Personalized Gifts Market to Grow with a CAGR of 6.7% Globally through to 2028
Increasing consumer demand for unique and meaningful
gifts, growing popularity of online shopping are factors driving the global
personalized gifts market in the forecast period 2024-2028.
According to TechSci Research report, “Global Personalized
Gifts Market - Industry Size, Share, Trends, Competition Forecast &
Opportunities, 2028”, the Global Personalized Gifts Market stood at USD 26.3
billion in 2022 and is anticipated to grow with a CAGR of 6.7% in the forecast
period, 2024-2028. The personalized gifts market is a dynamic and rapidly
growing sector within the broader gifting industry. This market has witnessed
significant expansion over recent years, with consumers increasingly
gravitating towards unique and thoughtful gifting options that reflect the
individuality and personal connections they cherish.
he personalized gifts market is characterized by the
creation of unique and customized items that carry a sentimental value. These
gifts can range from engraved jewelry and monogrammed accessories to
custom-made photo books and personalized home decor. The market caters to a
wide array of occasions, including birthdays, anniversaries, weddings,
holidays, and corporate events, where individuals seek to express their
emotions, create lasting memories, and strengthen their relationships through
the gifts they give.
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Several key drivers fuel the growth of the
personalized gifts market. The first is the increasing demand for unique and
thoughtful gifting. As consumers look to move away from generic, mass-produced
gifts, personalized items have gained popularity. This shift is underpinned by
the desire to create one-of-a-kind gifts that reflect the recipient's
preferences, emphasizing individuality in a world of standardized products. The
integration of technological advancements and user-friendly customization tools
is another major driver. With the proliferation of online shopping, consumers
now have easy access to a wide range of personalized gift options. Online
marketplaces and specialized gift shops offer user-friendly customization
tools, intuitive design features, and the ability to preview the final product.
These advancements have eliminated barriers to entry and encouraged consumers
to explore personalized gift options.
Furthermore, the emotional value and personal
connection associated with personalized gifts are significant drivers of the
market's growth. When individuals receive a personalized gift, it is often
perceived as a demonstration of genuine thought and effort on the part of the
giver. The personalization process conveys a message of care and consideration,
which enhances the emotional value of the gift. The desire for meaningful
gifting experiences has led to consumers seeking out personalized gifts. Many
people aim to express their emotions, create lasting memories, and strengthen
their relationships through the gifts they give. Personalized items facilitate
these connections and enable the expression of love, appreciation, and
thoughtfulness.
The growing trend of self-expression and individualism
has played a crucial role in the surge of the personalized gifts market.
Consumers are increasingly looking to distinguish themselves and showcase their
unique identities. Personalized gifts offer an avenue for self-expression and
creativity, whether through customized fashion and accessories, home decor, or
technology accessories. This trend aligns with a broader movement towards
conscious consumerism, where individuals seek to express their personalities
and values through their purchases.
The Global Personalized Gifts Market is segmented into
type, end user, distribution channel, regional distribution, and company.
The personalized gifts market segmentation, based on
type, includes personalized clothing, chocolate platters, personalized
accessories, personalized diaries, desk accessories and others. The
personalized accessories segment held the majority share in 2022 in the
personalized gifts market data because there is a growing desire for
personalized presents and a variety of personalized accessories, which drives
manufacturers to create novel features.
Based on region, North America is dominating the
personalized gifts market and will continue to be owing to the earliest trend
of exchanging customized gifts. Asia-Pacific will continue to undergo
substantial gains during the forecast period and score the highest growth rate
owing to the rising awareness among the people regarding the benefits of
personalized gifts and improving personal disposable income.
Major companies operating in Global Personalized
Gifts Market are:
- AGC Inc.
- Hallmark
- Shutterfly, Inc.
- Marks and Spencer plc
- Zazzle Inc.
- Signature Gifts
- Etsy, Inc.
- Bed Bath & Beyond Inc.
- Enesco, LLC
- Uncommon Goods LLC
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“The personalized gifts market has witnessed
remarkable growth in recent years. Fueled by the desire for unique and
thoughtful gifting, the industry has expanded significantly. Advances in
technology, particularly the accessibility of user-friendly customization
tools, have played a pivotal role in driving this growth. Consumers
increasingly seek to create memorable experiences and express their emotions
through personalized gifts. Additionally, the market's ability to adapt to
emerging trends, such as eco-friendly and sustainable options, personalized
experiences, and augmented reality personalization, positions it for continued
expansion. The personalized gifts market is expected to thrive as it caters to
the ever-evolving demands of the modern consumer.,” said Mr. Karan Chechi,
Research Director with TechSci Research, a research-based management consulting
firm.
“Personalized
Gifts Market – Global Industry Size, Share, Trends, Opportunity, and Forecast,
Segmented By Type (Personalized Clothing, Chocolate Platters, Personalized
Accessories, Personalized Diaries and Desk Accessories, Personalized Photo
Frames, Others), By End User (Women, Men, Unisex, Kids), By Distribution
Channel (Offline, Online), By Region, By Competition, 2018-2028”,
has evaluated the future growth potential of Global Personalized Gifts Market
and provides statistics & information on market size, structure and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Personalized Gifts Market.
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