Global Personal Gifting Market Overview, 2024-29

Global Personal Gifting Market Overview, 2024-29

In a world that is increasingly driven by mass production and standardized goods, the global personalized gift market has emerged as a refreshing contrast. Offering something unique and tailored to individual tastes, personalized gifts create an emotional connection that generic products often fail to evoke. From customized jewelry and engraved keepsakes to bespoke home décor and tailored accessories, these gifts transcend the ordinary, making them the perfect choice for any occasion, whether it’s a birthday, anniversary, or a milestone celebration. Personalized gifts hold immense sentimental value, turning everyday objects into cherished memories. As people across the globe look for ways to make their presents more meaningful, the demand for custom-made items continues to rise. The rise of e-commerce platforms has made it easier than ever for consumers to personalize their purchases, allowing them to design gifts with their own personal touch, from custom text to unique images. This shift towards more individualized, thoughtful gifting has not only expanded the appeal of personalized products but also transformed the gift industry as a whole. From the United States to Asia and Europe, the personalized gift market is booming, with consumers in different regions embracing the trend for various reasons. Cultural significance, changing gifting traditions, and a desire for meaningful connections are fueling this growth. As disposable incomes rise globally and gifting occasions continue to multiply, the market for personalized gifts is poised to become a major industry worldwide.

According to the research report, “Global Personalized Gift Market Overview, 2024-29” published by Bonafide Research, the market is anticipated to cross USD 44 Billion by 2029, increasing from USD 28.12 Billion in 2023. The market is expected to grow with a 8.23% CAGR from 2024 to 2029. The global personalized gift market is rapidly evolving, shaped by several key trends. One of the most prominent shifts is the growing preference for customization, as consumers seek gifts that reflect their personal touch and emotional significance. The increasing use of online platforms to create and purchase customized gifts is another major trend. E-commerce has simplified the process, allowing consumers to easily add personal messages, names, or even images to their gifts, increasing the market's accessibility. Government policies surrounding e-commerce and retail regulations also play a role in the market’s dynamics, ensuring that personalized gift suppliers meet product safety and quality standards. Technology has transformed the personalization process, with advancements in laser engraving, embroidery, and 3D printing enabling more intricate and diverse customization options. Several dominating companies in the space, especially in the e-commerce and gifting sectors, are capitalizing on this demand by offering platforms dedicated exclusively to personalized gifts. These companies provide consumers with the ability to design everything from engraved jewelry to photo-based gifts, ensuring that their offerings align with modern-day gifting preferences. With these trends in play, the personalized gift market is expected to continue flourishing, driven by consumer demand for unique, thoughtful, and meaningful products.

Market Drivers

• Growing Popularity of Online Gift Personalization Tools: The development of easy-to-use online personalization tools has enabled consumers to create and design their own gifts with minimal effort. Many websites now offer simple platforms where users can add personal messages, names, or photos to items like mugs, T-shirts, and home décor. This accessibility to customization tools has made personalized gifts more attractive and convenient, accelerating the market’s growth as consumers can easily create and buy unique products.

Market Challenges

• Pricing Pressure: While consumers are willing to pay a premium for personalized gifts, there is often pressure to keep prices competitive, especially as the market becomes more saturated. The need to balance customization costs with affordability can put a strain on businesses. Small margins and the high cost of production can lead to pricing challenges for companies, especially those that rely on labor-intensive personalization processes or small-scale manufacturing.

Market Trends

• Rise in Customized Subscription Boxes: Subscription boxes are gaining popularity in the personalized gift market, offering a convenient way for consumers to receive curated, customized gifts on a regular basis. These boxes often include a range of personalized items such as clothing, accessories, or home décor, making them ideal for recipients who enjoy surprise gifts. This growing trend of personalized subscription services provides a recurring revenue model for businesses and a unique gifting option for consumers.

The Non-photo personalized gifts have emerged as one of the most dominant segments in the global personalized gift market due to their versatility, timeless appeal, and broader application.

Non-photo personalized gifts have emerged as one of the most dominant segments in the global personalized gift market due to their versatility, timeless appeal, and broader application across various occasions. Unlike photo-based gifts, which are limited to visual personalization, non-photo gifts offer a wider range of customizations, such as engravings, monograms, embroidery, and name personalization. These gifts often include jewelry, home décor items, custom-made accessories, and office supplies, making them suitable for a broader demographic. The key driver for this segment's growth is the increasing demand for elegant, functional gifts that carry a personal touch but don’t rely on imagery. Items such as engraved watches, monogrammed wallets, custom keychains, and personalized home décor are highly popular for gifts because they can be used daily, maintaining both sentimental and practical value. This broad utility makes non-photo personalized gifts a versatile choice for various gifting occasions, including birthdays, anniversaries, graduations, and corporate gifting. Furthermore, non-photo personalized gifts have a universal appeal, easily catering to different tastes and age groups. These items can be tailored to suit formal or casual preferences, which broadens their market reach. As such, this segment benefits from a steady demand driven by consumers seeking gifts that are meaningful yet timeless, making non-photo personalized gifts a leading choice in the global personalized gift market.

The combination of online distribution channels and the growing purchasing power of women has positioned this segment as a leading force in the global personalized gift market

The combination of online distribution channels and the growing purchasing power of women has positioned this segment as a leading force in the global personalized gift market. Online shopping has become the go-to method for consumers worldwide, driven by convenience, accessibility, and the ability to easily personalize gifts through various platforms. Online retailers offer a seamless and user-friendly experience, allowing customers to customize products and have them delivered directly to their doorstep, eliminating the need to visit physical stores. As a result, online sales of personalized gifts continue to rise. Women, particularly, are the primary drivers of this trend. As consumers, women are often the ones who purchase personalized gifts for family, friends, and partners, especially during holidays, special occasions, or celebrations like birthdays and anniversaries. Their inclination towards meaningful and thoughtful gifting makes them highly engaged in the personalized gift market. Additionally, women are increasingly involved in online shopping, with many seeking customizable options to make their gifts more personal and memorable. This focus on unique, tailored products resonates strongly with women who value emotional connection in gifting. The popularity of platforms offering a wide range of personalized gifts, from custom jewelry to home décor, along with women’s growing disposable income, has contributed to the success of this segment. These factors combine to make online shopping and women the most powerful driving forces behind the personalized gift market’s expansion, ensuring that this segment remains dominant in the global market.

The North America stands as the leading region in the global personalized gift market due to a combination of cultural trends, economic factors.

North America stands as the leading region in the global personalized gift market due to a combination of cultural trends, economic factors, and a highly developed e-commerce infrastructure. The region's market dominance is largely driven by consumer demand for unique, customized products that reflect personal sentiments, making personalized gifts particularly popular for holidays, special occasions, and celebrations. In countries like the United States and Canada, consumers are increasingly seeking meaningful, individualized presents for loved ones, a shift that has contributed to the rising demand for personalized gifts. One of the major drivers for North America’s leadership is its large, diverse, and affluent consumer base. The region boasts high disposable incomes, which allows consumers to indulge in premium and customized products. Personalized gifts, often seen as more thoughtful and unique, are favored for events such as weddings, birthdays, anniversaries, and even corporate gifting. As consumers in North America are willing to spend more on personalized products, this gives a significant boost to the market’s growth. Moreover, North America has a robust and sophisticated e-commerce infrastructure, enabling consumers to easily access a variety of online platforms offering personalized gift options. The convenience of online shopping, combined with user-friendly customization tools, has made it easier for consumers to design and purchase personalized products from the comfort of their homes. The e-commerce sector in North America has rapidly evolved, with retailers offering a wide range of personalized products, from custom apparel to engraved jewelry and home décor. Additionally, the growing trend toward sustainable and ethical consumption has further fueled the demand for eco-friendly personalized gifts in North America. As consumers increasingly prioritize sustainability, they are opting for products that are not only unique but also environmentally conscious. This has helped the region maintain its position as the global leader in the personalized gift market.

• In January 2024, Etsy, a renowned e-commerce giant, announced the launch of its new generative AI-powered feature for personalized gift ideas. The new feature is called Gift Mode.
• In August 2023, Hershey India, a renowned provider of sweets and chocolates, announced the launch of its new personalized gift packs for the occasion of Raksha Bandhan in India.
• Dudu’s Online, an online gift store based in India, announced the launch of its customizable Diwali gifts back in October 2022.
• In July 2022, Etsy debuted a new Seller app streamlining online purchases for customers, enhancing accessibility and convenience, thereby fortifying its position as a user-centric e-commerce platform dedicated to customer satisfaction.

Considered in this report
• Historic Year: 2018
• Base year: 2023
• Estimated year: 2024
• Forecast year: 2029

Aspects covered in this report
• Personal Gifting Market with its value and forecast along with its segments
• Region & country wise Personal Gifting market analysis
• Application wise Personal Gifting distribution
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Type
• Non-photo Personalized Gifts
• Photo Personalized Gifts

By Distribution Channel
• Online
• Offline

By End User
• Women
• Unisex
• Men

The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, annual report of companies, analyzing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources.

Intended audience
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to agriculture industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.

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