Latest News- Gift Card Market: E-gifts cards is expected to lead the Type segment during 2025-2029

The Gift Card Market is being driven by Growth of e-commerce sector

The Gift Card Market is expected to grow at a CAGR of 15.4% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 1331.3 billion. In the gift card market, there has been a notable shift towards open-loop cards over closed-loop cards. Open-loop cards, branded with payment card processor networks such as Visa, MasterCard, and American Express, offer greater flexibility and wider acceptance as they are not limited to a specific business. This preference for open-loop cards is driven by their universal acceptance and convenience for customers. InComm, a leading UK-based prepaid product and payments technology company, has been offering the Vanilla Go global open-loop gift card brand since the past five years. Open-loop Mastercard gift cards provide a personalized gifting experience, making them an attractive option for consumers. Vendors continue to innovate in this segment, offering new products that cater to the evolving preferences of customers.

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

Type
- E-gifts cards
- Physical gift cards
Distribution Channel
- Offline
- Online
Card Type
- Closed-loop Card
- Open-loop Card
- Closed-loop Card
- Open-loop Card
End-User
- Individuals
- Corporates
Application
- Retail
- Dining
- Entertainment
Geography
- North America
  - Canada
  - US
- Europe
  - Germany
  - UK
  - France
  - Italy
  - Spain
- APAC
  - China
  - India
  - Japan
  - South Korea
- Middle East and Africa
- South America
  - Brazil

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:

Growth of e-commerce sector
Increase in gifting culture
Gift cards as strategy for brand building

However, the market also witnesses some limitations, which are as follows:

Additional loss of money in using gift cards
Impersonal nature of gift cards
Growing concern related to use of plastics

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Market Scope in Gift Card Market Research Report

Market Scope
Report Coverage	Details
Page number	194
Base year	2024
Historic period	2019-2023
Forecast period	2025-2029
Growth momentum & CAGR	Accelerate at a CAGR of 15.4%
Market growth 2025-2029	USD 1331.3 billion
Market structure	fragmentation
YoY growth 2024-2025(%)	12.1
Key countries	US, China, Germany, Canada, India, South Korea, France, Japan, Italy, Brazil, UAE, UK, Spain, US, UK, Germany, Australia, France, Japan, Canada, China, Saudi Arabia, and Brazil
Competitive landscape	Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks

Find out which segment is leading the market by accessing the free PDF report

Research Analysis Overview

Explore the latest offerings in the gift card industry, including API solutions, robust platforms, advanced software, and comprehensive systems, all enabling personalized gift card experiences for businesses and consumers alike.

Market Research Overview

In the broader context of the global leisure products market, which encompasses categories such as sports equipment, musical instruments, camping equipment, recreational vehicles, bicycles, toys, and other consumer-oriented games, the household durables sector holds a significant position. According to Technavio's market analysis, the household durables market size is determined by the combined revenue generated by manufacturers of household durables, including consumer electronics, home furnishings, homebuilding products, household appliances, houseware and specialties, and leisure products. The market's growth is attributed to several key factors, among which is the increasing trend of health and fitness. With a steady rise over the past decade, health and fitness club memberships continue to grow, and the industry's prospects remain promising. Consequently, the number of health and fitness clubs is also expanding at a rapid pace, contributing to the growth of the leisure products market.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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