Gift Cards Global Market Opportunities And Strategies To 2034

The gift cards market is segmented by type into universal accepted open loop, sports gift card, e-gifting, restaurant closed loop, retail closed loop and miscellaneous closed loop. The retail closed loop market was the largest segment of the gift cards market segmented by type, accounting for 31.59% or $409.43 billion of the total in 2024. Going forward, the e-gifting segment is expected to be the fastest growing segment in the gift cards market segmented by type, at a CAGR of 28.43% during 2024-2029.

The gift cards market is segmented by price range into low (0-200 US$), medium (200-400 US$) and high (above 400 US$). The medium (200-400 US$) market was the largest segment of the gift cards market segmented by price range, accounting for 48.07% or $622.97 billion of the total in 2024. Going forward, the high (above 400 US$) segment is expected to be the fastest growing segment in the gift cards market segmented by price range, at a CAGR of 16.39% during 2024-2029.

The gift cards market is segmented by application personal finance, marketing and promotions, hospitality and travel, education, non-profit and charity and other applications. The personal finance market was the largest segment of the gift cards market segmented by application, accounting for 38.83% or $503.32 billion of the total in 2024. Going forward, the hospitality and travel segment is expected to be the fastest growing segment in the gift cards market segmented by application, at a CAGR of 20.39% during 2024-2029.

The gift cards market is segmented by end user into retail establishment and corporate institutions. The medium (200-400 US$) market was the largest segment of the gift cards market segmented by end user, accounting for 69.18% or $896.57 billion of the total in 2024. Going forward, the corporate institutions segment is expected to be the fastest growing segment in the gift cards market segmented by end user, at a CAGR of 16.30% during 2024-2029.

North America was the largest region in the gift cards market, accounting for 37.85% or $490.58 billion of the total in 2024. It was followed by Asia Pacific, Western Europe and then the other regions. Going forward, the fastest-growing regions in the gift cards market will be Asia Pacific and Eastern Europe where growth will be at CAGRs of 18.52% and 16.01% respectively. These will be followed by Middle East and Africa where the markets are expected to grow at CAGRs of 15.37% and 15.09% respectively.

The global gift cards market is highly fragmented, with a large number of small players operating in the market. The top ten competitors in the market made up to 3.67% of the total market in 2024. Amazon.com Inc. was the largest competitor with a 1.91% share of the market, followed by Walmart Inc. with 0.32%, Apple Inc. with 0.30%, Starbucks Corporation with 0.29%, Blackhawk Network Holdings Inc. with 0.17%, Target Corporation. with 0.16%, Google LLC (Alphabet Inc.) with 0.16%, The Home Depot Inc. with 0.12%, American Express Company with 0.12% and Best Buy Co. Inc. with 0.12%.

The top opportunities in the gift cards markets segmented by type will arise in the e-gifting segment, which will gain $688.47 billion of global annual sales by 2029. The top opportunities in the gift cards markets segmented by price range will arise in the medium (200-400 US$) segment, which will gain $619.19 billion of global annual sales by 2029. The top opportunities in the gift cards markets segmented by application will arise in the personal finance segment, which will gain $466.83 billion of global annual sales by 2029. The top opportunities in the gift cards markets segmented by end user will arise in the retail establishment segment, which will gain $889.12 billion of global annual sales by 2029. The gift cards market size will gain the most in USA at $421.16 billion.

This report describes and explains the gift cards market and covers 2019-2024, termed the historic period, and 2024-2029, 2034F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.

The global gift cards market reached a value of nearly $1.29 trillion in 2024, having grown at a compound annual growth rate (CAGR) of 15.05% since 2019. The market is expected to grow from $1.29 trillion in 2024 to $2.63 trillion in 2029 at a rate of 15.25%. The market is then expected to grow at a CAGR of 14.66% from 2029 and reach $5.22 trillion in 2034.

Growth in the historic period resulted from the rising food service sector, increasing growth of the retail sector, favorable government initiatives and surge in online shopping and e-commerce. Factors that negatively affected growth in the historic period were limited consumer awareness and fraud and theft concerns.

Going forward, rise in prepaid and reloadable cards, rising popularity of personalized gift options, rise in globalization and cross-border gifting and consumer preference for cashless gifting options will drive the growth. Factor that could hinder the growth of the gift cards market in the future include increased competition from alternative payment methods and limited expiry dates.

Market-trend-based strategies for the gift cards market include developing innovative AI-powered platforms, strategic investments to expand their digital and e-gift card offerings, development of innovative digital gift cards, strategic partnerships approach to develop advanced solutions, innovative solutions like customizable and animated e-gift cards to elevate the digital gifting experience and developing innovative crypto cards.

Player-adopted strategies in the gift cards market include focus on strengthening its business operations through new partnerships.

To take advantage of the opportunities, the analyst recommends the gift cards market companies to focus on AI-driven personalization and operational efficiency, focus on strategic investment in digital and blockchain gift card solutions, focus on enhancing consumer experience through customizable digital gift cards, focus on enhancing digital gifting through customizable e-gift cards, focus on leveraging crypto gift cards to expand market reach, focus on expanding in the e-gifting segment to capture high growth, focus on the high-value gift card segment for growth, expand in emerging markets, focus on strategic partnerships to expand capabilities and market reach, focus on competitive and value-based pricing to maximize gift card sales, leverage digital channels for targeted and measurable promotion, combine offline and online efforts to enhance brand visibility and trust, focus on hospitality and travel segment for accelerated growth and focus on prioritizing corporate institutions for accelerated growth.

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