Albany, New York, March 06, 2017: The increasing availability of innovative gifting options across the globe and technological advancements in areas such as printing and packaging will allow the global market for personalized gifts to achieve growth at a steady pace, states a report recently added to the vast research report portfolio of MarketResearchReports.biz. The report, titled “Global Personalized Gifts Market 2017-2021,” states that the market will exhibit a promising 9% CAGR over the period of 2017 and 2021.
As product innovation, technological advancements, and novel service offerings play a key role in engaging and attracting new consumers, companies in the global personalized gifts market are focusing on the expansion of product portfolios to include innovative gifting options in the personalized gifts category.
The report examines the market for personalized gifts across regions such as Asia Pacific (APAC), South America, North America, Europe, and Middle East and Africa (MEA). Of these the Americas (North America and South America combined) is expected to emerge as the leading contributor to the revenue of the global market over the report’s forecast period.
This is chiefly attributable to the immense popularity of gifting options such as photo cards in the region. The U.S. will account for the leading share in overall sales observed by the regional market and countries such as Canada, Mexico, and Brazil will also notably contribute to the regional market’s revenue over the forecast period.
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On the basis of product type, the market has been segmented into photo personalized and non-photo personalized. Of these, the segment of non-photo personalized accounted for the dominant share in the market. This segment witnessed extensive demand for accessories and wearables including watches, clothing, footwear, jewelry, keychains, and electronics. The segment will retain its dominance in the global market over the forecast period as well.
In terms of distribution channel, the global personalized gifts market has been examined in the report for two segments: in-store and online. Of these, the dominant share of sales in the market was observed from the in-store distribution channel segment. The segment will continue to account for a massive share in the market’s overall sales owing to factors such as flexible return policies and offers such as extended warranties that online or e-stores rarely offer.
The global market for personalized gifts features a large number of notable vendors and is highly competitive and more mature in developed countries. The rising population of young people and increased awareness regarding the easy availability of personalized gifts in APAC countries such as India and China, the market in APAC is expected to offer vast growth opportunities for companies.
Some of the leading vendors presently operating in the global personalized gifts market are American Greetings, Card Factory, CafePress, PersonalizationMall.com, Cimpress, Hallmark, Shutterfly, Spencer Gifts, Things Remembered, Disney, Signature Gifts, American Stationery, funkypigeon.com, Etsy, Personalised Gift Shop, Memorable Gifts, The Original Gift Company, Redbubble, and Zazzle.
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