Dublin, Nov. 07, 2022 (GLOBE NEWSWIRE) -- The "Gift Cards - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Gift Cards Market to Reach $1.6 Trillion by 2027
Amid the COVID-19 crisis, the global market for Gift Cards estimated at US$767.4 Billion in the year 2020, is projected to reach a revised size of US$1.6 Trillion by 2027, growing at a CAGR of 11.1% over the period 2020-2027. Retail Closed Loop, one of the segments analyzed in the report, is projected to record a 11.4% CAGR and reach US$410.8 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Restaurant Closed Loop segment is readjusted to a revised 10% CAGR for the next 7-year period.
The U.S. Market is Estimated at $293.6 Billion, While China is Forecast to Grow at 15.3% CAGR
The Gift Cards market in the U.S. is estimated at US$293.6 Billion in the year 2020. China, the world's second largest economy, is forecast to reach a projected market size of US$180.2 Billion by the year 2027 trailing a CAGR of 15.3% over the period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 8.9% and 11.1% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 10.1% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$143 Billion by the year 2027.
Miscellaneous Closed Loop Segment to Record 9.3% CAGR
In the global Miscellaneous Closed Loop segment, USA, Canada, Japan, China and Europe will drive the 9.3% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$66.6 Billion in the year 2020 will reach a projected size of US$120.1 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Latin America will expand at a 10.7% CAGR through the analysis period.
Select Competitors (Total 218 Featured)
- Amazon.com, Inc.
- Apple Inc.
- Best Buy Co., Inc.
- Blackhawk Network Holdings, Inc.
- Edenred
- Global Payments Direct, Inc.
- Gyft, Inc.
- InComm PaymentsT- NGC US, LLC.
- Qwikcilver Solutions Pvt. Ltd.
- Starbucks Corporation
- Target Corporation
- Walmart Inc.
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
- Wedding Gift Cards to Witness Steady Growth Supported by Marriageable Millennials
- Robust Rise of e-Commerce & m-Commerce to Support Market Growth
- Pandemic Fast Forwards eCommerce Growth
- Growing Emphasis On Loyalty Management Programs Bodes Well for Inclusion of Gift Cards
- Global Opportunity for Loyalty Management Translates Into Increased Potential for Reaching Out With Gift CardsCoffee Gift Cards as Top Marketing Tools to Benefit From the Healthy Outlook for Coffee Shops
- Growing Market for Coffee Shops to Expand the Addressable Market Opportunity for Coffee Gift Cards
- E-Gifting Rises in Prominence. Here's Why
- Widespread Adoption of Smartphones Accelerates the Concept of e-Gift Cards
- Global Smartphone Shipments in Million Units: 2016-2021
- Growing Smartphones Addiction Implies Retailers Can Lose No Time in Developing a Strong e-Gifting Strategy: Time Spent on Non Voice Activities on Smartphones by Users in the United States for Years 2019 through 2024
- Rising Demand for Personalized Gift Cards as More Consumers Appreciate Personalization
- Growing Focus on Employee Rewards & Recognition to Spur Demand for Gift Cards
- Gift Cards Emerge as a Popular Marketing Strategy for Restaurants
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/9dluqx
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