The Gift Card Market was valued at USD 744.1 Billion in 2024, and is projected to reach USD 2.39 Trillion by 2034, rising at a CAGR of 12.50%.
The growing demand for flexible and convenient gifting options is a key driver behind this expansion. As more consumers look for personalized yet practical solutions for gifting, the popularity of gift cards continues to rise. These cards are no longer just a simple way to give money; they are now seen as meaningful presents that can be customized with unique messages, designs, and personal touches.
The market is also witnessing a surge in demand from businesses that use gift cards as part of customer engagement strategies and promotional campaigns. Companies leverage gift cards to attract new customers and strengthen loyalty with existing ones, offering rewards and incentives that encourage spending. The versatility of gift cards makes them suitable for a wide range of occasions, adding to their growing appeal. Alongside consumer use, businesses view gift cards as an effective marketing tool, boosting sales and brand engagement. As this trend continues to evolve, the gift card market is poised for strong and consistent growth in the coming years.
The market is segmented into closed-loop and open-loop cards, each catering to different consumer and business needs. Closed-loop cards, which can be redeemed only at specific retailers or brands, accounted for USD 326.6 billion in revenue in 2024. These cards are especially popular among corporations that distribute them as part of employee recognition programs and sales promotions. By offering gift cards as rewards, businesses encourage increased spending and customer loyalty. Open-loop cards, which are accepted across various merchants and platforms, are gaining popularity due to their flexibility. Both types of cards contribute significantly to market expansion, with businesses and consumers recognizing their value for everyday purchases and special occasions alike.
Gift cards are also categorized as physical and virtual, with virtual cards gaining significant traction. In 2024, virtual gift cards represented 48.7% of total market share. The rising preference for digital solutions reflects consumers' growing demand for instant, hassle-free, and environmentally friendly options. As mobile payments and contactless transactions become more widespread, virtual gift cards appeal to consumers who prioritize speed and convenience in gifting.
The U.S. gift card market alone was valued at USD 223 billion in 2024 and continues to grow rapidly. The presence of major gift card providers and increasing collaborations between businesses and card issuers are fueling market growth. As companies adopt gift cards for promotions and customer rewards, the demand within the U.S. remains strong and continues to support overall market momentum.
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The growing demand for flexible and convenient gifting options is a key driver behind this expansion. As more consumers look for personalized yet practical solutions for gifting, the popularity of gift cards continues to rise. These cards are no longer just a simple way to give money; they are now seen as meaningful presents that can be customized with unique messages, designs, and personal touches.
The market is also witnessing a surge in demand from businesses that use gift cards as part of customer engagement strategies and promotional campaigns. Companies leverage gift cards to attract new customers and strengthen loyalty with existing ones, offering rewards and incentives that encourage spending. The versatility of gift cards makes them suitable for a wide range of occasions, adding to their growing appeal. Alongside consumer use, businesses view gift cards as an effective marketing tool, boosting sales and brand engagement. As this trend continues to evolve, the gift card market is poised for strong and consistent growth in the coming years.
The market is segmented into closed-loop and open-loop cards, each catering to different consumer and business needs. Closed-loop cards, which can be redeemed only at specific retailers or brands, accounted for USD 326.6 billion in revenue in 2024. These cards are especially popular among corporations that distribute them as part of employee recognition programs and sales promotions. By offering gift cards as rewards, businesses encourage increased spending and customer loyalty. Open-loop cards, which are accepted across various merchants and platforms, are gaining popularity due to their flexibility. Both types of cards contribute significantly to market expansion, with businesses and consumers recognizing their value for everyday purchases and special occasions alike.
Gift cards are also categorized as physical and virtual, with virtual cards gaining significant traction. In 2024, virtual gift cards represented 48.7% of total market share. The rising preference for digital solutions reflects consumers' growing demand for instant, hassle-free, and environmentally friendly options. As mobile payments and contactless transactions become more widespread, virtual gift cards appeal to consumers who prioritize speed and convenience in gifting.
The U.S. gift card market alone was valued at USD 223 billion in 2024 and continues to grow rapidly. The presence of major gift card providers and increasing collaborations between businesses and card issuers are fueling market growth. As companies adopt gift cards for promotions and customer rewards, the demand within the U.S. remains strong and continues to support overall market momentum.
Comprehensive Market Analysis and Forecast
- Industry trends, key growth drivers, challenges, future opportunities, and regulatory landscape
- Competitive landscape with Porter’s Five Forces and PESTEL analysis
- Market size, segmentation, and regional forecasts
- In-depth company profiles, business strategies, financial insights, and SWOT analysis
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Table of Contents
Chapter 1 Methodology and Scope
Chapter 2 Executive Summary
Chapter 3 Industry Insights
Chapter 4 Competitive Landscape, 2024
Chapter 5 Market Estimates and Forecast, by Type, 2021-2034 ($ Mn)
Chapter 6 Market Estimates and Forecast, by Form, 2021-2034 ($ Mn)
Chapter 7 Market Estimates and Forecast, by Distribution Channel, 2021-2034 ($ Mn)
Chapter 8 Market Estimates and Forecast, by End Use, 2021-2034 ($ Mn)
Chapter 9 Market Estimates and Forecast, by Region, 2021-2034 ($ Mn)
Chapter 10 Company Profiles
Companies Mentioned
The companies profiled in this Gift Card market report include:- Amazon.com Inc.
- American Express Company
- Apple Inc.
- Best Buy Co. Inc.
- Blackhawk Network
- CVS Health Corporation
- Deluxe Card Services
- Fiserv Inc.
- Givex Corporation
- Harmony Gifts
- Home Depot Inc.
- Lowe's Companies Inc.
- Mastercard Incorporated
- Pine Labs Pvt.
- Premier Gourmet
- Spectrum Rewards
- Starbucks Corporation
- Visa Inc.
- Walmart Inc.
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 180 |
| Published | March 2025 |
| Forecast Period | 2024 - 2034 |
| Estimated Market Value ( USD | $ 744.1 Billion |
| Forecasted Market Value ( USD | $ 2390 Billion |
| Compound Annual Growth Rate | 12.5% |
| Regions Covered | Global |
| No. of Companies Mentioned | 20 |
