Gifts Novelty and Souvenir Market - Global Industry Size, Share, Trends, Opportunity and Forecast, 2020-2030F

The Gifts Novelty and Souvenir Market was valued at USD 134.56 Billion in 2024, and is expected to reach USD 198.33 Billion by 2030, rising at a CAGR of 5.22%. Market expansion is being driven by several key factors, including the rise of the global tourism industry, increasing penetration of e-commerce, and growing consumer demand for personalized and experience-oriented gifts.

As international travel and cultural exchange increase, consumers are seeking distinctive souvenirs and locally crafted products to commemorate their journeys. The expanding use of corporate gifting and promotional merchandise is also contributing to market growth, with businesses investing in customized novelty items for client engagement and employee recognition.

Additionally, the proliferation of digital marketplaces has made a wide array of gift options more accessible to consumers, fueling online sales. Shoppers are showing a marked preference for sustainable, ethically produced, and handmade items, reflecting broader trends in conscious consumerism. These shifting preferences are reshaping the market, fostering innovation and diversification across product lines.

Key Market Drivers

Growing Demand for Personalized Gifts

Personalized gifting continues to be a significant growth driver in the global gifts, novelty, and souvenir market. Consumers are increasingly gravitating toward unique, customized items that reflect personal connections and emotional value. Popular offerings include engraved jewelry, custom-printed merchandise, monogrammed accessories, and artisanal handcrafted goods.

Technological advancements - such as AI-powered recommendations, 3D printing, and laser engraving - have made customization more accessible, efficient, and cost-effective. Online retailers and e-commerce platforms now offer streamlined personalization services, enabling customers to design tailored gifts with ease.

Moreover, personalized corporate gifts are becoming a strategic tool for businesses seeking to enhance brand loyalty and employee engagement. Millennials and Gen Z, who prioritize individuality and meaningful experiences, are particularly drawn to bespoke gifting. With rising interest in sustainable and experience-based products, the personalized gifts segment is set to maintain strong growth, transforming global gifting behaviors.

Key Market Challenges

Competition from Digital and Cashless Gifting Alternatives

The increasing adoption of digital and cashless gifting is presenting a considerable challenge to the traditional gifts and souvenirs market. Consumers are turning to e-gift cards, mobile wallet credits, and subscription-based gifting experiences as convenient, instant alternatives to physical gifts.

These digital formats are particularly popular for corporate gifting, last-minute occasions, and tech-savvy demographics. Additionally, AI-driven gifting platforms now allow recipients to select their own gifts digitally, reducing the relevance of pre-selected tangible items.

This trend is especially pronounced among Millennials and Gen Z, who favor experience-based gifting over material possessions. The emergence of blockchain-enabled and cryptocurrency-based gift solutions is further diversifying digital offerings. To remain relevant, traditional gift and souvenir providers must innovate by integrating tech-driven personalization, offering hybrid physical-digital products, and emphasizing sustainability to meet the evolving expectations of modern consumers.

Key Market Trends

Rising Popularity of Sustainable and Eco-Friendly Souvenirs

Sustainability is becoming a core focus in the global gifts, novelty, and souvenir market, as environmentally conscious consumers seek alternatives to mass-produced, non-biodegradable items. There is growing demand for souvenirs made from sustainable materials such as bamboo, recycled glass, reclaimed wood, and organic fabrics.

In response, many manufacturers are shifting toward eco-friendly production methods and adopting sustainable packaging, replacing traditional plastics with compostable, recyclable, or reusable options. Regulatory bodies around the world are also enforcing stricter environmental standards, pushing brands to implement greener practices.

Furthermore, the popularity of handmade, locally produced, and artisanal souvenirs is on the rise. These products not only reduce environmental impact but also support small businesses and promote fair trade. As ethical and sustainable gifting becomes increasingly important to consumers, companies operating in this market must adapt by incorporating eco-conscious strategies and products to maintain competitiveness and brand relevance in a changing global landscape.

Key Market Players

• Mud Pie
• American Greetings Corporation
• Enesco LLC
• Disney DTC LLC
• Mattel, Inc.
• The Bradford Exchange
• Ganz
• Warner Bros. Discovery, Inc.
• NBCUniversal
• Hallmark

Report Scope:

In this report, the Global Gifts Novelty and Souvenir Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

Gifts Novelty and Souvenir Market, By Product Type:

• Gift
• Novelty Items
• Souvenir

Gifts Novelty and Souvenir Market, By Material:

• Wood
• Metal
• Ceramic
• Plastic
• Others

Gifts Novelty and Souvenir Market, By Occasion:

• Birthdays
• Holidays
• Anniversaries
• Corporate Gifting
• Others

Gifts Novelty and Souvenir Market, By Distribution Channel:

• Online Retailer
• Specialty Gift Shops
• Others

Gifts Novelty and Souvenir Market, By Region:

• North America
• United States
• Canada
• Mexico
• Asia-Pacific
• China
• Japan
• India
• Australia
• South Korea
• Europe
• France
• United Kingdom
• Italy
• Germany
• Spain
• South America
• Argentina
• Colombia
• Brazil
• Middle East & Africa
• South Africa
• Saudi Arabia
• UAE
• Turkey

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Gifts Novelty and Souvenir Market.

Available Customizations:

With the given market data, the publisher offers customizations according to a company's specific needs. The following customization options are available for the report.

Company Information

• Detailed analysis and profiling of additional market players (up to five).

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