The Corporate Gifting Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Corporate Gifting Global Market Report 2024, The corporate gifting market size has grown strongly in recent years. It will grow from $765.46 billion in 2023 to $839.57 billion in 2024 at a compound annual growth rate (CAGR) of 9.7%. The growth in the historic period can be attributed to corporate relationship building, recognition and appreciation, branding and marketing, occasion-based gifting, competitive edge.
The corporate gifting market size is expected to see strong growth in the next few years. It will grow to $1157.01 billion in 2028 at a compound annual growth rate (CAGR) of 8.3%. The growth in the forecast period can be attributed to sustainability and ethical gifting, virtual and remote work trends, globalization impact, health and wellness focus, data analytics in gifting strategies. Major trends in the forecast period include innovations in packaging, customization and personalization, technology-driven gifting solutions, focus on eco-friendly and sustainable gifts, artisanal and locally sourced products, inclusive and diverse gift selection.
The increasing use of gift cards is expected to propel the growth of the corporate gifting market going forward. Gift cards refer to prepaid cards or vouchers that contain a specific monetary value, allowing the holder to purchase goods or services up to the card’s stored value from the issuing retailer or business. Gift cards provide flexibility for recipients to choose items or experiences that suit their preferences, making them suitable for corporate gifting programs. For instance, in August 2023, according to Gift Rabbit, a US-based affiliate marketing website, gift card sales increased by 22% in 2021 compared to 2020. Further, by 2025, the number of businesses offering gift cards is expected to increase by 23%. Therefore, the increasing use of gift cards will drive the growth of the corporate gifting market.
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The corporate gifting market covered in this report is segmented –
1) By Type: Practical Swag Gifts, Food, Personalized Clothing Item, eGift Card, Experience (Airfare or Concert Tickets), Other Types
2) By Sales Channel: Direct Channel, Distribution Channel
3) By Application: Small And Medium-Sized Enterprises (SMEs), Large Enterprises
Major companies operating in the corporate gifting market are developing advanced technology, such as AI-powered platforms, to enhance gift personalization and improve recipient engagement. AI-powered platforms in corporate gifting help streamline gift selection, tailor offerings to individual preferences, and optimize the overall gifting experience, resulting in stronger client relationships and increased brand loyalty. For instance, in September 2021, Alyce Inc., a US-based company that develops online corporate gifting platforms, launched the next generation of smart gifting capabilities and partnerships to enhance its corporate gifting solution. This AI-powered platform offers advanced features and collaborations that enable businesses to create more impactful and personalized gifting experiences for their clients, prospects, and partners. The platform includes features such as custom gift marketplaces, global gifting execution through Staples Promotional Products, and 1-to-many gifting on behalf of sales, providing efficiency and intelligence for strategic programs and campaigns.
The corporate gifting market report table of contents includes:
1. Executive Summary
2. Corporate Gifting Market Characteristics
3.Corporate Gifting Market Trends And Strategies
4.Corporate Gifting Market analysis
5.Corporate Gifting Market Size And Growth
6.Corporate Gifting Segmentation
7.Corporate Gifting Regional And Country Analysis
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27.Corporate Gifting Competitive Landscape And Company Profiles
28.Corporate Gifting Key Mergers And Acquisitions
29.Corporate Gifting Future Outlook and Potential Analysis
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