Key Influencer in the Gift Cards Market 2025: The Steadily Rising Foodservice Sector Drives Growth In The Gift Cards Market Driver

What combination of drivers is leading to accelerated growth in the gift cards market?
The expansion of the food service sector is expected to contribute to the growth of the gift cards market. The food service sector includes businesses like restaurants, cafeterias, catering services, and food trucks, which are growing due to demand for convenient dining, healthier food options, and increased urbanization. Gift cards serve as a valuable tool in this sector, encouraging customer loyalty, attracting new patrons, boosting cash flow, and enhancing brand visibility. According to the U.S. Census Bureau in June 2024, U.S. retail and food service sales reached $704.3 billion, up 2.3% from the previous year. Therefore, the growth of the food service sector is driving the gift cards market.

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What is the projected compound annual growth rate (CAGR) of the gift cards market from 2025 to 2034, and what factors influence it?
The gift cards market has seen rapid growth. It is projected to grow from $1296.06 billion in 2024 to $1542.41 billion in 2025, at a CAGR of 19.0%. This growth is attributed to the rise in e-commerce, increased consumer disposable income, growing mobile payment adoption, a higher demand for personalized gift options, and a surge in demand for contactless payments.

The gift cards market is expected to reach $3053.92 billion by 2029, growing at a CAGR of 18.6%. Growth is due to digital wallet adoption, mobile commerce rise, corporate rewards programs, e-gifting trends, and increasing smartphone penetration. Major trends include blockchain integration, AI for personalization, eco-friendly options, retail-fintech partnerships, and social media gift card promotions.

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How are the latest trends influencing the growth of the gift cards market?
Companies in the gift cards market are introducing innovative solutions like customizable and animated e-gift cards to enhance the digital gifting experience. These e-gift cards can be personalized with messages, images, and animations, providing a more engaging experience. For example, in October 2023, Givex Corp., a Canada-based fintech company, launched customizable and animated e-gift cards, allowing users to create personalized, animated cards that can surprise and delight recipients.

What are the major segments of the gift cards market and their role in driving growth?
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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Which geographical regions are pioneering growth in the gift cards market?
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.

Who are the key firms paving the way for growth in the gift cards market?
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.

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What Is Covered In The Gift Cards Global Market Report?

•Market Size Forecast: Examine the gift cards market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the gift cards market for a structured understanding.
•Key Players Overview: Analyze major players in the gift cards market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the gift cards market.
•Segment Contributions: Evaluate how different segments drive overall growth in the gift cards market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the gift cards market.
•Industry Challenges: Identify potential risks and obstacles affecting the gift cards market.
•Competitive Landscape: Review strategic developments in the gift cards market, including expansions, agreements, and new product launches.

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