Gift Baskets Market Size, Share, Growth and Industry Analysis By Type (Birthday Gifts, Thank You Gifts, Well Soon Gifts, Festival Gifts, Anniversary Gifts, And, Others) By Application (Household, Commerce, And, Others) Regional Forecast From 2023 To 2030

Updated On: 22 April 2024

GIFT BASKETS MARKET REPORT OVERVIEW 

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The global gift baskets market size expanded rapidly in 2022. The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. As per our research, the market is projected to touch a massive valuation by 2028 at a robust CAGR during the forecast period. The sudden spike in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

A gift basket is basically a package of gifts which is delivered to the receiver either at their workplace or at their home. These gift baskets can contain combinations of several gifts. All the gifts are put together and are assembled in one basket. There are different varieties of gift baskets. Some can contain food items, whereas others can contain cosmetics, and so on.  

Most gift companies provide the option of customizing gift baskets. That is the buyer can add in products of his choice into the baskets that needs to be presented as a gift. Ordering can also be done online. This is considered as the latest trend in the market.   

These baskets can be used during many occasions like birthdays, farewell parties, weddings and many more. Key industry players are taking the initiative of promoting their products by making their brand attractive. All of these factors are prone to bring vast growth and development to the gift baskets market share.  

COVID-19 impact: Online Delivery of Gift Bakets During Pandemic Increased Market Growth

The pandemic of COVID-19 was the main reason for shift of most businesses to online mode. Due to lockdowns people found it highly inconvenient to travel out and get things they wanted. Online services were of great help to everyone during this time.

Almost all the services like food delivery, shopping, and even work could be conducted online. Similarly, many gift shops gave the option of shipping gift baskets to the place of the recipient. The only requirement of the customer was to order it online. This increased the convenience of sending gifts to people. As a result, the gift baskets market experienced steady growth amidst pandemic.

LATEST TRENDS

"Customization of Gift Baskets to Accelerate Market Growth"

Most of the gift shops provide an option of customizing the gift baskets according to the need of the customers. Things of the choice of customers can be included within these baskets. Availability of customization option is driving the growth of the market.

There are a variety of gift baskets available in shops. Some of them include fruit and dry fruit baskets, where as some could contain cosmetics and self-care products. The wide range of options given to the customers is another advantage of gift baskets. Online service is also available in most of the gift stores. The customer can place his order with just a click of his finger. This is considered as the latest trend in the market.

GIFT BASKETS MARKET SEGMENTATION

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• By Type:

The market can be divided on the basis of type into the following segments:

Birthday gifts, thank you gifts, well soon gifts, festival gifts, anniversary gifts, and, others. The birthday gifts segment is anticipated to dominate the market during the forecast period.

• By Application:

Classification based on application into the following segment:

Household, commerce, and, others. The household segment is predicted to dominate the market during the research period.

DRIVING FACTORS

"Growing Popularity of Traditions Like Thanksgiving to Amplify Market Growth"

Many European cultures like thanksgiving have become very popular in the recent time. These are celebrated by people all over the world. With growing popularity of such traditions, the demand for gift baskets is also increasing. Due to busy schedules when family members are not able to gather together for such occasions most of them prefer to send gift baskets to others along with a note. 

Gifts baskets are not just limited for occasions like thanksgiving but they are used in weddings, parties, proms, Easter, Christmas and during several other occasions. Picking out gifts by going to the stores can be difficult task to some people due to time constraints. Availability of gift baskets will make the job of such people easier. All of these factors are propelling the market growth.

"Branding Strategies Used by Key Industry Players to Propel Market Growth "

Branding plays a very important role, when it comes to promoting any product. Key industry players are implementing several branding strategies in the gift basket market to attract customers to buy these. Packaging of these products are made very colorful and appealing so that they can catch the eyes of the customers.

Numerous deals as well as offers are given to the customers on many gift baskets especially during any special occasions. Discounts are given to people buy often from a particular store. Buy one get one free strategy is used to promote the market growth.  All of these factors are prone to develop the gift baskets market. 

RESTRAINING FACTOR

"High Cost of Gift Baskets to Bring Down Market Growth"

Usually, gift baskets are viewed as a symbol of brand, status, and luxury. Therefore, many companies fix the price of such gifts at a high level. This aspect of gifts can hinder the market growth. Most of the times these gifts can only be afforded by certain people and hence they are not accessible to a lot of people. 

This in turn can decrease the demand for gift basket. Rather than the gift, packaging of the basket is given more focus. The quality of the gifts can also vary and they may not reach the expectations of the customers causing dissatisfaction among them. All of this can hamper the market growth.

GIFT BASKETS MARKET REGIONAL INSIGHTS 

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"North America to Dominate Market in Upcoming Years"

North America is forecasted to occupy majority of the market share during research period. This development can be attributed to the growing practice to giving gifts to people in this region.

Most of the places in North America celebrate occasions and festivals like Christmas, easter, thanksgiving, wedding, anniversaries, and parties by mandatorily giving presents. However, due to changing lifestyle and workload of people, they are not getting time to select gifts. Gift baskets are very useful in such situations as they can be customized and ordered online as well. All of these factors are propelling market growth in North America.

Key Industry Players

"Leading Players adopt Acquisition Strategies to Stay Competitive "

Several players in the market are using acquisition strategies to build their business portfolio and strengthen their market position. In addition, partnerships and collaborations are among the common strategies adopted by companies. Key market players are making R&D investments to bring advanced technologies and solutions to the market.

List of Market Players Profiled

• British Hamper Company (U.K.)
• Geschenk & Korb (Germany)
• Walwater (Slovakia)
• German Food Box (Germany)
• David’s Cookies, Inc. (U.S.)
• BienManger (France)
• Dolceterra  (Italy)
• Dan the Sausageman (U.S.)
• Harry & David (U.S.)
• Williams Sonoma (U.S.)
• Gustiamo (U.S.)
• Broadway Basketeers (U.S.)
• Olive & Cocoa, LLC (U.S.)
• Omaha Steaks (U.S.)
• Hickory Farms (U.S.)

Report Coverage

The report provides an insight into the industry from both the demand and supply sides. Further, it also gives information on the impact of COVID-19 on the market, the driving and the restraining factors along with the regional insights. Market dynamic forces during the forecast period have also been discussed for the better understanding of the market situations.