Key Takeaways
- The global gifting market was valued at USD 755.46 billion in 2023, projected to reach USD 1,238.32 billion by 2030, growing at a CAGR of 7.2% from 2024 to 2030.
- U.S. gifting industry retail sales hit $24.5 billion during the 2022 holiday season, up 5% from 2021.
- Corporate gifting market globally valued at $242 billion in 2022, expected to grow to $357 billion by 2028 at 6.6% CAGR.
- 68% of U.S. consumers plan to gift experiences over physical items in 2024, up from 55% in 2020.
- 74% of millennials prefer personalized gifts, spending 20% more on them annually.
- 42% of global consumers cite sustainability as top factor in gift selection in 2023 surveys.
- Jewelry accounted for 28% of total gifting sales in 2023 globally, with diamond rings leading at $45 billion.
- Chocolates and confectionery gifts generated $52 billion in 2023, 15% from premium brands.
- Beauty and cosmetics kits made up 22% of women's gifts, totaling $38 billion worldwide.
- North America holds 35% of global gifting market share in 2023, valued at $264 billion.
- Asia-Pacific region grew fastest at 8.5% CAGR 2018-2023, led by China and India.
- U.S. millennials (25-40) represent 45% of gifting spenders, averaging $450/year.
- Global gifting market projected to grow at 7.8% CAGR to $1.5 trillion by 2032.
- E-commerce gifting expected to reach 50% market share by 2028 from 35% in 2023.
- AI-personalized gifts to capture 25% of market by 2030, $300 billion value.
The global gifting market is growing robustly, led by online sales and personalized trends.
Consumer Behavior and Preferences
- 68% of U.S. consumers plan to gift experiences over physical items in 2024, up from 55% in 2020.
- 74% of millennials prefer personalized gifts, spending 20% more on them annually.
- 42% of global consumers cite sustainability as top factor in gift selection in 2023 surveys.
- Women account for 62% of all gifting purchases worldwide, men 38% per 2023 data.
- 55% of shoppers use social media for gift ideas, 28% buy directly from Instagram in 2023.
- Average U.S. consumer spends $150 on birthday gifts yearly, $300 on holiday gifts.
- 61% of Gen Z prioritize tech gadgets as gifts, vs. 35% for Boomers.
- 49% of consumers regift items annually, mostly clothing and books.
- 72% of parents gift educational toys to kids under 10, per 2023 parent polls.
- 38% of Europeans prefer local artisan gifts to support small businesses in 2023.
- 67% of online shoppers abandon carts due to high gift shipping costs.
- 53% of consumers seek last-minute digital gifts, 80% via mobile apps.
- Hispanic consumers in U.S. spend 25% more on family gifting during holidays.
- 44% of Boomers prefer cash gifts over physical items.
- 59% of urban Indians gift sweets during festivals, 70% via delivery apps.
- 51% of consumers read reviews before buying gifts online.
- 65% of couples co-gift for weddings, splitting costs equally.
- 47% avoid gifting alcohol due to health trends in 2023.
- 76% of pet owners gift pet products, averaging $75 per occasion.
- 62% of shoppers use wishlists for holiday gifting coordination.
- 39% of low-income households prioritize practical gifts like kitchenware.
- 70% of LGBTQ+ consumers seek inclusive branding in gifts.
- 48% delay gifting purchases waiting for sales events like Black Friday.
- 55% of seniors prefer sentimental photo gifts or albums.
- 64% of foodies gift gourmet subscription boxes annually.
- 41% of gamers request gaming accessories as top gifts.
- 69% of fitness enthusiasts gift wearables like Fitbits.
- 52% of book lovers prefer e-books as gifts for convenience.
- 57% of travelers gift travel vouchers post-pandemic.
- 73% of parents under 35 gift STEM toys to promote learning.
Consumer Behavior and Preferences Interpretation
Market Size and Revenue
- The global gifting market was valued at USD 755.46 billion in 2023, projected to reach USD 1,238.32 billion by 2030, growing at a CAGR of 7.2% from 2024 to 2030.
- U.S. gifting industry retail sales hit $24.5 billion during the 2022 holiday season, up 5% from 2021.
- Corporate gifting market globally valued at $242 billion in 2022, expected to grow to $357 billion by 2028 at 6.6% CAGR.
- Online gifting segment accounted for 35% of total gifting market revenue in 2023, totaling $264 billion worldwide.
- Personalized gifts sub-market grew to $31.2 billion in 2023, with 12% YoY increase driven by customization tech.
- Holiday gifting (Christmas, Thanksgiving) represented 48% of annual gifting spend in the U.S., equating to $130 billion in 2023.
- Experiential gifting market size was $189 billion globally in 2022, forecasted to hit $285 billion by 2030 at 5.3% CAGR.
- U.K. gifting market valued at £28 billion in 2023, with e-gifting comprising 22% of total sales.
- India's gifting industry reached INR 1.2 trillion in 2023, boosted by festivals like Diwali contributing 60%.
- Subscription box gifting services generated $10.5 billion in revenue worldwide in 2023, up 18% from prior year.
- Global luxury gifting market stood at $112 billion in 2023, with jewelry segment at 40% share.
- China's gifting e-commerce market hit CNY 500 billion in 2023, growing 15% YoY via platforms like Tmall.
- Pet gifting products market valued at $8.7 billion globally in 2023, CAGR 9.1% to 2030.
- Europe gifting market size $210 billion in 2023, led by Germany at 25% regional share.
- Gift card market globally reached $1.2 trillion in transaction value in 2023, digital cards 52%.
- Sustainable/eco-friendly gifts segment worth $45 billion in 2023, projected 11% CAGR to 2030.
- Australia gifting retail sales totaled AUD 12.5 billion in 2023 holiday period.
- B2B gifting platform market valued at $15 billion in 2023, SaaS models driving 20% growth.
- Japan omiyage (souvenir gifting) market size ¥1.8 trillion in 2023.
- Food and beverage gifting category generated $98 billion globally in 2023.
- Brazil gifting market reached BRL 150 billion in 2023, e-commerce up 25%.
- Wellness gifting products (spa kits, etc.) $22 billion market in 2023.
- Middle East gifting market $35 billion in 2023, UAE leading at 40%.
- Tech gadgets gifting sales $67 billion worldwide in 2023 holiday season.
- Africa emerging gifting market $12 billion in 2023, Nigeria 30% share.
- Canada gifting industry $45 billion CAD in 2023, online 38%.
- Gift wrapping services market $5.2 billion globally in 2023.
- South Korea beauty gifting box sales KRW 3 trillion in 2023.
- Russia gifting market RUB 1.5 trillion in 2023 despite economic pressures.
- Global kids' gifting toys segment $105 billion in 2023.
Market Size and Revenue Interpretation
Product and Service Categories
- Jewelry accounted for 28% of total gifting sales in 2023 globally, with diamond rings leading at $45 billion.
- Chocolates and confectionery gifts generated $52 billion in 2023, 15% from premium brands.
- Beauty and cosmetics kits made up 22% of women's gifts, totaling $38 billion worldwide.
- Home decor items represented 18% of gifting market, $32 billion, vases and candles top sellers.
- Toys and games segment hit $110 billion in 2023, board games up 12%.
- Apparel and accessories 16% share, $28 billion, scarves and hats popular for holidays.
- Gift cards dominated at 25% of market value, $300 billion issued in 2023.
- Flowers and plants gifting $19 billion, bouquets 70% of sales via online.
- Books and stationery $15 billion segment, personalized notebooks rising.
- Electronics gadgets 20% share, $55 billion, earbuds leading at 30% subcategory.
- Wine and spirits gifting $42 billion, personalized bottles 18% growth.
- Kitchenware and cookware 12%, $21 billion, air fryers top in 2023.
- Pet products $9 billion, toys 40%, treats 35% breakdown.
- Wellness items like candles and oils $18 billion, aromatherapy kits popular.
- Sports equipment gifting $14 billion, yoga mats up 22%.
- Art and craft supplies $7.5 billion for hobbyists.
- Baby products gifting $25 billion, clothes 45% share.
- Travel accessories $11 billion, luggage tags and adapters top.
- Gaming consoles and accessories $22 billion in holiday gifting.
- Sustainable toys from recycled materials $4.2 billion subcategory.
- Gourmet food baskets $16 billion, cheese and charcuterie leading.
- Personalized mugs and drinkware $3.8 billion.
- Handbags and wallets 9% of luxury gifting, $18 billion.
- Musical instruments gifts $2.5 billion, ukuleles trending.
- Gardening kits $5.1 billion for home growers.
- Office supplies gifting $4.3 billion in corporate.
Product and Service Categories Interpretation
Regional and Demographic Insights
- North America holds 35% of global gifting market share in 2023, valued at $264 billion.
- Asia-Pacific region grew fastest at 8.5% CAGR 2018-2023, led by China and India.
- U.S. millennials (25-40) represent 45% of gifting spenders, averaging $450/year.
- Germany gifting market 22% of Europe, €55 billion, strong in personalized items.
- Urban Chinese consumers 18-35 age group account for 55% of e-gifting volume.
- U.K. women over 50 contribute 28% of traditional gifting sales.
- Brazil's Northeast region sees 40% higher festival gifting per capita.
- Gen Z in Australia (18-24) prefer digital gifts 65% of time.
- India's Tier 2 cities gifting spend up 30% YoY, matching metros.
- France luxury gifting highest in Paris, 60% of national total.
- African-Americans in U.S. spend 35% more on holiday family gifts.
- Japan elderly (65+) 32% of omiyage gifting market.
- Canada rural areas 20% higher experiential gifting rates.
- Middle East expats drive 50% of UAE gifting imports.
- South Korea's 20-30s gift K-beauty products 70% domestically.
- Mexico family gifting peaks in urban households, 75% participation.
- Russia urban millennials 48% of online gifting users.
- Southeast Asia (Indonesia, Thailand) youth under 25, 60% impulse gifting.
- Italy Southern regions 25% higher food gifting traditions.
- Saudi Arabia women 55% of total gifting decisions.
- Spain Gen X (45-60) lead corporate gifting at 40% share.
- Turkey urban professionals 18-35, 52% e-gifting preference.
- Sweden eco-conscious demographics (30-50) 68% sustainable gifts.
- Philippines OFW remittances boost family gifting by 40%.
- Netherlands high-income households 70% experiential gifts.
- Vietnam millennials drive 65% festival gifting spend.
Regional and Demographic Insights Interpretation
Trends and Projections
- Global gifting market projected to grow at 7.8% CAGR to $1.5 trillion by 2032.
- E-commerce gifting expected to reach 50% market share by 2028 from 35% in 2023.
- AI-personalized gifts to capture 25% of market by 2030, $300 billion value.
- Sustainable gifting projected to grow 12% annually to $100 billion by 2030.
- Corporate gifting via apps to hit $500 billion by 2027.
- VR/AR gift experiences market to $50 billion by 2029.
- Subscription gifting services forecasted 22% CAGR to $25 billion by 2030.
- NFT digital gifts to reach $10 billion transaction volume by 2028.
- Health-tech wearables in gifting up 15% YoY to 2030.
- Zero-waste packaging to be standard in 60% gifts by 2035.
- Metaverse gifting platforms projected $20 billion by 2030.
- Cross-border gifting e-com to $150 billion by 2027.
- Elderly care gift kits market to $30 billion by 2032.
- Pet tech gifts (trackers) 18% CAGR to $15 billion.
- Food delivery gifting to double to $80 billion by 2028.
- Luxury resale gifting platforms $40 billion by 2030.
- Kids' edutainment gifts to $50 billion by 2029.
- Blockchain verified authentic gifts 30% adoption by 2030.
- Home automation gifts market $35 billion by 2028.
- Wellness retreats gifting $25 billion projection 2030.
- Gamified gifting apps users to 1 billion by 2030.
- Vegan/plant-based gift foods 20% CAGR to $20 billion.
- Custom 3D printed gifts $12 billion by 2029.
- Social commerce gifting sales $100 billion by 2027.
- Inclusive diverse gifts 40% market penetration by 2035.
- Drone delivery for gifts routine by 2030, 15% volume.
- Mental health gift boxes $10 billion market by 2028.
- Eco-tourism vouchers gifting $18 billion by 2032.
- Voice-activated gift assistants in 50% smart homes by 2030.
- Hyper-local artisan gifting platforms $15 billion by 2029.
- Post-pandemic travel gifting rebound to $60 billion annually by 2027.
Trends and Projections Interpretation
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