Report ID: SQMIG15H2060
Report ID:
SQMIG15H2060 |
Region:
Global |
Published Date: March, 2024
Pages:
184
|
Tables:
88 |
Figures:
76
Based on the geography, the global Personalized Gifts market is segmented into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa.
North America, particularly the US, is the largest market for personalized gifts and the Canadian personalized gifts market was the fastest growing market in the region. The U.S. was estimated at US$9 Billion in the year 2022. The region benefits from a strong e-commerce infrastructure, high consumer spending on gifting occasions, and a culture that values individuality and customization. Companies based in North America, such as Etsy, Shutterfly, and Personalization Mall, have established themselves as market leaders with extensive product offerings and widespread brand recognition.
In terms of the fastest-growing region, Asia Pacific is often identified as exhibiting significant growth potential in the personalized gifts market. Rapid urbanization, rising disposable incomes, and increasing adoption of e-commerce platforms are driving demand for personalized gifts in countries such as China, India, and Japan. Moreover, China's personalized gifts market held the largest market share, and India's personalized gifts market was the fastest-growing market in the region. Additionally, a growing trend towards experiential gifting and the popularity of social media influencers promoting personalized products contribute to the region's growth trajectory. Companies operating in Asia Pacific, as well as international brands expanding into the region, are capitalizing on these opportunities to capture market share and drive innovation in the personalized gifts market.
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Report ID: SQMIG15H2060