Global Gifts Novelty and Souvenirs Market By Product (Souvenirs and novelty items, Seasonal decorations, Greeting cards, Giftware and others), By Distribution Channel(Offline, Online), By End User (Individual Consumers, Corporate Clients, Tourists), By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2025-2034

Report Overview

The Global Gifts Novelty and Souvenirs Market size is expected to be worth around USD 172.2 Billion by 2034, from USD 126.9 Billion in 2024, growing at a CAGR of 3.1% during the forecast period from 2025 to 2034.

Customized travel refers to the bespoke tailoring of travel experiences to meet the specific preferences and needs of individual travelers, rather than standardized, off-the-shelf travel packages. This personalized approach to travel planning allows consumers to select their destinations, accommodations, activities, and even dining preferences, which are then packaged into a unique itinerary by travel professionals.

The customized travel market encompasses businesses and services dedicated to crafting personalized travel experiences. This market segment has evolved significantly with advancements in technology and changing consumer behaviors, emphasizing unique, experiential travel over traditional mass tourism models.

The customized travel sector is poised for substantial growth, driven by increasing consumer demand for personalized experiences and the proliferation of digital platforms that facilitate bespoke travel planning.

This growth is further supported by the integration of artificial intelligence and machine learning technologies, which enable more nuanced understanding of traveler preferences and the delivery of more accurate, personalized travel recommendations.

Governmental investment in tourism often includes enhancing infrastructure, such as airports and digital connectivity, which are crucial for customized travel offerings.

Additionally, regulations are increasingly geared towards ensuring sustainable and responsible travel practices, which aligns well with the rising consumer preference for eco-friendly and ethical travel options.

Recent market data provides valuable insights into consumer behavior and market dynamics within the customized travel sector. For instance, according to Giftafeeling, there were 54,863 gift shops and card stores in the United States in 2023, reflecting a slight decrease of 0.6% from the previous year.

Furthermore, Giftafeeling reports that 65% of consumers purchased personalized gifts last year, indicating a strong preference for customized solutions across sectors. PassiveSecrets adds that the US gift, novelty, and souvenir stores industry is anticipated to generate $16.6 billion in revenue by 2024, suggesting robust economic activity in areas aligned with personalized services and experiences.

Additionally, there’s a growing demand for eco-friendly and sustainable gifts, with 80% of people preferring gifts that send a positive message, mirroring trends in the travel sector towards sustainability.

Lastly, nearly half of Americans (43%) consider cash to be the most desirable Christmas gift, which could indicate a broader openness to allocating discretionary spending towards customized travel experiences.

Key Takeaways

• The Global Gifts, Novelty, and Souvenirs Market is projected to reach USD 172.2 billion by 2034, growing at a CAGR of 3.1% from 2025 to 2034.
• Souvenirs and novelty items dominated the product segment in 2024, driven by demand from tourists and local consumers.
• Offline distribution channels dominated Market in 2024, reflecting consumers’ preference for in-person shopping experiences.
• Individual consumers led the end-user segment in 2023, emphasizing the demand for unique and personalized items.
• The Asia-Pacific region holds the largest market share, supported by high population, cultural gifting practices, and growing retail and online accessibility.

Product Analysis

By Product Analysis Showcased Strong Preference for Souvenirs and Novelty Items, with Seasonal and Personal Touches Gaining Ground.

In 2024, souvenirs and novelty items held a dominant market position in the By Product Analysis segment of the Gifts, Novelty, and Souvenirs Market. This category captured significant consumer interest due to its diverse range of products that cater to both tourist demographics and local shoppers seeking unique, memorable items.

As personalization becomes a key driver in consumer purchases, these products have seen a rise in demand, offering bespoke and culturally relevant options that resonate well with customers’ desires for differentiated goods.

Seasonal decorations followed closely, with a notable increase in market share during festive periods. These items, essential for holiday celebrations, have benefited from the expansion of online retail platforms, which make seasonal decorations more accessible to a wider audience.

Greeting cards have maintained a steady market presence, sustained by traditional values and the resurgence of personalized, handcrafted cards. Despite digital alternatives, physical cards continue to hold sentimental value, especially in established markets.

Lastly, the giftware and other segments, which include an assortment of items from luxury collectibles to practical gifts, showed a steady performance. These segments are bolstered by gift-giving traditions across various cultures and the increasing trend of gifting as a means to maintain social bonds in a fast-paced world.

Distribution Channel Analysis

Offline Channel Dominates Gifts Novelty and Souvenirs Market Distribution with 75% Share

In 2024, Offline held a dominant market position in the By Distribution Channel Analysis segment of the Gifts Novelty and Souvenirs Market. This significant lead is attributed to consumers’ preference for tangible shopping experiences, where they can physically inspect products before purchase.

Traditional retail stores, including gift shops and souvenir outlets, continue to draw substantial foot traffic, especially in tourist-heavy locations and during peak holiday seasons. These establishments offer the advantage of immediate product availability and eliminate the uncertainties associated with online shopping, such as shipping delays and digital payment security concerns.

Additionally, offline shopping provides an immediate and engaging consumer experience, crucial for purchasing decisions in the gift and souvenir category, where the look and feel of the product play significant roles. Despite the growing trend towards digital transformation, the tactile nature of shopping in this market segment ensures that offline channels remain influential.

Concurrently, the Online distribution channel of the Gifts Novelty and Souvenirs Market has shown a steady growth trajectory. This increase is driven by the convenience of shopping from home and the broader selection of products available online, which appeals to a technologically savvy consumer base.

E-commerce platforms and online gift shops have been refining their user experiences, offering improved website interfaces, detailed product descriptions, and augmented reality tools to simulate

End User Analysis

Individual Consumers Lead in Gifts, Novelty, and Souvenirs Market

In 2023, Individual Consumers held a dominant market position in the By End User Analysis segment of the Gifts, Novelty, and Souvenirs Market. The trend underscores a growing preference among private buyers to seek unique and personalized items that convey a deeper sentiment or celebrate personal connections.

This consumer segment’s dominance is primarily driven by the rise of e-commerce platforms that offer a vast array of customizable options, catering to diverse tastes and preferences across various demographics.

Corporate Clients, as the second-largest segment, have showcased a steady demand for corporate gifts that reinforce brand identity and enhance employee and client relationships. This segment leverages bulk purchasing to secure cost-effective deals, often opting for eco-friendly and sustainable products that align with corporate social responsibility goals.

Tourists constitute a significant but smaller portion of the market. This group predominantly purchases souvenirs that serve as mementos of their travels, emphasizing local craftsmanship and cultural significance. The demand within this segment fluctuates with travel trends and seasonality, often peaking during holiday seasons and in tourist hotspots that are marketed effectively.

These dynamics underscore a vibrant and evolving market, where personalization, sustainability, and cultural richness continue to shape consumer preferences and purchasing behaviors.

Key Market Segments

By Product

• Souvenirs and novelty items
• Seasonal decorations
• Greeting cards
• Giftware and others

By Distribution Channel

• Offline
• Online

By End User

• Individual Consumers
• Corporate Clients
• Tourists

Drivers

Boosting Tourism Drives Souvenir Sales

The gifts, novelty, and souvenirs market is experiencing significant growth, primarily driven by the increasing volume of tourism and travel activities worldwide. As more people travel, there’s a rising demand for culturally unique souvenirs that capture the essence of their destinations, enriching their travel experience.

Additionally, the surge in e-commerce has transformed how consumers access and purchase these items, making a wide range of products from different cultures readily available at their fingertips, regardless of their location.

This ease of access is complemented by a global increase in celebration culture, where people from diverse backgrounds share their traditions and festivities, further fueling the demand for unique gifts and novelty items.

Moreover, the trend of corporate gifting continues to bolster market growth, with companies frequently opting for these products to delight employees and clients, adding a personal touch to professional relationships. These factors collectively drive the robust expansion of the gifts, novelty, and souvenirs market.

Restraints

Market Saturation Curbs Growth Opportunities

In the Gifts, Novelty, and Souvenirs Market, market saturation emerges as a significant restraint, stifling growth across the sector. This industry is characterized by intense competition among numerous vendors, who often offer similar products, making it challenging for any single player to stand out and increase market share.

The vast array of similar choices can overwhelm consumers, leading to decision fatigue and reduced purchase frequency. Additionally, economic downturns pose a critical challenge, as they directly impact consumer spending habits.

During these periods, households typically cut back on non-essential expenditures, which include gifts and novelty items, further constricting market expansion. This sensitivity to economic fluctuations makes the market particularly vulnerable during financial instability, as discretionary income declines and consumer confidence wavers, affecting overall sales and profitability in the sector.

Growth Factors

Embracing Augmented Reality in Gifts Enhances Consumer Connection and Drives Market Growth

In the dynamic world of the gifts, novelty, and souvenirs market, integrating technological innovations such as augmented reality (AR) presents a significant growth opportunity. By incorporating AR, businesses can revolutionize how consumers interact with products, offering a unique and interactive experience that enhances the appeal and personalization of gift items.

This technological approach not only differentiates products in a competitive market but also caters to the tech-savvy generation looking for novel shopping experiences. Additionally, focusing on sustainability by offering eco-friendly and sustainable products can capture the attention of environmentally conscious consumers, aligning with global trends towards greener consumer practices.

Seasonal and limited-edition releases can also drive sales by creating a sense of urgency and exclusivity, while influencer and celebrity endorsements can effectively leverage social proof to enhance brand visibility and boost sales, making these strategies critical for capturing diverse consumer segments and expanding market reach.

Emerging Trends

DIY Products Lead the Charge in Gifts, Novelty, and Souvenirs Market

In the Gifts, Novelty, and Souvenirs market, DIY and craft-based products are capturing consumers’ hearts. This growing trend reflects a shift towards personalization and the charm of artisan-made items. As customers seek unique and meaningful gifts, handcrafted products are not just purchases but cherished experiences.

Meanwhile, the market is also experiencing technological integration, with smart souvenirs gaining traction. These items often include QR codes that unlock digital content, adding a layer of interactivity and personalization.

Additionally, augmented reality (AR) is transforming traditional souvenirs, allowing physical products to offer immersive digital experiences. This technology not only enhances the user experience but also provides new avenues for storytelling. Another significant trend is the shift towards sustainable practices in packaging.

Eco-friendly and innovative packaging solutions are increasingly popular, meeting the demands of eco-conscious consumers who prioritize sustainability in their purchasing decisions. These trends collectively underscore a dynamic shift towards more interactive, personalized, and environmentally responsible products in the market.

Regional Analysis

Asia-Pacific leads the Gifts, Novelty, and Souvenirs Market

The Gifts, Novelty, and Souvenirs Market exhibits significant variations across different regions, reflecting diverse consumer preferences and economic dynamics.

The Asia-Pacific region is the most dominant of the global market share. This dominance is fueled by the vast population, rising disposable incomes, and deep-rooted cultural practices of gifting in countries like China and India. The expansion of retail and online platforms further drives market accessibility and variety in offerings.

Regional Mentions:

In North America, the market is characterized by a high demand for personalized and eco-friendly products, driven by robust retail infrastructure and e-commerce penetration. Consumer spending on gifts, particularly during festive seasons, supports a steady market growth trajectory.

Europe’s market is propelled by the rich cultural heritage and tourist influx, which favor the sales of artisanal and locally made souvenirs. The market is well-integrated with the tourism industry, especially in countries like Italy and France, which are popular for their unique handicrafts and luxury gift items. The emphasis on sustainability influences product offerings and consumer choices.

In the Middle East & Africa, the market growth is slower compared to other regions but shows promise due to increasing urbanization and the expansion of retail sectors in the Gulf Cooperation Council (GCC) countries. The market in this region is distinctive for its demand for luxury and high-value items, often linked to local traditions and religious tourism.

Latin America shows a moderate growth pattern in the gifts, novelty, and souvenir market, with Brazil and Mexico leading the charge. The market benefits from regional festivals and a strong familial culture that cherishes gift-giving. The economic stability in major economies supports consumer spending on novelty items and souvenirs.

Key Regions and Countries covered іn thе rероrt

• North America
  • US
  • Canada
• Europe
  • Germany
  • France
  • The UK
  • Spain
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • South Korea
  • India
  • Australia
  • Rest of APAC
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of MEA

Key Players Analysis

In 2023, the global Gifts, Novelty, and Souvenirs Market witnessed dynamic contributions from several key players, each utilizing distinct strategies to capture market share and consumer interest.

Hallmark and American Greetings maintained their prominence through extensive retail networks and deep-rooted brand recognition, focusing on personalized products and innovative greeting card designs. Spencer Gifts catered to niche markets with its unique, quirky product lines, successfully leveraging pop culture trends to appeal to a younger demographic.

Card Factory continued to emphasize cost-effectiveness and widespread accessibility in the UK, distinguishing itself with value-oriented offerings. Alibaba Group and Amazon capitalized on their vast online platforms to offer a diverse range of products from global suppliers, enhancing customer experiences with sophisticated algorithms for personalized recommendations and streamlined logistics.

Party City excelled by specializing in party supplies and seasonal decorations, aligning inventory and marketing strategies with holiday periods and festive occasions. Etsy remained a significant player in the handcrafted segment, supporting independent artists and craftsmen, which resonated well with consumers seeking unique and ethical gift options.

Swarovski and Pandora specialized in the premium segment, focusing on high-quality, intricately designed jewelry and accessories that serve as both gifts and collectibles. Their emphasis on craftsmanship and brand prestige helped them maintain a strong position in the luxury market segment.

Overall, the diversity of strategies among these key players—from digital innovation and personalized products to niche marketing and luxury branding—highlights the dynamic nature of the Gifts, Novelty, and Souvenirs Market. Each company’s approach reflects a deep understanding of consumer trends and the increasing demand for products that are unique, personal, and culturally relevant.

Top Key Players in the Market

• Hallmark
• American Greetings
• Spencer Gifts
• Card Factory
• Alibaba Group
• Party City
• Etsy
• Amazon
• Swarovski
• Pandora

Recent Developments

• In December 2024, Elliott Investment Management announced its plan to acquire a majority stake in American Greetings Corporation. This strategic move is expected to strengthen Elliott’s portfolio in the greeting cards and social expressions industry.
• In Aug 2024, Card Factory secured its entry into the U.S. market with the acquisition of Garven Holdings for £20 million. This acquisition is set to expand Card Factory’s international reach and operational capabilities.
• In Sep 2024, PCHI revealed plans to wind down Party City stores and its wholesale operations. This decision comes amid restructuring efforts aimed at addressing financial challenges and market shifts.

Report Scope