Gifts Novelty and Souvenirs Market

“Global Gifts Novelty and Souvenirs Market: Industry Analysis, Market Size, Share, Trends, Application Analysis, Growth and Forecast, 2024-2029” provides a deep and thorough evaluation of the global gifts novelty and souvenirs market. Gifts novelty souvenirs are special items gifted on celebrations such as anniversaries, festivals, weddings, and birthdays. Some of the most common gifts, novelty and souvenirs are accessories, ceramics, candles, pottery, greeting cards, books, personal care, jewelry, collectibles, books, photo frames, stationery, wall art, and plush products. These products work as a reminder of celebratory occasions, events, places visited, or people. Nowadays, gifts, novelty and souvenirs have gained immense traction as expressions of gratitude and or mementos.

One of the primary factors driving the market is the increasing demand for customized and premium gifts. Additionally, with the inflating income levels of the masses, they are increasingly spending on purchasing gift items, collectibles, and showpieces for their friends and family while visiting various places. Other than this, the rising number of individuals traveling worldwide due to the easy availability of economical vacation packages are escalating the product demand. Besides this, the growing demand for non-seasonal gifts and the rising trend of expressing love and gratitude on non-seasonal occasions such as Mothers’ Day, Fathers’ Day, birthdays, and corporate events are also contributing to the market growth. Furthermore, rapid urbanization, recent technological advancements, and the launch of various unique, innovative, and modern product variants that enhance the interiors of houses are expanding the consumer base. For instance, they are introducing digital and illuminated photo frames that individuals often purchase as gifts and showpieces. In line with this, significant investments in aggressive promotional activities and product premiumization have propelled the market growth. Moreover, the key market players are also investing in research and development (R&D) activities to expand their product portfolio. Some of the other growth-inducing factors include the emerging business travel, shifting consumer preferences toward gift personalization, and easy accessibility of these products on various online and offline platforms.

Beginning with a global overview, the report explores the dynamics that have a strong influence on the gifts novelty and souvenirs market and can also impact its future growth. Taking 2023 as the base year, the report covers the historical market scenarios from 2018-2023 and provides forecasts till 2029. This includes the study of value and volume trends and pricing history. Growth-inducing factors, market restraints, and recent developments have also been analyzed in the report in order to provide deeper knowledge about the industry. On a regional basis, the report examines the gifts novelty and souvenirs market in North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. For each of these regions, the report studies the gifts novelty and souvenirs market in detail for the latest trends, outlook, and opportunities.

The report analyses the competitive structure of the gifts novelty and souvenirs industry and provides the profiles of major players operating in the market. The price margins for the products along with the various success and risk factors for manufacturers have also been covered in the report. Moreover, in order to determine market attractiveness, the report analyses the gifts novelty and souvenirs industry along with the parameters of Porter’s Five Forces model. This model examines the degree of competition in the gifts novelty and souvenirs industry by analyzing the threat posed by new entrants and substitutes, and the bargaining power of suppliers and buyers. SWOT analysis of the market has also been presented in the report which highlights the strengths, weaknesses, opportunities, and threats pertaining to the gifts novelty and souvenirs industry. Furthermore, the value chain analysis of the gifts novelty and souvenirs industry has also been covered in the report. This comprises of all the activities in the value chain, such as the procurement of various raw materials, manufacturing, sales, and distribution. 

Key Segments and Highlights of the Global Gifts Novelty and Souvenirs Market 

• Historical and current scenario
• Trends and developments
• Impact of COVID-19
• Market forecast
• Price analysis and forecast
• Porter’s five forces analysis
• SWOT analysis
• Value chain analysis
• Market Breakup by Type
• Market Breakup by End-Use
• Market Breakup by Region
  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East & Africa

• Key players         

The report is a result of exhaustive primary and secondary research undertaken by analysts having years of experience in the Gifts Novelty and Souvenirs industry. All the qualitative and quantitative aspects of the industry have been covered and the collected data has been analysed and presented in the form of easily comprehensible charts, graphs and tables.