LONDON--(BUSINESS WIRE)--Technavio’s latest market research report on the global non-photo personalized gifts market provides an analysis of the most important trends expected to impact the market outlook from 2018-2022. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
According to Technavio market research analysts, the global non-photo personalized gifts market will grow at a CAGR of close to 10% during the forecast period. The growing gifting culture and increasing demand for seasonal decorations is a major factor driving the market’s growth.
The sales of seasonal decorations, which also include personalized decorative mugs, plates, and handkerchiefs, account for a major portion of the total revenue generated in the global non-photo personalized gifts market. The sales of these products increase particularly during holidays such as New Year, Christmas, Halloween, Easter, and Hanukkah. Although the demand for seasonal decorations and other seasonal gifts has been high in the US, the UK, and France, consumers in APAC and Central and South America have started using personalized products.
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In this report, Technavio highlights the growing B2C e-commerce and m-commerce market as one of the key emerging trends in the global non-photo personalized gifts market:
Growing B2C e-commerce and m-commerce market
The percentage of individuals using the Internet has more than doubled in 2015 as compared to 2005. With the significant rise in Internet penetration, online retail has witnessed tremendous growth over the past decade. Internet users of developed nations such as the US spend more time online and prefer buying products through websites, thereby fueling growth in developing markets. Vendors operating in the non-photo personalized gifts market have made their products available online due to which consumers can order these gifts from the comfort of their homes.
“With the increasing smartphone and Internet penetration, m-commerce is also gaining traction among millennials. Most millennials prefer ordering products using their phones and get them from anywhere in the world. This is expected to have a positive impact on the global non-photo personalized gifts market,” says a senior analyst at Technavio for retail goods and services research.
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Global non-photo personalized gifts market segmentation
This market research report segments the global non-photo personalized gifts market by product category (wearables and accessories, decoration, kitchenware and tableware, stationery and greeting cards, sports equipment and toys, food and beverages, and others), by distribution channel (offline and online), and key regions (the Americas, APAC, and EMEA).
The wearables and accessories product segment held the largest market share in 2017, accounting for nearly 30% of the market. Based on geography, the global non-photo personalized gifts market was dominated by the Americas with a market share of close to 48%, followed by EMEA and APAC.
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