Personalized Gifts Market Size, Share, Growth, and Industry Growth by Type (Non-photo Personalized Gifts and Photo Personalized Gifts) By Application (Offline Distribution Channel and Online Distribution Channel), Regional Insights, and Forecast To 2031

Updated On: 08 April 2024

Personalized Gifts Market REPORT OVERVIEW

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The global personalized gifts market size was USD 30140 million in 2022 and market is projected to touch USD 54154.3 million by 2031, at a compound annual growth rate (CAGR) of 6.7% during the forecast period.

Personalized gifts are customized gifts. The gifts are chosen particularly to the person’s interest, and they are creative and unique.

The factors predicted to boost market growth are consumer inclination towards customized gifts and increased digitalization, increasing adoption of the Internet of Things (loT), growing customer shift from traditional gifts to personalized gifts, and an increasing need to celebrate every occasion. Further, the increased trend of gift exchange and a rise in demand for 3D-printed gifts. Increase in the consciousness of individuals to gift handmade presents to their family, friends, and relatives. In addition, the expansion of parties and celebrations coupled with improved living standards are predicted to fuel market growth in the upcoming years. On the contrary, high costs and a lack of strong distribution networks in the backward region are predicted to limit market growth scope.

COVID-19 Impact: Social Distance Protocols and Lower Demand for Gifts to Limit Market Progress

The rapid spread of Coronavirus disease restricted people gathering and celebrations. Strict government regulation for social distance and lockdown minimized market growth. Lower demand for gifts and strict protocols for zero contacts impacted market progress. Further, the closure of small & large-scale business hamper market growth. The shutdown of manufacturing units and less need for celebrating events to control the spread of the virus. These factors are witnessed to hamper market growth during the pandemic period.

LATEST TRENDS

"Rapid Development of New Products to Surge Market Progress"

The continuous development of the new product to attract more customers and increased research studies to make unique gift products is anticipated to surge market progress. A rise in the youth population and increased awareness about customized gifts are predicted to drive market growth. The gifts are easy to replace and have an extended warranty. Further, these gifts ensure high quality and easy door-step delivery is predicted to fuel market growth. Increased millennial populations and growing trends to exchange gifts are projected to expand market growth. The gifts are extensively used for weddings, anniversaries, and birthday gifts. These factors are predicted to fuel market growth in the projected years. Increased partnerships and supporting small business is estimated to expand market growth.  

Personalized Gifts Market SEGMENTATION

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• By Type

Based on type, the market is divided into non-photo personalized gifts and photo personalized gifts.

• By Application

Based on the application, the market is divided into offline distribution channel and online distribution channel. 

online distribution channel is expected to be the top part of application segmentation.

DRIVING FACTORS

"Rapid Digitalization and Increased Penetration of Smartphones to Fuel Market Growth"

Rapid digitalization and increased penetration of smart phones are anticipated to accelerate market growth. The gifts are easily available online and have multiple options for customizing gifts. The gifts are unique and make the moments or celebrations more memorable. The gifts are made of some personal photos, and increased demand for printed cushions, coffee mugs, and picture frames. A rise in the need for handmade gifts and an expansion of gift trades between buyers are predicted to drive market growth. Increased preference for eco-friendly and 3D printings gifts. These factors are predicted to drive market growth in the forthcoming years. Increased use of smartphones and rapid demand for online products is estimated to fuel market growth. Growing collaboration and free product promotion in movies, series, and other digital platforms are projected to fuel market growth.

"Increased Spending Capacity and Expansion of Social Media Platforms to Foster Market Growth"

Increased spending capacity and expansion of social media platforms are anticipated to exhibit market growth. With the help of social media marketing and easy doorstep delivery is predicted to increase the sale of the product. Further, increased disposable income and easy availability of the product online and offline are projected to surge market growth. Increase in the consciousness of individuals to gift handmade presents to their family, friends, and relatives. In addition, the expansion of parties and celebrations coupled with improved living standards are predicted to fuel market growth in the upcoming years.

RESTRAINING FACTORS

"High Cost and Lack of Strong Distribution Channels to Obstruct Market Progress "

High costs and a lack of strong distribution networks in the backward region are predicted to limit market growth scope. Also, the seasonal nature of certain customized gifts to reduce market growth in the upcoming years.

Personalized Gifts Market REGIONAL INSIGHTS

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"Improved Living Standards in North America to Drive Market Share "

North America is anticipated to account for the personalized gifts market share due to the increased penetration of e-commerce platforms. Improved living standards and a growing preference for eco-friendly handmade gifts are anticipated to accelerate market growth. Growing customer shift from traditional gifts to personalized gifts, and increasing need to celebrate every occasion. Further, the increased trend of gift exchange and a rise in demand for 3D-printed gifts. These factors are anticipated to drive market growth in the region.

KEY INDUSTRY PLAYERS

"Leading Players Adopt New Strategies to Stay Competitive"

The report covers information about the list of market players and their latest development in the industry. The information includes mergers, partnerships, acquisitions, technological developments, and production lines. Other aspects examined for this market include complete research on companies producing and introducing the latest products, regions they conduct their operations in, automation, technology adoption, generating the most revenue, and making a difference with their products.

List of Market Players Profiled

• CafePress (U.S.)
• Things Remembered (U.S.)
• Cimpress (Australia)
• Getting Personal (U.K.)
• Personalization Mall (U.S.)
• Disney (U.S.)
• Funky Pigeon (U.K.)
• American Stationery (U.S.)
• Hallmark (U.S.)
• Memorable Gifts (U.S.)
• Etsy (U.S.)
• Redbubble (Australia)
• Signature Gifts (U.K.)
• The Original Gift Company (U.K.)      
• Zazzle (U.S.)
• Personalized Gift Shop

REPORT COVERAGE

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