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The non-photo personalized gifts market size is estimated to grow at a CAGR of 8.87% between 2023 and 2027. The market size is forecast to increase by USD 9,127.68 million. The growth of the market depends on several factors such as the growing gifting culture and increasing demand for seasonal decorations, the growing organized retail in emerging countries, and the growing popularity of private-label brands.
This non-photo personalized gifts market report extensively covers market segmentation by distribution channel (online and offline), type (wearables and accessories, decoration, kitchenware and tableware, stationery and greeting cards, and others), and geography (North America, Europe, APAC, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The growing organized retail in emerging countries is driving growth in the non-photo personalized gifts market. With the expansion of supermarkets, hypermarkets, and specialty stores, there is a marked increase in organized retailing around the world. Non-photo personalized gifts such as kitchenware, tableware, stationery, and greeting cards are primarily sold by established organized retailers.
However, organized retailers provide consumers with convenience and value for money. A lot of gifts are available in organized retail stores, making it possible for the visitor to choose from a variety of options. A large number of consumers across the globe prefer shopping through supermarkets and hypermarkets, further increasing the importance of organized retailers among companies. Growing organized retailing in emerging countries will, thus, drive the market for non-photo personalized gifts during the forecast period.
Innovations in the personalization of gifts are a key trend in the non-photo personalized gifts market. To increase the acceptance and sales of non-photo personalized gifts, suppliers operating in target markets are offering a higher level of personalization. Vendors are increasingly focusing on enhancing the customer experience during the personalization of product orders by integrating innovative technologies.
Moreover, artificial intelligence is also becoming more and more important for some retailers on the market which are trying to help customers discover their perfect gift. Some of the vendors operating in the market in focus are adopting an in-store gift personalization strategy. Such innovations in the non-photo personalization of gifts will increase their sales and thereby accelerate the growth momentum of the market during the forecast period.
The growing competition from homemade and DIY gifts is a major challenge in a non-photo personalized gifts market challenge. Individuals can make DIY non-photo personalized gifts and give them to the targeted end-users. They are also capable of adapting the gifts according to their creativity and ideas in order to achieve a higher level of attractiveness and efficiency for receivers. People can get ideas to personalize their gifts from various online platforms, such as YouTube tutorials and social media, and create them on their own.
Also, sometimes, individuals may not be able to find the desired gift for the receiver either in offline or online stores. Hence, they're able to choose from the DIY versions and create their own gifts that would be more charming and useful for the recipient. Hence, the growing inclination for DIY, homemade non-photo personalized gifts will have a negative impact on sales and thereby hinder the potential growth of the global non-photo personalized gifts market during the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Non-photo Personalized Gifts Market Customer Landscape
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 non-photo personalized gifts such as birthday ecards, smashUps, anniversary ecards, and gift cards.
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 online segment is estimated to witness significant growth during the forecast period. The online distribution channel, also known as e-commerce, has been significantly fueling the growth of the global non-photo personalized gifts market over the last decade. E-commerce opens the door to customers accessing national and global brands of non-photo personalized gifts.
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The online segment was the largest segment and was valued at USD 7,216.59 million in 2017. E-commerce platforms offer personalized shopping assistance, along with suggestions on different types of non-photo personalized gifts to customers, based on aspects such as the type, customization, and designs of non-photo personalized gifts. Certain new online stores that entered the worldwide market for non-photo personalized gifts have been encouraged to do so by increasing demand for personalized gifts.
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North America is estimated to contribute 41% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The market in North America is expected to grow at a moderate rate during the forecast period. There is a near maturity in the region's traditional gifts market, and so it is now receiving an influx of exciting new products. Increased sales of non-photo personalized gifts, such as greeting cards, souvenirs, and decorative products, fuel market growth because of the high penetration of these products in occasional giftings.
Moreover, home furnishings and home decor are popular as high-end gifts. Early adoption of the Internet and the high penetration of social media have also propelled the growth of the market in focus in the region. The key contributing countries in the region are the US, Canada, and Mexico. The growing inclination for e-cards may affect the sales of non-photo personalized greeting cards in the region and thereby hinder the potential growth of the market in North America during the forecast period.
The COVID-19 pandemic in 2020 had a significant impact on the regional non-photo personalized gift market in North America. However, the government's initiation of a massive vaccination drive in 2021 helped in the reduction of COVID-19 cases and also resumed supply chain operations. Online shopping increased as a result of the pandemic, and this pattern is anticipated to persist in the post-pandemic age. The popularity of non-photo personalized gifts such as engraved products and made-to-order items continues to be very popular regardless of whether photo-personalized gifts are more prevalent. The state of the economy in North America is improving, which increases disposable money and gift-giving, which, in turn, will increase the growth of the regional non-photo personalized gifts market during the forecast period.
The non-photo personalized gifts market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Non-photo Personalized Gifts Market Scope |
|
Report Coverage |
Details |
Page number |
172 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 8.87% |
Market growth 2023-2027 |
USD 9,127.68 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
8.47 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 41% |
Key countries |
US, Canada, China, Germany, and the UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
American Greetings Corp., American Stationery Co. Inc., Bed Bath and Beyond Inc., Card Factory Plc, Chococraft Creations Pvt. Ltd., Cimpress Plc, Etsy Inc., Ferns N Petals Pvt. Ltd., funkypigeon.com Ltd., Hallmark Card Inc., manuBIMsoft Ltd., Redbubble Ltd., Shutterfly Inc., Signature Gifts Ltd., Sixty Stores Ltd., Takara Tomy Co. Ltd., UncommonGoods LLC, Walmart Inc., Yildiz Holding AS, and Zazzle Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the 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. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Distribution Channel
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
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.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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