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Global Gift Cards Market Size, Share, Analysis, Forecast: By Card Type: Closed-Loop Card, Open-Loop Card; By End User: Retail, Corporate Institutions; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis, Key Indicators for Demand, Key Indicators for Price; Value Chain Analysis; Competitive Landscape; 2024-2032
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.
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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.
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.
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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
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.
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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:
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| Breakup by Card Type |
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| Breakup by End User |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Gift Cards Market Analysis
8.1 Key Industry Highlights
8.2 Global Gift Cards Historical Market (2018-2023)
8.3 Global Gift Cards Market Forecast (2024-2032)
8.4 Global Gift Cards Market by Card Type
8.4.1 Closed-Loop Card
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Open-Loop Card
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.5 Global Gift Cards Market by End User
8.5.1 Retail
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Corporate Institutions
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.6 Global Gift Cards Market by Region
8.6.1 North America
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Europe
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Asia Pacific
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.6.4 Latin America
8.6.4.1 Historical Trend (2018-2023)
8.6.4.2 Forecast Trend (2024-2032)
8.6.5 Middle East and Africa
8.6.5.1 Historical Trend (2018-2023)
8.6.5.2 Forecast Trend (2024-2032)
9 North America Gift Cards Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Gift Cards Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Gift Cards Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Gift Cards Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Gift Cards Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 Blackhawk Marketing Services, Inc.
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 Fiserv, Inc.
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 American Express Company
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 Givex Corporation
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 Qwikcilver Solutions Pvt Ltd.,
16.2.5.1 Company Overview
16.2.5.2 Product Portfolio
16.2.5.3 Demographic Reach and Achievements
16.2.5.4 Certifications
16.2.6 InComm Payments
16.2.6.1 Company Overview
16.2.6.2 Product Portfolio
16.2.6.3 Demographic Reach and Achievements
16.2.6.4 Certifications
16.2.7 Others
17 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Gift Cards Market: Key Industry Highlights, 2018 and 2032
2. Global Gift Cards Historical Market: Breakup by Card Type (USD Million), 2018-2023
3. Global Gift Cards Market Forecast: Breakup by Card Type (USD Million), 2024-2032
4. Global Gift Cards Historical Market: Breakup by End User (USD Million), 2018-2023
5. Global Gift Cards Market Forecast: Breakup by End User (USD Million), 2024-2032
6. Global Gift Cards Historical Market: Breakup by Region (USD Million), 2018-2023
7. Global Gift Cards Market Forecast: Breakup by Region (USD Million), 2024-2032
8. North America Gift Cards Historical Market: Breakup by Country (USD Million), 2018-2023
9. North America Gift Cards Market Forecast: Breakup by Country (USD Million), 2024-2032
10. Europe Gift Cards Historical Market: Breakup by Country (USD Million), 2018-2023
11. Europe Gift Cards Market Forecast: Breakup by Country (USD Million), 2024-2032
12. Asia Pacific Gift Cards Historical Market: Breakup by Country (USD Million), 2018-2023
13. Asia Pacific Gift Cards Market Forecast: Breakup by Country (USD Million), 2024-2032
14. Latin America Gift Cards Historical Market: Breakup by Country (USD Million), 2018-2023
15. Latin America Gift Cards Market Forecast: Breakup by Country (USD Million), 2024-2032
16. Middle East and Africa Gift Cards Historical Market: Breakup by Country (USD Million), 2018-2023
17. Middle East and Africa Gift Cards Market Forecast: Breakup by Country (USD Million), 2024-2032
18. Global Gift Cards Market Structure
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.
Analyst Review
The global gift card market attained a value of around USD 1,128.10 billion in 2023, driven by the growing technological advancements and the increasing penetration of online shopping platforms across the continents. Aided by the growing demand in the corporate sector for employee recognition and awards, the market is expected to witness a further growth in the forecast period of 2024-2032, growing at a CAGR of 16.3%. The market is projected to reach USD 4,399.08 billion by 2032.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on card type, the industry can be segmented into closed-loop card and open-loop card. On the basis of end users, the market is divided into retail and corporate institutions. The major regional markets for gift cards are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include Blackhawk Marketing Services, Inc, Fiserv, Inc., American Express Company, Givex Corporation, Qwikcilver Solutions Pvt Ltd., InComm Payments, and others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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