The gifts novelty and souvenirs market size to grow by USD 13.73 billion from 2022 to 2027; The market is fragmented due to the presence of prominent companies like American Stationery Co. Inc., Archies Ltd., Card Factory Plc, and many more - Techanvio

NEW YORK, Nov. 26, 2023 /PRNewswire/ -- The gifts novelty and souvenirs market is estimated to grow by USD 13.73 billion from 2022 to 2027, growing at a CAGR of 3.4%. The gifts novelty and souvenirs market is fragmented owing to the presence of many global and regional companies. A few prominent companies that offer gifts novelty and souvenirs market are Alibaba Group Holding Ltd., American Greetings Corp., American Stationery Co. Inc., Archies Ltd., Card Factory Plc, Cimpress Plc, Consortium Gifts Pvt Ltd, Enesco LLC, Ferns N Petals Pvt. Ltd., funkypigeon.com Ltd., Hallmark Card Inc., Memorable Gifts, PersonalizationMall.com LLC, Redbubble Ltd., Scotts Highland Services Ltd, Shutterfly Inc., Signature Gifts Inc, Sixty Stores Ltd., Target Corp., and Zazzle Inc. The report provides a full list of key companies, their strategies, and the latest developments. Download Sample before buying

Company Offering:

• American Stationery Co Inc - The company offers gifts novelty and souvenirs such as gifts cards, embroideries, and frames.
• Archies Ltd - The company offers gifts novelty and souvenirs such as personalized cards, mugs, and photoframes.
• Card Factory Plc - The company offers gifts novelty and souvenirs such as scented candles, chocolates and sweets, and cushions.
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By Geography, the market is classified as Europe, North America, APAC, South America, and Middle East and Africa. Europe accounts for 36% of market growth. The UK, France, Italy, Spain, and Germany have the highest demand for luxury goods and personalized gifts in Europe. Also, the growth of the market is enhanced by an early entry into e-commerce markets in this region. An important market effect is also created by the increase of e-commerce in gift retailing.

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• Impactful driver- Technological advances leading to product innovation and premiumization
• Key Trend - Increased demand for personalized gift products
• Major Challenges - The highly complex inventory, supply chain, and merchandising management

 Market Segmentation

• By Product, the market is classified into souvenirs and novelty items, seasonal decorations, greeting cards, and giftware, and others. The souvenirs and novelty items segment is estimated to witness significant growth during the forecast period. Souvenirs and novelties are frequently given as gifts. They've been accustomed to cherishing rare moments, places, and memories. The demand for souvenir and novelty items is on an upward trend, in line with the evolution of consumer shopping patterns that include special occasions and themes.

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Related Reports:

• The personalized gifts market is estimated to grow at a CAGR of 7.85% between 2022 and 2027. The size of the market is forecast to increase by USD 13011.27 million. 
• The gift card market is estimated to grow at a CAGR of 12.87% between 2022 and 2027. The size of the market is forecast to increase by USD 843.11 billion. 

TOC:

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 Company Landscape

12 Company Analysis

13 Appendix

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SOURCE Technavio