NEW YORK, Nov. 26, 2023 /PRNewswire/ — The gifts novelty and souvenirs market is estimated to grow by USD 13.73 billion from 2022 to 2027, growing at a CAGR of 3.4%. The gifts novelty and souvenirs market is fragmented owing to the presence of many global and regional companies. A few prominent companies that offer gifts novelty and souvenirs market are Alibaba Group Holding Ltd., American Greetings Corp., American Stationery Co. Inc., Archies Ltd., Card Factory Plc, Cimpress Plc, Consortium Gifts Pvt Ltd, Enesco LLC, Ferns N Petals Pvt. Ltd., funkypigeon.com Ltd., Hallmark Card Inc., Memorable Gifts, PersonalizationMall.com LLC, Redbubble Ltd., Scotts Highland Services Ltd, Shutterfly Inc., Signature Gifts Inc, Sixty Stores Ltd., Target Corp., and Zazzle Inc. The report provides a full list of key companies, their strategies, and the latest developments. Download Sample before buying
Technavio has announced its latest market research report titled Global Gifts Novelty and Souvenirs Market 2023-2027
Company Offering:
American Stationery Co Inc – The company offers gifts novelty and souvenirs such as gifts cards, embroideries, and frames.
Archies Ltd – The company offers gifts novelty and souvenirs such as personalized cards, mugs, and photoframes.
Card Factory Plc – The company offers gifts novelty and souvenirs such as scented candles, chocolates and sweets, and cushions.
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By Geography, the market is classified as Europe, North America, APAC, South America, and Middle East and Africa. Europe accounts for 36% of market growth. The UK, France, Italy, Spain, and Germany have the highest demand for luxury goods and personalized gifts in Europe. Also, the growth of the market is enhanced by an early entry into e-commerce markets in this region. An important market effect is also created by the increase of e-commerce in gift retailing.
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Impactful driver- Technological advances leading to product innovation and premiumization
Key Trend – Increased demand for personalized gift products
Major Challenges – The highly complex inventory, supply chain, and merchandising management
Market Segmentation
By Product, the market is classified into souvenirs and novelty items, seasonal decorations, greeting cards, and giftware, and others. The souvenirs and novelty items segment is estimated to witness significant growth during the forecast period. Souvenirs and novelties are frequently given as gifts. They’ve been accustomed to cherishing rare moments, places, and memories. The demand for souvenir and novelty items is on an upward trend, in line with the evolution of consumer shopping patterns that include special occasions and themes.
Technavio Research experts have provided more insights on the market share of segments – View a Sample Report
Related Reports:
The personalized gifts market is estimated to grow at a CAGR of 7.85% between 2022 and 2027. The size of the market is forecast to increase by USD 13011.27 million.
The gift card market is estimated to grow at a CAGR of 12.87% between 2022 and 2027. The size of the market is forecast to increase by USD 843.11 billion.
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Gifts Novelty And Souvenirs Market Scope |
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Report Coverage |
Details |
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Historic period |
2017-2021 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 3.4% |
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YoY growth 2022-2023 (%) |
3.64 |
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Regional analysis |
Europe, North America, APAC, South America, and Middle East and Africa |
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Key countries |
US, Canada, China, Germany, and UK |
TOC:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Company Landscape
12 Company Analysis
13 Appendix
About US
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SOURCE Technavio