The India gift cards market is expected to grow at a CAGR of 18.00 % in the forecast period of 2025-2034.
Rising Demand for Digital Gift Cards Owing to Rapid Digitalisation in India to Bolster the Growth of the Gift Cards Industry
Based on product, the digital gift card segment is likely to occupy a significant share in the market over the forecast period. This can be attributed to the growing internet penetration and the adoption of smart electronic devices such as smartphones, and tablets, among others in the region. The growing digitalisation across the country has led to the emergence of digitalised payments, especially in the retail sector. The growing usage of mobile applications for shopping and payments is likely to bolster the demand for e-gifting among consumers, thus, aiding the overall market growth.
Growing Inclination Towards Health, Wellness, and Beauty to Bolster the Gift Cards Industry Growth in India
The health, wellness, and beauty segment, among other applications of the product, is likely to witness a healthy growth in the forecast period. This can be attributed to the rising disposable income and the growing inclination of consumers towards health and well-being in India. Moreover, the growth of the e-commerce industry in the country is expected to provide a further impetus to the growth of the segment.
The India gift cards industry is driven by the rising demand for convenient gifting options in the corporate sector to engage with partners and employees. The growing partnership between brands and corporates to build brand awareness and strengthen the business strategy by providing diversified purchasing options to the consumers is aiding the market growth. The gift cards enhance customer engagement effectively, which is a crucial component of expansion for any corporate firm. The market growth will further be aided by the easy transactions offered by the digital gift cards and the rapid digitalisation, which will spread awareness about the various benefits of the product. Furthermore, the rising applications of gift cards in the food and beverages, health, wellness and beauty, apparel, and footwear and accessories, among other sectors are expected to provide a further impetus to the market growth.
Rising Demand for Digital Gift Cards Owing to Rapid Digitalisation in India to Bolster the Growth of the Gift Cards Industry
Based on product, the digital gift card segment is likely to occupy a significant share in the market over the forecast period. This can be attributed to the growing internet penetration and the adoption of smart electronic devices such as smartphones, and tablets, among others in the region. The growing digitalisation across the country has led to the emergence of digitalised payments, especially in the retail sector. The growing usage of mobile applications for shopping and payments is likely to bolster the demand for e-gifting among consumers, thus, aiding the overall market growth.
Rising Popularity of Closed-Loop Cards to Augment the India Gift Cards Industry Growth
On the basis of card type, closed-loop cards accounted for a significant share in the industry and are likely to occupy a considerable market share over the forecast period. The growth can be attributed to the free activation benefits provided by the closed-loop cards to the users.Growing Inclination Towards Health, Wellness, and Beauty to Bolster the Gift Cards Industry Growth in India
The health, wellness, and beauty segment, among other applications of the product, is likely to witness a healthy growth in the forecast period. This can be attributed to the rising disposable income and the growing inclination of consumers towards health and well-being in India. Moreover, the growth of the e-commerce industry in the country is expected to provide a further impetus to the growth of the segment.
Gift Cards: Market Segmentation
A gift card refers to a smart card that can be exchanged for a specified cash value of goods or services. It is basically a prepaid debit card in the form of a smart card, which contains a specific amount of money available for use for a variety of purchases.Based on card type, the market is divided into:
- Closed-Loop Card
- Open-Loop Card
On the basis of product, the industry is segmented into:
- Digital Gift Card
- Physical Gift Card
The industry, on the basis of business type, can be divided into:
- Business to Business (B2B)
- Business to Consumer (B2C)
The significant applications of the product include:
- Food and Beverages
- Health, Wellness, and Beauty
- Apparel, Footwear, and Accessories
- Books and Media Products
- Consumer Electronics
- Restaurants and Bars
- Kids Products
- Others
The various distribution channels of the product include:
- Retail
- Corporate
- Others
The India gift cards industry is driven by the rising demand for convenient gifting options in the corporate sector to engage with partners and employees. The growing partnership between brands and corporates to build brand awareness and strengthen the business strategy by providing diversified purchasing options to the consumers is aiding the market growth. The gift cards enhance customer engagement effectively, which is a crucial component of expansion for any corporate firm. The market growth will further be aided by the easy transactions offered by the digital gift cards and the rapid digitalisation, which will spread awareness about the various benefits of the product. Furthermore, the rising applications of gift cards in the food and beverages, health, wellness and beauty, apparel, and footwear and accessories, among other sectors are expected to provide a further impetus to the market growth.
Key Industry Players in the India Gift Cards Market
The report gives a detailed analysis of the following key players in the India gift cards market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:- Plasto Cards Private Limited
- Creative Cards & Solutions
- Creation Technics India Private Limited
- Plastic Loyalty Cards
- Arahan Infotech
- Others
Table of Contents
1 Executive Summary
2 Market Overview and Stakeholder Insights
3 Economic Summary
4 Country Risk Profiles
5 India Gift Cards Market Analysis
6 Market Dynamics
8 Competitive Landscape
Companies Mentioned
The key companies featured in this India Gift Cards market report include:- Plasto Cards Private Limited
- Creative Cards & Solutions
- Creation Technics India Private Limited
- Plastic Loyalty Cards
- Arahan Infotech
