period.
The rising popularity of eco-friendly personalized gifts is an emerging trend shaping the market growth. Companies operating in the market are increasingly focusing on providing products made of organic and natural materials. One of the advantages of providing and using eco-friendly gifts is they are biodegradable. Hence, they can decompose easily without causing environmental pollution. As they are made of non-toxic raw materials, they will not cause any side effects or allergies to receivers. Companies are focusing on providing eco-friendly gifts to reduce the environmental impact associated with their production.
Moreover, some of the companies operating in the market are also focusing on expanding their eco-friendly personalized gift product lines. Hence, the increasing focus of companies on providing these will aid in increasing their sales and thereby fuel the growth of the market during the forecast period.
High competition from unorganized companies is a significant challenge hindering market growth. Well-established companies face high competition from unorganized companies in the market, which are not registered with the respective governments and have irregular terms of employment. These players offer products that are similar to those offered by key companies. Therefore, price and brand are the two differentiating factors between organized and unorganized players. The market is highly competitive.
However, companies in the market compete primarily on price, quality, brand recognition, and service. Most unorganized players target customers through low-priced offerings and compromise on quality, as the operating cost and the investment required are low. Therefore, high competition from unorganized players is a major challenge for well-established companies in the market during the forecast period.
The non-photo personalized gifts segment is estimated to witness significant growth during the forecast period. Non-photo mainly include personalized texts and other wishes. Non-photo gifts are available in the form of wearables and accessories, decorations, kitchenware and tableware, sports equipment and toys, food and beverages, pet care, and bed and bath gifts.
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The non-photo personalized gifts segment was the largest segment and was valued at USD 13.88 billion in 2018. Companies in the US, as well as countries in Europe and others, are promoting personalized food and beverage products. For instance, Pinnacle Promotions has been providing custom promotional food and beverages, such as the City Bonfires Smores Night Pack featuring a Portable Fire Pit, Custom lid label, and Custom Box Label. It is the new trend for City Bonfires. The original portable fire pit, as seen on TikTok, is lightweight, portable, and made in the US. It has a burn time of 3-5 hours. Food-grade soy wax that is non-toxic and simple to light and extinguish contains everything needed to prepare four Smores sandwiches. Ideal for emergency kits, camping, enjoying smores, and other activities. A full-colour lid label for the fire pit and box is included in the price. Therefore, such customizations offered by companies can boost the growth of the market during the forecast period.
Photo personalized gifts are available in various categories, such as wall decor, photo cards, calendars, and photo gifts. Photo gifts are personalized by integrating or pasting the favourite pictures on the gifts. It offers a perfect way to provide a personal touch to a gift and make it more impressive for the receiver. Some of the prominent companies in the global market are American Greetings, Card Factory, and Hallmark. Certain companies are focusing on launching seasonal customer services, which enable customers to personalize photo gifts. Thus, the increasing availability of photo personalization software will encourage more companies to use such software and thereby drive the growth of the segment of the market during the forecast period.
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Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Gifting culture is widespread in North America. For instance, in the US, the traditional holiday season is considered the main gifting season. Usually, it starts with Thanksgiving and then moves to Christmas, and ends with New Year. The Thanksgiving celebration is an inherent part of North American culture. In the US, it is celebrated in November, and in Canada, it is celebrated in October. Certain companies also try to provide additional promotional offers to help their customers buy gifts at lower costs. Customers in North America prefer to gift their children personalized games that are related to puzzles and knowledge.
In addition, the market for certain types of gift is expected to face some challenges during the forecast period, as more people in the region are increasingly using text, e-mail, and e-cards to send their greetings on special occasions. The growing inclination for e-cards may affect the sales of greeting cards in the region and thereby hinder the potential growth of the market in North America during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
American Greetings Corp. - The company offers personalized gifts such as eCards, and Creatacards.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
Gifts Retailing Market: Gifts Retailing Market by Distribution Channel, Product, and Geography - Forecast and Analysis
UK Personalized Gifts Market: UK Personalized Gifts Market by Distribution Channel and Product - Forecast and Analysis
Europe - Personalized Gifts Market: Europe - Personalized Gifts Market by Product and Distribution Channel - Forecast and Analysis
The market is thriving with a variety of options like chocolate platters, personalized accessories, personalized diaries, and desk accessories tailored for women, men, unisex, and kids. Leading companies such as Archies Limited and Personalization Mall offer both store-based and non-store-based solutions. Platforms like Red Bubble utilize user-submitted artwork to create unique items like face masks. The rise of experiential gifting and promotions by social media influencers drive market growth, even amidst challenges like global inflation. Research tools and platforms ensure businesses stay competitive. Companies leverage research platforms to understand trends and maintain relevance, catering to diverse needs from family gifts to innovative personalization techniques.
Market Scope |
|
Report Coverage |
Details |
Page number |
161 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 8.35% |
Market Growth 2024-2028 |
USD 14.98 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
7.35 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 34% |
Key countries |
US, Canada, China, Germany, and UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
American Greetings Corp., American Stationery Co. Inc., CafePress Inc., Card Factory Plc, Chococraft Creations Pvt. Ltd., Cimpress Plc, ESCO Technologies Inc., Etsy Inc., Fat Brain Toys LLC., Ferns N Petals Pvt. Ltd., funkypigeon.com Ltd., Giftiliya, Gifto Graphics, Godiva Chocolatier Inc., Hallmark Card Inc., Personal Creations, Pinnacle Promotions, Redbubble Ltd., Shutterfly Inc., Signature Gifts Inc., Spencer Gifts LLC, The Walt Disney Co., and Zazzle Inc. |
Market dynamics |
Parent market analysis, Market forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the market forecast period. |
Customization purview |
If our market growth analysis report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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