Promotional Products in the US - Industry Market Research Report

Clear sign: Corporate profit and total advertising expenditure will grow substantially, boosting demand for promotional products

The Promotional Products industry, which includes the design and distribution of promotional products for various sectors, has benefited from largely favorable economic conditions over the last few years. Growth in the total number of businesses and corporate profit have fueled demand for promotional products since new businesses use them to generate consumer awareness and favorability around their brand. In 2020, the COVID-19 pandemic temporarily upturned the industry's growth as the associated economic downturn and stay-at-home orders hindered downstream markets. As the country reopened and the economy started recovery in 2021, industry growth also increased. In 2023, industry revenue will grow at a CAGR of 0.9% to $20.8 billion, including a 0.9% growth in 2023 alone. Companies in this industry design and distribute promotional products (e.g. key chains, magnets and pens). They also provide various advertising-related services, including sign lettering and window dressing. This industry does not include advertising agency services, public relations agency services, media-buying agency services, media representative services, display-advertising services, direct-mail-advertising services or marketing consulting services. This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.