India Gifting Market to Grow with a CAGR of 3.55% through 2030F
The India Gifting Market is
expanding due to rising disposable incomes, increasing social occasions, and
changing consumer preferences, with a growing demand for personalized, premium,
and unique gifting options.
According
to TechSci Research report, “India Gifting Market – By Region, Competition Forecast & Opportunities, 2020-2030F”, India Gifting Market was valued at USD
75.16 Billion in 2024 and is expected to reach USD 92.32 Billion by 2030 with a
CAGR of 3.55% during the forecast period. The India Gifting Market has witnessed remarkable growth
in recent years, driven by cultural traditions, economic progress, and evolving
consumer preferences. Gifting has been an integral part of Indian culture for
centuries, with people regularly exchanging gifts during festivals, weddings,
birthdays, and other significant occasions. Over the years, the market has
diversified to cater to a wider range of gifting options, such as luxury goods,
personalized items, experiences, and eco-friendly products. Economic growth,
increased disposable incomes, and the rise of digital platforms have further
boosted this sector. Today, the India gifting market is not only about
exchanging material gifts but also about creating personalized, meaningful
experiences, making it a thriving segment in the broader retail market.
The major contributors to the growth of
the gifting market in India is the rising disposable income, especially among
the urban middle and upper-middle classes. As India’s economy expands, more
people are able to spend on discretionary items, including gifts. With a large
and growing middle-class population, the demand for a wide range of gifting
options, from traditional items like clothing and sweets to modern gadgets and
luxury products, has surged. Urbanization has further propelled this trend,
with the younger population increasingly inclined towards spending on
experiences or premium gifts. The availability of gifts across various price
points caters to diverse segments of society, from budget-conscious individuals
to those willing to spend on high-end, personalized gifts. This growing
purchasing power has expanded the market for both personal gifting and
corporate gifting, with individuals and businesses alike eager to enhance
relationships through thoughtful presents.
Cultural and religious celebrations are
another critical driver for the gifting market. India is a land of festivals,
with each region celebrating a variety of religious and cultural events
throughout the year. Major festivals such as Diwali, Eid, Christmas, Raksha
Bandhan, and Pongal, among others, often involve elaborate gift exchanges as a
symbol of love, respect, and good fortune. These cultural occasions provide a
significant opportunity for gifting, driving demand for products such as
clothes, jewelry, home decor, sweets, and electronics. Beyond personal gifting,
corporate gifting has also grown during these festivals, with businesses
offering gifts to clients, employees, and partners as a means to strengthen
relationships and enhance brand loyalty. The cyclical nature of these festivals
ensures consistent demand for gifts, creating a stable market environment and
offering companies a chance to develop seasonal marketing campaigns around key
gifting occasions. The rapid rise of e-commerce has drastically transformed the
India gifting market, making it more accessible and convenient. Online shopping
platforms like Amazon, Flipkart, and niche gifting websites have broadened the
spectrum of gift options, making it easier for consumers to browse, compare, and
purchase gifts. E-commerce has particularly gained traction in urban centers,
where busy lifestyles and limited time often drive people to opt for online
shopping instead of traditional brick-and-mortar stores. The convenience of
home delivery, a variety of payment options, and the ability to shop from a
wide array of gift categories have made online gifting increasingly popular.
Browse
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"India Gifting Market”
The India
Gifting Market is segmented into purpose, type, sales channel and
region.
Based
on type, E-gift vouchers have emerged as the fastest-growing
segment in the India gifting market. Driven by the rise of digitalization and
changing consumer preferences, e-gift vouchers offer convenience, flexibility,
and the ability to instantly send gifts across geographic boundaries. With
growing penetration of smartphones and internet access, consumers are
increasingly opting for digital gifting solutions. E-gift vouchers cater to a
wide range of occasions, from birthdays and weddings to festivals and corporate
gifting. The popularity of platforms like Amazon, Flipkart, and various niche
e-gifting sites has further accelerated this trend, making e-gift vouchers an
essential part of modern gifting.
Based
on region, North region of India is rapidly emerging as the fastest-growing
market in the gifting sector. States like Delhi, Punjab, Haryana, and Uttar
Pradesh are witnessing a surge in disposable incomes, urbanization, and
changing consumer preferences, which are driving the demand for both personal
and corporate gifts. Festivals, weddings, and cultural celebrations play a
pivotal role in boosting gifting activities in this region. Additionally, the
increasing adoption of e-commerce platforms, along with the growing popularity
of personalized and experiential gifts, has further fueled the market growth.
This region’s dynamic economic growth and evolving trends position it as a key
driver in the gifting market.
Major companies
operating in India Gifting Market are:
- Archies
Limited
- Ferns N Petals Pvt Ltd.
- Miniso Life Style Private Limited
- Sparket Marketing Pvt Ltd
- Bansal Importer Pvt. Ltd. (Beccos)
- FA Gifts Private Limited (FlowerAura)
- Hallmark India Pvt. Ltd.
- Chumbak Design Pvt. Ltd.
- Join Ventures Private Limited (IGP)
- GiftstoIndia24x7.com
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“The India gifting market is poised for
continued growth driven by a combination of cultural traditions, economic
development, and evolving consumer preferences. The increasing disposable
income, a strong cultural emphasis on gifting, and the rise of e-commerce are
fueling the expansion of this sector. The growing demand for personalized,
experiential, and sustainable gifting options reflects broader societal shifts
and the desire for meaningful connections. While challenges such as cultural
diversity, competition, and logistical complexities remain, they also present
opportunities for businesses to innovate and develop targeted strategies to
address specific market needs. As the gifting culture continues to evolve in
India, the market will undoubtedly see more dynamic and diverse offerings,
catering to a wide range of consumers across different demographics and regions”, said Mr. Karan Chechi, Research Director of TechSci Research, a research-based
management consulting firm.
“India Gifting Market, By
Purpose (Corporate Gifting, Personal Gifting), By Type (Souvenirs, Personal
Accessories, Decorative Items, Greeting Cards, E-Gift Vouchers, Others), By Sales Channel (Local Shops, Exclusive Outlets, Multi
Branded Shops, Online, Others), By Region, Competition Forecast &
Opportunities, 2020-2030F”,
has evaluated the future growth potential of India Gifting 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 the India Gifting Market.
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