Executive Gift Market Size, Share, Growth, And Industry Analysis, By Type (Souvenir, Propaganda and Employee Benefit), By Application (Large Enterprises, Small and Medium-sized Enterprises (SMEs)), Regional Forecast From 2024 to 2031

Updated On: 15 April 2024

Executive Gift Market Report Overview

• 

• Request a Free Sample to learn more about this report

The global executive gift market size expanded rapidly in 2021, as per our research, the market is expected to generate substantial revenue by 2031, exhibiting a high CAGR during the forecast period.

The global COVID-19 pandemic has been unprecedented and staggering, with the executive gift market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

High-ranking executives within a firm or organization frequently receive executive gifts, which are a form of business gift. Executive gifts can be used to improve relationships between subordinates and superiors and are frequently chosen for their power to express respect and appreciation. Popular executive gift ideas include high-end equipment, exquisite wine, and opulent timepieces. A corporate gift is any gift offered by an organization to its clients or employees.

Whether presented internally or externally, corporate gifts are always given according to the correct etiquette, which differs based on the relationship between the giver and the recipient. Corporate gifting is important since it will help your business grow. It accomplishes this primarily through four means: It will boost employee attitudes, increase consumer brand recognition, generate customer leads, and boost customer loyalty. Divided into gifts for employees and gifts for clients, which are the two categories of corporate gifting.

The market expansion is driven to the rising demand for promotional and memento gifts from SMEs and major corporations worldwide. The rising tendency of giving away staff benefits is also boosting this market's expansion. Type, application, and geography are the possible segments for the worldwide executive gift market. It can be categorized into mementos, presents for propagandist purposes, and gifts for staff benefits. Due to its widespread consumer acceptance and capacity to increase brand awareness, the souvenir category is anticipated to dominate the market throughout the forecast period. It can be divided into major enterprises, small and medium-sized enterprises (SMEs), and other government organizations depending on the application.

COVID-19 Impact: Reduced Revenue Objectives to Hinder Market Growth

There is no doubt that the epidemic has been difficult for companies in the consumer goods sector in some way. Significantly, supply chain interruptions have popped up all over the world, forcing organizations to lower revenue objectives. Most of this is due to COVID-19's hastened transition to a mostly online environment. Businesses have to adapt their product offerings and implement digital-first strategies. Businesses that never imagined going online must suddenly do so. While some retailers were ready with an established online presence to face this new reality, others struggled. In reality, the whole consumer goods business has been pushed into the digital age. It's obviously beneficial for individuals who have a limited cash flow.

Latest Trends

"Marketing Campaigns of The Product to Propel Market Growth"

Dissemination of information through non-commercial media with the intention of advancing a specific political cause or spreading a message is known as propaganda. The word has Latin roots and originally meant to spread widely, which is why it is often used to describe marketing campaigns. Propaganda can be overt or covert, visible or invisible, organized or unorganized. It can appear in a variety of media, such as audio and video recordings, printed materials, posters, and periodicals.

Executive Gift Market Segmentation

• 

• Request a Free Sample to learn more about this report

• By Type Analysis

According to type, the market can be segmented into souvenir, propaganda and employee benefit.

In terms of product, employee benefit is the largest segment.

• By Application Analysis

Based on application, the market can be divided into large enterprises, small and medium-sized enterprises (SMES).

In terms of application, large enterprises is the largest segment.

Driving Factors

"Businesses to Support Market Growth of The Executive Gifts"

The segment of major businesses held the largest share. Big businesses are more likely to have official gift policies because they may provide their staff with a range of advantages, including monetary and non-monetary rewards for taking part in company events like team-building exercises or business trips. These kinds of initiatives can help businesses establish a positive reputation with customers, which is anticipated to fuel the expansion of the executive gift industry globally throughout the forecast period. The adoption of small and medium-sized businesses (SMEs) is expected to increase due to the flexible work environments that exist in developing nations, making this sector one of the fastest-growing market segments.

"Trend Of Gifting in Corporate World to Promote Market Growth"

When gift ideas for corporate clients and workers are properly considered, they increase an individual's sense of being appreciated by the organization. For clients, it is putting a monetary value on their company. Recognizing employees' efforts and service as a job well done. Because of the extrinsic motivation you've supplied, they may even do better at their job. This is especially true when it comes to bespoke business presents, since the personalization component heightens the sense that something has been tailor-made specifically for an employee. If you've ever wanted your employees to feel more connected and a part of your team, offering them gift ideas for corporate customers is the way to go.

Restraining Factors

"Increased Cases of Bribery to Impede Market Expansion"

While gift giving is a traditional way of expressing gratitude, it is also related with reciprocity. As a result, an overly generous business gift may be interpreted as more than just kindness and instead as an attempt to acquire favor. This is a fine line to walk. In reality, certain businesses and all federal agencies in the United States have severe laws against taking presents from business associates.

Executive Gift Market Regional Insights

• 

• Request a Free Sample to learn more about this report

"North America to Dominate the Market Due to Foreign Direct Investments"

The global executive gift market share was controlled by North America. For the course of the projected period, the region is anticipated to maintain its supremacy. This is due to an increase in foreign direct investments made by businesses from developing nations like China and India, which has resulted in a rise in demand for gifts originating from these nations. Furthermore, it is projected that regional expansion would be fueled by the increased popularity of corporate giving choices among SMEs due to their affordability and customization possibilities during the forecast period.

Key Industry Players

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

List of Market Players Profiled

• Happy Worker Inc (Canada)
• PromoPros (China)
• Pujiang E-Thing Craft Co., Ltd. (China)
• Golden One Co., Ltd. (U.S.)
• LION PROMOTIONAL GIFT CO., LIMITED (China)
• TOGO GROUP CO., LIMITED (U.S.)
• Xiamen Le Young Industry Co., Limited (China)

Report Coverage

This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, etc. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.