The gift card market offers a versatile gifting solution, serving both consumers and businesses. Gift cards are commonly used for various purposes, including celebrations, holidays, and incentives. They feature user-friendly designs, customization options, and digital accessibility. Businesses benefit from brand promotion, customer loyalty, and data insights, while consumers appreciate the convenience, flexibility, and security of gift cards. Features often include variable denominations, attractive packaging, and reloadable options, making gift cards a popular choice for personal and corporate gifting.
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Data Bridge Market Research analyses that the Global Gift Card Market was valued at USD 9,10,114.95 million in 2022 and is expected to reach the value of USD 2,632,843.72 million by 2030, at a CAGR of 14.2% during the forecast period of 2023-2030. During holidays and special occasions, the demand for gift cards soars as people seek convenient and versatile gifting options, enabling recipients to choose their preferred items or experiences, aligning with the festive spirit and personal preferences.
Key Findings of the Study
Personalization is expected to drive the market's growth rate
Customizable gift cards offer a personalized gifting experience by allowing individuals to add a heartfelt touch. These cards can be tailored with personal messages, images, or specific denominations, making them a thoughtful and meaningful present. The ability to cater to the recipient's preferences and interests demonstrates the giver's effort and consideration, creating a more memorable and cherished gift. Customization enhances the emotional connection and sentiment associated with the gift, making it truly special.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015-2020)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Product (E-Gift Cards and Physical Cards), Functional Attribute (Closed Loop, Universal Accepted Open Loop, and E-Gifting), Industry Vertical (Retail and Corporate Institutions), Merchant (Restaurants, Discount Stores, Coffee Shops, Departmental Store, Grocery Store/Food Supermarkets, Entertainment, and Others)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
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Market Players Covered
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Walmart Inc. (U.S.), Under Armour, Inc. (U.S.), Givex Corporation (Canada), American Express (U.S.), Target Brands, Inc. (U.S.), Best Buy (U.S.), Starbucks Coffee Company (U.S.), PayPal Holdings, Inc. (U.S.), Apple Inc. (U.S.), Sephora USA, Inc. (U.S.), Gyft, Inc. (U.S.), Walgreen Co. (U.S.), TransGate Solutions (U.S.), AMILON S.R.L. (Italy), Jigsaw Business Solutions (U.S.), Diggecard (Germany), Pine Labs Private Limited (India), Alltimeprint.com (U.S.), Plastek Card Solutions, Inc. (U.S.), Card USA, Inc. (U.S.), Duracard (U.S.), Blackhawk Network (U.S.), Tango Card, Inc. (U.S.), Stockpile, Inc. (U.S.), Huuray A/S (Denmark)
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Data Points Covered in the Report
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In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and consumer behaviour.
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Segment Analysis:
The global gift card market is categorized into product, functional attribute, industry vertical, and merchant.
- On the basis of product, the market is segmented into e-gift cards and physical cards.
- On the basis of functional attributes, the market is segmented into closed loop, universal accepted open loop, and e-gifting.
- On the basis of industry vertical, the market is segmented into retail and corporate institutions.
- On the basis of merchant, the market is segmented into restaurants, discount stores, coffee shops, departmental store, grocery store/food supermarkets, entertainment, and others.
Major Players
Data Bridge Market Research recognizes the following companies as the global gift card market players in global gift card market are Walmart Inc. (U.S.), Under Armour, Inc. (U.S.), Givex Corporation (Canada), American Express (U.S.), Target Brands, Inc. (U.S.), Best Buy (U.S.), Starbucks Coffee Company (U.S.), PayPal Holdings, Inc. (U.S.), Apple Inc. (U.S.), Sephora USA, Inc. (U.S.).
Market Developments
- On October 29, 2020, PRNewswire published an article titled "The Surge in Digital Gifting Leads to the Introduction of Personalized E-Gift Card Options on Giftcards.com." Giftcards.com has broadened its digital gift card selections to cater to customers seeking more individualized presents. These cards are meticulously crafted for specific occasions, recipients, or charitable purposes. The company now provides a range of new e-gift cards without any associated fees.
- On April 9, 2021, ThoughtWorks released a blog post highlighting the significance of gift cards for retailers. They serve as effective entry points to lead customers into a closed loop of payment, membership, and ordering systems, fostering new spending patterns. For instance, the Starbucks Gift Card goes beyond a gifting tool; it offers a convenient payment method and encourages more frequent store visits, resulting in a natural boost in sales.
Regional Analysis
Geographically, the countries covered in the global gift card market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
As per Data Bridge Market Research analysis:
North America is the dominant region in the global gift card market during the forecast period 2023-2030
North America dominates the global gift card market, driven by the increasing popularity of gift cards among consumers. The United States, in particular, is the dominant country in the region, with a strong culture of gifting and retail promotion. Gift cards offer convenience and flexibility, making them a preferred choice for various occasions. The region's robust economy and retail landscape further contribute to the growing prominence of gift cards in North America.
Asia-Pacific is expected to dominate the global gift card market in the forecast period 2023-2030
Asia-Pacific is expected to witness the swiftest growth in the global gift card market, driven by a growing awareness of gifting trends and the increasing popularity of gift cards. China takes the lead in the Asia-Pacific region as it experiences a surge in gift card usage. These cards are favored for flexibility and convenience, aligning with evolving consumer preferences. The region's large and dynamic consumer base and the adoption of gift cards contribute to its rapid market expansion.
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