View Sample: to know additional highlights and key points on various market segments and how they will impact in coming years.
Vendor Insights
The global Gifts Novelty and Souvenirs market is fragmented in nature due to the presence of several global and regional players.
The growing competition in the market is compelling vendors to adopt various growth strategies such as promotional activities and spending on advertisements to improve the visibility of their products. Some vendors are also adopting inorganic growth strategies such as M&As to remain competitive in the market.
For Instance- In March 2021, American Greetings Corp, in partnership with Actress Marlee Matlin, launched Innovative Sign Language Digital Greeting.
Find additional highlights on the growth strategies adopted by vendors and their product offerings. Read Sample Market Research Report.
Geographical Market Analysis
Europe will provide maximum growth opportunities in the Gifts Novelty and Souvenirs market during the forecast period. According to our research report, the region currently holds 35% of the global market share and is expected to dominate the market through 2025.
In addition, countries such as the US, China, France, Germany, and the UK are expected to emerge as prominent markets for Gifts Novelty, and Souvenirs during the forecast period.
Know more about this market's geographical distribution along with the detailed analysis of the top regions. https://www.technavio.com/report/gifts-novelty-and-souvenirs-market-industry-analysis
Key Market Trends & Challenges:
The report identifies increased demand for personalized gift products as a major factor supporting the gifts novelty and souvenirs market share growth. Personalization of gifts is a major trend, which enhances sales and fuels the growth of the market. It also helps small gift and souvenir retailers develop long-term relationships with customers and encourage repeat business for the companies. Personalized gifts are also popular for occasions such as retirement, promotion, birthdays, New Year, and Women's Day. This has propelled the demand for premium gift items driving the market growth.
The availability of alternate products for social expression will be a major challenge for the gifts novelty and souvenirs market. The social expression products market faces intense competition from the evolving trend of alternate social expression products and services, such as electronic devices and online platforms for communication. Increased alternate product offerings and high adoption of digital platforms pose a huge challenge for the market.
View free sample for highlights on market Trends & Challenges affecting the gifts novelty and souvenirs market.
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Gifts Novelty And Souvenirs Market Scope |
Report Coverage |
Details |
Page number |
120 |
Base year |
2020 |
Forecast period |
2021-2025 |
Growth momentum & CAGR |
Accelerate at a CAGR of over 3% |
Market growth 2021-2025 |
USD 11.88 billion |
Market structure |
Fragmented |
YoY growth (%) |
3.00 |
Regional analysis |
Europe, North America, APAC, South America, and MEA |
Performing market contribution |
Europe at 35% |
Key consumer countries |
US, China, France, Germany, and UK |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
American Greetings Corp., Archies Ltd., Card Factory Plc, funkypigeon.com Ltd., Hallmark Licensing LLC, PersonalizationMall.com LLC, Redbubble Ltd., Scotts Highland Services Ltd., Spencer Gifts LLC, and The Walt Disney Co. |
Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period. |
Customization preview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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