2025 Market Reports Update: Market Size Forecasts to 2034, Key Trends, Leading Players, and Top Regions – Get Ahead of the Competition Today!

What Major Innovations Are Driving the Accelerated Growth of the Gift Cards Market?

The expansion of the gift cards market can be attributed to the growing food service industry. The food service industry, which comprises businesses such as restaurants, cafeterias, catering services, and food trucks that prepare and provide food and beverages to consumers, is witnessing robust growth. This growth can be attributed to a boost in consumer demand for dining convenience, shifts in food tastes towards healthier and varied cuisines, and the expansion of urban areas. Gift cards serve to escalate customer fidelity, lure more customers, augment cash flows and aid in brand promotion within the food service industry. For example, the United States Census Bureau, a government statistical agency, reported that retail and food service sales in the U.S. escalated to $704.3 billion in June 2024, indicating a 2.3% surge compared to June 2023. This continuous escalation in the food service industry thereby propels the growth of the gift cards market.

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#What is the Projected CAGR for the Gift Cards Market Size from 2025 to 2034?

The market size of gift cards has seen a significant rise in the recent past. With an impressive compound annual growth rate (CAGR) of 19.0%, the market is expected to burgeon from $1296.06 billion in 2024 to $1542.41 billion in 2025. The notable growth in the historic era is credited to factors such as e-commerce expansion, rise in disposable income of consumers, higher adoption of mobile payments, enhanced demand for customized gift alternatives, and a booming demand for contactless payment methods.

In the coming years, a swift expansion is anticipated for the gift cards market, with its value projected to hit $3053.92 billion by 2029, growing at a compound annual growth rate (CAGR) of 18.6%. This growth over the forecast period can be ascribed to factors such as the growing popularity of digital wallets, an increase in mobile commerce, expansion of corporate rewards programs, a rise in e-gifting tendencies, and enhanced internet and smartphone usage. Key trends predicted for the forecast period include the integration of blockchain technology, the application of artificial intelligence for customization, growing concern toward sustainability and ecologically responsible options, collaborations between retailers and fintech firms, and a rise in the use of social media for promoting gift cards.

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What Are the Most Significant Market Trends Transforming theGift Cards Market?

Top players in the gift cards market, such as Givex Corp., are honing in on the development of imaginative solutions like customizable and animated e-gift cards, in an attempt to enrich the digital gifting experience and meet changing consumer expectations. These digital gift cards, capable of being personalized with unique messages, pictures, and vibrant visual components, enhance the gifting experience by adding a distinctive touch. For example, in October 2023, the Canada-based fintech company, Givex Corp., introduced its customizable and animated e-gift cards, giving customers an opportunity to inject personalization into their e-gift card deliveries. This includes allowing customers to incorporate personalized images, video messages, and themed designs into their e-gifts, turning them into treasured keepsakes. Furthermore, these e-gift cards can now be animated, creating an unexpected delight when the recipient opens their inbox. Givex’s introduction of this innovative feature confirms its dedication to continuous innovation and equipping merchants with the latest technology to improve customer experiences.

What Are the Top Market Players Propelling the Growth of theGift Cards Industry?

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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Which Primary Segments of the Gift Cards Market Are Driving Growth and Industry Transformations?

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 Regions Are Key Players in the Growth of the #What Major Innovations Are Driving the Accelerated Growth of the Gift Cards Market?# 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.

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