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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 13,011.27 million. The growth of the market depends on several factors, including the continuous development of new products, the rising demand for 3D-printed personalized gifts, and the growing popularity of private-label brands.
This report extensively covers market segmentation by distribution channel (online and offline), product (non-photo personalized gifts and photo personalized gifts), and geography (APAC, North America, Europe, Middle East, and Africa, and South America). 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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The continuous development of new products is notably driving the personalized gifts market growth, although factors such as the seasonal nature of the market may impede the market growth. Our researchers studied the data for years, with 2022 as the base year and 2023 as the estimated year, and presented the market's key drivers, trends, and challenges. Although there has been a decrease in demand for the market during the COVID-19 pandemic, a holistic analysis of drivers will help companies refine marketing strategies to gain a competitive advantage.
Key Personalized Gifts Market Driver
The continuous development of new products is notably driving the personalized gifts market growth. Vendors operating in the market are focusing on expanding their product lines by launching new variants of personalized gifts. They are also trying to develop new products with innovative personalization options to meet the unique needs of their customers. Furthermore, vendors are also trying to offer new products that can be gifted during various festivals or occasions. Thus, the increasing availability of new types of personalized gifts will encourage more customers to buy them.
In May 2021, American Greetings Corp. announced a multi-year, multi-artist partnership with Roc Nation, which includes digital and physical products developed in collaboration with the authentic voices of legendary artists, as well as the Roc Nation brand. Hence, the increasing availability of new variants of personalized gifts will lead to increased sales and, thereby, drive the growth of the global personalized gifts market during the forecast period.
Key Personalized Gifts Market Trend
Expansion activities by vendors offering personalized gifts are a key trend in the market. The growing popularity of personalized gifts among end-users will encourage vendors to adopt strategies to increase the reach and sales of their products. Hence, to meet the growing end-user demand, vendors are focusing on increasing sales and customer base through expansions. They are expanding by opening new retail outlets, establishing an online presence, and entering into agreements with various online and offline retailers.
Some of the vendors are also trying to expand company-owned retail stores. Such expansion plans of vendors offering personalized gifts will increase the availability of these products at more locations and increase their sales, which will lead to the accelerated growth momentum of the market during the forecast period.
Key Personalized Gifts Market Challenge
The seasonal nature of the market may impede the personalized gifts market growth. The purchasing patterns for personalized gifts can vary among customers based on the occasion or the festive season. Therefore, based on the season and the occasion, market vendors need to update their existing personalized gift portfolios or develop new products in their personalized gift product lines. Also, the sales of these personalized gift products reach a peak only during certain times of the year, which are limited. Hence, vendors need to maintain sufficient stocks of personalized gifts or have a proper place or facility where they can personalize gifts within a limited time. However, the supply of personalized gifts can be higher than the demand due to a supply-demand gap. This can lead to an oversupply of personalized gifts in the market in focus.
Vendors operating in the personalized gifts market need to maintain an optimum inventory level to meet the demand for personalized gifts. Issues associated with the seasonal nature of gifts, including personalized gifts, may negatively affect the potential profitability of vendors and hinder the growth of the global personalized gifts market during the forecast period.
Key Personalized Gifts Market Customer Landscape
Our analysis of the lifecycle of the market indicates a movement from the innovator’s stage to the laggard’s stage. Technavio has included key purchase criteria, adoption rates, adoption lifecycles, and drivers of price sensitivity to help companies evaluate and develop growth strategies from 2022 to 2027.
Global Personalized Gifts Market Customer Landscape
Vendors 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
Americangreetings- The company offers personalized gifts such as eCards and Creatacards.
We also have detailed analyses of the market’s competitive landscape and offer information on 20 market vendors, including :
Qualitative and quantitative analysis of vendors 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 vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth by the online segment will be significant during the forecast period. The online distribution channel has been significantly fueling the growth of the global personalized gifts market over the last decade. E-commerce enables customers to access regional and global brands of personalized gifts. The significant rise in the number of e-commerce vendors across the world is fueled by the increased global penetration of smartphones. Brand-owned online formats and pure-play e-retailers are among the various types of e-commerce portals that offer personalized gifts. With the growing trend of online retailing, especially in developing countries, the sales of personalized gifts through this channel are expected to increase significantly during the forecast period.
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The online segment showed a gradual increase in market share with USD 12,051.87 million in 2017 and continued to grow by 2021. The online distribution channel allows vendors to offer considerable discounts on personalized gifts directly to customers, as it eliminates the costs associated with the operation of physical stores and the physical merchandising of personalized gifts. Although offline distribution channels remain the key sales channels for personalized gifts, online distribution channels are predicted to witness rapid growth during the forecast period. Competitively priced offerings and quick delivery services are the major factors for the growth of the segment. Furthermore, our report provides a brief analysis of the historical and forecast market share and their segments along with the reasons for growth from 2017 to 2027.
The growth of this segment is primarily attributed to the increasing adoption of personalized gifts, which is driven by an increase in the global demand for personalized gifts.
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North America is projected to account for 32% of market growth by 2027. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
The gifting culture is widespread in North America. For instance, in the US, the traditional holiday season (that extends from Thanksgiving to Christmas and New Year) is considered the main gifting season. Certain vendors that offer personalized gifts also try to provide additional promotional offers to help their customers buy personalized gifts at lower costs. Furthermore, some of the vendors in the region use technologically advanced solutions for gift personalization. Therefore, by integrating innovative technologies, vendors can increase their sales, which, in turn, will fuel market growth.
This report forecasts the contribution of all the segments to the growth of the market. In addition, we have included the COVID-19 impact and the recovery strategies for each segment. The personalized gifts market in North America was negatively affected in 2020 due to the outbreak of COVID-19. The outbreak compelled the governments of several countries in the region to impose nationwide lockdowns. However, in 2021, the regional economy recovered with the expanding vaccination coverage, which will have a positive impact on the regional market during the forecast period.
Technavio categorizes the global personalized gifts market as a part of the global personal products market within the global household and personal products market. The parent market, the global personal products market, covers products and companies engaged in research and development (R&D) and the production of personal and beauty care products, including cosmetics and perfumes. Technavio calculates the global household and personal products market size based on the combined revenue generated by manufacturers of these products. Our research report has extensively covered external factors influencing the parent market growth during the forecast period.
Our report forecasts revenue growth at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. The market has been segmented by distribution channel, product, and region.
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Personalized Gifts Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2022 |
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Historical year |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 7.85% |
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Market growth 2023-2027 |
USD 13,011.27 million |
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Market structure |
Fragmented |
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YoY growth (%) |
6.85 |
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Regional analysis |
North America, Europe, APAC, South America, and the Middle East and Africa |
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Performing market contribution |
North America at 32% |
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Key consumer countries |
US, Canada, China, Germany, and UK |
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Competitive landscape |
Leading companies, Competitive Strategies, Consumer engagement scope |
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Key companies profiled |
American Greetings Corp., American Stationery Co. Inc., Bed Bath & Beyond Inc., Card Factory Plc, Chococraft Creations Pvt. Ltd., Cimpress Plc, Dezains Inc., Enesco LLC, Etsy Inc., Fat Brain Toys LLC., Ferns N Petals Pvt. Ltd., funkypigeon.com Ltd., Godiva Chocolatier Inc., Hallmark Card Inc., manuBIMsoft Ltd., My Pet Gift Box Ltd, Personal Creations, Shutterfly Inc., UncommonGoods LLC, and Zazzle Inc. |
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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. |
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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. |
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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 Distribution Channel
7 Market Segmentation by Product
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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