Gifts Novelty and Souvenirs Market by Product, Distribution Channel, and Geography - Forecast and Analysis 2021-2025
- Published: Apr 2021
- Pages: 120
- SKU: IRTNTR70510
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The gifts novelty and souvenirs market has the potential to grow by USD 11.88 billion during 2021-2025, and the market’s growth momentum will accelerate at a CAGR of 3.20%.
This gifts novelty and souvenirs market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by product (souvenirs and novelty items, seasonal decorations, greeting cards, and other gift items), distribution channel (offline and online), and geography (Europe, North America, APAC, South America, and MEA). The gifts novelty and souvenirs market report also offers information on several market vendors, including American Greetings Corp., Archies Ltd., Card Factory Plc, funkypigeon.com Ltd., Hallmark Licensing LLC, PersonalizationMall.com LLC, Redbubble Ltd., Scotts Highland Services Ltd., Spencer Gifts LLC, and The Walt Disney Co. among others.
What will the Gifts Novelty And Souvenirs Market Size be in 2021?
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Gifts Novelty And Souvenirs Market: Key Drivers and Trends
The technological advances leading to product innovation and premiumization is notably driving the gifts novelty and souvenirs market growth, although factors such as availability of alternate products for social expression may impede market growth. To unlock information on the key market drivers and the COVID-19 pandemic impact on the gifts novelty and souvenirs industry get your FREE report sample now.
Technological advances that lead to product innovation and premiumization is one of the major factors driving gifts novelty and souvenirs market growth. Consumers are increasingly looking for modern products that will suit the interior of the houses. This is encouraging vendors to invest in R&D and introduce advanced products to sustain in the market. The demand and preference for innovative products such as digital and illuminated photo frames as gifts and showpieces are increasing among customers, who are gradually increasing their spending on gifts, novelty, and souvenirs. Home décor products, seasonal decorations, photo frames and other gift items that can match the modern and contemporary interiors are some of the most commonly preferred gifts by consumers. This has propelled the demand for premium gift items driving market growth. With technological advancements leading to product innovation and premiumization, the sales of gifts and souvenirs will increase, driving gifts novelty and souvenirs market growth.
This gifts novelty and souvenirs market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. Get detailed insights on the trends and challenges, which will help companies evaluate and develop growth strategies.
Who are the Major Gifts Novelty And Souvenirs Market Vendors?
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
- American Greetings Corp.
- Archies Ltd.
- Card Factory Plc
- funkypigeon.com Ltd.
- Hallmark Licensing LLC
- PersonalizationMall.com LLC
- Redbubble Ltd.
- Scotts Highland Services Ltd.
- Spencer Gifts LLC
- The Walt Disney Co.
The gifts novelty and souvenirs market is fragmented and the vendors are deploying growth strategies such as product innovation and differentiation to compete in the market. Click here to uncover other successful business strategies deployed by the vendors.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
Download a free sample of the gifts novelty and souvenirs market forecast report for insights on complete key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Which are the Key Regions for Gifts Novelty And Souvenirs Market?
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35% of the market’s growth will originate from Europe during the forecast period. France, Germany, and the UK are the key markets for gifts novelty and souvenirs market in Europe. Market growth in this region will be slower than the growth of the market in North America, APAC, and MEA.
The rising demand for premium products and customized gifts will facilitate the gifts novelty and souvenirs market growth in Europe over the forecast period. To garner further competitive intelligence and regional opportunities in store for vendors, view our sample report.
What are the Revenue-generating Product Segments in the Gifts Novelty And Souvenirs Market?
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The demand for souvenirs and novelty items is growing along with evolving consumer buying pattern that includes occasion and theme-specific product purchases. The evolving customer purchase pattern has propelled vendors to introduce occasion and theme-based products. For instance, Hallmark Licensing offers gifts, cards, and ornaments, especially for occasions such as anniversaries, birthdays, engagements, friendship days, graduation, military appreciation, religious events, retirement, and gratitude. Moreover, the evolution of online shopping has a significant impact on the souvenirs and novelty items market segment growth.
Fetch actionable market insights on post COVID-19 impact on each segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the gifts novelty and souvenirs market size.
What are the Key Factors Covered in this Gifts Novelty And Souvenirs Market Report?
- CAGR of the market during the forecast period 2021-2025
- Detailed information on factors that will drive gifts novelty and souvenirs market growth during the next five years
- Precise estimation of the gifts novelty and souvenirs market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the gifts novelty and souvenirs industry across Europe, North America, APAC, South America, and MEA
- A thorough analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of gifts novelty and souvenirs market vendors
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Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
- Market size and forecast
- Market segmentation
- Geographical insights
- Competitive landscape
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Frequently Asked Questions?
- Technological advances leading to product innovation and premiumization
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