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

Market Overview

The 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 encompasses a wide range of products including gift cards, flowers, chocolates, jewelry, and personalized gifts. The online gifting market in India is also growing rapidly, with many e-commerce platforms offering a variety of gifting options. The convenience of online shopping, coupled with the availability of a wide range of products, has led to the growth of this segment. Overall, the gifting market in India has immense potential and is expected to continue to grow in the coming years, driven by changing consumer preferences and increasing awareness of gifting etiquette. The market offers significant opportunities for both domestic and international players, especially in the areas of personalization, innovation, and digitalization.

Key Market Drivers

Rising Disposable Incomes

One of the most prominent drivers of the India gifting market is the increase in disposable incomes, particularly within the urban middle and upper-middle-class segments. As India's economy continues to grow, a significant portion of the population is experiencing a rise in personal income, leading to enhanced purchasing power. This economic uplift has empowered consumers to spend more on discretionary items, including gifts. The rise in disposable incomes is shifting the dynamics of gifting, from being a necessity or obligation to a form of personal expression. Consumers are more willing to spend on premium and luxury gifts to convey status, appreciation, or love. The increased income levels also make it easier for individuals to purchase gifts during festivals, birthdays, weddings, and other occasions, where previously budget constraints may have limited spending. Furthermore, the rise of dual-income households has also contributed to higher levels of disposable income, thus increasing the overall consumer expenditure on gifts. Urbanization plays a crucial role here, with more people living in metropolitan cities that offer higher-paying jobs, improved infrastructure, and more opportunities for spending. Mondelez's brand partnered with Design Bridge and Partners for creative experimentation, aiming to increase collaborations with artists and launch limited-edition collections under the Studio Creations line. The company is focusing on expanding its premium offerings with brands like Cadbury, Toblerone, and Oreo, targeting affluent consumers who are willing to spend more on high-end gifting products. Mondelez aims to position its products as luxury gifts, especially during festive seasons like Diwali, by introducing new premium packaging, exclusive products, and personalized gift options. The company is also leveraging e-commerce platforms to reach a broader audience and enhance consumer convenience.

Cultural and Religious Celebrations

India’s rich cultural and religious diversity plays a pivotal role in driving the gifting market. India is a country known for its numerous festivals, holidays, and social celebrations that often center around gift-giving. Major festivals such as Diwali, Eid, Christmas, Raksha Bandhan, and Holi see widespread and frequent exchanges of gifts. These festivals provide a substantial volume of demand for gifts, as they are not only a time for family gatherings and socializing but also an opportunity to demonstrate respect, affection, and goodwill. In particular, festivals such as Diwali and Eid are seen as times when individuals give gifts to express love, appreciation, and festivity. These cultural occasions drive significant market demand for a wide variety of products such as sweets, clothes, gadgets, jewelry, and home décor. Corporate gifting also plays a crucial role in this context, as businesses take part in the celebration by sending gifts to clients, employees, and stakeholders, strengthening business relationships and branding efforts. Additionally, gifting is deeply integrated into wedding and birthday celebrations, which are significant events in Indian culture. Weddings, in particular, often involve elaborate gift exchanges, ranging from cash gifts to gold and electronics. As religious and cultural celebrations continue to be a central part of Indian life, the gifting market sees consistent growth, supported by the variety of occasions that encourage gift-giving across different segments, from personal to corporate.

Growth of E-commerce and Personalized Gifting

The rapid growth of e-commerce has revolutionized the gifting market in India. With the advent of online shopping platforms such as Amazon, Flipkart, and niche gifting sites, consumers now have access to a vast array of gift options from the comfort of their homes. E-commerce has not only expanded the variety of gifts available but has also made the process of buying and sending gifts far more convenient and efficient. This has led to a sharp increase in online gift shopping, especially during peak gifting seasons like festivals, birthdays, and weddings. Furthermore, the rise of personalized gifting has become an important trend, driven largely by online platforms that offer customization services. Consumers can now create unique, personalized gifts such as engraved jewelry, custom-made clothing, photo albums, or even bespoke artwork, allowing them to express more meaningful sentiments. This trend resonates particularly with consumers looking for thoughtful and one-of-a-kind gifts that stand out from mass-produced items. IGP (Indian Gift Portal) is leveraging artificial intelligence (AI) to transform the online gifting space in India. IGP, one of the leading e-gifting platforms, is using AI and machine learning to offer a personalized gifting experience for consumers. By analyzing customer data, IGP is able to suggest relevant gifts based on preferences, past purchases, and occasion types. The company is also implementing AI-driven chatbots for real-time assistance, improving customer service. Additionally, IGP has enhanced its logistics capabilities with AI to ensure faster and more efficient delivery, particularly during peak gifting seasons. This tech-driven approach is positioning IGP as a leader in the evolving online gifting market, providing customers with a seamless and customized gifting experience.                                                                                                                                                                             

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Key Market Challenges

Cultural Sensitivity and Diverse Preferences

India’s vast cultural diversity poses a significant challenge in the gifting market. With numerous states, religions, languages, and traditions, the preferences for gifts vary widely across the country. What may be considered an ideal gift in one region or community could be inappropriate or unwanted in another. For example, in some regions, traditional gifts like sweets, clothing, or religious artifacts are preferred, while in urban areas, gadgets, luxury goods, and experience-based gifts may be more popular. For businesses, this creates a challenge in curating gift options that appeal to a broad audience. Gifting companies must understand the diverse cultural nuances and tailor their offerings accordingly. Failing to do so could lead to dissatisfaction among customers or even offend them if the gift choice is culturally inappropriate. Moreover, retailers and e-commerce platforms need to stock a variety of products that cater to various preferences, which increases inventory management complexities. To effectively address this, brands often need localized strategies, promotional campaigns, and culturally relevant product assortments, which adds to operational costs.

High Competition and Market Fragmentation

The India gifting market is highly fragmented, with both organized players and a large number of local, unorganized sellers. This creates intense competition, particularly for gift retailers and e-commerce platforms. While major players such as Amazon, Flipkart, and local specialty stores are dominating the market, smaller and local businesses also offer competitive pricing and unique regional products. As a result, it becomes challenging for new entrants or smaller companies to differentiate themselves and build a loyal customer base. Additionally, consumers in India are increasingly price-sensitive, particularly in the mass-market segment. With a variety of options available, buyers often compare prices, promotions, and the perceived value of products. As the market grows, the emphasis on competitive pricing intensifies, forcing brands to reduce profit margins. To stay competitive, businesses need to constantly innovate their product offerings, improve customer service, and differentiate themselves from the growing number of players in the market. Without strong branding and value proposition, smaller companies or those without significant financial backing may struggle to thrive.

Key Market Trends

Personalized and Customized Gifts

One of the most significant trends in the India gifting market is the increasing demand for personalized and customized gifts. Consumers are moving away from generic, off-the-shelf options and are instead seeking unique gifts that carry a personal touch. This trend has been fueled by the desire to create deeper emotional connections and make special occasions more memorable. Personalized gifts such as custom-engraved jewelry, photo albums, bespoke art, and even monogrammed home decor items are gaining popularity across various consumer segments. The rise of online gifting platforms and e-commerce has further accelerated this trend, as many platforms now offer easy customization tools that allow customers to add names, dates, or personal messages to products. These personalized options allow consumers to select items that feel more thoughtful and meaningful, whether it’s for a birthday, wedding, anniversary, or a corporate gift. The growing culture of celebrating milestones with bespoke gifts has expanded the gifting market, especially for online platforms that cater to diverse tastes and occasions. Additionally, the rise of social media and influencer culture has contributed to the desire for more customized gifting, as consumers seek unique items that reflect their personality or social status.

Sustainable and Eco-Friendly Gifting

Sustainability is becoming an increasingly important consideration for Indian consumers when it comes to gift purchasing. As awareness of environmental issues grows, more people are opting for eco-friendly, sustainable gifts. This trend includes gifts made from organic, biodegradable, or recycled materials, as well as products that promote sustainability, such as reusable shopping bags, bamboo home goods, or natural beauty products. Eco-conscious consumers are particularly drawn to brands that offer products that have a minimal environmental footprint. Companies are responding by designing gifts that use sustainable materials, such as wooden or metal items instead of plastic, and by adopting eco-friendly packaging solutions like recyclable or reusable wrapping paper. This shift is most evident during major gifting seasons like Diwali and Christmas, where there is a growing demand for gifts that align with values of sustainability. The rise of ethical and socially responsible brands has further accelerated this shift, as consumers increasingly seek products that not only serve a functional purpose but also reflect their values. Additionally, corporate gifting is also leaning toward sustainable gifts, as companies aim to align their practices with environmental and social responsibility. Businesses are now selecting gifts that reflect their commitment to sustainability, reinforcing their brand image while appealing to eco-conscious consumers.

Segmental Insights

Purpose Insights

Personal gifting was the dominant segment of the India gifting market, driving a substantial portion of the overall demand. This segment includes gifts given for personal celebrations such as birthdays, anniversaries, weddings, and other milestone events. As personal gifting is deeply embedded in Indian culture, it plays a vital role in maintaining and strengthening social bonds. The desire to celebrate relationships and commemorate significant moments with thoughtful gifts has led to a continuous rise in this segment. Personal gifting encompasses a wide range of products, from traditional items like jewelry and apparel to modern gifts such as gadgets, books, and personalized home decor. The growing trend of personalized gifts, where consumers opt for customized products that carry a personal touch, is further propelling this segment's growth. Moreover, the rise in disposable income, especially among India’s urban population, has made consumers more willing to spend on high-quality or luxury personal gifts. The ease of purchasing gifts through e-commerce platforms has also increased the accessibility of personal gifting, making it more convenient and diverse. With festivals, celebrations, and occasions happening year-round, personal gifting continues to dominate the Indian market, contributing significantly to its expansion. 

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Regional Insights

In the India Gifting Market, the West region stands out as the dominant market, driving a significant share of the overall gifting demand. This region includes key states such as Maharashtra, Gujarat, Rajasthan, and Madhya Pradesh, which are not only economically developed but also culturally rich, making them prime areas for gifting. Mumbai, in particular, acts as a hub for luxury gifting, with a large urban population and a high concentration of corporate offices. The region’s cosmopolitan nature, coupled with a growing middle class, contributes to a rising demand for both personal and corporate gifts, from luxury goods to customized items. Cultural festivals like Diwali, Ganesh Chaturthi, and weddings are major occasions that boost gifting activity in the West. Additionally, the increasing trend of gifting in the corporate sector in cities like Ahmedabad and Pune, where business activities thrive, further bolsters the market. E-commerce has further amplified gifting trends in this region, with easy access to both regional and global gifting options, offering personalized and premium gifts. The West’s blend of affluence, modernity, and tradition continues to make it the largest and fastest-growing market in India’s gifting sector, setting the tone for emerging trends in gifting preferences.

Recent Developments

• In 2023, one of the top gift brands in India, FlowerAura, held its most recent launch event with a clear focus on enhancing the customer experience through improved services which focuses on customers and their gifting patterns along with novel gift options.
• In 2023, Archies launched “Give a Gift of a Card”, which is a digital campaign during valentine’s day which encouraged the customers to give a gift card to their loved ones.
• In 2023, Provenance Gourmet Gifts and Royce' Chocolate are opened their seventh location in Orion Mall at Brigade Gateway. The gift shop provides a large selection of carefully chosen gourmet and lifestyle goods as well as thoughtful gift baskets.
• In 2024, Mars Wrigley India introduced Galaxy Jewels, a new luxury gifting product designed to appeal to everyone, promising to captivate both the eye and the senses. Available in two sizes, Galaxy Jewels features four individually wrapped, silky smooth flavors: Smooth Milk, Crispy, Caramel, and Dark Cream.

Key Market Players

• 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

Report Scope:

In this report, the India Gifting Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

• India Gifting Market, By Purpose:

o   Corporate Gifting

o   Personal Gifting

• India Gifting Market, By Type:

o   Souvenirs

o   Personal Accessories

o   Decorative Items

o   Greeting Cards

o   E-Gift Vouchers

o   Others

• India Gifting Market, By Sales Channel:

o   Local Shops

o   Exclusive Outlets

o   Multi Branded Shops

o   Online

o   Others

• India Gifting Market, By Region:

o   North

o   West

o   South

o   East

Competitive Landscape

Company Profiles: Detailed analysis of the major companies presents in the India Gifting Market.

Available Customizations:

India Gifting 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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