Key Trend Reshaping the Gift Cards Market in 2025: Innovative Customizable E-Gift Cards Enhance The Digital Gift Card Market Experience For Users

What Are the Projections for the Size and Growth Rate of the Gift Cards Market?
In recent years, the market size for gift cards has experienced considerable growth. It's projected to increase from $1296.06 billion in 2024 to $1542.41 billion by 2025, resulting in a compound annual growth rate (CAGR) of 19.0%. The significant growth during the historic period is due to factors such as the rise in e-commerce, higher consumer disposable income, growing adoption of mobile payments, a heightened demand for customized gift alternatives, and an influx in demand for contactless payment options.

The gift cards market is projected to witness a swift expansion in the coming years, surging to $3053.92 billion by 2029 with a compound annual growth rate (CAGR) of 18.6%. This growth in the prediction period can be credited to the widespread use of digital wallets, the growth in mobile commerce, the rising popularity of corporate rewards programs, a noticeable increase in e-gifting trends and the ever-increasing access to the internet and smartphones. Expectations for the prediction period include the incorporation of blockchain technology, the application of artificial intelligence for customization, a rising emphasis on sustainability and eco-friendly alternatives, collaborations between retailers and fintech firms, and an increased use of social media for the promotion of gift cards.

What Are the Forces Behind the Rapid Growth of the Gift Cards Market?
As the food service industry grows, so does the gift cards market. This industry incorporates enterprises that prepare meal and drinks for customers such as restaurants, cafeterias, catering services, and food trucks. The industry's boom is a result of consumers' need for dining convenience, shifts towards healthier and diverse food choices, and urbanization growth. Gift cards play a pivotal role in this industry by improving customer loyalty, gaining new customers, boosting cash flow, and advertising the brand. In June 2024, data from the United States Census Bureau, a federal statistical organization, revealed retail and food services sales in the U.S. amounted to $704.3 billion. This was a 2.3% rise compared to the same period in 2023. Hence, the continuous expansion of the food service sector is fueling the growth of the gift card market.

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Which Businesses Are at the Forefront of Gift Cards Market Development?
Major companies operating in the gift cards market are Amazon.com Inc., Apple Inc., Target Corporation, American Express, Best Buy Co. Inc., Starbucks Coffee Company, PayPal Inc., Fiserv Inc., Block Inc., Worldpay Inc., Corpay Inc., Blackhawk Network, InComm Payments, QwikCilver Solutions Pvt. Ltd., Pine Labs Pvt Ltd, Givex Corp., Paytronix Systems Inc., Plastek Card Solutions Inc., Tendercrop Farms, National Gift Card Corp, Card USA Inc., Tele-Pak Inc., Yiftee Inc., JIFITI, Village Roadshow Ltd., TransGate Solutions, Duracard Plastic Cards, Kindcard Inc.

What Are the Latest Innovations in the Gift Cards Market?
Leading businesses in the gift cards market are putting more emphasis on the creation of innovative features such as customizable and animated e-gift cards. This is geared towards enhancing the digital gift card experience, in line with the changing tastes of consumers. These digital gift cards, which can be customized with personal messages, images, and dynamic graphics, offer a more interactive and distinct gift-giving experience. For example, Givex Corp., a Canadian fintech firm, introduced Customizable and Animated E-Gift Cards in October 2023. This product enables users to personalize and animate their e-gift card deliveries by incorporating personal photos, video messages, and themed designs. As a result, digital gift cards are transformed into memorable keepsakes. Likewise, the e-gift cards can come alive with exciting animations, delivering a delightful surprise in the recipient's inbox. This innovative aspect is consistent with Givex's dedication to continuous innovation and their mission to provide businesses with advanced technology to improve customer experiences.

How Is the Gift Cards Market Segmented?
The gift cards market covered in this report is segmented -

1) By Type: Universal Accepted Open Loop, Sports Gift Card, E-Gifting, Restaurant Closed Loop, Retail Closed Loop, Miscellaneous Closed Loop
2) By Price Range: Low (0-200 US$), Medium (200-400 US$), High (Above 400 US$)
3) By Application: Personal Finance, Marketing And Promotions, Hospitality And Travel, Education, Non-Profit And Charity, Other Applications
4) By End User: Retail Establishment, Corporate Institutions

Subsegments
1) By Universal Accepted Open Loop: Bank-Issued Gift Cards, Prepaid Credit Cards
2) By Sports Gift Card: Team Merchandise Gift Cards, Sports Event Gift Cards
3) By E-Gifting: Digital Gift Codes, Virtual Gift Cards
4) By Restaurant Closed Loop: Fast Food Gift Cards, Fine Dining Gift Cards, Coffee Shop Gift Cards
5) By Retail Closed Loop: Apparel Gift Cards, Electronics Gift Cards, Grocery Store Gift Cards
6) By Miscellaneous Closed Loop: Entertainment Gift Cards, Spa and Wellness Gift Cards, Travel Gift Cards

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Where Is the Gift Cards Market Growth Most Prominent?
North America was the largest region in the gift cards market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the gift cards market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

What Is Covered In The Gift Cards Global Market Report?

- Market Size Analysis: Analyze the Gift Cards Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Gift Cards Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Gift Cards Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Gift Cards Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.

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