Gift Card Market to Reach $1,472.7 Billion by 2032, Driven by Rising Demand for Flexible and Personalized Gifting Solutions

The global gift card market is witnessing remarkable growth, with a projected market size of $646.12 billion in 2025, expected to rise at a CAGR of 14.3% to reach $1,472.7 billion by 2032. This growth is propelled by the increasing adoption of gift cards as flexible, convenient, and personalized gifting solutions. The expanding e-commerce ecosystem, rising consumer preferences for experiential gifts, and innovations in gift card designs are further fueling market dynamics.

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Key Market Highlights
E-Gift Cards Dominate with 60% Market Share in 2023

The surge in e-gift card popularity is attributed to internet shopping and mobile payment systems.
Sales of digital gift cards during Black Friday 2023 rose by 15% year-over-year, driven by promotions from retailers like Amazon, Walmart, and Starbucks.
Growing Consumer Demand for Experiential Gifting

Nearly 45% of millennials prefer experiential gifts, such as restaurant gift cards, underscoring changing consumer preferences.
Restaurant aggregators like DoorDash and Uber Eats hold a 28.1% market share in 2024 with closed-loop gift cards.
Corporate Adoption Enhances Market Penetration

Businesses increasingly use gift cards for employee rewards and customer loyalty programs.
North America leads in this domain, with 64% of U.S. consumers purchasing gift cards during the holiday season in 2023.
Regional Market Dynamics
North America: Driving Growth with Digital Solutions
North America is expected to account for 35% of the global market share in 2024, growing at a CAGR of 11.5% through the forecast period.

Companies like Starbucks are leading the charge in adopting personalized digital gift cards.
Non-cash incentives such as gift cards and reward points are widely used in the corporate sector to foster employee engagement and supplier relationships.
Europe: Sustainability in Focus
Europe is anticipated to capture 29% of the market share in 2024, driven by the growing emphasis on eco-friendly gifting solutions.

Companies like Wedoogift are introducing recycled PVC and paper-based gift cards to meet consumer demand for sustainable products.
Digital gift cards are gaining traction as an environmentally responsible alternative.
Segmental Insights
Department Stores Lead with 40% Market Share
Department stores are anticipated to dominate the market in 2024, leveraging their ability to offer a diverse range of gift cards and exclusive discounts.

Retail giants like Walmart and Target are integrating gift cards into holiday promotions to meet rising consumer demand.
Online Channels Revolutionize Gifting
Online sales channels are expected to account for 45% of the market share in 2024, driven by the growing preference for instant gifting solutions.

Leading players, including Amazon and Apple, are enhancing online platforms to offer customizable and secure digital gift card solutions.
Market Trends and Innovations
Rise of Mobile-Friendly Payment Systems

Gift cards are increasingly managed through smartphone apps like Google Pay and Gyft, offering features such as expiration tracking and online purchases.
Holiday Sales Boost Adoption

Starbucks reported $3.3 billion in revenue from gift card sales during its fiscal first quarter of 2023, showcasing the effectiveness of gift cards in driving holiday purchases.
Breakage Revenue Drives Profitability

Companies are benefiting from "breakage," or unredeemed balances, which contribute to additional revenue streams.
Future Outlook
The global gift card market is poised for significant growth, driven by rising consumer demand for versatile gifting solutions and increasing corporate adoption. As sustainability gains prominence, eco-friendly and digital gift cards are expected to redefine the industry landscape. The market is also likely to witness heightened innovation in personalization, enhancing consumer appeal across diverse demographics.

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About the Global Gift Card Market Report
The report provides a comprehensive analysis of the gift card market, including historical data from 2019 to 2023 and future projections through 2032. It explores key market drivers, restraints, opportunities, and regional dynamics, offering insights into evolving consumer preferences and technological advancements shaping the industry.

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