With the global promotional products market forecast to reach $26.0 billion in 2024 after 5.7% year over year growth, this post breaks down the key numbers behind everything from advertising specialties to sustainability and personalization trends shaping what brands will spend next.
Key Takeaways
- 5.7% year-over-year growth for the global promotional products market is forecast for 2024
- $26.0 billion projected global spend on promotional products in 2024 (including promotional gifts and souvenirs)
- $24.0 billion global promotional gifts and souvenirs market in 2023 (market size estimate)
- 51% of global marketers said they plan to increase spending on personalization (survey estimate)
- 62% of marketers said personalization increases customer engagement (survey estimate)
- 70% of marketers say personalization increases revenue (survey estimate)
- 28% of marketers said they use web-to-print portals to manage promotional campaigns (survey statistic)
- 22% of marketers said automation reduces administrative effort in promotional campaigns (survey statistic)
- 31% of marketers said improved artwork approval workflows reduce revisions (survey statistic)
- In 2023, the U.S. unemployment rate averaged 3.6% (macro labor conditions affecting industry staffing costs)
- In 2023, U.S. average hourly earnings for production and nonsupervisory employees increased 4.1% year over year (wage pressure affecting promo manufacturing)
- In 2023, U.S. average hourly earnings for printing/related industries increased 4.0% year over year (wage proxy)
Promotional products are set to grow in 2024, driven by personalization and sustainable demand.
Market Size
15.7% year-over-year growth for the global promotional products market is forecast for 2024[1]
Verified2$26.0 billion projected global spend on promotional products in 2024 (including promotional gifts and souvenirs)[1]
Verified3$24.0 billion global promotional gifts and souvenirs market in 2023 (market size estimate)[1]
Verified43.2% CAGR projected for the promotional gifts and souvenirs market over 2024–2029[1]
Directional5$10.2 billion global advertising specialties market size in 2023[2]
Single source6Advertising specialties market is projected to reach $14.0 billion by 2032[2]
Verified7Advertising specialties market projected CAGR of 3.4% during 2024–2032[2]
Verified8$3.7 billion estimated advertising specialties market in North America in 2023[2]
Verified9$5.8 billion estimated advertising specialties market in Europe in 2023[2]
Directional10$1.7 billion estimated advertising specialties market in Asia-Pacific in 2023[2]
Single source11$5.2 billion estimated advertising specialties market in China in 2023[2]
Verified124.5% of global advertising specialties market value is expected to be driven by Asia-Pacific through 2032 (regional share estimate)[2]
Verified132.5% year-over-year increase in U.S. advertising expenditures allocated to promotional products-type spend (forecast estimate)[3]
Verified143.5% expected growth in U.S. advertising in 2024 (forecast estimate)[4]
Directional15In the U.S., advertising spending reached $223.3 billion in 2023 (industry statistic)[5]
Single source16In the U.S., advertising spending is projected to reach $257.2 billion in 2025 (forecast estimate)[6]
VerifiedMarket Size Interpretation
With the global promotional products market forecast to grow 5.7% in 2024 to $26.0 billion, steady expansion of promotional gifts and souvenirs at a 3.2% CAGR through 2029 signals that brands are increasingly allocating consistent budget to these items rather than relying on short term bursts.
Industry Trends
151% of global marketers said they plan to increase spending on personalization (survey estimate)[7]
Verified262% of marketers said personalization increases customer engagement (survey estimate)[7]
Verified370% of marketers say personalization increases revenue (survey estimate)[7]
Verified438% of marketers say they achieved improved ROI from personalization (survey estimate)[7]
Directional525% of marketers use promotional products for trade show participation (survey statistic)[8]
Single source637% of marketers use promotional products for events (survey statistic)[8]
Verified744% of marketers use promotional products for brand awareness (survey statistic)[8]
Verified829% of marketers use promotional products for lead generation (survey statistic)[8]
Verified933% of marketers use promotional products for customer retention (survey statistic)[8]
Directional1028% of marketers use promotional products for employee recognition (survey statistic)[8]
Single source1119% of marketers use promotional products for community involvement/CSR (survey statistic)[8]
Verified1210% of marketers use promotional products for product launches (survey statistic)[8]
Verified1314% of marketers use promotional products for sales promotions (survey statistic)[8]
Verified146% of marketers use promotional products for recruiting (survey statistic)[8]
Directional1522% of marketers said sustainability is a key driver when selecting promotional products (survey statistic)[9]
Single source1639% of marketers said they expect more demand for eco-friendly promotional products (survey statistic)[9]
Verified1731% of marketers said they increased sustainable product sourcing in the last year (survey statistic)[9]
Verified1825% of marketers said recycled materials are a top sustainability attribute (survey statistic)[9]
Verified1918% of marketers said they prioritize items with certifications (survey statistic)[9]
Directional2016% of marketers said packaging reductions are an important sustainability attribute (survey statistic)[9]
Single source2144% of marketers said they want to reduce environmental impact in promotional campaigns (survey statistic)[9]
Verified2212% of marketers said they plan to increase spend on sustainable promotional products by more than 10% (survey statistic)[9]
Verified2321% of buyers said they select promotional items based on the ability to personalize (survey statistic)[8]
Verified2437% of buyers said they want more choices in customization (survey statistic)[8]
Directional2529% of buyers said personalized promotional products are increasing in importance (survey statistic)[8]
Single source2617% of buyers said they use QR codes on promotional items (survey statistic)[8]
Verified2723% of buyers said they use promo items with digital engagement (survey statistic)[8]
Verified2815% of buyers said they use items with augmented reality experiences (survey statistic)[8]
Verified29As of 2024, 18.9% of U.S. adults had a disability status (demographic factor relevant to workforce inclusion practices)[10]
DirectionalIndustry Trends Interpretation
With 70% of marketers reporting that personalization increases revenue, and 51% planning to raise spending on it, personalization is clearly becoming a revenue growth strategy even as sustainable and eco-friendly promotional demand rises, with 44% aiming to reduce environmental impact.
Performance Metrics
128% of marketers said they use web-to-print portals to manage promotional campaigns (survey statistic)[11]
Verified222% of marketers said automation reduces administrative effort in promotional campaigns (survey statistic)[11]
Verified331% of marketers said improved artwork approval workflows reduce revisions (survey statistic)[11]
Verified419% of marketers said they use digital proofing to speed up production timelines (survey statistic)[11]
Directional526% of marketers said they use promotional product CRMs or marketing automation tools (survey statistic)[11]
Single source634% of marketers said they improved tracking of campaign performance (survey statistic)[11]
VerifiedPerformance Metrics Interpretation
Nearly half of marketers are already seeing measurable gains from operational and workflow upgrades, with 34% improving campaign performance tracking and up to 31% reducing revisions through better artwork approval workflows.
Cost Analysis
1In 2023, the U.S. unemployment rate averaged 3.6% (macro labor conditions affecting industry staffing costs)[12]
Verified2In 2023, U.S. average hourly earnings for production and nonsupervisory employees increased 4.1% year over year (wage pressure affecting promo manufacturing)[13]
Verified3In 2023, U.S. average hourly earnings for printing/related industries increased 4.0% year over year (wage proxy)[14]
Verified4U.S. federal minimum wage increased to $7.25/hour (baseline; affects lowest labor costs)[15]
Directional5The U.S. retail inflation rate averaged 3.4% in 2023 (inflation affecting input and freight costs)[16]
Single source6The U.S. CPI for all items increased 4.1% year over year in March 2024 (inflation pressure on promo costs)[17]
Verified7In the U.S., the cost of advertising services rose 4.0% year over year in 2022 (BLS CPI component proxy)[18]
Verified8The U.S. consumer price index for printing and related support activities changed (BLS component series indicator)[16]
VerifiedCost Analysis Interpretation
With wage growth running at about 4.0% to 4.1% in both production and printing-related industries during 2023, and inflation still at 4.1% year over year for the overall CPI in March 2024, promotional merchandise costs appear pressured on both the labor and broader price fronts.
References
- 1reportlinker.com/p06407867/Promotional-Gifts-and-Souvenirs-Market-Size-Share-Trends-Analysis.html
- 2imarcgroup.com/advertising-specialties-market
- 3statista.com/topics/852/advertising/
- 4statista.com/outlook/amo/advertising/united-states
- 5statista.com/statistics/271824/advertising-spending-in-the-united-states/
- 6statista.com/statistics/270972/advertising-spending-in-the-us/
- 7salesforce.com/resources/research-reports/state-of-marketing/
- 8ppai.org/trends/
- 9ppai.org/sustainability/
- 11ppai.org/technology/
- 10cdc.gov/nchs/fastats/disability.htm
- 12bls.gov/news.release/empsit.t05.htm
- 13bls.gov/news.release/empsit.t08.htm
- 14bls.gov/oes/current/oes513999.htm
- 16bls.gov/cpi/
- 17bls.gov/news.release/cpi.htm
- 18bls.gov/cpi/tables/supplemental-files/home.htm
- 15dol.gov/agencies/whd/minimum-wage/history