Personalized Gifts Market size is set to grow by USD 14.98 bn from 2024-2028, American Greetings Corp., American Stationery Co. Inc. and CafePress Inc., and more to emerge as Some of the Key Vendors, Technavio
NEW YORK, April 1, 2024 /PRNewswire/ -- The global personalized gifts market size is estimated to grow by USD 14.98 bn from 2024 to 2028, according to Technavio. The market is estimated to grow at a CAGR of 8.35% during the forecast period. North America held the largest share of the global market in 2023, and the market in the region is estimated to witness an incremental growth of 34%.
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Major Players in the Market
Numerous companies are capitalizing on this growing trend by implementing strategic measures such as alliances, partnerships, mergers, and acquisitions. Among the notable players in the cheese based snacks market are:
American Greetings Corp., American Stationery Co. Inc., CafePress Inc., Card Factory Plc, Chococraft Creations Pvt. Ltd., Cimpress Plc, ESCO Technologies Inc., Etsy Inc., Fat Brain Toys LLC., Ferns N Petals Pvt. Ltd., funkypigeon.com Ltd., Giftiliya, Gifto Graphics, Godiva Chocolatier Inc., Hallmark Card Inc., Personal Creations, Pinnacle Promotions, Redbubble Ltd., Shutterfly Inc., Signature Gifts Inc., Spencer Gifts LLC, The Walt Disney Co., Zazzle Inc.
Key Market Drivers
In the dynamic world of consumer goods, the personalized gifts market in Italy has experienced remarkable demand due to developments in personalization technologies. The "presence" of custom-made gifts in the marketplace, whether for family occasions or as thoughtful expressions of care, has significantly boosted sales. E-commerce platforms and card factories have been key players in this trend, facilitating the creation of unique, special gifts through photo engraving, handmade craftsmanship, and bespoke designs. Recent acquisitions in the sector further underscore the popularity of personalized gifts, as companies tailor-make items to meet individual recipient requirements. This tailor-made approach ensures that each gift is memorable and meaningful, making it an essential component of our modern gift-giving culture.
Challenges and Opportunities
The personalized gifts market continues to thrive, with the growing trend towards customization and personalization. Customized gifts and personalized presents are increasingly popular, as they offer a unique touch to traditional gifting. The personalization market, including personalized gift shops and gifting businesses, caters to this demand with engraved gifts, monograms, and one-of-a-kind items. However, similar to the healthcare sector, reimbursement for personalized gifts is not universally adopted. Developments in this area include the Center for Medicare and Medicaid Services (CMS) setting standards for reimbursement in specific areas, such as Health Professional Shortage Areas (HPSA) and rural regions outside of Metropolitan Statistical Areas (MSA). The customized gifting industry, including personalized gift shops and the personalization mall, continues to expand, offering a wide range of custom engraved and personalised gifts to meet the growing demand. Italy, in particular, is known for its rich history of artisanal personalized gift-making.
The personalized gifts market continues to gain popularity as consumers seek unique and thoughtful presents for various occasions. E-commerce platforms and card factories have seen significant sales growth in this sector, thanks to the customization options they offer. Photo engraving and handmade, bespoke designs are among the trends driving the personalized gifts market. Acquisitions of smaller, craftsmanship-focused businesses have also contributed to the market's expansion. This tailor-made approach to gifting allows individuals to create memorable and special presents that truly reflect the recipient's personality. The personalization market, including customized gifts and personalized presents, is expected to see continued growth as consumers value the thoughtfulness and creativity that goes into each item.
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Market Overview
The Personalized Gifts Market is a significant segment in the retail industry, characterized by the creation and sale of unique gifts tailored to individual preferences. Gifts are a mark of thoughtfulness and affection, making personalization an essential aspect. Personalized gifts can range from custom-made jewelry, engraved items, monogrammed clothing, to photo albums and art pieces. The Custom Tomes segment, including books with personalized covers and inscriptions, is a growing trend. The market is driven by increasing consumer demand for unique and thoughtful gifts, as well as advancements in technology enabling easier customization. The market is expected to continue growing, with a focus on sustainability and eco-friendly materials. The Personalized Gifts Market presents a lucrative opportunity for businesses to cater to this demand and offer a memorable shopping experience.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Venodr Landscape
11 Vendor Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides 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.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/
SOURCE Technavio
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