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Report Overview

2023

Base Year

2018-2023

Historical Year

2024-2032

Forecast Year

Global Gift Cards Market Outlook

The global gift cards market attained a value of USD 1,128.10 billion in 2023. The market is further expected to grow in the forecast period of 2024-2032 at a CAGR of 16.3% to reach USD 4,399.08 billion by 2032.

Global Gift Cards Market Report Summary Description Value
Base Year USD Billion 2023
Historical Period USD Billion 2018-2023
Forecast Period USD Billion 2024-2032
Market Size 2023 USD Billion 1,128.10
Market Size 2032 USD Billion 4,399.08
CAGR 2018-2023 Percentage XX%
CAGR 2024-2032 Percentage 16.3%
CAGR 2024-2032 - Market by Region Asia Pacific 17.8%
CAGR 2024-2032 - Market by Country India 18.1%
CAGR 2024-2032 - Market by Country Brazil 17.7%
CAGR 2024-2032 - Market by Card Type Open-Loop Card 17.2%
CAGR 2024-2032 - Market by End User Corporate Institutions 17.0%
Market Share by Country 2023 Italy 2.5%

Increasing Demand for Closed-Loop Cards to Augment the Gift Cards Industry Growth

Based on card type, the closed-loop card segment accounted for a significant share in the industry and this trend is expected to continue throughout the forecast period. This is due to a number of advantages, including the ability for businesses to profit from items purchased using these types of cards and the free activation provided to the users, both of which encourage the usage of closed-loop gift cards.

Global Gift Cards Market

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The Asia Pacific to Provide Significant Growth Opportunities to the Global Market for Gift Cards

North America accounted for a significant share in the market during the historical period and is likely to witness a steady growth over the forecast period. This can be attributed to the increased acceptance of technology, increasing penetration of key players, and the presence of well-established hospitality infrastructures in the region. Meanwhile, the Asia Pacific is predicted to witness a healthy growth over the forecast period owing to the ongoing developments in the regional market for gift cards and the growing popularity of e-gifting methods. Moreover, the increasing penetration of smartphones, rising per-capita income, expanding e-commerce sector, and the increasing government initiatives to support the digital payment systems, particularly in emerging economies like India and China, are expected to further bolster the gift cards industry growth in the region.

Gift Cards: Market Segmentation

Gift cards, also known as gift certificates, gift vouchers, and gift tokens, are a type of promotional item offered by a merchant or bank to attract new consumers, raise brand recognition, decrease fraud, and boost sales. Gift cards have become a popular method to send greetings on special occasions or to express gratitude for someone's hard work. Prepaid payment cards holding a set amount of money are known as gift cards.

Global Gift Cards Market by Segment

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The major card types available in the industry are:

  • Closed-Loop Card
  • Open-Loop Card

The market can be broadly categorised on the basis of its end users into:

  • Retail
  • Corporate Institutions 
CAGR 2024-2032 - Market by Country
India 18.1%
Brazil 17.7%
Saudi Arabia 17.5%
UK 16.4%
Australia 15.9%
USA 15.8%
Canada XX%
Germany XX%
France XX%
China XX%
Japan XX%
Mexico XX%
Italy 15.4%

The EMR report looks into the regional markets of the product like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Global Gift Cards Market by Region

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Increasing Use of Smartphones, Along With the Growing Trend of Awarding Gift Cards to Employees in the Corporate Sector to Bolster the Growth of the Global Gift Cards Industry

The gift cards industry is growing due to technological advancements in product offerings, the growing retail sector, and a high rate of smartphone usage. As the number of online shopping platforms grew, so did the number of gift cards purchase from various online platforms for gifting purposes. In addition, the rising practice of using corporate gift cards to thank workers for their efforts and successes is further fuelling the market expansion. Furthermore, increased acceptance of IoT technologies at the household, commercial, and industrial levels, and the rising penetration of m-commerce and e-commerce firms are likely to drive the gift cards industry in the forecast period.

Key Industry Players in the Global Gift Cards Market

The report presents a detailed analysis of the following key players in the global gift cards market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

  • Blackhawk Marketing Services, Inc
  • Fiserv, Inc.
  • American Express Company
  • Givex Corporation
  • Qwikcilver Solutions Pvt Ltd.
  • InComm Payments
  • Others

The comprehensive report looks into the macro and micro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Card Type
  • End User
  • Region
Breakup by Card Type
  • Closed-Loop Card
  • Open-Loop Card
Breakup by End User
  • Retail
  • Corporate Institutions
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Blackhawk Marketing Services, Inc.
  • Fiserv, Inc.
  • American Express Company
  • Givex Corporation
  • Qwikcilver Solutions Pvt Ltd.,
  • InComm Payments
  • Others
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*

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Key Questions Answered in the Report

In 2023, the global gift cards market attained a value of nearly USD 1,128.10 billion.

The market is projected to grow at a CAGR of 16.3% between 2024 and 2032.

The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 4,399.08 billion by 2032.

The growing technological innovations and the increasing penetration of online shopping platforms and e-commerce sector are the major market drivers.

The key trends driving the market include the increasing penetration of smartphones in emerging nations and the growing trend of gifting such cards in the corporate sector.

The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

The significant card types available in the market are closed-loop card and open-loop card.

The significant end users of the product are retail and corporate institutions.

The major players in the market are Blackhawk Marketing Services, Inc, Fiserv, Inc., American Express Company, Givex Corporation, Qwikcilver Solutions Pvt Ltd., and InComm Payments, among others.

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63 Fiona Drive, Tamworth, NSW

+61 448 06 17 27

C130 Sector 2 Noida, Uttar Pradesh 201301

+91-858-608-1494

40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.

+63 287899028, +63 967 048 3306

6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London

+44-753-713-2163

193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City

+84865399124