Global Market for Gift Cards
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)
Best Buy Co., Inc.
Blackhawk Network Holdings, Inc.
Global Payments Direct, Inc.
InComm PaymentsT- NGC US, LLC.
Qwikcilver Solutions Pvt. Ltd.
Key Topics Covered:
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
For more information about this report visit https://www.researchandmarkets.com/r/9dluqx
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