Gift Card Market to Reach US$ 1,472.7 Bn by 2032, Growing at a CAGR of 14.3% (2025-2032) | Persistence Market Research

Overview of the Market, Market Statistics, Key Growth Drivers, Leading Segment, and Leading Geographical Region

The global gift card market has seen impressive growth in recent years, with a projected value of US$ 646.12 billion by 2025. This burgeoning market is expected to continue its upward trajectory, reaching US$ 1,472.7 billion by 2032, driven by a robust compound annual growth rate (CAGR) of 14.3% from 2025 to 2032. This growth can be attributed to several factors, including increasing consumer demand for gift cards, technological advancements, and the growing adoption of digital payment systems. The gift card market encompasses a wide range of offerings, including both physical and digital gift cards, catering to various consumer needs such as online shopping, in-store purchases, and entertainment.

Key growth drivers behind this market include the rising trend of e-commerce, where gift cards have become an integral part of online shopping experiences. Additionally, the expansion of digital gift cards, which offer convenience and flexibility, has further fueled market growth. Companies across various sectors, including retail, entertainment, and financial services, are capitalizing on the growing demand for gift cards. The retail segment has been a major driver, with consumers using gift cards as gifts or for personal use. Geographically, North America leads the gift card market, owing to its advanced digital infrastructure and high consumer spending, which facilitates widespread adoption of gift cards.

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✅Key Highlights from the Report:

➤ The global gift card market is projected to grow from US$ 646.12 billion in 2025 to US$ 1,472.7 billion by 2032.
➤ The market is expected to exhibit a robust CAGR of 14.3% from 2025 to 2032.
➤ Digital gift cards are expected to contribute significantly to market growth due to increasing consumer demand for convenience and flexibility.
➤ North America is expected to dominate the market, driven by its advanced digital infrastructure and high consumer spending.
➤ The retail segment remains the largest contributor to the gift card market, driven by consumer demand for both physical and digital gift cards.
➤ Key players in the market include companies such as Amazon, Walmart, and Apple, which offer a wide range of gift card options.

✅Market Segmentation:

The gift card market is segmented into several categories based on product type, end-user, and distribution channel. In terms of product type, gift cards are primarily classified into physical and digital categories. Physical gift cards remain popular due to their tangible nature, which adds a personal touch to gift-giving. However, digital gift cards have gained significant traction in recent years due to their ease of use, faster processing times, and the growing trend of online shopping. Digital gift cards can be delivered via email or through mobile apps, offering convenience and instant gratification to consumers.

End-users of gift cards include individual consumers, businesses, and institutions. Individual consumers constitute the largest segment, purchasing gift cards for personal use or as gifts. Businesses also play a crucial role in the market, using gift cards as incentives, promotional tools, or as a part of employee reward programs. The rise of digital payment methods and mobile wallets has made it easier for businesses to distribute gift cards to customers, further boosting the adoption of gift cards. The distribution channels for gift cards include retail stores, online platforms, and mobile apps. Online platforms and mobile apps are increasingly becoming the preferred channels due to their convenience and accessibility.

✅Regional Insights:

Geographically, North America holds the largest share of the global gift card market. This is primarily due to the region's advanced digital infrastructure, high levels of disposable income, and widespread adoption of e-commerce. The U.S., in particular, is a key market for gift cards, with a large number of consumers preferring them as a gifting option. The presence of major retailers and tech companies that offer gift cards has also contributed to the market's growth in this region.

In addition to North America, the Asia-Pacific region is expected to witness significant growth in the gift card market. The increasing use of smartphones, the rise of e-commerce, and changing consumer preferences are driving the demand for digital gift cards in this region. Countries like China, Japan, and India are at the forefront of this growth, where the younger demographic is particularly fond of using digital gift cards for online shopping, entertainment, and gaming.

Market Drivers

One of the primary drivers of the gift card market is the increasing adoption of e-commerce globally. With the rise of online shopping, consumers are increasingly using gift cards as a convenient payment method. Digital gift cards, in particular, are gaining popularity due to their instant delivery and ease of use. The growing trend of cashless transactions and digital wallets has also contributed to the increased demand for gift cards, as they provide a secure and easy way to make purchases online.

Additionally, gift cards are increasingly being used as promotional tools and incentives by businesses. Companies in various industries, such as retail, travel, and entertainment, use gift cards as part of their loyalty programs or as rewards for customer engagement. This trend is expected to continue as businesses recognize the value of gift cards in driving consumer engagement and sales.

Market Restraints

While the gift card market is growing rapidly, there are some factors that could limit its expansion. One key restraint is the risk of fraud and security issues associated with gift cards. As gift cards are often purchased online or through digital platforms, they can be susceptible to hacking and fraudulent activities. This poses a challenge for both consumers and businesses, as it can lead to financial losses and damage to brand reputation.

Moreover, there are concerns regarding the expiration and maintenance fees associated with certain gift cards. Some consumers may be hesitant to purchase gift cards if they are unsure about hidden charges or expiration dates. This can lead to a lack of consumer trust in the gift card market, especially for physical gift cards that have traditionally been less transparent in terms of fees and terms of use.

Market Opportunities

The growing trend of digital transformation presents significant opportunities for the gift card market. As more consumers embrace digital payment methods and mobile wallets, there is an increasing demand for digital gift cards. Companies that offer innovative digital solutions, such as virtual gift cards and mobile app integrations, have the potential to capitalize on this shift and expand their customer base.

Another opportunity for growth lies in the corporate sector. Many businesses are adopting gift cards as part of their employee reward programs or customer loyalty initiatives. This provides a steady demand for gift cards, especially in the corporate gifting space. Additionally, the increasing popularity of gift cards for gaming, streaming services, and online entertainment presents new avenues for market expansion.

✅Reasons to Buy the Report:

■ Comprehensive market analysis and future trends forecasting from 2025 to 2032.
■ Detailed insights into key growth drivers, market restraints, and emerging opportunities.
■ In-depth segmentation analysis across product types, end-users, and geographical regions.
■ Identification of the leading players in the market and their strategic moves.
■ Competitive landscape analysis and insights into regional dynamics influencing the market.

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✅Key Players

✦ Amazon
✦ Walmart
✦ Apple
✦ Google
✦ Target
✦ Best Buy
✦ Starbucks
✦ Visa
✦ MasterCard

■ Recent Developments:
■ In 2024, Amazon introduced a new feature that allows users to purchase digital gift cards via voice commands on Alexa.
■ Walmart expanded its gift card offerings, introducing new designs and expanded redemption options across multiple platforms.

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