Gift Card Market Set to Soar to US$ 1,472.7 Billion by 2032, Growing at 14.3% CAGR | Persistence Market Research

The global gift card market has undergone a transformative shift, propelled by the digitization of payments, evolving consumer behavior, and rising adoption in both B2C and B2B sectors. According to the latest insights from Persistence Market Research, the global gift card market is expected to reach a substantial valuation of US$ 646.12 billion by 2025. Looking forward, the market is projected to expand at a remarkable CAGR of 14.3%, climbing to an impressive US$ 1,472.7 billion by 2032.

✅Overview of the Market, Market Statistics, Key Drivers, and Leading Segments

Gift cards, once considered a seasonal gifting solution, have become integral to modern consumer spending and brand loyalty strategies. The global market, valued at US$ 646.12 billion in 2025, reflects how businesses and consumers alike are embracing gift cards for their convenience, versatility, and digital integration. With a forecast CAGR of 14.3%, the market is witnessing robust traction across sectors, from retail and hospitality to healthcare and corporate gifting.

Elevate your business with comprehensive market data. Request a sample report now: https://www.persistencemarketresearch.com/samples/11560

A key driver behind this growth is the increasing digitization of transactions and the preference for contactless and cashless payment methods. Among product segments, closed-loop gift cards lead the market, offering enhanced security and brand loyalty. Regionally, North America dominates the global gift card market, driven by strong consumer spending habits, corporate reward programs, and advanced digital infrastructure.

✅Key Highlights from the Report:

➤ The global gift card market will reach US$ 646.12 Bn by 2025.
➤ A strong CAGR of 14.3% is projected through the forecast period to 2032.
➤ The market size is expected to grow to US$ 1,472.7 Bn by 2032.
➤ North America remains the largest regional market, driven by digital adoption.
➤ Closed-loop gift cards lead among product types due to enhanced control and branding.
➤ E-commerce and corporate gifting are major growth contributors.

📊 Market Segmentation:

The gift card market can be segmented by product type into open-loop and closed-loop cards. Closed-loop cards, which are redeemable only at specific retailers or brands, dominate the market due to their alignment with customer loyalty programs and brand-controlled usage. Open-loop cards, generally powered by Visa or Mastercard, are gaining popularity due to their broader usability, but they come with higher operational costs and fraud risks.

End-use segmentation highlights a split between individual consumers and corporate buyers. While consumers use gift cards for personal gifting and promotions, corporate users leverage them for employee incentives, client appreciation, and sales channel rewards. The rise of virtual gift cards in the B2B space, especially within remote workforces, has expanded the scope of enterprise-level demand.

📊 Regional Insights:

North America remains the powerhouse of the global gift card market, fueled by widespread digital payments infrastructure and a thriving e-commerce ecosystem. The United States contributes the lion's share, driven by high consumer spend, retailer partnerships, and digital gifting platforms.

In contrast, the Asia Pacific region is emerging as a high-growth frontier. Countries like China and India are witnessing a boom in e-wallet usage, online shopping, and mobile-based gifting, making them fertile grounds for rapid expansion of the gift card industry.

✅Market Drivers

One of the primary drivers of the gift card market is the proliferation of e-commerce platforms and digital payment solutions. Consumers are increasingly inclined toward virtual gifting solutions that offer convenience, speed, and personalization. Additionally, the integration of gift cards into mobile wallets and apps has further driven adoption, particularly among Millennials and Gen Z.

Another strong influence is the growing use of gift cards in corporate incentive programs. Companies are using them to reward employees, engage customers, and strengthen channel partnerships. Their tax efficiency and scalability make them an attractive option for organizations of all sizes.

✅Market Restraints

Despite the positive outlook, certain factors restrain the market's full potential. Chief among these are fraud risks associated with digital gift cards, such as phishing and card duplication. Additionally, regulatory frameworks in some regions regarding the expiration of cards or fee structures pose compliance challenges for issuers.

Another challenge is the lack of interoperability across platforms and geographic markets. While closed-loop cards offer brand alignment, they limit consumer flexibility, which can deter certain user segments from frequent use.

✅Market Opportunities

With the continuous shift toward digital lifestyles, there is vast untapped potential in emerging economies where mobile internet usage is accelerating. The integration of blockchain for secure transactions and real-time tracking also presents an opportunity to reduce fraud and increase transparency.

Moreover, as sustainability gains prominence, digital gift cards offer an eco-friendly alternative to traditional plastic cards. Brands focusing on environmental consciousness and digital transformation stand to gain significant traction in the coming years.

Elevate your business with comprehensive market data. Request a sample report now: https://www.persistencemarketresearch.com/samples/11560

👉Frequently Asked Questions (FAQs):

➔ How Big is the Gift Card Market?
➔ Who are the Key Players in the Global Market for Gift Cards?
➔ What is the Projected Growth Rate of the Gift Card Market?
➔ What is the Market Forecast for Gift Cards for 2032?
➔ Which Region is Estimated to Dominate the Industry through the Forecast Period?

📌 Key Players

The gift card market is home to a wide array of key players focusing on both digital and physical formats, as well as business and consumer solutions. Some of the leading companies operating in this space include:

✦ Amazon.com Inc.
✦ Apple Inc.
✦ Walmart Inc.
✦ Google LLC
✦ Target Corporation
✦ PayPal Holdings Inc.
✦ American Express Company
✦ Starbucks Corporation
✦ Blackhawk Network Holdings Inc.
✦ InComm Payments

■ In 2024, Blackhawk Network expanded its gift card portfolio by partnering with international retailers to support cross-border digital gifting.
■ Apple introduced a unified gift card that can be used across all Apple services, enhancing customer convenience and brand integration.

In conclusion, the global gift card market is poised for sustained growth, underpinned by technological innovation, digital adoption, and evolving consumer expectations. As businesses and consumers seek flexible, secure, and efficient gifting solutions, gift cards remain a compelling choice. The market's expansion toward US$ 1,472.7 billion by 2032 signals not just a commercial trend, but a transformation in how value, loyalty, and rewards are exchanged in the modern economy.

☎️ Contact Us:

Persistence Market Research
G04 Golden Mile House, Clayponds Lane
Brentford, London, TW8 0GU UK
USA Phone: +1 646-878-6329
UK Phone: +44 203-837-5656
Email: sales@persistencemarketresearch.com
Web: https://www.persistencemarketresearch.com

About Persistence Market Research:

At Persistence Market Research, we specialize in creating research studies that serve as strategic tools for driving business growth. Established as a proprietary firm in 2012, we have evolved into a registered company in England and Wales in 2023 under the name Persistence Research & Consultancy Services Ltd. With a solid foundation, we have completed over 3600 custom and syndicate market research projects, and delivered more than 2700 projects for other leading market research companies' clients.

Our approach combines traditional market research methods with modern tools to offer comprehensive research solutions. With a decade of experience, we pride ourselves on deriving actionable insights from data to help businesses stay ahead of the competition. Our client base spans multinational corporations, leading consulting firms, investment funds, and government departments. A significant portion of our sales comes from repeat clients, a testament to the value and trust we've built over the years.

This release was published on openPR.