Research Expert: Sarah Overall
  • Published: Feb 2025
  • Pages: 150
  • SKU: IRTNTR70510

  • Latest News- Gifts Novelty And Souvenirs Market: S and N items is expected to lead the Product segment during 2025-2029

    The Gifts Novelty And Souvenirs Market is being driven by Technological advances leading to product innovation and premiumization

    The Gifts Novelty And Souvenirs Market is expected to grow at a CAGR of 4.6% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 20.32 billion. In the dynamic gifts and souvenirs market, personalization has emerged as a significant trend, driving sales growth and fostering long-term customer relationships. Small retailers benefit from offering personalized gifts, as they add value to standard items and make customers feel special. Popular occasions for personalized gifts include retirements, promotions, birthdays, New Years Eve, and International Women's Day. To cater to this increasing demand, major players such as Cimpress, Hallmark, and Card Factory have introduced dedicated personalization segments for their gift offerings. This strategic move not only enhances customer satisfaction but also positions these companies as innovative market leaders. 

    Get more information on Gifts Novelty And Souvenirs Market by requesting a sample report

    Which Factors Are Causing a Surge in Market Growth?

    The market is segmented based on segments_for_ai.nslist

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

    • Technological advances leading to product innovation and premiumization
    • Growing culture of gifting
    • Increase in in-bound international tourism propelling sales of gift items

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

    • Availability of alternate products for social expression
    • Seasonal nature of gifts novelty and souvenirs business
    • Highly complex inventory, supply chain, and merchandising management

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    Market Scope in Gifts Novelty And Souvenirs Market Research Report

    Market Scope

    Report Coverage

    Details

    Page number

    221

    Base year

    2024

    Historic period

    2019-2023

    Forecast period

    2025-2029

    Growth momentum & CAGR

    Accelerate at a CAGR of 4.6%

    Market growth 2025-2029

    USD 20.32 billion

    Market structure

    Fragmented

    YoY growth 2024-2025(%)

    4.2

    Key countries

    US, Germany, China, Canada, UK, France, Italy, India, Japan, and Australia

    Competitive landscape

    Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks

    Request Free Sample

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

    Research Analysis Overview

    The global market for Gifts, Novelty And Souvenirs reached USD 97780 million in 2021. This market encompasses various items including souvenirs, novelty items, seasonal decorations, greeting cards, giftware, and trinkets. The industry caters to customers seeking mementos of culture, landmarks, curiosities, humor, and fun. With the rise of COVID-19 pandemic, travel and tourism took a hit, leading to an expansion of e-commerce platforms for these items. Specialization in areas like humor, customization, and memories continues to fuel consumer desires and interests. Marketplace for gifts now extends beyond local shops to worldwide tourism sites and internet shopping sites, offering past experiences and laughter in a click.

    Market Research Overview

    The global market for Souvenirs, Novelty items, Seasonal decorations, Greeting cards, and Giftware, a segment of the larger apparel, accessories, and luxury goods industry, is projected to reach USD 97780 million by 2025, according to Technavio's market research. Key drivers for this growth include the expanding working population and subsequent increase in disposable income, particularly in emerging economies. The COVID-19 pandemic and the subsequent shift to e-commerce have also significantly impacted market dynamics. This market encompasses companies involved in the manufacturing and marketing of textiles, apparel, footwear, accessories, and luxury goods, excluding shoe manufacturers. The personalization trend and the revival of travel and tourism are additional growth factors.. 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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