NEW YORK , May 10, 2022 /PRNewswire/ -- The personalized gifts market is growing at a CAGR of 7.48 % and is expected to register an incremental growth of USD 11.19 billion between 2020 and 2025. The report analyses the market size, and growth, and provides accurate predictions on the growth of the market.
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Key Segments
The personalized gifts market is segmented by product (non-photo personalized gifts and photo personalized gifts) and distribution channel (online and offline).
Based on the product, the non-photo personalized gifts will account for maximum sales in the market. Non-photo personalized gifts include personalized texts and other wishes. They 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. The growing demand is encouraging vendors to introduce innovative features to make personalized gifts more attractive to buyers. This is increasing the availability of a wide range of non-photo personal products, thereby driving the growth of the segment.
By distribution channel, the online segment will contribute significantly toward the growth of the global personalized gifts market. The rise in the number of e-commerce vendors and increasing global penetration of smartphones have been crucial in driving the growth of the segment.
Regional Growth Analysis
The global personalized gifts market is analyzed across five regions — North America, Europe, APAC, South America, and MEA.
North America is currently the dominating region, occupying 36% of the global market share. Gifting and Thanksgiving celebrations form an inherent part of North American culture. The high popularity of the gifting culture in the region is encouraging many vendors to provide additional promotional offers to help their customers buy personalized gifts at lower costs. Furthermore, some vendors in the region are leveraging technologically advanced solutions for gift personalization. For instance, American Greetings uses 3D imaging to personalize its online greeting cards. Many such factors are increasing the growth potential of the market in North America.
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Market Dynamics
The personalized gifts market is expected to witness substantial growth during the forecast period, primarily due to the continuous development of new products. To meet the growing unique requirements of customers, vendors are developing new variants of personalized gifts that can be gifted on various occasions. For instance, in May 2021, American Greetings Corp. announced a multi-year, multi-artist partnership with Roc Nation. Through this partnership, the company will develop digital and physical products with the authentic voices of legendary artists, as well as the Roc Nation brand. The availability of products is encouraging customers to spend more on personalized gifting items, which is driving the growth of the market.
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Vendor Landscape
The personalized gifts market is fragmented due to the presence of several players and a few well-established players. The major market players are mainly focusing on developing innovative products for the customers. Some of the established vendors are acquiring smaller and regional players to help them expand their global reach. During the forecast period, the market will witness the entry of several new players, which will intensify the level of competition among the existing players.
Here are some of the products offered by key vendors:
American Greetings Corp.: The company offers a variety of greeting card bundles, greeting cards, stationery set of cards, boxed cards, and school valentine cards for occasions such as anniversaries, birthdays, congratulations, encouragement, friendship, get well, graduation, retirement, thank you, weddings and engagement.
Bed Bath and Beyond Inc.: The company offers personalized gifts such as wedding couple champagne flutes, personalized inspiring message navigator compass, My Photo Rubik's Cube, and more.
Card Factory Plc: The company offers personalized photo notebook, personalized love heart wine glass, personalized silver disc bracelet and more.
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Regional Analysis
Market Player Information
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Personalized Gifts Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2020 |
Forecast period |
2021-2025 |
Growth momentum & CAGR |
Accelerate at a CAGR of 7% |
Market growth 2021-2025 |
USD 11.19 billion |
Market structure |
Fragmented |
YoY growth (%) |
5.45 |
Regional analysis |
North America, Europe, APAC, South America, and MEA |
Performing market contribution |
North America at 36% |
Key consumer countries |
US, China, Germany, UK, Canada, and Japan |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
American Greetings Corp., Bed Bath and Beyond Inc., Card Factory Plc, Cimpress Plc, Corning Inc., Enesco LLC, Hallmark Licensing LLC, Personal Creations, Shutterfly Inc., and UncommonGoods LLC |
Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Table of Contents:
Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by Product
Market Segmentation by Distribution channel
Customer landscape
Geographic Landscape
Vendor Landscape
Vendor Analysis
Appendix
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