Gifts Novelty and Souvenir Market – Global Industry Size, Share, Trends, Opportunity and Forecast, By Product Type (Gift, Novelty Items, Souvenir), By Material (Wood, Metal, Ceramic, Plastic, Others), By Occasion (Birthdays, Holidays, Anniversaries, Corporate Gifting, Others), By Distribution Channel (Online Retailers, Specialty Gift Shops, Others), By Region & Competition, 2020-2030F

Market Overview

Global Gifts Novelty and Souvenir market was valued at USD 134.56 billion in 2024 and is expected to grow to USD 198.33 billion by 2030 with a CAGR of 5.22% during the forecast period. The Gifts Novelty and Souvenir market by several key factors, including the rising tourism industry, increasing e-commerce penetration, and growing demand for personalized and experiential gifting. As international travel and cultural exploration expand, consumers seek unique souvenirs and locally crafted gifts to commemorate their experiences. The rise of corporate gifting and promotional merchandise is also fueling market growth, as businesses invest in customized and branded novelty items for employee recognition and client engagement. Also, e-commerce platforms and digital marketplaces have made it easier to access a wide range of gifting options, further boosting demand. Consumers are increasingly favoring sustainable and handmade souvenirs, aligning with ethical shopping trends. These evolving preferences continue to shape the market, driving innovation and product diversification.

Key Market Drivers

Rising Demand for Personalized Gifts

The growing preference for personalized gifts is a key driver of the global gifts, novelty, and souvenir market. Consumers increasingly seek unique, customized items that reflect individual tastes, emotions, and relationships. From engraved jewelry and monogrammed accessories to photo-printed merchandise and bespoke handcrafted products, the demand for personalization continues to expand. Advancements in technology, such as AI-driven recommendations, 3D printing, and laser engraving, have made customization more accessible and affordable. E-commerce platforms and online gift retailers offer on-demand personalization services, enabling customers to create tailored gifts with minimal effort. Also, businesses are leveraging personalized corporate gifts to enhance brand engagement and employee appreciation, further boosting market growth. Millennials and Gen Z consumers, who value individuality and meaningful experiences, are driving this trend by opting for personalized gifting over generic options. With the rise of sustainable, handmade, and experience-based gifts, the personalized gifting market is expected to witness sustained growth, transforming the way people express emotions and celebrate special occasions globally.

Growing Travel & Tourism Industry

The expansion of the global travel and tourism industry is a significant driver of the gifts, novelty, and souvenir market. As a part of this, according to the World Travel & Tourism Council, as of 2023, the travel and tourism industry made up 9.1% of the world GDP, up 23.2% from 2022 and just 4.1% less than in 2019.As international and domestic tourism grows, demand for destination-specific souvenirs, cultural artifacts, and travel memorabilia continues to rise. Tourists seek authentic keepsakes to commemorate their experiences, leading to increased sales of handcrafted items, apparel, keychains, postcards, and regionally inspired products. Also, the rise of experiential travel and heritage tourism has boosted interest in locally made, sustainable, and artisanal souvenirs, aligning with consumer preferences for eco-friendly and ethical shopping. The expansion of duty-free retail at airports, cruise lines, and travel hubs has also contributed to market growth by providing convenient access to high-quality souvenirs. Also, the integration of e-commerce and digital retail platforms allows travelers to purchase souvenirs online, even after their trip. With global travel continuing to rebound post-pandemic, the gifts, novelty, and souvenir market is set to experience sustained growth, driven by rising disposable incomes and an increasing desire for unique, experience-based gifting options.

Rise of Corporate Gifting

The corporate gifting sector is experiencing significant growth, becoming a key driver of the global gifts, novelty, and souvenir market. As a part of this, according to a recent study, as of 2022, in India, corporate gifting increased by more than 200% annually. Businesses are increasingly investing in personalized and premium gifts to enhance employee engagement, client relationships, and brand loyalty. Corporate gifts, such as customized merchandise, luxury hampers, branded stationery, and digital gift cards, are widely used for holiday gifting, work anniversaries, incentives, and promotional campaigns. The shift toward employee appreciation and remote workforce engagement has further fueled demand for thoughtful and meaningful corporate gifts. Companies now opt for sustainable, tech-driven, and experience-based gifts, including eco-friendly products, wellness subscriptions, and travel vouchers. Also, advancements in AI-powered personalization and digital gifting solutions have made corporate gifting more convenient and scalable. The rise of e-commerce platforms and bulk ordering solutions enables businesses to easily customize and distribute gifts across global locations. With organizations recognizing the value of gifting as a strategic tool for motivation and relationship-building, the corporate gifting segment is set to drive continued expansion within the gifts, novelty, and souvenir market worldwide.

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Key Market Challenges

Competition from Digital & Cashless Gifting Solutions

The growing popularity of digital and cashless gifting solutions is posing a significant challenge to the global gifts, novelty, and souvenir market. Consumers are increasingly shifting towards e-gift cards, mobile wallets, and subscription-based experiences, reducing demand for traditional physical gifts and souvenirs. The convenience, flexibility, and instant delivery of digital gifting options make them highly attractive, especially in corporate and last-minute gifting scenarios.  Also, businesses are leveraging AI-driven personalized gifting platforms, allowing recipients to select their preferred gift digitally rather than receiving a pre-chosen physical item. This shift has particularly impacted the sales of physical novelty items, travel souvenirs, and traditional corporate gifts.Also, younger consumers, particularly Millennials and Gen Z, prefer experience-based gifting over material possessions, further accelerating the transition toward digital alternatives. The rise of blockchain-based and cryptocurrency-enabled gift cards has also expanded digital gifting choices.As digital gifting continues to grow, the traditional gifts and souvenir market must innovate by incorporating technology-driven personalization, hybrid gifting solutions, and sustainable product offerings to remain competitive in the evolving landscape.

Regulatory & Compliance Challenges

The global gifts, novelty, and souvenir market faces significant regulatory and compliance challenges, impacting manufacturers, retailers, and exporters. Different countries enforce varying regulations on product safety, import/export duties, labeling, and environmental compliance, making it difficult for businesses to navigate global markets seamlessly. One of the major hurdles is intellectual property (IP) protection, as counterfeit goods and trademark infringements continue to affect the novelty and souvenir industry. Stricter enforcement of IP laws demands that businesses ensure authenticity and originality in product design. Also, evolving consumer protection laws require companies to maintain transparency in pricing, quality standards, and return policies.The growing emphasis on sustainability regulations adds another layer of complexity, as governments push for eco-friendly packaging, ethical sourcing, and reduced carbon footprints. Compliance with these standards often requires increased production costs, which may impact profitability. Also, taxation policies, including cross-border tariffs and digital transaction taxes, create financial and operational challenges for global retailers. To remain competitive, companies must adapt to evolving regulations, invest in sustainable practices, and strengthen legal compliance strategies to avoid penalties and trade restrictions.

Key Market Trends

Shift Towards Sustainable & Eco-Friendly Souvenirs

The growing consumer demand for sustainable and eco-friendly souvenirs is reshaping the global gifts, novelty, and souvenir market. With rising awareness of environmental issues, travelers and shoppers are increasingly opting for biodegradable, recycled, and ethically sourced products instead of mass-produced plastic souvenirs. This shift is driving manufacturers to use sustainable materials such as bamboo, organic cotton, recycled glass, and reclaimed wood to create unique, environmentally responsible souvenirs.Many brands are also adopting eco-conscious packaging, replacing plastic wraps with compostable, paper-based, or reusable alternatives. Governments and regulatory bodies worldwide are enforcing stricter sustainability standards, further encouraging businesses to adopt green manufacturing practices.Also, the rise of handmade, artisanal, and locally crafted souvenirs supports small businesses while reducing carbon footprints associated with large-scale production and transportation. Consumers now prioritize ethical gifting, preferring products that contribute to local communities and fair-trade initiatives.As sustainability continues to influence purchasing behavior, businesses in the gifts and souvenirs market must integrate eco-friendly innovations to meet evolving consumer expectations and remain competitive in the global marketplace.

Rise of Cross-Border & Multi-Currency Gifting Solutions

The increasing globalization of commerce and the rise of digital transactions have fueled the growth of cross-border and multi-currency gifting solutions in the global gifts, novelty, and souvenir market. With consumers frequently purchasing gifts for international friends, family, or business associates, the demand for seamless cross-border gifting has surged.E-commerce platforms and fintech companies are introducing multi-currency gift cards and digital gifting solutions, allowing recipients to redeem their gifts in their local currency. This eliminates currency conversion challenges and enhances convenience for global shoppers. Also, the integration of blockchain technology and cryptocurrency-based gift cards is gaining traction, offering secure and borderless gifting options.International brands and retailers are also expanding their cross-border e-commerce capabilities, ensuring smoother transactions, localized payment options, and efficient global delivery services. Businesses are leveraging AI-driven personalization tools to recommend culturally relevant gifts tailored to different markets.As digital payments and global trade continue to expand, cross-border and multi-currency gifting solutions will play a crucial role in shaping the future of the global gifts and souvenir industry, enhancing accessibility and consumer experience.

Rising Demand for Smart & Tech-Integrated Novelty Items  

The growing integration of technology into everyday products is driving the demand for smart and tech-integrated novelty items in the global gifts, novelty, and souvenir market. Consumers are increasingly seeking innovative, interactive, and multifunctional gifts that offer convenience, entertainment, or personalization through technology. Popular tech-integrated gifts include smart LED displays, NFC-enabled souvenirs, Bluetooth-enabled keychains, augmented reality (AR) greeting cards, and voice-activated gadgets. These products appeal to tech-savvy consumers, corporate gifting programs, and novelty collectors, enhancing user experience with digital connectivity. Also, souvenirs featuring QR codes or AR features that provide historical or cultural insights are becoming a trend in the tourism sector.The rise of AI-powered gifting solutions has also fueled demand for personalized smart gifts, such as digital photo frames with cloud connectivity or AI-driven message-recording devices. With advancements in the Internet of Things (IoT), tech-enhanced novelty items are evolving beyond traditional gifting concepts.As technology continues to shape consumer preferences, businesses in the gifts and souvenir market must adopt innovative, tech-driven designs to meet the increasing demand for modern, connected gifting solutions.

Segmental Insights

Product Type Insights

Gift dominated the global Gifts Novelty and Souvenir market driven by driven by rising consumer spending on personal and corporate gifting. The increasing culture of gift-giving for holidays, birthdays, anniversaries, and special occasions has fuelled demand for personalized and premium gifts. Also, the rise of corporate gifting for employee recognition and client appreciation has significantly contributed to market expansion. Advancements in e-commerce and digital gifting solutions have further boosted accessibility, allowing consumers to purchase and customize gifts conveniently. The growing preference for eco-friendly, tech-integrated, and experience-based gifts has also reshaped the market landscape. With increasing disposable income and evolving gifting trends, the gifts segment continues to dominate, driving innovation and growth in the industry. As a part of this, according to a recent study, in 2025, India's per capita household disposable income is expected to reach USD 2.91,000.

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Regional Insights

North America dominated the global Gifts Novelty and Souvenir market, driven by high consumer spending on gifting, a strong tourism industry, and a well-developed e-commerce ecosystem. The region's culture of holiday and occasion-based gifting, including Christmas, Thanksgiving, and corporate events, fuels consistent demand. Also, the growth of personalized and tech-integrated gifts, along with the rising popularity of subscription-based gifting services, has contributed to market expansion. Also, Europe Gifts Novelty and Souvenir market is driven by factors such as strong tourism industry, rising demand for personalized gifts, and increasing adoption of sustainable products.

Recent Developments

• In January 2025, PAR Technology launched PAR Gift, a cutting-edge gift card solution designed to help restaurants and retailers enhance gifting experiences through seamless personalization while driving new growth opportunities.
• In September 2023, The Open Network for Digital Commerce (ONDC) launched the ONDC Network Gift Card, a network-wide solution designed to enhance corporate gifting and employee engagement. This gift card enables consumers to seamlessly shop across thousands of sellers using any ONDC-enabled buyer application, driving convenience and accessibility.

Key Market Players

• Mud Pie
• American Greetings Corporation
• Enesco LLC
• Disney DTC LLC
• Mattel, Inc.
• The Bradford Exchange
• Ganz
• Warner Bros. Discovery, Inc.
• NBCUniversal
• Hallmark

Report Scope:

In this report, the Global Gifts Novelty and Souvenir Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

•   Gifts Novelty and Souvenir Market, By Product Type:

o   Gift

o   Novelty Items

o   Souvenir

• Gifts Novelty and Souvenir Market, By Material:

o   Wood

o   Metal

o   Ceramic

o   Plastic

o   Others

• Gifts Novelty and Souvenir Market, By Occasion:

o   Birthdays

o   Holidays

o   Anniversaries

o   Corporate Gifting

o   Others

• Gifts Novelty and Souvenir Market, By Distribution Channel:

o   Online Retailer

o   Specialty Gift Shops

o   Others

• Gifts Novelty and Souvenir Market, By Region:

o   North America

§  United States

§  Canada

§  Mexico

o   Asia-Pacific

§  China

§  Japan

§  India

§  Australia

§  South Korea

o   Europe

§  France

§  United Kingdom

§  Italy

§  Germany

§  Spain

o   South America

§  Argentina

§  Colombia

§  Brazil

o   Middle East & Africa

§  South Africa

§  Saudi Arabia

§  UAE

§  Turkey

Competitive Landscape

Company Profiles: Detailed analysis of the major companies presents in the Global Gifts Novelty and Souvenir Market.

Available Customizations:

Global Gifts Novelty and Souvenir Market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

• Detailed analysis and profiling of additional market players (up to five).

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